Mustang Energy Completes Airborne Geophysical Survey over the Dutton Project, Saskatchewan
Mustang Energy Completes Airborne Geophysical Survey
over the Dutton Project, Saskatchewan
VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- Mustang Energy
Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to
announce that it has completed an Aerial Electromagnetic Survey (Xcite™ TDEM) over its
100% owned Dutton Project (or the "Project") in the southern Athabasca Basin,
Saskatchewan.
The Xcite™ TDEM survey commenced February 15, 2025 and covered the eastern portion of
the claim package which has not been previously surveyed for electromagnetic (EM)
conductors. The helicopter supported survey was completed by Axiom Exploration Group
with 263 line-km flown at a 200 meter spacing. The survey is expected to precisely locate
EM anomalies and aid in structural interpretations on the property for future drill targeting.
Nick Luksha, CEO, commented: “We are pleased to have now completed our geophysical
program at our Dutton project. This marks another important step in our path to developing
drill targets across much of our highly underexplored portfolio of prospective uranium
projects. We thank the field crew for a safe and efficient program and look forward to
receiving results.”
Xcite™ is a new generation of helicopter-borne time-domain electromagnetic (TDEM)
systems developed by New Resolution Geophysics (NRG™). Axiom is an exclusive provider
of this service in North America. This state-of-the-art technology provides an efficient
alternative to all prior TDEM technologies for the mineral exploration. The system utilizes a
patented inflatable transmitter loop with a diameter of approximately 20 meters,
suspended about 30 meters below the helicopter. The Xcite™ system offers exceptional
signal clarity, enabling the detection of subtle subsurface features. It features a
programmable waveform with a fast turn-off time, allowing for flexibility in data acquisition
and improved resolution of both shallow and deep targets.
About the Dutton Project
The 100% owned Dutton Project spans 7,633 hectares over three adjoining claims in the
Southern Athabasca Basin, Saskatchewan. Approximately 20 kilometres to the East of the
Project lies the Virgin River Shear Zone which hosts known high-grade uranium deposits
such as Cameco Corp’s Centennial Deposit. The property is positioned just west of the
Cable Bay Shear Zone within the Mudjatik Domain, a major structural discontinuity which
hosts several uranium occurrences. The project encompasses a diabase dyke complex,
including conductive anomalies and elevated radioactivity.2 Historical exploration (1978–
1981) identified several features of interest, including weakly conductive EM anomalies,
biogeochemical uranium enrichment, and radioactive dykes.3 The Project has never been
drill-tested, and will benefit from additional geophysical surveys and surface sampling to
aid in future drill target generation.
Figure 1: Overview of Mustang Energy Corp's Dutton Project1
References:
1. Saskatchewan GeoAtlas, Retrieved from: https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas
2. Saskatchewan Mineral Deposits Index, SMDI# 2058, Abraham Bay Radioactive Diabase Dykes, Retrieved from:
https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2058
3. Saskatchewan Mineral Assessment Database, Report# 74G06-0024, Retrieved from: http://mineral-
assessment.saskatchewan.ca/Pages/BasePages/Main.aspx
Qualifying Statement
The scientific and technical information in this release has been reviewed and approved by Lynde
Guillaume, P .Geo., Technical Advisor for Mustang Energy, a registered member of the Professional
Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National
Instrument 43-101.
Adjacent Property Disclaimer:
This news release includes references with respect to uranium deposits which are located near the Dutton
Project. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on
nearby properties and any promising results thereof are not necessarily indicative of the mineralization of,
or located on the Dutton Project, or the Company’s ability to commercially exploit the Projects, or to locate
any commercially exploitable deposits therefrom. The Company cautions investors on relying on this
information as the Company has not confirmed the accuracy or reliability of the information.
About Mustang Energy Corp.:
Mustang is a resource exploration company focused on acquiring and developing high-potential uranium
and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan,
Canada and holds 77,318 hectares in around the Athabasca Basin. Mustang's flagship property, Ford
Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and
Roughrider South projects span 3,442 hectares to the north and the Spur Project to the south covering
17,929 hectares. Mustang has also established its footprint in the Cluff Lake region of the Athabasca
Basin with the Yellowstone Project (21,820 hectares) and further expanded its presence in the south
central region of the Athabasca Basin with the Dutton Project (7,633 hectares).
For further information, please contact:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Figure 2: Mustang Energy Corp. Projects Map - Athabasca Basin, Saskatchewan1
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responsibility for the adequacy or accuracy of this release.
This news release includes certain statements and information that may constitute forward -looking
information within the meaning of applicable Canadian securities laws. Forward-looking statements relate
to future events or future performance and reflect th e expectations or beliefs of management of the
Company regarding future events. Generally, forward -looking statements and information can be
identified by the use of forward -looking terminology such as “intends”, “believes” or “anticipates”, or
variations of such words and phrases or statements that certain actions, events or results “may”, “could”,
“should”, “would” or “occur”. This information and these statements, referred to herein as “forward-
looking statements”, are not historical facts, are made as o f the date of this news release and include
without limitation, statements regarding discussions of future plans, estimates and forecasts and
statements as to management's expectations and intentions with respect to, among other things, the
future potential of the minerals claims held by the Company, including the Dutton Project; the completion
of future work on the Yellowstone Project; that marketing campaigns led by MCS will expand the
Company’s presence in Europe; and that the Company is strategically positioned for substantial growth. In
making the forward -looking statements in this news release, the Company has applied several material
assumptions, including without limitation the assumption that the Company will be able to continue
exploring its properties given various environmental and economic factors outside of its control; that the
marketing campaigns created by MCS will be completed as planned; and that the marketing engagement
with MCS will have the desired impact on Mustang’s presence in Europe . Although management of the
Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on forw ard-
looking statements and forward -looking information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company does not undertake to update any
forward-looking statement, forward -looking information o r financial out -look that are incorporated by
reference herein, except in accordance with applicable securities laws.