Mustang Energy Corp. Expands Strategic Land Holdings in Saskatchewan’s Athabasca Basin
Mustang Energy Corp. Expands Strategic Land Holdings in
Saskatchewan’s Athabasca Basin
VANCOUVER, British Columbia, April 28, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC,
OTC:MECPF, FRA:92T) (the “ Company” or “ Mustang”) is pleased to announce the successful staking of
five new 100% -owned prospective uranium mineral claims in Northern Saskatchewa n. This addition
expands Mustang’s total land package to 92,211 hectares across 14 strategically positioned projects
within and around the world -renowned Athabasca Basin —home to some of the highest-grade uranium
deposits globally.
Newly Staked Properties Overview:
Saddle Project
The Saddle Pro ject comprises two claims totaling 1,804 hectares, located approximately 10 km west of
the historic Cluff Lake Uranium Mine (historical produc tion of over 62 million pounds of uranium
concentrate),1 and 15 km northwest of the S hea Creek Uranium Deposit. The Saddle Project is situated
along the outer rim of the Carswell Impact Structure, a circular geological feature believed to be caused
by a meteorite impact. This area hosts intersecting structural features including ring faults and northwest-
trending conductors that are sub -parallel to the Saskatoon Lake Conductor, a known mineralized trend
associated with the Shea Creek Uranium Deposit.2
Historical drilling on the western boundary of the Saddle Project encountered zones of extensive
structural disruption between 115 and 635 meters depth, with roughly 40% of the interval affected by
brecciation, bleaching, silicification, and fractured core within the Athabasca Group sediments (drillhole
06WC-004).3
The Company advises that, notwithstanding the proximity of location, discoveries of minerals on the Cluff
Lake Deposit or Shea Creek Deposit and any promising results thereof are not necessarily indicative of the
mineralization of, or located on the Saddle Project, or the Company’s ability to commercially exploit the
Saddle Project, 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 reli ability of
the information.
Yellowstone East Expansion
Mustang has added one claim (1,021 hectares) to its existing 100% owned Yellowstone East Project in
the western Athabasca Basin. Located 20 km northeast of the historic Cluff Lake Uranium Mine, the
project is situated along the Carswell structure’s outer rim and remains largely underexplored for its
uranium potential.
Ram Project
The Ram Property spans 2,229 hectares in the southwest Athabasca Basin along the Clearwater Domain.
This geological domain is considered a key driver of uranium mineralization along the Patterson Corridor,
which hosts major uranium assets including NexGen Energy’s Rook I Project. Although geologically
prospective, the Ram Property remains relatively underexplored.
The Company advises that, notwithstanding the proximity of location, discoveries of minerals on NexGen
Energy’s Rook I Project and any promising results thereof are not necessarily indicative of the
mineralization of, or located on the Ram Project, or the Company’s ability to commercially exploit the Ram
Project, 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.
Lariat Project
The Lariat Project consists of one claim covering 4,396 hectares, situated just north of the Athabasca Basin
and approximately 10 km northeast of Stony Rapids. The property comprising the Lariat Project lies along
the Snowbird Tectonic Zone, a major crustal -scale shear zone known for hosting uranium deposits —
including Cameco Corp’s Centennial and Dufferin Lake deposits in the southern Athabasca Basin. Located
about 15 km north along trend from Uranium Energy Corp.’s Black Lake Uranium Project, the Lariat Project
not only holds potential for uranium but is also considered prospective for magmatic Cu -Co-Ni
mineralization associated with mafic-ultramafic intrusions within the hybrid gneiss complex.4
The Company advises that, notwithstanding the proximity of location, discoveries of minerals on Cameco
Corp’s Centennial and Dufferin Lake deposits , as well as on Uranium Energy Corp.’s Black Lake Uranium
Project and any promising results thereof are not necessarily indicative of the mineralization of, or located
on the Lariat Project, or the Company’s ability to commercially exploit the Lariat Project, or to locate any
commercially exploitable deposits therefrom. The Company cautions investors on relying o n this
information as the Company has not confirmed the accuracy or reliability of the information.
Figure 1: Overview Map of Mustang Energy’s recently staked claims in the Western Athabasca Basin, Saskatchewan5
Figure 2: Overview Map of Mustang Energy’s recently staked Lariat Project north of the Athabasca Basin, Saskatchewan5
Strategic Importance
This strategic land expansion reinforces Mustang’s long-term vision of building a high-impact portfolio of
uranium and critical mineral assets in tier -one jurisdictions with robust infrastructure. As global demand
for clean energy intensifies and nuclear power regains prominence, Mustang is well -positioned to
capitalize on emerging opportunities in the uranium sector.
“These acquisitions strengthen our exploration footprint in some of the most promising uranium corridors
in the world,” said Nicholas Luksha, CEO and Director of Mustang Energy. “Our focus remains on
responsible exploration, community engagement, and environmental stewardship as we continue expand
our project portfolio.”
References
1. Orano Group - Cluff Lake Project Concludes Mining Life Cycle. Retrieved from:
https://www.orano.group/canada/en/news-resources/news/2023/may/cluff-lake-project-concludes-
mining-life-cycle
2. Uranium Energy Corp. Shea Creek Geology. Retrieved from:
https://www.uraniumenergy.com/projects/canada/shea-creek/
3. Saskatchewan Mineral Assessment Database (SMAD), *Drillhole 06WC-004*, Assessment Report
Reference: 74K05-0143.
4. Saskatchewan Mineral Deposits Index. SMDI# 5443. Cora Lake Ni-Cu-Co locations
5. Saskatchewan GeoAtlas, Retrieved from:
https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas
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.
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 92,211 hectares in around the Athabasca Basin . Mustang's Ford Lake project covers
7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South
projects span 3,442 hectares, and the south-east region with the Spur Project (17,929 hectares). Mustang
has also established a 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
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts
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, ar e made as of 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; the completion of future work on the Projects;
the potential synergy of the Projects with the Company’s existing mineral claims . 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 and that the Company will be able to
integrate the Projects into its existing business. 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 forward -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 or financial out -look that are incorporated by reference herein,
except in accordance with applicable securities laws.