Mustang Energy Corp. Initiates Exploration at Cluff Lake North Uranium Project
Mustang Energy Corp. Initiates Exploration at Cluff
Lake North Uranium Project
VANCOUVER, British Columbia, June 26, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC,
OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to announce the commencement of its
field exploration activities at the Cluff Lake North Project (the “Project”), located in a prospective region
known for its mineral potential in the world-renowned Athabasca Basin. The Company recently entered
into an option agreement (the “Option Agreement”) with Thunderbird Resources Ltd. (“Thunderbird”) to
acquire an undivided 80% interest in the Project. Please refer to the Company’s news release dated June
4, 2025 and June 16, 2025, as filed under the Company’s SEDAR+ profile, for further details regarding the
Option Agreement.
The field program at the Project will involve surface prospecting activities, including detailed rock
sampling, aimed at further refining target areas and outlining mineralization and alteration. The sampling
program will be carried out over ten days. Results from this phase of exploration are expected to inform
further exploration efforts, including drill targeting.
“We are pleased to initiate exploration at our Cluff Lake North project. The project lies in a structurally
complex and underexplored area with favorable geology for uranium discovery. We aim to generate high-
quality data to guide future drilling and position Cluff Lake North as a key asset in our exploration
pipeline.” said Nick Luksha CEO of Mustang Energy Corp.
About Cluff Lake North Uranium Project
The Cluff Lake North Uranium Project comprises a group of five mineral claims located in a prospective
area around 12 km north-east of the historical Cluff Lake uranium mine on the western flank of Canada’s
world-class Athabasca Basin.
Figure 1: Cluff Lake North Project Overview1, 2
Thunderbird completed a MobileMT survey in 2024 which delineated several basement conductors in the
Moose Lake area of the project, which are potential pathways for uranium mineralising fluids (see ASX:
THB announcement dated 17th October 2024 titled “Multiple Uranium targets identified by detailed EM
surveys at Cluff Lake Project”).
In the Moose Lake area, three high-priority drill target areas were defined by the MobileMT survey, one
of which is coincident with a previously defined gravity/EM target. These targets are located within an
interpreted structural corridor which extends north-northeast from the Cluff Lake Uranium deposits. The
targets (ML-01, -02, -03) in this area are both basement -hosted, similar to the Cluff Lake deposits, and
unconformity-related. See Figure 1.
References:
1. Saskatchewan Mineral Deposits Index, Trench OHT-1 (U-Pb), SMDI# 2068, Retrieved from
https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2068
2. Saskatchewan GeoAtlas, 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 Energy Corp. is a Canadian mineral exploration company focused on the discovery and
development of high -potential uranium and critical mineral assets . The company holds a portfolio of
147,153 hectares of strategically located properties in Saskatchewan's Athabasca Basin —one of the
world’s premier uranium districts. Mustang is advancing early -stage exploration through modern
techniques and a disciplined, data -driven approach. The Company is committed to building long -term
value through responsible exploration and a focus on high-impact targets in underexplored areas.
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, 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 mineral claims held by the Company and the completion of future work on th e
Project. 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 exploration work will produce the intended results. 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.