Mustang Energy Corp. Provides Update on Geophysical Reinterpretation and Targeting
Mustang Energy Corp. Provides Update on Geophysical
Reinterpretation and Targeting
VANCOUVER, British Columbia, May 2 , 202 5 (GLOBE NEWSWIRE) -- Mustang Energy
Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to provide
an update on its ongoing geophysical reprocessing, reinterpretation and targeting work in
collaboration with leading geophysical consultants Resource Potentials Ltd. (“ResPot”) of Perth,
Australia. This initiative reflects Mustang’ s commitment to advancing exploration across its
Athabasca Basin uranium projects through cost-effective, technically sound data integration.
Geophysical Reinterpretation Methodology
Following a detailed historical data compilation, ResPot has reprocessed and interpreted a suite
of high-resolution airborne magnetic, radiometric, gravity, and electromagnetic ( “EM”) datasets
over Mustang’s properties. These datasets were sourced from open-file surveys by provincial and
federal agencies and integrated with digital elevation models, geological maps, mineral
occurrence records, drilling and geochemical data, and satellite imagery in GIS software.
Magnetic datasets w ere utilized to infer the depth and architecture of the Athabasca Basin
unconformity—a critical control for high- grade uranium mineralization. EM datasets, including
VTEM, MegaTEM, GeoTEM, ZTEM, and VLF surveys, were processed to identify conductive
anomalies potentially related to graphitic pelite units and clay alteration zones.
Ratios and products of radioelement concentrations (K, Th, U) were computed to enhance subtle
radiometric anomalies, despite their susceptibility to attenuation by surface cover. The integrated
interpretation has revealed multiple areas of interest coincident EM -magnetic-low anomalies
characteristic of basement-hosted unconformity-related uranium deposits.
A key component of this work has involved the continuous interpretation of geophysical data to
guide targeted mineral claim staking, alongside the review of internal and public datasets, as
Mustang evaluates potential project acquisitions and joint venture opportunities.
In addition to the reprocessing, reinterpretation, and targeting of historical datasets, ongoing
interpretation is also underway on newly acquired airborne geophysical surveys. These include a
MobileMT survey recently completed over the Yellowstone Project and an Xcite™ TDEM survey
over the Dutton Project. Further analysis will also be conducted on the upcoming Xcite™ TDEM
survey with radiometric data acquisition planned for the Spur Project in May. These contemporary
datasets are expected to complement the historical compilation work and enhance Mustang’s
ability to prioritize drill-ready targets across its portfolio.
Targeting:
The work conducted thus far, has resulted in targeting based off of the open source geophysical
datasets over Mustang’s Athabasca Basin Uranium portfolio. Areas of interest have been
identified based on this reinterpretation:
914W Project:
Positioned approximately 45 km south of the Athabasca Basin edge, this project hosts an EM
conductor anomaly coinciding with a magnetic low and subtle radiometric uranium signature
(Figure 1). Furthermore, the project lies along trend with known uranium and REE occurrences.
The company plans to initiate a field-based prospecting program this spring to further assess
these priority targets.
Figure 1: 914W Project claim and mineral occurrences over a mosaic EM decay colour image from 3 adjacent
airborne EM surveys where hot colours indicate electrical conductors, all overlying greyscale magnetic derivative
background image. An EM conductor of interest is coincident with a magnetic-low anomaly and is considered to be a
priority target area. (map layers retrieved from: Government of Saskatchewan Mining and Petroleum GeoAtlas and
Natural Resources Canada)
Spur Project:
Located about 30 km south of the Basin, Spur is intersected by regional magnetic -low
and EM conductor trends (Figure 2). Radiometric anomalies are evident, though muted
by surface cover. Mustang has engaged Axiom Exploration to deploy the Xcite™ TDEM
system with co-collection of radiometrics to in-fill areas not covered by modern day EM
survey techniques. This project, like 914W, is also considered prospective for REE
mineralization based on regional occurrence trends.
Figure 2: Spur project claims, mineral occurrences and select interpretation lines over a ternary radiometric image
(left) where K is red, Th is green and U is blue, and late EM decay time images from 3 adjacent airborne EM surveys
(right) where hot colours indicate electrical conductors, all overlying greyscale magnetic derivative background
images. Note that this are no available EM datasets over the main part of the Spur claim. (map layers retrieved from:
Government of Saskatchewan Mining and Petroleum GeoAtlas and Natural Resources Canada)
Ford Lake:
Comprised of 3 non- contiguous claim blocks and located within the Basin near the
southern edge, with interpreted depths to the unconformity at ~400 meters or less. Ford
Lake features a strong, untested EM conductor anomaly coincident with a magnetic -low
trend. This anomaly is spatially associated with a known uranium occurrence to the
northeast2 and a subtle U -Th radiometric trend. Follow -up mapping and sampling are
recommended (Figure 3).
Figure 3 : Ford Lake project claims and mineral occurrences over a mosaic VTEM EM decay colour image from 3
separate airborne EM surveys where hot colours indicate electrical conductors, all overlying greyscale magnetic
derivative background image. An EM conductor of interest is coincident with a magnetic-low anomaly and located
along an interpreted fold axis from a known U occurrence. (map layers retrieved from: Government of Saskatchewan
Mining and Petroleum GeoAtlas and Natural Resources Canada)
Cigar Lake East:
Comprised of 2 non- contiguous claim blocks and located within the Basin near the
eastern edge, with interpreted depths to the unconformity at ~200 meters or less. Cigar
Lake East features multiple parallel NE-SW trending magnetic-low trends, some of which
have been historically drill tested and host U mineralisation, including the Rabbit Lake
Uranium Mine located approximately 40km to the NE. A magnetic-low anomaly trend
within Mustang claims is coincident with EM conductor anomalies and remains untested
by drilling.
Figure 4: Cigar Lake East project claims, historic drillhole collars and mineral occurrences over a mosaic VTEM EM
decay colour image from 2 separate airborne EM surveys where hot colours indicate electrical conductors, all
overlying a greyscale magnetic derivative background image. An EM conductor of interest is coincident with a
magnetic-low anomaly trend that has not been historically drill tested, along trend from the Rabbit Lake U Mine and
adjacent to known mineralised trends. (map layers retrieved from: Government of Saskatchewan Mining and
Petroleum GeoAtlas and Natural Resources Canada)
“Our partnership with ResPot has yielded valuable insights that advance Mustang’ s uranium
exploration strategy, ” said Nicholas Luksha, CEO and Director of Mustang Energy. “ By
leveraging existing datasets and high- end geophysical modelling, we are refining drill targets
while optimizing exploration spend. These interpretations form the basis of our 2025 field program
and inform our ongoing project evaluation efforts.”
All geophysical data contained in this news release is not definitive, and the results are
still at an early stage of interpretation, with no guarantee of a mineral discovery.
About Resource Potentials:
Resource Potentials Ltd. is a consulting and contracting business specialising in geophysical
survey design, acquisition, processing, modelling, inversion, data integration, interpretation and
drill hole targeting. Based in Perth, Western Australia and established in 2001, ResPot provide
their clients with expertise and products that fit their requirements and budgets for exploration,
drilling and mining operations. ResPot is highly experienced in processing, interpreting and
modelling potential field (magnetic and gravity) and other geophysical surveys such as
radiometrics, EM, IP, GPR and seismic data in a variety of geological settings for commodities
including; gold, ir on, base metals, uranium, REE, manganese, coal, diamonds, oil and gas,
groundwater, etc.
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, and a registered member of the
Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person
as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Mustang Energy Corp.:
Mustang Energy 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 the 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 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 successful commencement and completion of the
MobileMT survey, and the timely delivery of the results from the MobileMT survey. 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 complete the MobileMT survey as planned. 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 res ults 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 approp riate 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.