Mustang Energy Corp. Recaps Milestones and Strategic Progress in 2025
Mustang Energy Corp. Recaps Milestones and Strategic Progress in 2025
Vancouver, British Columbia, February 6, 2026 – Mustang Energy Corp. (“ Mustang” or the “ Company”)
(CSE: MEC, OTC: MECPF, FRA: 92T) is pleased to provide a comprehensive recap of its key corporate,
exploration, and financing achievements throughout 2025, underscoring the Company’s continued
advancement as a uranium and critical mineral exploration company in Canada.
Exploration Advancement and Field Programs
Mustang executed an active and disciplined exploration program across several core project areas during
2025:
Surprise Creek Uranium-Copper Project (Saskatchewan)
The Company initiated its maiden diamond drilling campaign targeting priority geophysical and structural
targets along the Surprise Creek Fault and the Bob Lake Copper showing. This marked a major operational
milestone and represented the first drill testing of high -priority zones identified through earlier
geophysical surveys and geological interpretation.
Cluff Lake Area Properties (Saskatchewan)
Following the acquisition of the Cluff Lake area properties, the Company completed a field prospecting
and reconnaissance program designed to evaluate priority target areas and refine the geological
understanding of the project. The program included mappin g, sampling, and target verification work,
establishing a foundation for future, more advanced exploration activities.
Regional Fieldwork
Ground-based exploration programs were conducted across Mustang’s broader project portfolio, including
geological mapping, prospecting, sampling, and geophysical surveys. These programs refined drill
targeting and enhanced the Company’s understanding of structural controls and alteration systems
associated with uranium and critical mineral mineralization.
914W Uranium Project (Saskatchewan)
Mustang secured key exploration permits from the Government of Saskatchewan, authorizing expanded
ground exploration and drilling activities. This permitting milestone positions the project for more
advanced work programs moving forward.
Portfolio Expansion and Strategic Property Acquisitions
During 2025, Mustang strengthened and expanded its project portfolio through strategic acquisitions and
staking initiatives:
• The Company acquired the Surprise Creek Uranium-Copper Project in Saskatchewan, securing a
prospective asset within a structurally favorable corridor and advancing it to the drill stage during
the year.
• Mustang also acquired the Cluff Lake area properties, increasing its presence in the western
Athabasca Basin near historically significant uranium -producing districts and enhancing its
exposure to underexplored, high-potential ground.
• The Company staked the Onyx Uranium Project and the Bridal Veil Copper -Silver Project in
Newfoundland and Labrador, broadening its exposure to prospective uranium and critical mineral
terrains.
• The Company completed the acquisitions of the Nucleus Property and the Yellowstone Property,
further expanding its pipeline of prospective uranium exploration assets and reinforcing its
strategy of consolidating ground in favorable geological settings.
• In collaboration with Skyharbour Resources Ltd., Mustang staked an additional claim at the 914W
Uranium Project, increasing the project’s footprint within a highly prospective uranium district.
These additions reflect Mustang’s strategy of consolidating prospective ground in established uranium
jurisdictions while building a diversified pipeline of discovery opportunities.
Strategic Financing and Capital Raised
Throughout 2025, Mustang successfully completed multiple financing initiatives to support exploration
and corporate development. The Company raised aggregate gross proceeds of approximately $3.58 million
through a series of non-brokered private placements completed during the year. Proceeds were directed
toward exploration expenditures, project advancement, and general working capital.
Investor Engagement and Market Presence
Mustang continued to build market awareness through proactive investor communications, media
features, and participation in industry forums. These initiatives supported increased visibility of the
Company’s exploration strategy and long-term growth objectives.
Outlook for 2026
As Mustang enters 2026, the Company plans to advance its high-priority properties and exploration targets
through additional field work, including expanded drilling programs. The Company anticipates that work
will focus on follow-up drilling at key target areas, further geophysical surveys, geological modeling, and
continued target generation across the portfolio.
Consulting Agreements
The Company is also pleased to announce that, on February 4, 2026, it entered into separate consulting
agreements (the “Consulting Agreements”) with three arm’s-length parties. Each Consulting Agreement
will remain in effect until terminated by either party in accordance with its terms. Under the Consulting
Agreements, the consultants will provide corporate advisory services, including market research, strategic
advice regarding potential mergers and acquisitions, and assistance with general business develo pment.
As consideration for the Consulting Agreements, the Company issued an aggregate of 4,000,000 restricted
share units (the “RSUs”) of the Company to the consultants, which vested immediately. Upon vesting, each
RSU is redeemable for one common share in the Capital of the Company.
Qualifying Statement
The scientific and technical information in this news release has been reviewed and approved by Troy
Marfleet, P .Geo., Technical Advisor for Mustang Energy, a registered member of the Professional Engineers
and Geoscientists of Saskatchewan. Mr. Marfleet 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-impact uranium and critical mineral assets. With a strategic portfolio of properties in
Saskatchewan’s Athabasca Basin and emerging projects in Newfoundland and Labrador, Mustang is
positioned to capitalize on growing global demand for nuclear fuel and essential minerals critical to the
energy transition.
On behalf of the board of directors
“Nicholas Luksha”
Nicolas Luksha
CEO and Director
For further information, please contact:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Forward-Looking Statements: 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, refe rred 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 mineral claims held by the Company and the completion of future work
on its projects. 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. 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 o n 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.