Mustang Energy Corp. Receives Exploration Permit for 914W Uranium Project
Mustang Energy Corp. Receives Exploration Permit
for 914W Uranium Project
VANCOUVER, British Columbia, July 3, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC,
OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to announce it has received exploration
permits from the Saskatchewan Government, allowing for ground-based exploration activities at the
914W Uranium Project (the “Project”) south of the Athabasca Basin, Saskatchewan.
The permit includes Crown Land Work Authorization, Aquatic Habitat Protection Permit, Forest Product
Permit and Temporary Work Camp Permit. This authorizes Mustang to carry out mineral exploration
activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling. The
approved permits are valid until April 30, 2028.
As part of the permit conditions, Mustang will continue to engage with local communities to address any
ongoing concerns and ensure sustainable project implementation. Consultation and environmental
stewardship remains a priority, with specific measures to minimize disturbance and support reclamation
efforts.
Mustang purchased an interest in the Project pursuant to an option agreement (the “Option Agreement”)
with Skyharbour Resources Ltd. whereby Mustang may acquire a 75% interest in the Project by satisfying
certain conditions. Please refer to the Company’s news release dated November 13, 2024, as filed under
the Company’s SEDAR+ profile, for further details regarding the Option Agreement.
About the 914W Uranium Project
The Project consists of one claim covering 1,260 hectares. It is situated approximately 48 km southwest
of Cameco’s Key Lake Operation, offering favourable logistics and access via Highway 914. The Project is
positioned within the Western Wollaston Domain, known for unconformity/basement hosted uranium
mineralization. The Project hosts favorable geology with local graphite bearing assemblages. Immediately
to the north of the 914W property is the Scurry Rainbow Zone E 1 and the Don Lake Trenches 2, where up
to 1,288 ppm U was encountered in drill hole ML-1 1, and surface prospecting revealed up to 0.64% U 3O8
in a trench at Don Lake Zone E2. While historical exploration conducted several geophysical and geological
surveys over portions of the property, most of the Project remains underexplored. Mustang sees notable
potential for advancing uranium and rare earth element (REE) exploration on this property.
The Company advises that, notwithstanding the proximity of location, discoveries of minerals on or near
the Scurry Rainbow Zone E, Don Lake Trenches, and Cameco’s Key Lake Operation, and any promising
results thereof are not necessarily indicative of the mineralization of, or located on the Project, or the
Company’s ability to commercially exploit the 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.
Figure 1: Location Map for the 914W Uranium Project, Northern Saskatchewan.3
References
1. SMDI# 1961, Drill hole ML-1 or Scurry Rainbow E Zone, retrieved from:
https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1961
2. SMDI# 1983, Don Lake Radioactive Zones C, D, and E, retrieved from:
https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1983
3. Saskatchewan GeoAtlas, retrieved from:
https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas
Qualifying Statement
The scien Ɵfic and technical informa Ɵon 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 GeoscienƟsts of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by NaƟonal
Instrument 43-101.
About Mustang Energy Corp.:
Mustang Energy Corp. is a Canadian mineral explora Ɵon company focused on the discovery and
development of high- potenƟal uranium and criƟcal mineral assets. The company holds a por ƞolio of
147,153 hectares of strategically located proper Ɵes in Saskatchewan's Athabasca Basin —one of the
world’s premier uranium districts. Mustang is advancing early- stage explora Ɵon through modern
techniques and a disciplined, data- driven approach. The Company is commi Ʃed to building long -term
value through responsible exploraƟon and a focus on high-impact targets in underexplored areas.
For further informaƟon, please contact:
Mustang Energy Corp.
AƩenƟon: 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 informa Ɵon that may cons Ɵtute forward -looking
informaƟon within the meaning of applicable Canadian securiƟes laws. Forward-looking statements relate
to future events or future performance and reflect th e expecta Ɵons or beliefs of management of the
Company regarding future events. Generally, forward- looking statements and informa Ɵon can be
idenƟfied by the use of forward -looking terminology such as “intends”, “believes” or “an Ɵcipates”, or
variaƟons of such words and phrases or statements that certain acƟons, events or results “may”, “could”,
“should”, “would” or “occur”. This informa Ɵon 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 limita Ɵon, statements regarding discussions of future plans, es Ɵmates and forecasts and
statements as to management's expecta Ɵons and inten Ɵons with respect to, among other things, the
future potenƟal of the Project and the compleƟon of future work on th e Project. In making the forward-
looking statements in this news release, the Company has applied several material assumpƟons, including
without limitaƟon the assumpƟon that the Company will be able to conƟnue exploring its properƟes given
various environmental and economic factors outside of its control and that the Company will conƟnue to
maintain the OpƟon Agreement in good standing. Although management of the Company has aƩempted
to idenƟfy important factors that could cause actual results to di ffer materially from those contained in
forward-looking statements or forward-looking informaƟon, there may be other factors that cause results
not to be as anƟcipated, esƟmated 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 an Ɵcipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements and
forward-looking informa Ɵon. Readers are cau Ɵoned that reliance on such informa Ɵon may not be
appropriate for other purposes. The Company does not undertake to update any forward-looking
statement, forward-looking informaƟon or financial out -look that are incorporated by reference herein,
except in accordance with applicable securiƟes laws.