Mustang Energy Receives Exploration Permit for the Dutton Uranium Project, Saskatchewan
Mustang Energy Receives Exploration Permit for the
Dutton Uranium Project, Saskatchewan
VANCOUVER, British Columbia, March 27, 2025 (GLOBE NEWSWIRE) -- Mustang Energy
Corp. (CSE: MEC, OTC:MECPF, FRA:92T ) (the “ Company” or “ Mustang”) is pleased to
announce that it has received exploration permits from the Government of Saskatchewan, allowing
for ground-based exploration activities at the Dutton Uranium Project (the “Dutton Project”) in
the Athabasca Basin, Saskatchewan.
The approved permits are valid from April 1, 2025 to March 31, 2028 and authorize the Company
to carry out mineral exploration activities such as trail construction, line -cutting, ground
geophysical surveys, and diamond drilling. Mustang recently completed an Xcite™ TDEM survey
over a portion of the Dutton project and are currently awaiting results. The Company looks to
initiate further exploration activities aimed at further assessing the viability of the Dutton Project.
As part of the permit conditions, Mustang will continue to engage with local communities to
address any ongoing concerns and ensure sustainable project implementation. Mustang currently
holds an Exploration Agreement with English River First Nation. Consultation and environmental
stewardship remains a priority, with specific measures to minimize disturbance and support
reclamation efforts.
Nick Luksha, CEO, commented: “Securing these exploration permits is a nother step forward for
the Company as we continue to advance our projects in this highly prospective region. This furthers
our commitment to unlocking the property's full potential through systematic exploration. We look
forward to commencing our field programs and generating valuable data to guide future work.”
About the Dutton Project
The 100% owned Dutton Project spans 7,633 hectares over three adjoining claims in the Southern
Athabasca Basin, Saskatchewan. Approximately 20 kilometres to the east of the Dutton Project
lies the Virgin River Shear Zone which hosts known high-grade uranium deposits such as Cameco
Corp’s Centennial Deposit. The Dutton Project is positioned just west of the Cable Bay Shear Zone
within the Mudjatik Domain , a major structural discontinuity which hosts several uranium
occurrences. The Dutton P roject encompasses a diabase dyke complex, including conductive
anomalies and elevated radioactivity .2 Historical exploration (1978 –1981) identified several
features of interest, including weakly conductive EM anomalies, biogeochemical uranium
enrichment, and radioactive dykes.3 The Dutton Project has never been drill-tested, and will benefit
from additional geophysical surveys and surface sampling to aid in future drill target generation.
Figure 1: Overview of Mustang Energy Corp's Dutton Project1
References:
1. Saskatchewan GeoAtlas, Retrieved from:
https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas
2. Saskatchewan Mineral Deposits Index, SMDI# 2058, Abraham Bay Radioactive Diabase Dykes,
Retrieved from: https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2058
3. Saskatchewan Mineral Assessment Database, Report# 74G06-0024, Retrieved from: http://mineral-
assessment.saskatchewan.ca/Pages/BasePages/Main.aspx
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.
Adjacent Property Disclaimer:
This news release includes references with respect to uranium deposits which are located near the
Dutton Project , such as Cameco Corp’s Centennial Deposit and deposits w ithin the Mudjatik
Domain. The Company advises that, notwithstanding their proximity of location, discoveries of
minerals on nearby properties and any promising results thereof are not necessarily indicative of
the mineralization of, or located on the Dutton Project, or the Company’s ability to commercially
exploit the Dutton 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.
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 77,318 hectares in around the Atha basca Basin. Mustang's
flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while
its Cigar Lake East and Roughrider South projects span 3,442 hectares to the north and the Spur
Project to the south covering 17,929 h ectares. Mustang has also established its 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, including the Dutton Project; the completion of future work on the Dutton Project;
and the results from future exploration work providing insight to the Company of the Dutton Project’ s
viability; 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 the Dutton Project 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 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.