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Hamilton Spectator
23-07-2025
- Business
- Hamilton Spectator
Greenridge Exploration Commences Airborne Electromagnetic Survey for the Flying Vee Nickel Project in Northern Saskatchewan
VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Greenridge Exploration Inc. ('Greenridge' or the 'Company') (CSE: GXP | FRA: HW3 | OTCQB: GXPLF), is pleased to announce it has commenced a helicopter-borne time-domain electromagnetic ('HTDEM') survey (the 'Program') on the Flying Vee Nickel Project ('Flying Vee', or the 'Project'). Axiom Exploration Group Ltd. of Saskatoon, Saskatchewan, Canada ('Axiom') is contracted to perform a high-resolution Xcite™ survey at the Project. Flying Vee consists of seven (7) mineral claims comprising a total area of 10,734 hectares (26,524 acres) located approximately twenty-five (25) kilometres north of Stony Rapids, Saskatchewan. The 2025 Program is designed to further delineate known conductive structural corridors at the Project that could be prospective for hosting sulphide mineralization, including metals such as nickel, copper, cobalt and gold. Russell Starr, Chief Executive Officer of the Company stated, 'We are pleased to announce a high-resolution HTDEM survey at Flying Vee, with the goal of improving the definition of conductive geological features on the Project. The results will be integrated with historical survey data to guide further exploration and add a higher degree of confidence to drill targeting.' Highlights of the Upcoming Flying Vee Airborne Survey Figure 1. Axiom's Xcite™ HTDEM survey in progress About Flying Vee Flying Vee is located approximately twenty-five (25) kilometres north of Stony Rapids, Saskatchewan, and lies within the Tantato Domain, otherwise known as the East Athabasca Mylonite Triangle, which forms a segment of the Snowbird Tectonic Zone. Numerous mineral showings are found within and near Flying Vee, including the on-property Nickel Lake East and West nickel showings, and the off-property Axis Lake nickel-copper deposit ('Axis Lake') located approximately fifteen (15) kilometres to the southwest within Greenridge's 100%-owned Firebird Nickel Project (please see Figure 2). Figure 2. Flying Vee Project Location, Eastern Athabasca Basin Region Nickel-Copper-Cobalt Exploration at Flying Vee Two main periods of historical exploration by several exploration companies are documented at Flying Vee from 1956 to 1988 and from 2007 to 2009, consisting of prospecting and mapping, trenching, airborne and ground geophysical surveys, and diamond drilling. Several trenches were completed between 1957 and 1962 in the eastern part of the Project area south of Nickel Lake that outlined norite-hosted nickel-copper mineralization at surface. Thirteen (13) shallow diamond drillholes were completed in 1964 with the best result in Hole #3, which returned 0.89% nickel and 0.32% copper over 0.79 metres from 11.59 to 12.38 metres.1 Greenridge terms this area as the 'Nickel Lake East' showing. In 2022, ALX Resources Corp., ('ALX') a company acquired by Greenridge in December 2024, revisited Nickel Lake East to prospect the surface trace of a 2022 airborne EM anomaly and collected a grab sample that returned 1.11% nickel and 0.42% copper from a historical trench. ALX's subsequent geophysical modeling of the conductive anomaly at Nickel Lake East showed that none of the thirteen holes drilled in 1964 intersected the main body of the 2022 EM conductor, despite five of the shallow drill holes intersecting modest values of nickel.2 Airborne electromagnetic surveys completed in 2007 and 2008 by Strongbow Exploration Inc. ('Strongbow') detected a favorable conductive zone with a coincident magnetic anomaly at the Nickel Lake West showing. In 2008, Strongbow tested the Nickel Lake West anomaly with drillhole NL08-01, intersecting semi-massive pyrrhotite along with chalcopyrite and minor pentlandite that returned 1.89% nickel, 0.96% copper, and 0.11% cobalt over a 0.80 metre interval from 80.15 to 80.95 metres (measured downhole drill depths, please see Figure 3).3 Figure 3. Strongbow's hole NL08-01 returned 1.89% nickel, 0.96% copper and 0.11% cobalt Gold Exploration In 1968, a gossan zone was discovered at Day Lake within the current Project area, which hosts disseminated pyrite and arsenopyrite mineralization. A selected grab sample assayed 0.81 ounces/ton (27.77 grams/tonne) gold.4 Diamond drilling was carried out in the Day Lake area in 1986 by Colchis Resources, intersecting anomalous gold and silver mineralization. ALX revisited the Day Lake gold showing in 2020 and sampled anomalous gold concentrations ranging up to 8.34 grams/tonne gold from arsenopyrite-bearing gossanous outcrop and historical pits.5 Greenridge's 2025 Exploration Goals at Flying Vee Greenridge plans to integrate the results of the 2025 HTDEM survey with historical geological and geophysical data to better delineate the footprint of known mineralized zones at Flying Vee. The Company considers Flying Vee underexplored in the modern era of mineral exploration and believes that the Project has the potential to host an economic base metals deposit. The Company holds an active exploration permit for surface prospecting and sampling, airborne and ground geophysics, and drilling of up to 100 drill holes, valid to March 31, 2028. Statement of Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, P. Geo., Technical Advisor and a geological consultant to the Company and a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Hillacre has examined information regarding the historical exploration at the Project, which includes a review of the historical sampling, analytical and procedures underlying the information and opinions contained herein. Management cautions that historical results collected and reported by operators unrelated to Greenridge have not been verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work at the Project. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Project. About Greenridge Exploration Inc. Greenridge Exploration Inc. (CSE: GXP | OTCQB: GXPLF | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in Canada. The Company owns or has interests in 27 projects and additional claims covering approximately 335,825 hectares with considerable exposure to potential uranium, lithium, nickel, copper and gold discoveries. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects. Greenridge has one of the largest uranium property portfolios in Canada consisting of 16 projects and additional prospective claims covering approximately 221,509 hectares. The Company has opportunities to realize value in a further 11 strategic metals projects which include lithium, nickel, gold, and copper exploration properties totalling approximately 114,316 hectares. Project highlights include: The Company has strategic partnerships which includes properties being operated and advanced by Denison Mines Corp. and Uranium Energy Corp. The Company's management team, board of directors, and technical team brings significant expertise in capital raising and advancing mining projects and is poised to attract new investors and raise future capital. References: 1 – Saskatchewan Mineral Assessment Database ('SMAD'), Report #74P12-002, 1964. 2 – Flying Vee Nickel Project: ALX Resources Corp. News Release dated November 8, 2022. 3 – Saskatchewan Mineral Assessment Database ('SMAD'), Report #74P11-0016, 2008. 4 – Saskatchewan Mineral Assessment Database ('SMAD'), Report #74O07-0021, 1968. 5 – Flying Vee Nickel Project: ALX Resources Corp. News Release dated July 27, 2020. 6 – Black Lake: UEX Corporation News Release dated October 12, 2004. 7 – Gibbons Creek: Lakeland Resources Inc. News Release dated January 8, 2014. 8 – McKenzie Lake: ALX Resources Corp. New Release dated November 7, 2023. 9 – Nut Lake: 1979 Assessment Report (number 81075) by Pan Ocean Oil Ltd. 10 – Nut Lake: Greenridge Exploration Inc. News Release dated February 19, 2024. 11 – Firebird Nickel: ALX Resources Corp. New Release dated April 15, 2020. 12 – Electra Nickel: ALX Resources Corp. New Release dated July 20, 2022. On Behalf of the Board of Directors of Greenridge Russell Starr Chief Executive Officer, Director Telephone: +1 (778) 897-3388 Email: info@ Disclaimer for Forward-Looking Information This news release includes certain 'Forward-Looking Statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' under applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information. Forward-looking statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Greenridge, future growth potential for Greenridge and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of uranium, nickel, copper, gold, cobalt and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Greenridge's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. This news release contains 'forward-looking information' within the meaning of the Canadian securities laws. Statements, other than statements of historical fact, may constitute forward looking information and include, without limitation, statements with respect to the Project and its mineralization potential; the Company's objectives, goals, or future plans with respect to the Project; further exploration work on the Project in the future; and completion of the Program. With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial and economic advice that the Company has received is reliable and are based upon practices and methodologies which are consistent with industry standards. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of uranium, nickel, copper, gold, cobalt and other metal deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting the metals industry and increased competition in the metals industry for properties, qualified personnel, and management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release. The photos accompanying this announcement are available at
Yahoo
12-06-2025
- Business
- Yahoo
Mustang Energy Commences an Airborne Survey at Spur Project South of the Athabasca Basin, Saskatchewan
VANCOUVER, British Columbia, June 11, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to announce that it has initiated an Aerial Electromagnetic Survey (Xcite™ TDEM) with Radiometrics over the Spur Project (the 'Project') located south of the Athabasca Basin, Saskatchewan. The Project is located in a favorable region prospective for uranium, rare earth elements (REEs), and base metal mineralization. The Xcite™ TDEM survey with Radiometrics will be flown by Axiom Exploration Group. The airborne survey will encompass the portion of the claim package covering approximately 10,000 hectares which has not been covered by modern day electromagnetic (EM) survey techniques. The airborne survey aims to precisely locate EM and radiometric anomalies, and aid in geological interpretations on the property advancing exploration targeting. About Xcite™ TDEM Xcite™ is a new generation of helicopter-borne time-domain electromagnetic (TDEM) systems developed by New Resolution Geophysics (NRG™). Axiom is an exclusive provider of this service in North America. This state-of-the-art technology provides an efficient alternative to prior TDEM technologies for mineral exploration. The system utilizes a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter. The Xcite™ system offers improved signal clarity, enabling the detection of subtle subsurface features. It features a programmable waveform with a fast turn-off time, allowing for flexibility in data acquisition and improved resolution of both shallow and deep 1: Mustang Energy Corp. Spur Project Location Map1 About the Spur Project The Project comprises ten claims covering 23,680 hectares. It is located just south of the Athabasca Basin in northern Saskatchewan, a region globally renowned for its high-grade uranium deposits. The property is approximately 40 kilometers southeast of Cameco's Key Lake Mill Operation and 20 kilometers southwest of Skyharbour Resources/Terra Clean Energy's Fraser Lakes Zone B deposit (Figure 1). The Project's geological setting combines Proterozoic basement rocks of the Wollaston Group and uraniferous pegmatites1, presenting potential for uranium, thorium and rare earth element (REE) exploration. The Project offers lower cost exploration due to the absence of Athabasca Sandstone cover. Adjacent properties host high-grade surface grab samples including the Pipe Lake Showing with up to 8.0% U₃O₈ (sample # R69-10)2 within a hornblende-rich pegmatite 2.5 km northeast of the Project boundary.2 The Red October Showing, east of the Project boundary, shows grab sample assays of up to 1.93% U (sample # JBELR063)3 within syenite, and an outcrop chip sample through semipelitic gneiss showing 1.34% U (sample # AGELR008)3 over 1 meter. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences which are located near the Project, including the Pipe Lake Showing and Red October Showing. Mustang considers this information to be relevant to exploration; however, these results have not been physically verified by Mustang's Qualified Person. 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 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. References: Saskatchewan GeoAtlas, Saskatchewan Mineral Deposits Index. SMDI# 1005, Saskatchewan Mineral Deposits Index. SMDI# 5219, Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang, 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 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 (23,680 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 Forward-Looking InformationThis 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 mineral claims held by the Company, including the Project; the timing for the commencement of the Xcite™ TDEM survey; and the potential capabilities of the Xcite™ TDEM 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 that the results of the Xcite™ TDEM survey will provide the anticipated insights. 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. 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Yahoo
12-06-2025
- Business
- Yahoo
Mustang Energy Commences an Airborne Survey at Spur Project South of the Athabasca Basin, Saskatchewan
VANCOUVER, British Columbia, June 11, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to announce that it has initiated an Aerial Electromagnetic Survey (Xcite™ TDEM) with Radiometrics over the Spur Project (the 'Project') located south of the Athabasca Basin, Saskatchewan. The Project is located in a favorable region prospective for uranium, rare earth elements (REEs), and base metal mineralization. The Xcite™ TDEM survey with Radiometrics will be flown by Axiom Exploration Group. The airborne survey will encompass the portion of the claim package covering approximately 10,000 hectares which has not been covered by modern day electromagnetic (EM) survey techniques. The airborne survey aims to precisely locate EM and radiometric anomalies, and aid in geological interpretations on the property advancing exploration targeting. About Xcite™ TDEM Xcite™ is a new generation of helicopter-borne time-domain electromagnetic (TDEM) systems developed by New Resolution Geophysics (NRG™). Axiom is an exclusive provider of this service in North America. This state-of-the-art technology provides an efficient alternative to prior TDEM technologies for mineral exploration. The system utilizes a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter. The Xcite™ system offers improved signal clarity, enabling the detection of subtle subsurface features. It features a programmable waveform with a fast turn-off time, allowing for flexibility in data acquisition and improved resolution of both shallow and deep 1: Mustang Energy Corp. Spur Project Location Map1 About the Spur Project The Project comprises ten claims covering 23,680 hectares. It is located just south of the Athabasca Basin in northern Saskatchewan, a region globally renowned for its high-grade uranium deposits. The property is approximately 40 kilometers southeast of Cameco's Key Lake Mill Operation and 20 kilometers southwest of Skyharbour Resources/Terra Clean Energy's Fraser Lakes Zone B deposit (Figure 1). The Project's geological setting combines Proterozoic basement rocks of the Wollaston Group and uraniferous pegmatites1, presenting potential for uranium, thorium and rare earth element (REE) exploration. The Project offers lower cost exploration due to the absence of Athabasca Sandstone cover. Adjacent properties host high-grade surface grab samples including the Pipe Lake Showing with up to 8.0% U₃O₈ (sample # R69-10)2 within a hornblende-rich pegmatite 2.5 km northeast of the Project boundary.2 The Red October Showing, east of the Project boundary, shows grab sample assays of up to 1.93% U (sample # JBELR063)3 within syenite, and an outcrop chip sample through semipelitic gneiss showing 1.34% U (sample # AGELR008)3 over 1 meter. Adjacent Property Disclaimer: This news release includes references with respect to uranium occurrences which are located near the Project, including the Pipe Lake Showing and Red October Showing. Mustang considers this information to be relevant to exploration; however, these results have not been physically verified by Mustang's Qualified Person. 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 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. References: Saskatchewan GeoAtlas, Saskatchewan Mineral Deposits Index. SMDI# 1005, Saskatchewan Mineral Deposits Index. SMDI# 5219, Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang, 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 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 (23,680 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 Forward-Looking InformationThis 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 mineral claims held by the Company, including the Project; the timing for the commencement of the Xcite™ TDEM survey; and the potential capabilities of the Xcite™ TDEM 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 that the results of the Xcite™ TDEM survey will provide the anticipated insights. 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. 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Yahoo
05-02-2025
- Business
- Yahoo
Mustang Energy Engages Axiom Exploration for Airborne Geophysical Survey over the Dutton Project
VANCOUVER, British Columbia, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the 'Company' or 'Mustang') is pleased to announce that it has engaged Axiom Exploration Group ('Axiom') to conduct an Aerial Electromagnetic Survey ('Xcite™ TDEM') over its Dutton Project (the "Project") in the southern Athabasca Basin, Saskatchewan. The Xcite™ TDEM survey is planned to commence in February 2025 and cover the eastern portion of the claim package which has not been previously surveyed for electromagnetic (EM) conductors. The airborne survey will precisely locate EM anomalies and aid in structural interpretations on the Project for future drill targeting. Xcite™ is a new generation of helicopter-borne time-domain electromagnetic (TDEM) systems developed by New Resolution Geophysics (NRG™). Axiom is an exclusive provider of this service in North America. This state-of-the-art technology provides an efficient alternative to all prior TDEM technologies for mineral exploration. The system utilizes a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter. The Xcite™ system offers exceptional signal clarity, enabling the detection of subtle subsurface features. It features a programmable waveform with a fast turn-off time, allowing for flexibility in data acquisition and improved resolution of both shallow and deep targets. About the Dutton Project The Dutton Project, wholly owned by the Company, spans 7,633 hectares over three adjoining claims in the Southern Athabasca Basin, Saskatchewan. Approximately 20 kilometres to the East of the Project lies the Virgin River Shear Zone which hosts known high-grade uranium deposits such as Cameco Corp's Centennial Deposit. The property lies just west of the Cable Bay Shear Zone, a major structural discontinuity which is host to several uranium occurrences, and the underlying basement rock is hosted in the Mudjatik Domain. The project 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 Project has never been drill-tested, and will benefit from additional geophysical surveys and surface sampling to aid in future drill target 1: Overview of Mustang's Dutton Project¹ References: 1. Saskatchewan GeoAtlas, Retrieved from: 2. Saskatchewan Mineral Deposits Index, SMDI# 2058, Abraham Bay Radioactive Diabase Dykes, Retrieved from: 3. Saskatchewan Mineral Assessment Database, Report# 74G06-0024, Retrieved from: 2: Mustang Energy Project Map, Athabasca Basin Saskatchewan¹ References: 1. Saskatchewan GeoAtlas, Retrieved from: Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang, 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, including Cameco Corp.'s Centennial Deposit and the Cable Bay Shear Zone. 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 Projects, 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. Engagement with Gold Standard Media, LLC The Company entered into an advertising agreement dated February 4, 2025 (the 'Agreement'), whereby the Company has engaged Gold Standard Media, LLC ('Gold Standard') to provide advertising services. The engagement commenced on February 4, 2025 and will continue until May 5, 2025, unless otherwise terminated in accordance with the terms of the Agreement. Gold Standard is in the business of providing financial publishing and digital marketing services to publicly traded companies. Gold Standard will provide advertising services to the Company including creating landing pages, digital marketing, email marketing and influencer marketing services through various online channels. Pursuant to the terms of the Agreement, the Company has agreed to pay a one-time fee of US$400,000 to Gold Standard due on or before February 10, 2025. The payment of the fee in connection with the engagement is subject to the approval of the Canadian Securities Exchange. Gold Standard has no direct relationship with the Company, other than as contemplated in the engagement. Gold Standard has an address at 723 W University Ave, Georgetown TX 78626 and Kenneth Ameduri of Gold Standard can be reached by telephone at (512) 846-1723 or by email at CEO@ 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 Athabasca 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 hectares. 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 DirectorPhone: (604) 838-0184This 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 completion of the advertising services by Gold Standard, the successful commencement and completion of the Xcite™ TDEM survey, and the timely delivery of the results from the Xcite™ TDEM 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 Xcite™ TDEM 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 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 in to access your portfolio
