Mr. Nicholas Luksha reports
Mustang Energy Corp. has acquired the Konigsstuhl project, a 5,228-hectare property located in the eastern Athabasca basin in Northern Saskatchewan. Secured through cost-effective staking, the Konigsstuhl project adds five 100-per-cent-owned mineral claims to Mustang's expanding portfolio of promising uranium assets in one of the world's premier mining districts.
Project highlights:
Location: The project is located approximately 25 kilometres northwest of Cameco's McArthur River mine and 45 kilometres southwest of Cameco's Cigar Lake mine.
Adjacent property mineralization:
Drill hole WMA-010 intersected 0.29 per cent U3O8 (triuranium octoxide) over 0.5 metre from 881.3 to 881.8 metres, with anomalous lead, vanadium, cobalt, nickel and arsenic in a bleached, clay-altered fault in graphitic pelite (SMDI No. 3553).
Drill hole WMA-004 intersected 0.28 per cent U3O8 over 0.2 metre from 1,016.0 to 1,016.2 metres four metres below the Athabasca unconformity associated with a clay-filled fracture in hematite-chlorite paleoweathered semi-pelite (SMDI No. 3551);
Drill hole CL-138 intersected 547 parts per million uranium (partial) over 0.5 metre from 609.3 to 609.8 metres in pelite below the unconformity at 606.6 metres (SMDI No. 3549).
Previous exploration: The property benefits from extensive high-resolution geophysical coverage, including a 2011 ZTEM (Z-axis tipper electromagnetic) survey over the southern claim area, a 2005 Megatem survey across the northern claim block and a 2005 radiometric survey covering the entire property.
"We are pleased to add the Konigsstuhl project to our growing portfolio of uranium assets in the Athabasca basin," said Nick Luksha, chief executive officer of Mustang Energy. "By strategically claim staking, we continue to secure 100-per-cent ownership of promising properties while keeping costs low. With a strong technical team and access to an exceptional geophysical data set, we are looking to advance exploration efforts and generate new opportunities for discovery on this underexplored property."
Project geology and mineralization
The Konigsstuhl project is underlain by basement rocks consisting of Archean granitoids and Lower Proterozoic (Trans-Hudson) Wollaston and Mudjatik group metamorphic rocks. These metamorphic rocks are composed of supracrustal rocks such as psammites, pelites and minor greenstones, along with associated intrusions. Overlying these basement rocks are an estimated 700 to 900 metres of flat-lying Athabasca sandstones and conglomerates.
The geological setting of the Konigsstuhl project demonstrates potential for the discovery of unconformity-style and basement-hosted uranium mineralization similar to that found at Cigar Lake and McArthur River. The property features potential EM conductors and mapped faults identified through previous exploration, which serve as both conduits and traps for uranium mineralization.
Strategic importance
The acquisition of the Konigsstuhl project aligns with Mustang's vision of building a robust portfolio of uranium assets in the Athabasca basin, a region known for its high-grade uranium deposits. As global energy markets shift toward low-carbon solutions, nuclear energy remains a cornerstone of sustainable power generation, driving demand for uranium resources. Mustang remains committed to executing its exploration strategy responsibly, contributing positively to local communities and ensuring environmental sustainability in all its operations.
Qualifying statement
The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, PGeo, technical adviser 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 occurrences as well as references to geological favourability of adjacent properties, which are located near the Konigsstuhl project. The company advises that, notwithstanding their proximity of location, discoveries of minerals on the adjacent properties and any promising results thereof are not necessarily indicative of the mineralization of or located on the Konigsstuhl project or the company's ability to commercially exploit the Konigsstuhl 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.
Update on engagement with MCS Market Communication Services GmbH
Further to the company's news release dated Sept. 16, 2024, and Dec. 6, 2024, and pursuant to the independent marketing service contract dated Sept. 12, 2024, with MCS Market Communication Services, the company has increased its promotional campaign budget from 500,000 euros to 750,000 euros, effective Jan. 9, 2025. Pursuant to the MCS agreement, the company agreed to an initial budget of 250,000 euros, with an option to increase the budget during the term of the engagement, which option was first exercised on Nov. 29, 2024, to increase the budget to 500,000 euros. Pursuant to the MCS agreement, MCS agreed to create a promotional campaign for Mustang consisting of text materials, advertisements, keyword research for search term optimization and other such on-line marketing activities. The promotional campaign is for a period of six months ending on March 23, 2025. The company will not issue any securities to MCS as compensation for the services. As of the date hereof, to the company's knowledge, MSC and its directors and officers do not own any securities of the company and they have an arm's-length relationship with the company. This partnership will focus on building brand recognition and investor outreach in the European markets, further complementing the company's recent Frankfurt listing.
MCS is an independent company that will, as appropriate, provide project management and consulting for an on-line marketing campaign, co-ordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads, and create and optimize landing pages. The promotional activity will occur by e-mail, Facebook and Google.
MCS Marketing has an address at Rheinproimendate 13, 40789 Monheim am Rhein, NRW, Germany, and can be reached at info@mcsmarket.de or 49-160-9903-2182
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 in the Wollaston domain. 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 southern-central region of the Athabasca basin with the Dutton project (7,633 hectares).
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