Roughrider South & Cigar East Projects

Figure 1: Overview of Roughrider South and Cigar Lake East Projects - Mustang Energy (1)

Highlights

Ownership: 100% owned by Mustang Energy
Exploration permits have been received.
Size: Roughrider South: 1,145 hectares across 2 claims. Cigar Lake East: 2,298 hectares across 2 claims.
Location:
- Close proximity to all-season roads and electrical transmission lines.
- Nearby state-of-the-art McClean Lake Mill.
Geological Potential:
- The projects are situated near the highly prospective Wollaston-Mudjatik transition zone.
- Roughrider South is along geological trend of the world class Cigar Lake Deposit2 ~20km to the Southwest, and the Roughrider and Midwest Deposits ~15 km to the Northeast.
- Cigar Lake East Project is 20 km east of the Cigar Lake Mine, and ~25 km southwest of the McLean Lake Deposit and the Rabbit Lake Mine.
- The depth to unconformity across the property is estimated to be about 100 to 300 meters.
Previous Work:
- Airborne Magnetics/VTEM survey was conducted by Stallion Uranium in 2023 highlighting the structural features.

Exploration

Figure 2: Roughrider South and Cigar Lake East Projects with aerial magnetics 1VD layer and with close-up on Roughrider South magnetic low corridor. (1) (2023 VTEM, Stallion Uranium)

Both projects host unexplored structural magnetic lows that warrant further exploration.

References

(1) Saskatchewan GeoAtlas, https://gisappl.saskatchewan.ca/Html5Ext/index.html?viewer=GeoAtlas

(2) https://www.cameco.com/businesses/uranium-operations/canada/cigar-lake#:~:text=Total%20packaged%20production%20from%20Cigar,pounds%20our%20share)%20in%202024.

Disclaimer

The scientific and technical information in this website has been reviewed and approved by Lynde Guillaume, P.Geo., Technical Advisor for Mustang Energy Corp. Ms. Guillaume is a Qualified Person as defined under the terms of National Instrument 43-101. This website refers to neighboring properties in which the Company has no interest. Mineralization on those neighboring properties does not necessarily indicate mineralization on the Company’s properties. Some Project descriptions refer to historical sample results and drill holes both off- and on-property. Mustang considers this information to be relevant to exploration; however, these results have not been physically verified by Mustang’s Qualified Person.

Overview

Each of the Cigar Lake East and Roughrider South projects are located in the Eastern Athabasca Basin in northwest Saskatchewan, situated near the highly prospective Wollaston-Mudjatik transition zone. The Cigar Lake East and Roughrider South projects consists of four claims covering a total area of 3,443 hectares and are in close proximity to all-season roads and electrical transmission lines. The uranium endowment of the area is proven by nearby deposits (<25 km) including the world class Cigar Lake Uranium Mine2 and Rabbit Lake Uranium Mine to the Northeast.

An airborne magnetics/VTEM survey was conducted in 2023 highlighting structural features on the projects. Mustang Energy is conducting a reinterpret of these data sets in an effort to develop additional drill targets within the project boundaries.