Yellowstone East Project

Figure 1: Overview of Yellowstone East Property - Mustang Energy (1), (4)

Highlights

Ownership: 100% owned by Mustang Energy
Size: One claim totaling 3,340 hectares
Location:
- Situated on the eastern edge of the Carswell Impact Structure, adjacent to significant uranium deposits
  Approximately 14 km east of the historic Cluff Lake Mine.(2)
  Approximately 20 km northeast of the Shea Creek Deposit.(3)
Geological Potential:
- The Project lies within the Athabasca Basin, renowned for hosting the world class uranium deposits.
- Historical data highlights multiple conductive anomalies and fault zones with coincident lithogeochemical anomalies potentially associated with uranium mineralization. (4)
Previous Work:
- A 2007 exploration program conducted by MPH Consulting Limited (SMAD# 74K06-0088), on behalf of Uranium North Resources Corp., included a lithogeochemical survey and an airborne MEGATEM time-domain electromagnetic survey. This program identified two anomalous areas along the western portion of the Property: the East Rim Fault area and the Beaver Lake Area. These zones are spatially associated with interpreted pre- and/or syn-Carswell Structure event faults. (4)

References

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

(2) Cluff Lake Mine Uranium Production – Orano: Retrieved from https://www.orano.group/canada/en/news-resources/news/2023/may/cluff-lake-project-concludes-mining-life-cycle

(3) Shea Creek. Uranium Energy Corp. Retrieved from https://www.uraniumenergy.com/projects/canada/shea-creek/

(4) Saskatchewan Mineral Assessment Database, SMAD# 74K06-0088_2007_MEGATEM_Lithogeochem, Retrieved from http://mineral-assessment.saskatchewan.ca/Pages/BasePages/Main.aspx

Overview

The Yellowstone East Project covers 3,340 hectares, strategically positioned in the Western Athabasca Basin, a region renowned for high-grade uranium deposits. The property covers the eastern portion of the Carswell Impact Structure, a ~18 km meteorite crater whose unique geology has hosted significant uranium deposits like the Cluff Lake Mine.

Composite boulder sampling and geophysical datasets highlight significant anomalies spatially associated with interpreted fault zones, suggesting hydrothermal fluid pathways and the potential for uranium mineralization.(4)

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.

Exploration

Beaver Lake Area (4):
- Associated with radial faults and arcuate MEGATEM4 conductors near the Carswell Impact Structure.
  MEGATEM4 conductors are interpreted to be a result of shallow, clay-lined and altered faults which cut Athabasca Group rocks. Follow-up deep penetrating geophysics is needed to determine if these faults/conductors extend into the basement.
- Adjacent to the East Rim Fault, an active geological structure post-Carswell Impact event.
- 2007 composite boulder sampling program shows anomalous total clay, illite +/- kaolinite, dravite, and uranium. The identified anomalies are spatially associated with interpreted faults, suggesting these faults are pathways for hydrothermal fluids. (4)
- Geophysical correlation with a GSC eU radiometric anomaly and fault-intersecting conductive zones.