Mustang Energy Corp. Announces Results of TDEM Survey Over the 914W Property

Executive Summary

• Mustang Energy Corp. announced the results of a high-resolution helicopter-borne Time Domain Electromagnetic (HTDEM) survey and soil sampling program at its 914W Uranium Project in Saskatchewan.
• The HTDEM survey, covering 136 line-kms, successfully defined a well-developed conductive zone in the east-central portion of the property, consistent with graphitic basement rocks or fault-bound alteration zones favorable for unconformity-type uranium mineralization.
• Soil sampling identified anomalous uranium values in the northern portion of the project grid, including a granitic gneiss sample returning 42.3 ppm U, although no new significant discoveries were made in the southern portion.

Key Details

• HTDEM Survey Scope:
  • Conducted by Axiom Exploration Group Ltd.
  • Total coverage: 136 line-kms.
  • Data collected: Simultaneous electromagnetic, magnetic, and radiometric data.
• Geophysical Findings:
  • Shallow Response: Early-time channels (0.014–0.045 ms) show strong, high-amplitude EM responses along the east-central portion, indicating shallow conductive zones.
  • Depth Persistence: The conductor persists through mid-to-late time channels (0.12–0.56 ms), suggesting a discrete subsurface conductor rather than surficial noise.
  • Inversion Modeling:
    • 50–150 m depth slices show a strong, laterally continuous conductive zone trending east-northeast across the east-central property.
    • 250–350 m depth slices confirm the conductivity anomaly persists at depth.
  • Interpretation: Geometry and strength are consistent with graphitic basement rocks or fault-bound alteration zones, key pathfinders for unconformity-type uranium mineralization in the Athabasca Basin margin.
• 2025 Soil and Rock Sampling Results:
  • Program Details: One-week prospecting and sampling in May 2025; 25 rock samples and 142 soil samples collected.
  • Location Focus: Northwest corner of the Project (south of Scurry Rainbow E Zone 1 and Don Lake Trenches 2) where outcrop exposure is scarce.
  • Assay Results:
    • Southern Grid: Five soil samples exceeded 4 ppm U (considered slightly elevated); no confirmation of elevated values in the southwestern part due to limited outcrop.
    • Northern Grid: Anomalous uranium values identified.
    • Top Sample: A granitic gneiss sample returned 42.3 ppm U.
  • Methodology: Samples analyzed by SRC Laboratories using ICP-MS with four-acid digestion and U₃O₈ assays by ICP.
• Project Context:
  • Location: 914W Uranium Project, ~48 km southwest of Cameco’s Key Lake Operation.
  • Tenure: Two claims covering 2,440 hectares.
  • Geology: Situated in the Western Wollaston Domain, known for unconformity and basement-hosted uranium mineralization.
  • Nearby Prospects: Proximity to Scurry Rainbow E Zone 1 (1,288 ppm U in drill hole ML-1) and Don Lake Trenches 2 (up to 0.64% U₃O₈ in trench).
  • Ownership: Mustang holds an option to acquire a 75% interest from Skyharbour Resources Ltd.

Notable Quotes

• None explicitly quoted in the text; however, the Technical Advisor Troy Marfleet, P.Geo., reviewed and approved the scientific and technical information.