Mustang Energy recaps 2025 work, hires consultants

Executive Summary

• Mustang Energy recapped its 2025 exploration achievements, including the maiden diamond drill campaign at Surprise Creek and acquisition of multiple uranium‑focused properties.
• The company raised approximately $3.58 million in aggregate gross proceeds from non‑brokered private placements to fund exploration and working capital.
• On Feb. 4 2026 Mustang entered into three consulting agreements, issuing 4 million restricted share units (RSUs) that vest immediately and are redeemable for common shares.

Key Details

• Exploration Milestones
• Initiated first diamond drilling at the Surprise Creek uranium‑copper project targeting priority geophysical/structural targets along the Surprise Creek fault and Bob Lake copper showing.
• Completed field prospecting, mapping, sampling, and target verification on newly acquired Cluff Lake area properties.

• Secured key exploration permits for the 914W uranium project, enabling expanded ground work and future drilling.

• Property Acquisitions & Staking (2025)

• Acquired Surprise Creek uranium‑copper project and Cluff Lake area properties in Saskatchewan.
• Staked Onyx uranium project and Bridal Veil copper‑silver project in Newfoundland & Labrador.
• Completed acquisitions of the Nucleus property and Yellowstone property, expanding the uranium pipeline.

• Partnered with Skyharbour Resources Ltd. to stake an additional claim at 914W, enlarging its footprint in a high‑potential district.

• Financing Activity

• Raised ~$3.58 million gross proceeds via multiple non‑brokered private placements throughout 2025.

• Proceeds allocated to exploration expenditures, project advancement, and general working capital.

• Consulting Agreements (Effective Feb. 4 2026)

• Entered into three separate consulting agreements with arm’s‑length parties for corporate advisory services (market research, M&A strategy, business development).

• Issued a total of 4 million restricted share units (RSUs) to the consultants; RSUs vested immediately and are redeemable for one common share each.

• Outlook for 2026

• Plans to advance high‑priority properties with expanded drilling, additional geophysical surveys, geological modelling, and continued target generation across its portfolio.

Notable Quotes

(No direct quotes were provided in the release.)