Mustang Energy samples 42.3 ppm U at 914W

Executive Summary

• Mustang Energy released high‑resolution helicopter‑borne TDEM survey results for the 914W uranium project, identifying a well‑developed conductive zone consistent with graphite‑bearing basement rocks or fault‑controlled alteration—key pathfinder features for unconformity‑type uranium.
• A May 2025 soil and rock sampling program collected 142 soil samples and 25 rock samples; anomalous uranium values were detected, including one granitic gneiss sample returning 42.3 ppm U.
• The project remains underexplored but is situated near historic high‑grade zones (Scurry Rainbow E zone 1 and Don Lake trenches) and may support future drilling pending option agreement conditions.

Key Details

• Survey Coverage: 136 line kilometres of Xcite helicopter‑borne TDEM over the 914W property; data also include magnetic and radiometric measurements.
• Conductive Anomaly: Early time channels (0.014–0.045 ms) show strong EM responses along the east‑central block, persisting through mid‑to‑late time channels (0.12–0.56 ms); inversion modelling indicates a continuous conductive zone from 50 m to >350 m depth, trending ENE.
• Soil Sampling (May 2025):
• 142 soil samples + 25 rock samples collected across the claim area (2,440 ha).
• Five southern‑grid soils exceeded 4 ppm U (slightly elevated).
• Northeastern grid includes a granitic gneiss sample with 42.3 ppm U.
• Sampling Methodology: Samples analysed by SRC Laboratories (Saskatoon) using ICP‑MS with four‑acid digestion; results reported as weight % U₃O₈.
• Project Context: Located ~48 km SW of Cameco’s Key Lake operation, within the Western Wollaston domain known for unconformity and basement‑hosted uranium mineralization. Adjacent historic zones: Scurry Rainbow E zone 1 (1,288 ppm U in drill hole ML‑1) and Don Lake trenches 2 (up to 0.64 % U₃O₈).
• Option Agreement: Mustang may acquire a 75 % interest in the 914W project under existing option terms with Skyharbour Resources; see November 13 2024 release for details.
• Qualified Person Review: Technical information reviewed and approved by Troy Marfleet, P.Geo., qualified person per NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)