Mustang Power Corp. Initiates an Airborne MobileMT Survey at their Yellowstone Challenge

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VANCOUVER, British Columbia, Oct. 30, 2024 (GLOBE NEWSWIRE) — Mustang Power Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Firm” or “Mustang”) is happy to announce the graduation of a helicopter-borne Cellular Magneto Tellurics (“MobileMT”) survey on the Yellowstone Challenge, situated within the Western Athabasca Basin, Saskatchewan.

The survey is being accomplished by Knowledgeable Geophysics based mostly out of Aurora, Ontario. A complete of about 500 line-km can be surveyed at a 400 metre line spacing and can accumulate magnetic and really low frequency (VLF) information. The survey can be carried out over the Northern portion of the Yellowstone Challenge’s declare bundle with a concentrate on areas that haven’t beforehand been surveyed with deep penetrating electromagnetic survey strategies. This survey goals to detect conductors at depths exceeding 1000 meters, offering a extra detailed decision of those deeper buildings which may doubtlessly host uranium. Supply is anticipated inside eight weeks from completion of the survey from Knowledgeable Geophysics and can be interpreted for follow-up exploration.

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“Initiating the MobileMT survey at our Yellowstone Challenge marks an essential step in Mustang’s exploration technique inside the Athabasca Basin,” stated Nicholas Luksha, CEO of Mustang Power Corp. “This state-of-the-art know-how permits us to realize insights into deep-seated geological buildings, offering us with invaluable information to focus on doubtlessly uranium-rich zones. We’re excited to work with Knowledgeable Geophysics to advance our understanding of this potential space and to construct on the area’s legacy of uranium manufacturing.”

Concerning the MobileMT System

MobileMT is the newest innovation in airborne electromagnetics and one of the vital superior technology of airborne AFMAG applied sciences. The MobileMT know-how makes use of naturally occurring electromagnetic fields (the “EM Fields”) within the frequency vary of 25 – 20,000 Hz. Thunderstorms launch vitality, a few of which is transformed into EM Fields that propagate via the ionosphere-Earth interspace. The EM Fields and currents induced by these EM Fields within the subsurface are utilized in MobileMT to establish variations in subsurface electrical resistivity.

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The MobileMT know-how is the product of intensive expertise in creating gear and sign/information processing algorithms for pure EM Fields measurement. MobileMT combines the newest advances in electronics, airborne system design, and complicated sign processing methods. The superior noise processing strategy of each digital and sign processing ranges ensures excessive information high quality even for low pure EM Fields.

The MobileMT survey system can successfully establish deep seated buildings which may be related to feeder fault programs to uranium mineralization, and is able to detecting each the basement-hosted electromagnetic conductors and sandstone-hosted zones of anomalous resistivity generally related to Athabasca Basin uranium deposits.

MobileMT is able to resolving resistivity contrasts to depths exceeding 1000 metres, and notably, earlier MobileMT surveys have efficiently recognized basement conductors and alteration zones within the sandstone formations of distinguished uranium deposits throughout the Athabasca Basin.

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Yellowstone Challenge

The 100% owned Yellowstone Challenge consists of seven adjoining claims with a complete space of 21,820 hectares located roughly 16 kilometres from the previous producing Cluff Lake Mine (over 62 million kilos of uranium produced¹) within the Western Athabasca Basin.

The property surrounds the outside of the Carswell Impression Construction and is adjoining to Fission Uranium’s West Cluff Challenge. The Carswell Impression Construction is regarded as associated to a meteorite impression measuring roughly 18 kilometres in diameter, which uncovered basement rock that underlies the Athabasca Basin sandstone formations and hosts excessive grade uranium mineralization together with the Cluff Lake Mine.

A number of recognized conductors transect the property. One historic drill gap (SYL-1) on the Southern claims encountered alteration however missed the supposed conductive goal.²

Determine 1: Mustang Power Corp.’s Yellowstone Challenge within the Western Athabasca Basin, Saskatchewan

Qualifying Assertion:

The scientific and technical info on this launch has been reviewed and accepted by Lynde Guillaume, P.Geo., Technical Advisor for Mustang Power, and a registered member of the Skilled Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Certified Individual as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks.

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About Mustang Power Corp.:

Mustang is a useful resource exploration firm targeted on buying and creating high-potential uranium and significant mineral belongings. The Firm is actively exploring its properties within the Athabasca Basin of Saskatchewan, Canada. Mustang’s flagship property, Ford Lake, covers 7,743 hectares within the prolific japanese Athabasca Basin, whereas its Cigar Lake East and Roughrider South tasks span 2,901 hectares within the Wollaston Area. Mustang has additionally established its footprint within the Cluff Lake area of the Athabasca Basin with the Yellowstone Challenge and additional expanded its presence within the south central area of the Athabasca Basin with the Dutton Challenge.

For additional info, please contact:

Mustang Power Corp.

Consideration: Nicholas Luksha, CEO and Director
Telephone: (604) 838-0184

Neither the CSE nor the Market Regulator (as that time period is outlined within the insurance policies of the CSE) accepts accountability for the adequacy or accuracy of this launch.

This information launch consists of sure statements and data that will represent forward-looking info inside the that means of relevant Canadian securities legal guidelines. Ahead-looking statements relate to future occasions or future efficiency and mirror the expectations or beliefs of administration of the Firm concerning future occasions. Usually, forward-looking statements and data will be recognized by way of forward-looking terminology corresponding to “intends”, “believes” or “anticipates”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “might”, “may”, “ought to”, “would” or “happen”. This info and these statements, referred to herein as “ahead‐trying statements”, aren’t historic information, are made as of the date of this information launch and embrace with out limitation, statements concerning discussions of future plans, estimates and forecasts and statements as to administration’s expectations and intentions with respect to, amongst different issues, the long run potential of the minerals claims held by the Firm, the profitable graduation and completion of the MobileMT survey, and the well timed supply of the outcomes from the MobileMT survey. In making the forward-looking statements on this information launch, the Firm has utilized a number of materials assumptions, together with with out limitation the belief that the Firm will have the ability to: proceed exploring its properties given varied environmental and financial elements exterior of its management and full the MobileMT survey as deliberate. Though administration of the Firm has tried to establish essential elements that would trigger precise outcomes to vary materially from these contained in forward-looking statements or forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or supposed. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements and forward-looking info. Readers are cautioned that reliance on such info is probably not acceptable for different functions. The Firm doesn’t undertake to replace any forward-looking assertion, forward-looking info or monetary out-look which can be included by reference herein, besides in accordance with relevant securities legal guidelines.

¹ As beforehand disclosed in a information launch issued by Orano Canada Inc. on Could 11, 2023 and obtainable at: https://www.orano.group/canada/en/news-resources/information/2023/might/cluff-lake-project-concludes-mining-life-cycle.
²SMAD# 74K05-0140, Drill gap SYL-1, Sylia Lake Challenge 1998, Cogema Assets Inc.

A photograph accompanying this announcement is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/74c3053e-930f-461d-9114-efd5ec651490

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