Mustang Energy Receives Exploration Permit for the Roughrider South and Cigar Lake East Project, Saskatchewan

Company Announcement - Mustang Energy Corp has received exploration permits from the Saskatchewan Government for the Roughrider South and Cigar Lake East Project in the Athabasca Basin, Saskatchewan [1] - The permits authorize mineral exploration activities including trail construction, line-cutting, ground geophysical surveys, and diamond drilling, valid until September 30, 2027 [2] - Mustang will engage with local communities and prioritize environmental stewardship to ensure sustainable project implementation [3] Project Details - The Roughrider South and Cigar Lake East Project consists of four claims covering 3,443 hectares in the Eastern Athabasca Basin, near the Wollaston-Mudjatik transition zone [4] - The area is highly prospective for uranium, with nearby deposits including the Cigar Lake Uranium Mine (138.4 million pounds produced) and Rabbit Lake Uranium Mine [4] - An airborne magnetics/VTEM survey conducted in 2023 highlighted structural features, and Mustang has engaged Resource Potentials Ltd to reinterpret the data for additional drill targets [5] Company Overview - Mustang Energy Corp is a resource exploration company focused on uranium and critical mineral assets in Northern Saskatchewan, Canada [11] - The company holds 77,318 hectares in the Athabasca Basin, including flagship properties such as Ford Lake (7,743 hectares), Cigar Lake East and Roughrider South (3,442 hectares), Spur Project (17,929 hectares), Yellowstone Project (21,820 hectares), and Dutton Project (7,633 hectares) [11] Technical and Scientific Information - The scientific and technical information in the release has been reviewed and approved by Lynde Guillaume, PGeo, a Qualified Person as defined by National Instrument 43-101 [9]