Core Viewpoint - Mustang Energy Corp. has completed initial payments and share issuances under two strategic option agreements with Thunderbird Resources Ltd, marking a significant step in advancing the Cluff Lake and Surprise Creek Projects [1][2]. Cluff Lake Project - The Company has entered into the Cluff Lake Agreement to acquire an 80% interest in mineral tenements around Cluff Lake [2]. - Initial consideration for the Cluff Lake Option included a cash payment of $20,000 and the issuance of 425,531 common shares [3]. - To earn a 60% interest in the Cluff Lake Project, the Company must make an additional cash payment of $50,000 and incur exploration expenditures of $1,000,000 by June 3, 2027 [4]. - For an additional 20% interest, the Company must pay another $50,000 and spend $2,000,000 on exploration by the second anniversary of earning the Stage 1 interest [4]. - Upon earning the Stage 2 interest, Thunderbird will retain a 2% Net Smelter Return royalty on the Cluff Lake Project [5]. Surprise Creek Project - The Company has also entered into the Surprise Creek Agreement to acquire an 80% interest in mineral tenements around Surprise Creek [2]. - Initial consideration for the Surprise Creek Option included a cash payment of $20,000 and the issuance of 425,531 common shares [6]. - To earn a 51% interest in the Surprise Creek Project, the Company must make a cash payment of $50,000 and incur exploration expenditures of $1,000,000 by June 3, 2027 [7]. - For an additional 29% interest, the Company must pay another $50,000 and spend $2,000,000 on exploration by the second anniversary of earning the Stage 1 interest [7]. - Upon earning the Stage 2 interest, Thunderbird will retain a 2% Net Smelter Return royalty on the Surprise Creek Project [8]. Share Issuance and Regulatory Compliance - All shares issued to Thunderbird are subject to a statutory hold period of four months and one day from the closing date [9]. - Share values for future issuances under the Stage 2 interests will be determined by market price at the time of issuance, in accordance with Canadian Securities Exchange policies [4][7]. Company Overview - Mustang Energy Corp. focuses on acquiring and developing high-potential uranium and critical mineral assets, actively exploring properties in Northern Saskatchewan, Canada [10]. - The Company holds 92,211 hectares in the Athabasca Basin, including several projects such as Ford Lake, Cigar Lake East, Roughrider South, Yellowstone, and Dutton [10].