Mustang Energy Corp. Recaps Milestones and Strategic Progress in 2025

VANCOUVER, British Columbia, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (“Mustang” or the “Company”) (CSE: MEC, OTC: MECPF, FRA: 92T) is pleased to provide a comprehensive recap of its key corporate, exploration, and financing achievements throughout 2025, underscoring the Company’s continued advancement as a uranium and critical mineral exploration company in Canada.

Exploration Advancement and Field Programs

Mustang executed an active and disciplined exploration program across several core project areas during 2025:

Surprise Creek Uranium-Copper Project (Saskatchewan)

The Company initiated its maiden diamond drilling campaign targeting priority geophysical and structural targets along the Surprise Creek Fault and the Bob Lake Copper showing. This marked a major operational milestone and represented the first drill testing of high-priority zones identified through earlier geophysical surveys and geological interpretation.

Cluff Lake Area Properties (Saskatchewan)

Following the acquisition of the Cluff Lake area properties, the Company completed a field prospecting and reconnaissance program designed to evaluate priority target areas and refine the geological understanding of the project. The program included mapping, sampling, and target verification work, establishing a foundation for future, more advanced exploration activities.

Regional Fieldwork

Ground-based exploration programs were conducted across Mustang’s broader project portfolio, including geological mapping, prospecting, sampling, and geophysical surveys. These programs refined drill targeting and enhanced the Company’s understanding of structural controls and alteration systems associated with uranium and critical mineral mineralization.

914W Uranium Project (Saskatchewan)

Mustang secured key exploration permits from the Government of Saskatchewan, authorizing expanded ground exploration and drilling activities. This permitting milestone positions the project for more advanced work programs moving forward.

Portfolio Expansion and Strategic Property Acquisitions

During 2025, Mustang strengthened and expanded its project portfolio through strategic acquisitions and staking initiatives:

• The Company acquired the Surprise Creek Uranium-Copper Project in Saskatchewan, securing a prospective asset within a structurally favorable corridor and advancing it to the drill stage during the year.
• Mustang also acquired the Cluff Lake area properties, increasing its presence in the western Athabasca Basin near historically significant uranium-producing districts and enhancing its exposure to underexplored, high-potential ground.
• The Company staked the Onyx Uranium Project and the Bridal Veil Copper-Silver Project in Newfoundland and Labrador, broadening its exposure to prospective uranium and critical mineral terrains.
• The Company completed the acquisitions of the Nucleus Property and the Yellowstone Property, further expanding its pipeline of prospective uranium exploration assets and reinforcing its strategy of consolidating ground in favorable geological settings.
• In collaboration with Skyharbour Resources Ltd., Mustang staked an additional claim at the 914W Uranium Project, increasing the project’s footprint within a highly prospective uranium district.
  

These additions reflect Mustang’s strategy of consolidating prospective ground in established uranium jurisdictions while building a diversified pipeline of discovery opportunities.

Strategic Financing and Capital Raised

Throughout 2025, Mustang successfully completed multiple financing initiatives to support exploration and corporate development. The Company raised aggregate gross proceeds of approximately $3.58 million through a series of non-brokered private placements completed during the year. Proceeds were directed toward exploration expenditures, project advancement, and general working capital.

Investor Engagement and Market Presence

Mustang continued to build market awareness through proactive investor communications, media features, and participation in industry forums. These initiatives supported increased visibility of the Company’s exploration strategy and long-term growth objectives.

Outlook for 2026

As Mustang enters 2026, the Company plans to advance its high-priority properties and exploration targets through additional field work, including expanded drilling programs. The Company anticipates that work will focus on follow-up drilling at key target areas, further geophysical surveys, geological modeling, and continued target generation across the portfolio.

Consulting Agreements

The Company is also pleased to announce that, on February 4, 2026, it entered into separate consulting agreements (the “Consulting Agreements”) with three arm’s-length parties. Each Consulting Agreement will remain in effect until terminated by either party in accordance with its terms. Under the Consulting Agreements, the consultants will provide corporate advisory services, including market research, strategic advice regarding potential mergers and acquisitions, and assistance with general business development. As consideration for the Consulting Agreements, the Company issued an aggregate of 4,000,000 restricted share units (the “RSUs”) of the Company to the consultants, which vested immediately. Upon vesting, each RSU is redeemable for one common share in the Capital of the Company.

Qualifying Statement

The scientific and technical information in this news release has been reviewed and approved by Troy Marfleet, P.Geo., Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Marfleet is a Qualified Person as defined by National Instrument 43-101.

About Mustang Energy Corp.

Mustang Energy Corp. is a Canadian mineral exploration company focused on the discovery and development of high-impact uranium and critical mineral assets. With a strategic portfolio of properties in Saskatchewan’s Athabasca Basin and emerging projects in Newfoundland and Labrador, Mustang is positioned to capitalize on growing global demand for nuclear fuel and essential minerals critical to the energy transition.

On behalf of the board of directors

“Nicholas Luksha”

Nicolas Luksha
CEO and Director

For further information, please contact:

Mustang Energy Corp.

Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184

Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends”, “believes” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward?looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the mineral claims held by the Company and the completion of future work on its projects. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.