Mustang Energy Engages Axiom Exploration for Airborne Geophysical Survey over the Dutton Project

Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) has announced its engagement of Axiom Exploration Group to conduct an Aerial Electromagnetic Survey (Xcite™ TDEM) over its Dutton Project in the southern Athabasca Basin, Saskatchewan. The survey, planned to commence in February 2025, will cover the eastern portion of the claim package that has not been previously surveyed for electromagnetic (EM) conductors. The airborne survey aims to precisely locate EM anomalies and aid in structural interpretations on the project for future drill targeting.

The Xcite™ TDEM technology, developed by New Resolution Geophysics (NRG™) and exclusively provided by Axiom in North America, offers several advantages over traditional TDEM systems for mineral exploration. The system utilizes a patented inflatable transmitter loop with a diameter of approximately 20 meters, suspended about 30 meters below the helicopter. This design allows for exceptional signal clarity, enabling the detection of subtle subsurface features. The programmable waveform with a fast turn-off time allows for flexibility in data acquisition and improved resolution of both shallow and deep targets. This enhanced resolution and signal clarity make the Xcite™ system an efficient alternative to all prior TDEM technologies for mineral exploration.

The Dutton Project, wholly owned by Mustang, spans 7,633 hectares over three adjoining claims in the Southern Athabasca Basin, Saskatchewan. Approximately 20 kilometers to the East of the Project lies the Virgin River Shear Zone, which hosts known high-grade uranium deposits such as Cameco Corp.'s Centennial Deposit. The property lies just west of the Cable Bay Shear Zone, a major structural discontinuity which is host to several uranium occurrences, and the underlying basement rock is hosted in the Mudjatik Domain. The project encompasses a diabase dyke complex, including conductive anomalies and elevated radioactivity. Historical exploration (1978–1981) identified several features of interest, including weakly conductive EM anomalies, biogeochemical uranium enrichment, and radioactive dykes. The Project has never been drill-tested, and will benefit from additional geophysical surveys and surface sampling to aid in future drill target generation.



The Xcite™ TDEM survey is expected to reveal specific geological features and anomalies that could inform future drill targeting. These include electromagnetic (EM) conductors, structural interpretations, subtle subsurface features, conductive anomalies, and elevated radioactivity. By revealing these specific features and anomalies, the Xcite™ TDEM survey can help refine drill targeting at the Dutton Project, increasing the likelihood of discovering commercially exploitable mineral deposits.

The proximity of the Dutton Project to known uranium deposits and shear zones can influence the likelihood of discovering commercially exploitable uranium deposits. However, investors should consider several additional factors when evaluating the potential of the Dutton Project. These factors include historical exploration, geophysical surveys and surface sampling, technical expertise, market conditions, regulatory environment, and the financial health of the Company.

In conclusion, Mustang Energy's engagement of Axiom Exploration for an airborne geophysical survey using the Xcite™ TDEM technology at the Dutton Project demonstrates the Company's commitment to leveraging advanced technology and expertise to enhance the likelihood of discovering commercially exploitable mineral deposits. Investors should monitor the progress of the survey and the Company's future drill targeting efforts to assess the project's potential.