Mustang tests chromite horizon at Maskwa property

Mustang Minerals Corp., announced initial drill results from a new exploration horizon on the Maskwa Property. Elevated nickel-pgm-cobalt values were found in the Chromite horizon. Follow up holes have now been drilled.

Also, preliminary results from a Geotech VTEM survey at the nearby Fox and Aileen exploration properties have identified significant new exploration targets there. In particular two anomalies have been identified at the Fox Property both associated with historical nickel copper mineralization.

As part of the systematic testing of the Maskwa Property several drill holes have been drilled to test the east - west trending Chromite horizon on the property. The Chromite Horizon has been mapped intermittently across the east west extent of the Maskwa Property.

Results from the first hole assayed (MM08-112) testing the Chromite Horizon at west Maskwa have now been received and returned the following values. Width is apparent width.

MM08-112 26.5 meters (86.9 feet) of 0.28% nickel; 0.02% cobalt and 0.3 g/t pgm from 105.8 meters Including 10.1 meters (33.2 feet) of 0.35% nickel; 0.02% cobalt and 0.4 g/t pgm

The highest 1 meter section assayed in MM08-112 returned 2.2 g/t pgm.

Holes MM08-128 and MM08-129 have tested the Chromite horizon a further 1.5 km to the east where geological mapping had historically documented chromite showings. The ultramafic host rocks to the chromite horizon and the chromite bearing rocks intersected in MM08-128 are similar to the stratigraphy in MM08-112, Several zones of disseminated sulfides were noted in MM08-128 and will be assayed for nickel, cobalt and platinum group metals. MM08-129 has been drilled 200 meters to the west of MM08-128 to test the same horizon.

Mustang has been actively advancing its other exploration projects in southeast Manitoba and has now completed and received the preliminary data from Geotech VTEM surveys over prospective ground at the Fox and Aileen Projects. Significant discrete anomalies were identified closely associated with historical nickel-copper-PGM values and recent sampling completed by Mustang at both properties.