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Mustang Minerals Corp

Published : July 13th, 2010

Exploration Deal With Tantalum Mining Corporation of Canada

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Keywords :   Canada | Copper | Lithium | Nickel | Palladium | Platinum | Rare Earth | Tantalum |

 
 
Mustang Minerals Corp.
TSX VENTURE: MUM
FRANKFURT: NJF
Other Recent News

July 13, 2010
Mustang Minerals Exploration Deal With Tantalum Mining Corporation of Canada
TORONTO, ONTARIO--(Marketwire - July 13, 2010) - The Board of Directors of Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) today is pleased to announce that Mustang Minerals has acquired an option on mining claims located in southeast Manitoba currently held by Tantalum Mining Corporation of Canada ("Tanco"). Tanco is Canada's sole producer of lithium, cesium and tantalum metals, and has been operating in Manitoba for over 40 years. Under the option agreement Mustang will focus on the nickel, copper and precious metal potential of the property while Tanco will retain rights to lithium, tantalum, cesium and rare earth elements.

The mining claims optioned by Mustang are located immediately south of Mustang's Mayville Property where Mustang has outlined a NI 43-101 open pit resource consisting of 9.2 million tonnes at 0.61% copper, 0.23% nickel and 0.43 g/t platinum group metals (PGM). The Mayville deposit is open along strike and at depth.

Historically the property has been the focus of exploration for lithium and tantalum since the late 1950's. Mustang plans to initiate a heliborne EM survey over the property as soon as possible.

"We are pleased to enter into this agreement with Tanco on a strategic piece of exploration ground near our Mayville resource" said Robin Dunbar President of Mustang. This will add to what we consider to be a highly prospective exploration package in our project area in southeast Manitoba where Mustang has two copper-nickel deposits suitable for open pit mining.

Terms of the Property Option Agreement

Mustang can earn a 100% interest in the base and precious metal rights (subject to Net Smelter Return Royalty) to the Property by completing option payments totalling $45,000. ($10,000 on signing) and making expenditures of $300,000 over a period of three years. In the first year, work expenditures of $12,600 are required.

About Mustang Minerals Corp.

Mustang Minerals is exploring and developing two open pittable deposits located in southeast Manitoba. A NI 43-101 reserve estimate completed in Feb. 2010 by Micon International Limited outlined 9.855 million tonnes in the Probable category containing 0.541% nickel, 0.113% copper 0.433 g/t PGM at the Makwa Project. The Mayville Project is located approximately 35 km by road from Makwa and has a NI 43-101 Indicated Resource of 9.227 million tonnes containing 0.61% copper, 0.23% nickel and 0.174 g/t palladium (see April 15, 2010 news release).

Ian Ward P.Eng, Senior Vice President of the Company, is the Qualified Person for the Mayville and Makwa project information and this press release.

To find out more about Mustang Minerals Corp. (TSX VENTURE:MUM) visit our website at www.mustangminerals.com.

We seek safe harbour.

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Shares Outstanding: 94,598,233

CONTACT INFORMATION:

Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com

INDUSTRY: Manufacturing and Production - Mining and Metals


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Mustang Minerals Corp
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CODE : MUM.V
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Mustang is a nickel and copper exploration company based in Canada.

Mustang develops nickel, copper, cobalt, palladium and platinum in Canada, and holds various exploration projects in Canada.

Its main asset in development is MAKWA in Canada and its main exploration properties are RIVER VALLEY PGM, EAST BULL LAKE, TILLICUM CLAIMS, RIVER VALLEY PGM and MAYVILLE in Canada.
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Financings of Mustang Minerals Corp
1/24/2013Announces Completion of Additional Financing and 2013 Strate...
1/23/2012Completes Financing With Western Areas 7500m Drill Program U...
1/6/2012Completes Flow Through Financing
1/11/2010Completes Private Placement
12/8/2009Increases Private Placement Financing and Closes First Tranc...
11/6/2009Announces Non-Brokered Private Placement
Project news of Mustang Minerals Corp
2/20/2013(Mayville)Announces Increase to Mayville Resource
11/7/2012(Mayville)Provides Update on Mayville Drilling
9/12/2012(Mayville)Drilling at Mayville Property
6/14/2012(Mayville)Intersects Higher Grade Zone of Copper-Nickel-PGM Mineraliza...
5/17/2012(Mayville)Drilling Update-Mayville Project
6/2/2011(Mayville)Drill Program Resumes at Mayville Property
5/5/2011Drills 9=2E1 Meters of 3=2E9 g/t Platinum-Palladium Strike L...
4/6/2011(Mayville)Completes Additional Holes at New PGM Zone
3/23/2011MUSTANG MINERALS ANNOUNCES NEW PLATINUM AND PALLADIUM DISCOV...
3/22/2011Announces New Platinum and Palladium Discovery in Manitoba
12/1/2010(Mayville)s Exploration at Mayville/Tanco Properties
7/13/2010(Mayville)Exploration Deal With Tantalum Mining Corporation of Canada
3/22/2010(Makwa)Updates Project Economics at Makwa Nickel Project
2/17/2010(Makwa)Makwa Nickel Project Update
9/1/2009(Makwa)Advances its Maskwa Nickel Project
6/22/2009(East Bull Lake)Western Areas-Mustang JV Commences Drilling at East Bull Lak...
3/2/2009(Makwa)Completing Drilling at Manitoba Nickel Project
1/22/2009(Makwa)Provides Update on Maskwa Nickel Project Feasibility Study
12/1/2008(Makwa)Provides Update at Maskwa Nickel Project Feasibility Study
9/12/2008(East Bull Lake)and Western Areas Sign Agreement for Joint Venture at East B...
7/3/2008(East Bull Lake)New PGM+Ni+Cu Mineralization Drilled at East Bull Lake, Onta...
6/26/2008(Makwa)Mustang Tables Positive Prefeasibility for Maskwa Nickel Pro...
5/12/2008(East Bull Lake Pgm)Drilling at East Bull
5/9/2008(Makwa) Reports Positive Results From Prefeasibility Study at Maskw...
4/23/2008(Makwa)Tests Chromite Horizon at Maskwa Property
3/3/2008(Makwa)Drill Update at Maskwa North and Maskwa West
Corporate news of Mustang Minerals Corp
10/20/2015Board Resignation
12/10/2012(Mayville)Extends Mayville Cu-Ni Deposit Mineralization to the East
7/17/2012(Mayville)Drilling Extends Copper Nickel Mineralization to Depth at Ma...
3/5/2012Provides Exploration Update Continuesto Intersect PGM Minera...
12/1/2011(Mayville)Announces Mayville Exploration-Financing
9/9/2011: Corporate Update
3/3/2011(Mayville)Drills New Surface Zone of CopperNickel Mineralization at th...
4/15/2010Expands Resources in Project Area
11/19/2009and Sagkeeng First Nation Conclude Memorandum of Understandi...
9/18/2009AGM, September 22
10/1/2008Visit Our Booth This Weekend
8/5/2008Builds Project Development Team
7/17/2008 Closing of Oversubscribed, Increased Financing
7/16/2008Announces Increase to Brokered Financing
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TSX-V (MUM.V)Other OTC (MSMGF)
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Develops Cobalt - Copper - Nickel - Palladium - Platinum
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