Mustang Minerals Corp.

Mustang Minerals Corp.

November 05, 2007 01:00 ET

Mustang Minerals Corp.: Surface Sampling Yields 3.6% Nickel at Maskwa Property

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2007) - Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) today announced high nickel values from surface sampling at the Maskwa Property in southeastern Manitoba Nickel values ranging from 0.175% nickel to 3.61% nickel were obtained from surface grab samples from the Dumbarton Mine horizon over a 440 meter strike length.

Geological mapping and sampling has been ongoing under the supervision of Carey Galeschuk P. Geo., the Vice President of Exploration for Mustang. Mapping, sampling and geological evaluation at Maskwa is being completed by a field crew led by Roy Shegelski, PhD. Dr. Shegelski has recently joined the Mustang geological team and is focused on interpreting the geology and determining the controls to mineralization on the Maskwa Property. The Dumbarton Mine horizon and Maskwa North zone (located to the west of Dumbarton) are priority exploration targets for Mustang. Both exploration targets are close to the Maskwa Nickel Deposit where a prefeasibility study is underway. Exploration drilling of these and other targets will commence shortly.

The nine grab samples reported below were taken over a strike length of approximately 440 meters from bedrock with an effort made to take representative samples. All samples were mineralized in copper and nickel. No previous sampling from this horizon has been reported by Mustang. Sample results are as follows:

Sample # Copper(%) Nickel(%)
15931 1.56 0.479
15932 0.292 0.348
15933 0.043 3.61
15934 0.146 2.91
15935 0.625 1.33
15936 1.10 0.644
15937 0.202 0.175
15938 0.335 0.517
15939 0.354 1.42

A sample location map is posted on the Mustang website outlining the location of the samples taken.

Further geological investigation of the surface mineralization at Maskwa /Dumbarton continues with further assay results pending. A significant Geotech VTEM conductor is coincident with the both Maskwa North zone and Dumbarton horizon.

Assays results noted in the press release were analyzed by ICP-OES at Activation Laboratories in Ancaster Ontario.

Carey Galeschuk P.Geo. is the Qualified Person for Mustang Minerals Corp. for the purposes of National Instrument 43-101.

To find out more about Mustang Minerals Corp. (TSX-V: MUM) visit our website at

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 risks involving the Company's operations, uncertainty of production and 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 parametres 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 year ended December 31, 2006 and Material Change Reports filed with the Canadian Securities Administrators and available at

Shares Outstanding: 68,493,760

The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this press release.

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