Mustang Minerals Corp.
TSX VENTURE : MUM

Mustang Minerals Corp.

September 08, 2005 09:51 ET

Mustang Expands M2 Zone

TORONTO, ONTARIO--(CCNMatthews - Sept. 8, 2005) - Mustang Minerals Corp. (TSX VENTURE:MUM) today provided updated drill results from the ongoing exploration at the M2 Zone. The exploration program is designed to test the M2 Zone potential for bulk tonnage copper-nickel-pgm mineralization along a 1.3 km long airborne VTEM geophysical conductor. Drill hole May-16 has expanded the M-2 Zone 60 meters to the east of previously reported results. The current program is also testing the M-2 along strike for 360 meters to the west of previously reported drill results.

To date, Mustang has completed a total of 20 drill holes at the M2 Zone. Holes May-1 to 12 have been reported in press releases dated July 5 and 26 and August 10, 2005. Holes May-13 to 16 were drilled at two stations approximately 60 meters east of the most easterly fence of holes (drill locations are shown on the Mustang website at www.mustangminerals.com - see Manitoba Nickel Properties section).

Drill hole May-16 successfully intersected the main M2 zone while drill holes May-13 to 15 intersected a weakly mineralized section of the M2 Zone.



Results from May 13-16 are tabulated below:

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Hole # Intersection Width Ni Cu Ni+ Co Pt-Pd Zone
(meters) (meters) (%) (%) Cu (%) -Au
(ppb)
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May-13 91.7-94.3 2.6 0.21 0.82 1.03 0.01 981 M2
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May-14 133.2-171.3 38.1 0.13 0.24 0.37 0.01 138 M2
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May-15 183.5-201.8 18.3 0.10 0.30 0.40 0.01 142 M2
---------------------------------------------------------------------
May-16 329.8-406.1 76.3 0.25 0.75 1.00 0.01 326 M2
envelope
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includes 341.7-375.1 33.4 0.32 1.06 1.38 0.02 463 M2-main
---------------------------------------------------------------------
includes 360.3-375.1 14.8 0.47 1.58 2.05 0.03 564 M2-main
---------------------------------------------------------------------
Estimated true widths of the above noted M2 intercepts are 2.5 meters
in May-13, 27 meters in May-14, 15 meters in May-15 and 70 meters in
May-16. Ni equals nickel, Cu equals copper, Co equals cobalt, Au
equals gold, Pt equals platinum, Pd equals palladium, % equals
percentage, ppb equals parts/billion,


Hole May-17, drilled 120 meters east of holes May-13 to16 failed to test the M2 Zone as it intersected a wide fault zone. Down hole geophysics completed on this hole by Quantec Geoscience Inc. indicated strong off-hole conductors on either side of the hole which were centered up and down dip of the hole. The moderate to large surface area conductor is interpreted to be the continuation of the M2 Zone west and east of hole May-17.

Holes May-18 to 20 were drilled from two stations 60 meters west of the holes May-9 to 12. These holes intersected the M2 zone and assays are currently pending. Step out drilling will continue on the M2 conductor in an area approximately 300 meters west of the recent drilling on M2. (May-18 to 20).

Prior to mobilizing the M2 step out holes, 5 shallow holes (May-21 to 25) were drilled on the M3 conductor located to the north of the M2 Zone. The initial drill holes intersected massive sulfide veins from 1 to 4 meters in width containing predominantly pyyhrottite and pyrite. Several select samples of massive sulphides from the first hole were sent for priority assay to determine the copper-nickel content and returned only anomalous values. Additional sampling on similar massive sulphide veins have been completed and assays are currently pending for these holes.

The current program continues to expand the M2 Zone mineralization with the objective to outline a bulk tonnage open pit resource to complement the existing resource at the Maskwa Deposit located approximately 35 kilometers by road to the south. The open pit Indicated resource (National Instrument 43-101 compliant) at Maskwa presently stands at 5.2 million tonnes @ 0.68% nickel and 0.15% copper. Below the open pit resource an underground Indicated resource exists hosting 790,000 tonnes @ 1.11% nickel and 0.14% copper. Additional sampling of intersections from the Maskwa Deposit is nearing completion and will also be reported shortly.

Mustang adheres to a strict QC/QA program which was in effect on the Mayville drill program. Secured drill core was examined and diamond sawed with the majority of all samples at 1.5 meters. One half of the core was then bagged, tagged, stapled and completely sealed before being transported by bus to a commercial laboratory, Laboratoire Expert in Rouyn-Noranda, Quebec for analytical work according to standard industry practice and analyzed for Ni, Cu, Co, Au, Pt, and Pd. The insertion of blanks and four commercial nickel sulphide reference standards was used as part of the QC/QA program on the samples. Additionally, pulps have been sent to ALS Chemex as external checks on Laboratoire Expert analysis.

Ken Lapierre P.Geo. (ON), VP Exploration for Mustang is the qualified person for National Instrument 43-101 and has reviewed the contents of this news release.

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

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