Mustang Minerals Corp.
TSX VENTURE : MUM

Mustang Minerals Corp.

June 22, 2005 10:03 ET

Mustang Minerals Corp.: Eight Holes Completed at M2

TORONTO, ONTARIO--(CCNMatthews - June 22, 2005) - Mustang Minerals Corp. (TSX VENTURE:MUM) today announced that it has completed a second fence of four drill holes on the M2 Zone at the Mayville Property located on the north arm of the Bird River Greenstone Belt (BRGB), approximately 150 km northeast by road from Winnipeg, Manitoba. Mustang is actively exploring for surface, bulk tonnage, nickel-copper-platinum group metals mineralization on its land holdings in the BRGB.

Holes 5 to 8 have been drilled along a north/south fence from two stations (110 meters apart), approximately 30 meters east of the first fence of four holes (see press release dated June 13, 2005). All 4 holes intersected the same M2 Zone mineralization as in holes 1 to 4 with similar widths of mineralized intervals. The deepest hole (hole 8) intersected M2 Zone mineralization to a vertical depth of 200 meters. The M2 Zone is coincident with a 1,300 meter long, east-west trending heliborne EM conductor that is open in all directions including to depth.

The Company has now commenced drilling a third fence of holes 30 meters to the west of holes 1 to 4. Assay results from the first four drill holes are currently pending. The Company expects to have received assays from the first four drill holes within approximately two weeks.

"We view the Mayville Property as highly prospective for a new surface, bulk tonnage discovery of nickel-copper-pgm resources to complement our existing open pit and underground resources at our Maskwa Property," said Robin Dunbar, President of Mustang. "Given the relative global scarcity of nickel-copper-pgm deposits, both properties now allow Mustang several opportunities to explore for this type of deposit model."

Assays are being completed at Expert Laboratories in Rouyn-Noranda with check assays being completed at Chemex Laboratory in Vancouver. Ken Lapierre P.Geo. (ON) is the Qualified Person for Mustang Minerals Corp. and has reviewed the contents of this news release.

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