Mustang Minerals Corp.
TSX VENTURE : MUM

Mustang Minerals Corp.

July 26, 2005 08:00 ET

Mustang Minerals Corp.: Mayville M2 Zone Results

TORONTO, ONTARIO--(CCNMatthews - July 26, 2005) - Mustang Minerals Corp. (TSX VENTURE:MUM) today announced the results from the second fence of drill holes at the M2 Zone of the Mayville Property. Holes 5 - 8 were drilled 30 meters east of the first four drill holes from the M2 Zone announced July 6, 2005. The M2 Zone in hole May-08 was an estimated true thickness of 79.0 meters which assayed 0.28% nickel and 0.72% copper.



Significant drill results from holes 5 to 8 are tabulated below:

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Nick- Cop-
Interval Width el per Ni+Cu- Cobalt Pt-Pd-Au
Hole # (meters) (meters) (%) (%) (%) (%) (ppb) Zone
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May-05 18.6-37.2 18.6 0.19 0.48 0.67 0.02 323 M2/wall
rock
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69.8-72.9 3.1 0.37 1.10 1.47 0.02 577 M2-high
grade
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May-06 30.8-98.2 67.4 0.26 0.68 0.94 0.02 504 M2-
envelope
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includes 81.0-98.2 17.2 0.53 1.39 1.92 0.03 891 M2-high
grade
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includes 81.0-90.5 9.5 0.67 1.98 2.65 0.04 1233 M2-high
grade
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May-07 127.2- 63.7 0.23 0.57 0.80 0.01 334 M2-
190.9 envelope
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includes 127.2- 10.9 0.27 0.96 1.23 0.02 468 M2-high
138.1 grade
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includes 181.0- 9.9 0.41 1.02 1.43 0.03 388 M2-high
190.9 grade
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May-08 140.8- 81.8 0.28 0.72 1.00 0.01 339 M2-
222.6 envelope
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includes 174.4- 9.1 0.39 1.16 1.55 0.02 417 2-high
183.5 grade
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includes 191.1- 21.4 0.41 1.14 1.55 0.02 368 M2-high
212.5 grade
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includes 207.9- 4.6 0.53 1.59 2.12 0.03 555 M2-high
212.5 grade
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Ni equals nickel, Cu equals copper, Co equals cobalt, Au equals gold,
Pt equals platinum, Pd equals palladium, % equals percentage,
ppb equals parts/billion.


Holes 5 to 8 were drilled from south to north, along two drill stations on a north-south fence 30 meters east of previously reported holes 1 to 4. Hole's 5 and 6 were drilled from the first station at -45 and -85 degrees respectively. Hole 5 intersected sections of non-mineralized mafic flows and dykes in the footwall of the zone thereby reducing the grade of the M2 Zone in this area.Hole 6 intersected an M2 Zone true thickness of 46 meters. Holes 7 and 8 were drilled 110 meters south of the first station at -50 and -68 degrees respectively. Both holes flattened considerably hence the apparent thickness represents close to true thickness of the M2 zone. Hole 7 represents a true thickness of 61 meters while hole 8 represents a true thickness of 79 meters.

The M2 Zone is associated with a 1.3 km airborne Mag/VTEM survey conductor from a survey recently completed by Geotech Limited over 22 km of the northern arm of the Bird River Greenstone Belt where the 12 km long Mayville intrusion and the M2 nickel-copper discovery are located. The geophysical survey identified the M2 Zone and at least 5 other late time priority conductors designated for future follow up. Additionally, Mustang controls approximately 16 km of strike along the southern arm of the BRGB where Mustang's 100% owned Maskwa Nickel Deposit is located. The Maskwa Nickel Deposit currently contains a 6.0 million tonne open pit and underground resource @ 0.74% nickel and 0.15% copper which is classified as Indicated under National Instrument 43-101.

Drilling is again underway at the M2 Zone. The immediate exploration program is to continue to define the extent and to determine the grade continuity of the M2 nickel-copper zone by drilling along the remaining untested 1.2 km long strike extent of the M2 geophysical conductor up to a maximum depth of 400 meters. A series of drill fences are anticipated to be completed along strike of the first twelve drill holes.

Mustang adheres to a strict QC/QA program which was in effect on the Mayville drill program. Secured drill core was examined, diamond sawed at lengths between 0.1 meters and 1.5 meters, 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 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.

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

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.

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