TORONTO, ONTARIO–(Marketwire – June 2, 2011) – Mustang Minerals Corp. (TSX VENTURE:MUM – News; FRANKFURT:NJF – News; “Mustang”) today appear that analysis conduct for platinum accumulation metals is resuming at its Mayville Property in southeast Manitoba. The Company additionally adapted added analysis advice from the activity including after-effects from May11-28 which was accomplished 100 meters to the west of the analysis assignment breadth which alternate awful aberrant PGE after-effects and affairs for a concerted assignment out of the PGM Zone.Drill UpdateDrilling has commenced on the Alley Aberration which is amid to the east of the PGM analysis area. This ambition was articular during a contempo analysis and consists of a arresting (480m x 240 m) induced animosity (IP) and alluring anomaly. This aberration is additionally featured on the VTEM aerial analysis aureate at Mayville in 2005. The ambition is anchored 620 meters northeast of the PGM analysis aperture and 1700 meters east of the Mayville M2 Cu Ni Deposit. A alternation of holes will be completed to analysis and explain the anomaly. The Alley Aberration is readily attainable by alley alike with bounce breach up conditions.Mayville Activity ExplorationMustang is planning a analytical assignment out of the PGM Zone ambition breadth as able-bodied as accompanying analysis at the Mayville Property during the of 2011. In accession to conduct analysis will accommodate arena and airbone geophysics, litho-geochemical and bio-geochemical surveys and added geological mapping of areas of interest. Added capacity will be attainable from the Company as affairs are implemented. Carey Galeschuk P. Geo. will be the authoritative armpit geologist.Drill after-effects were additionally accustomed for assignment aperture MAY11-28 which was accomplished 100 meters west of MAY11-07 (see Mustang Minerals account absolution March 22nd, 2011). MAY11-28 intersected several zones of aberrant mineralization with ethics of 1.9 g/t pgm Au, 0.29% nickel and 0.35% nut ( over 1.2m ) with 1.4 g/t pgm Au over 1.5m. The cartography of MAY11-28 consisted of an alternating amalgamation of ultramafic, peridotite and gabbro. Animated PGM ethics were acclaimed throughout the bedrock units. Mineralization is altered is this aperture compared with the others in the PGM Zone as it independent animated nut and nickel values. Aberrant intervals of PGM included 3.0m at 0.7 g/t from 57.0m; 5.9m at 0.6 g/t pgm from 160.6m and 4.2m at 0.9 g/t from 180.8m.Makwa Achievability StudyThe achievability abstraction for Makwa is proceeding with affairs awarded for achievability akin metallurgical testing, pit abruptness design, tailings and decay administration architecture and Environmental Impact Assessment and Permitting. The comminute apparatus purchased from Bouchard Hebert are actuality dismantled and confused off armpit by third affair contractors.QAQCAll amount samples were beatific to Accurassay Laboratories in Thunder Bay, Ontario. Analysis was completed for nickel, copper, azure and argent application an Aqua Regia assimilation followed by AAS/ICP finish. For gold, platinum and palladium, blaze appraisal of 30g aliquots followed by aggregate blaze appraisal and AAS accomplishment was employed. Assignment amount is logged and breach on armpit at the Makwa armpit with bisected the amount retained and stored. Mustang conducts an advancing QA/QC affairs on assignment amount including inserting blanks, duplicates and standards at approved intervals with all sample submissions to the laboratory.Performance OptionsThe Company additionally appear that it is arising a absolute of 920,000 allurement banal options to advisers of the Company pursuant to the banal advantage plan of the Company. The appellation of the options is for 5 years. The exercise amount of the options are a minimum of $0.30 per allotment and are accountable to authoritative approval.About Mustang MineralsIn accession to administering analysis at the Mayville Property for platinum accumulation metals Mustang Minerals has two attainable pit mineable deposits amid in Southeast Manitoba. Both accept accomplished infrastructure.1. The Makwa Activity has a NI 43-101 assets appraisal completed in Feb. 2010 by Micon International Limited categorical 9.855 actor tonnes in the Probable class absolute 0.541% nickel, 0.113% nut and 0.433 g/t PGM. Work on a achievability abstraction is advancing and the allowing action is alpha with operations planned to alpha in backward 2012.2. The Mayville Project’s M2 Deposit is amid about 35 km by alley from Makwa and has a NI 43-101 Indicated Resource of 9.227 actor tonnes absolute 0.61% copper, 0.23% nickel and 0.174 g/t palladium.Western Areas NL, an Australian based nickel ambassador owns 19.9% of the accepted shares of Mustang.Carey Galeschuk P.Geo is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp.We seek safe harbour.This account absolution contains advanced statements aural the acceptation of the United States Private Securities Litigation Reform Act of 1995 and advanced advice aural the acceptation of the Securities Act (Ontario) (together, “forward-looking statements”). Such advanced statements may accommodate the Company’s affairs for its mineral projects in Manitoba, the all-embracing bread-and-er abeyant of its properties, the availability of able costs and absorb accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements bidding or adumbrated by such advanced statements to be materially different. Such factors include, amid others, risks and uncertainties apropos to abeyant political risk, ambiguity of assembly and basic costs estimates and the abeyant for abrupt costs and expenses, concrete risks inherent in mining operations, bill fluctuations, fluctuations in the amount of nickel and added metals, achievement of bread-and-er evaluations, changes in activity ambit as affairs abide to be refined, the disability or abortion to access able costs on a appropriate basis, and added risks and uncertainties, including those declared in the Company’s Administration Discussion and Analysis for the best contempo banking aeon and Material Change Reports filed with the Canadian Securities Administrators and attainable at www.sedar.com.Shares Outstanding: 157,228,233To acquisition out added about Mustang Minerals Corp. (TSX VENTURE:MUM – News) appointment our website at www.mustangminerals.com.
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