Mustang Energy Corp. Completes Second Tranche of Private Placement

Overview of the Private Placement

VANCOUVER, British Columbia, July 22, 2025 — Mustang Energy Corp. (CSE: MEC, OTC: MECPF, FRA: 92T) has successfully finalized the second tranche of its previously announced non-brokered private placement, raising a total of C$976,843.40. This follows earlier announcements made on June 24 and July 9, 2025, regarding the overall offering of C$3,000,000.

Details of the Offering

In this tranche, Mustang Energy issued:

• 125,000 Non-Flow Through Units (NFT Units) at C$0.14 each, generating C$17,500.
• 814,200 Flow Through Units (FT Units) at C$0.165 each, yielding C$134,343.
• 3,510,640 Charity Flow Through Units (Charity FT Units) at C$0.235 each, bringing in C$825,000.40.

Collectively, these units are referred to as the “Offered Securities.”

Structure of the Offered Securities

Each NFT Unit comprises one common share and one share purchase warrant. Meanwhile, both FT Units and Charity FT Units consist of one flow-through share and one warrant. The warrants allow holders to purchase one non-flow-through share at a price of C$0.21 for a period of 36 months from the issuance date.

The proceeds from the FT Shares will be allocated towards exploration activities in the Athabasca Basin uranium projects and for general working capital. These funds will also be used to incur Canadian exploration expenses, which will be renounced to purchasers by December 31, 2025.

Regulatory Considerations

The securities issued in this tranche are subject to a hold period that will expire on November 23, 2025. In connection with this offering, Mustang Energy compensated Red Cloud Securities Inc. with finder’s fees totaling C$62,440.48 in cash and 281,599 share purchase warrants. Research Capital Corporation received C$4,713.10 in cash and 29,890 Finder’s Warrants, while Raymond James Ltd. was paid a cash finder’s fee of C$1,225.46.

Important Disclaimers

This announcement does not represent an offer or solicitation for the sale of securities in the United States. The securities have not been registered under the U.S. Securities Act of 1933 and cannot be sold within the U.S. or to U.S. persons unless registered or exempt from registration.

About Mustang Energy Corp.

Mustang Energy Corp. is dedicated to the exploration and development of high-potential uranium and critical mineral assets. The company manages a portfolio of 147,153 hectares in Saskatchewan’s Athabasca Basin, a leading global uranium district. Mustang employs modern exploration techniques and a data-driven approach to advance its projects, focusing on responsible exploration and high-impact targets in less-explored regions.

Leadership Statement

On behalf of the board of directors, Nicholas Luksha, CEO and Director, expresses gratitude for the support received during this financing round.

Contact Information

For further inquiries, please reach out to:

Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184

Forward-Looking Statements

This release contains forward-looking statements that involve risks and uncertainties. Actual results may differ significantly from those anticipated. The company does not undertake any obligation to update these statements unless required by law.

Neither the Canadian Securities Exchange nor the Market Regulator assumes responsibility for the accuracy of this release.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.