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Mustang Energy is increasing its uranium exploration efforts in Saskatchewan following a C$3.58 million capital raise in 2025 and the acquisition of new provincial permits for drilling in 2026. The company aims to advance early-stage targets into drill-ready sites.

In 2025, Mustang conducted its first diamond drilling at the Surprise Creek uranium-copper project, targeting geophysical and structural features near the Surprise Creek Fault. Additionally, the company has progressed work around its Cluff Lake area properties through prospecting and reconnaissance to identify promising zones.