Mustang Completes Flow Through Financing
TORONTO, ONTARIO -- (Marketwire) -- 01/05/12 -- Mustang Minerals Corp. (TSX VENTURE: MUM)(FRANKFURT: NJF) ('Mustang' or the 'Company') today announced it has completed a second closing of a non-brokered private placement financing (the 'Offering'). The Company issued 14,358,498 flowthrough shares at a price of $0.12 per share for gross proceeds of $1,723,019.76. The Company has paid eligible finders fees of $134,961.58 and issued 1,123,013 broker warrants pursuant to the second closing. To date the Company has in aggregate issued 31,475,931 flowthrough shares for gross proceeds of $3,777,111.76. Western Areas NL will subscribe for a portion of the concurrent common share offering.
Mustang President Robin Dunbar commented that 'the Company is looking ahead to completing follow up exploration on some of the exploration targets generated to date particularly at its Mayville Property. The PGM Zone at Mayville will be a priority along with the M2 Zone at depth. We continued to be encouraged by the potential of the Mayville intrusion for future discovery of copper nickel and platinum group metals.'
Carey Galeschuk P.Geo. is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp.
To find out more about Mustang Minerals Corp. (TSX VENTURE: MUM) visit our website at www.mustangminerals.com.
We seek safe harbour.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, 'forward-looking statements'). Such forward-looking statements may include the Company's plans for its mineral projects in Manitoba, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of nickel and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.
Shares Outstanding: 188,987,105
Contacts:
Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com
www.mustangminerals.com
