Mayville Cu-Ni-PGM

Mustang has an 89% interest in Mayville Property which it acquired through a series of transactions in
2005. The Company acquired the Property subject to a 2% Net Smelter Return Royalty.  Mustang has subsequently repurchased the NSR.
The property is located approximately 140 kilometers northeast of Winnipeg. It is reachable by all weather roads and logging trails. Mineral tenure is held through unpatented mining claims.
A mineral resource was completed for Mayville in February 2013 and updated as part of the PEA.

TABLE 1-3 MINERAL RESOURCE SUMMARY AS OF NOVEMBER 27, 2013 / RPA Inc.

Mustang Minerals Corp. – Makwa-Mayville Project

Class and Deposit	Tonnes (Mt)	Ni (%)	Cu (%)	Pt (g/t)	Pd (g/t)	Au (g/t)	Co (%)
Indicated Makwa Mayville	7.2 26.6	0.61 0.18	0.13 0.44	0.10 0.05	0.36 0.14	N/A 0.05	0.01 N/A
Total Indicated	33.8	0.27	0.37	0.06	0.19	N/A	N/A
Inferred Makwa Mayville	0.7 5.2	0.27 0.19	0.08 0.48	0.05 0.06	0.14 0.15	N/A 0.04	0.02 N/A
Total Inferred	5.8	0.19	0.43	0.06	0.15	N/A	N/A

Notes:
1.     CIM Definition Standards have been followed for classification of Mineral Resources
2.     Mineral Resources are reported at a net smelter return (NSR) cut-off value of C$15/tonne at Mayville and C$20.64/tonne at Makwa
3.     At Mayville, NSR values are calculated in C$ using factors of $51 per % Cu and $41 per % Ni. These factors are based on metal prices of US$3.40/lb Cu and US$8.50/lb Ni, estimated recoveries and smelter terms, and a US$/C$ exchange rate of 0.97.
4.     The Makwa Mineral Resources are estimated using metal prices of US$3.40/lb Cu and US$8.50/lb Ni, estimated recoveries and smelter terms, and a US$/C$ exchange rate of 0.97. The NSR factors used are: $87.33 per % Ni, $29.65 per % Cu, $38.25 per % Co, $0.14 per g/t Pt and 0.08 per g/t Pd.
5.     Totals may not add correctly due to rounding.

 

TARGET AREAS FOR 2015 GROUND EM

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MAYVILLE PIT SHELL AND COPPER GRADE:

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 % Copper by Block

 

 

 

 

SIMPLIFIED GEOLOGY MAP OF MAYVILLE PROPERTY

   

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M2 ZONE LONG SECTION Historical showing pierce point

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MAYVILLE DEPOSIT - LONG SECTION (East End)

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DRILL RESULTS

Drillhole	From	To	Core Length	Nickel	Copper
	(m)	(m)	(m)	(%)	(%)
M-15	64.5	111.0	46.5	0.15	0.37
M-16	50.3	63.1	12.8	0.31	0.92
M-19	45.7	92.8	47.1	0.15	0.37
M-21	118.8	135.6	16.9	0.17	1.39
MAY05-01	6.1	46.6	40.5	0.28	0.83
MAY05-02	13.1	91.4	78.3	0.29	0.72
MAY05-03	86.6	131.7	45.1	0.26	0.81
MAY05-04	185.0	241.4	56.4	0.29	0.58
MAY 05-05	18.6	54.6	36.1	0.15	0.34
MAY 05-06	30.8	98.2	67.4	0.26	0.68
MAY 05-07	127.2	172.8	45.6	0.2	0.55
MAY 05-07	177.0	201.8	24.8	0.25	0.61
MAY 05-08	139.3	183.5	44.2	0.24	0.63
MAY 05-08	191.1	222.5	31.4	0.31	0.63
MAY 05-09	9.6	51.5	41.9	0.27	0.56
MAY 05-10	12.2	68.7	56.5	0.25	0.68
MAY 05-11	122.5	143.0	20.4	0.39	0.74
MAY 05-12	150.0	200.3	50.3	0.18	0.4
MAY 05-16	331.3	406.1	74.7	0.24	0.75
MAY 05-20	227.7	276.5	48.8	0.2	0.42
MAY 05-26	46.3	78.3	32.0	0.18	0.5
MAY 05-31	174.4	214.0	39.6	0.15	0.31
MAY 05-33	18.9	70.6	51.7	0.18	0.42
MAY 05-37	95.6	134.1	38.6	0.21	0.44
MAY 06-38	45.5	93.6	48.1	0.22	0.73
MAY 06-39	146.3	200.3	54.0	0.19	0.7
MAY 06-41	162.2	210.9	48.8	0.22	0.53
MAY 06-42	27.6	52.4	24.8	0.22	0.83
MAY 06-43	82.3	97.8	15.5	0.26	0.86
MAY 06-46	209.4	270.4	61.0	0.24	0.51
MAY 06-50	14.3	31.1	16.8	0.30	0.75
MAY 06-53	158.8	177.4	18.6	0.20	0.54
MAY 06-54	111.9	136.3	24.4	0.21	0.64
MAY 06-54	169.8	206.4	36.6	0.12	0.28
MAY 06-55	208.3	350.5	142.2	0.19	0.41
MAY 06-56	163.7	189.1	25.4	0.15	0.4
MAY 06-58	205.0	287.1	82.1	0.18	0.4
MAY 06-59	68.3	93.6	25.3	0.18	0.36
MAY 06-61	178.6	211.5	32.9	0.13	0.27
MAY 06-63	29.6	60.1	30.5	0.1	0.26
MAY 06-67	247.5	279.5	32.0	0.16	0.35
MAY 06-69	100.9	114.8	13.9	0.22	0.81
MAY 06-70	178.6	215.5	36.9	0.13	0.32
MAY 06-72	84.4	96.2	11.7	0.16	0.97
MAY 06-73	185.8	258.5	72.6	0.21	0.34
MAY 06-74	207.0	232.3	25.3	0.22	0.44
MAY12-43	361.0	387.0	26.0	0.19	0.55
MAY12-49	237.0	341.0	104.0	0.15	0.4
MAY12-56	240.7	362.0	121.3	0.16	0.38
MAY12-57	330.7	373.8	43.1	0.32	0.76
MAY12-58	211.0	217.6	6.6	0.2	0.93
MAY12-135	235.6	258.4	22.8	0.13	0.25
MAY12-136	339.3	343.4	4.0	0.22	0.85
MAY12-137	363.0	369.0	6.0	0.15	0.34
MAY12-138	309.0	337.0	28.0	0.14	0.33
MAY12-139	346.9	361.0	14.1	0.13	0.41
MAY12-140	317.0	363.0	46.0	0.15	0.43
MAY12-143	174.47	193.0	18.53	0.16	0.56
MAY13-146	99.00	103.81	4.81	0.08	0.34
MAY13-146	114.57	125.65	11.08	0.18	0.58
MAY13-149	96.50	98.50	2.00	0.01	1.34
MAY13-153	7.94	21.30	13.36	0.23	0.74
MAY13-156	33.53	41.43	7.90	0.44	1.24
MAY13-156	34.46	35.01	0.55	2.17	0.32
MAY13-156	53.75	62.00	8.25	0.11	0.29
MAY13-156	85.00	89.00	4.00	0.23	0.68

 

2013 DRILLING    (Click on images to view larger version)cl

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2012 DRILLING SECTION L27W

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2012 DRILLING SECTION L29W  

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2012 DRILLING SECTION L31W 

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MAYVILLE PROPERTY M2 DEPOSIT SECTION 23W (looking west)

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MAYVILLE M2 ZONE DRILL CORE FROM MAY12-57

 

 

MAYVILLE M2 ZONE  DRILL CORE FROM MAY05-16

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