Mustang Minerals Corp. (TSX VENTURE:MUM)(FRANKFURT:NJF) ("Mustang" or the
"Company") today announced plans to complete a non-brokered financing for gross
proceeds of up to $1,900,000. The proceeds from the financing will be used
primarily for exploration and development of the companies Mayville Copper
Nickel PGE Deposit and for the Makwa Nickel Project. 


The financing will consist of a concurrent private placement of non-flow-through
Common Shares and FlowThrough Shares (the "Offerings"). The Common Share
Offering will be for Common Shares of Mustang priced at $ 0.06 per share. The
Flow Through Offering will be for common shares issued on a flow-through basis
(the "Flow-Through Shares") and will be priced at $0.065 per share. The
Offerings will be made pursuant to exemptions from the prospectus requirements
of the applicable securities laws. Shares issued under the Offerings will be
subject to a hold period of four months and one day from date of closing. 


During 2012 Mustang conducted resource definition drilling at the Mayville
Copper Nickel PGE Deposit and the Company has engaged RPA Associates to complete
an updated NI 43-101 compliant mineral resource estimate. Following completion
of a positive resource estimate preliminary economic analysis of a mining
operation combining the Makwa Ni-Cu Deposit and the Mayville Cu-Ni Deposit is
then scheduled. The two deposits are within trucking distance to each other and
are located approximately 145 km from Winnipeg in southeastern Manitoba. The
deposits and their extensive exploration horizons are located in the Bird River
Greenstone Belt within the western Superior Province, an emerging geological
area prospective for magmatic sulphide Nickel -Copper-PGE-Chromite. 


Current inventory at the projects are: 



1.  The Makwa Ni-Cu Deposit has a NI 43-101 outlined reserve estimate
    completed in February 2010 by Micon International Limited of 9.86
    million tonnes in the Probable Ore Reserve category containing 0.541%
    nickel, 0.113% copper 0.433 g/t PGM at the Makwa Project. 

2.  The Mayville Cu-Ni Deposit has a present NI 43-101 Indicated Resource of
    9.227 million tonnes containing 0.61% copper, 0.23% nickel and 0.174 g/t
    palladium. 



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: 198,160,657 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Mustang Minerals Corp.
David Black
Investor Relations
416-955-4773
info@mustangminerals.com
www.mustangminerals.com
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