Mustang Resources Ltd (MUS) – ASX Release

Developing the world class Caula Vanadium-Graphite Project

Investment Highlights

  • Focused on the mining and exploration of ’New Energy Minerals’, critical commodities for the lithium and vanadium battery markets, next generation steel and fire - resistant building materials

  • Mustang is fast-tracking the world-class Caula Vanadium-Graphite project with first cash flows targeted for H2 of 2019

  • Mustang’s Caula project hosts a JORC (Measured) vanadium-graphite resource of 22 Mt @0.37% V2O5 (0.2% cut-off) and 13.4% TGC (8%cut-off) for 81,600 tonnes of vanadium pentoxide (180 million pounds) and 2.93 Mt of contained graphite

  • High grade intersections of up to 1.9% V2O5 and 29% TGC

  • Simple and robust fully integrated processing flowsheet developed to deliver both graphite and vanadium products

  • Highly experienced board of directors and management team with a proven track record in developing profitable projects in Mozambique and Africa in general

  • Mustang to change its name to ‘New Energy Minerals (ASX:NXE)’ (subject to shareholder approval at 2 October 2018 EGM)

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