08:16 AM EST, 01/13/2025 (MT Newswires) -- Mustang Energy ( MECPF ) said over the weekend that it acquired the Konigsstuhl uranium project in Saskatchewan.

The project is located 25 kilometers northwest of Cameco's (CCO.TO) McArthur River mine and 45 kilometers southwest of Cameco's Cigar Lake mine.

"With a strong technical team and access to an exceptional geophysical dataset, we are looking to advance exploration efforts and generate new opportunities for discovery on this underexplored property," said Nick Luksha, CEO of Mustang.

The company's share price rose 3.6% on Friday to $0.29 on the TSX.