07:32 AM EDT, 06/19/2025 (MT Newswires) -- Mustang Energy ( MECPF ) , which lost near 8% Wednesday, said it received exploration permits from the Saskatchewan Government, allowing for ground-based exploration activities at the Spur Project south of the Athabasca Basin.

The Spur Project comprises ten claims covering 23,680 hectares.

A company statement noted that the permit, which includes Crown Land Work Authorization, Aquatic Habitat Protection Permit, Forest Product Permit and Temporary Work Camp Permit, authorizes the company to carry out mineral exploration activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling. The approved permits are valid until April 30, 2028.

The company added that as part of the permit conditions, it will continue to "engage with local communities to address any ongoing concerns and ensure sustainable project implementation."