Mustang Energy Provides Update on Annual General and Special Meeting Materials

VANCOUVER, British Columbia, Oct. 24, 2025 (GLOBE NEWSWIRE) — Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) announces that the notice of meeting, information circular, financial statement request form and proxy form (the “Meeting Materials”) for the Company’s upcoming annual general and special meeting (the “Meeting”) to be held on November 14, 2025 at Suite 2501 – 550 Burrard Street, Vancouver, BC, Canada at 10:00 am PST have been mailed and are posted and accessible on the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at https://www.mustangenergy.ca/about. Shareholders can request a copy of the AGM Materials by email at teresa79@gmail.com or by calling 604.428.7050.

At the Meeting, the shareholders will be asked to approve the following resolutions at the Meeting:

1. the setting of the number of directors of Mustang at three (3);
2. the election of Nicholas Luksha, Teresa Rzepczyk and Constantine Carmichel as directors of Mustang;
3. the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of Mustang for the fiscal year ending December 31, 2025 and to authorize the directors of Mustang to fix the remuneration to be paid to the auditors for the fiscal year ending December 31, 2025;
4. the approval of a plan of arrangement (the “Arrangement”) under the provisions of Division 5 of Part 9 of the Business Corporations Act (British Columbia) (the “BCBCA”), involving, among others, Mustang and its wholly-owned subsidiary, Allied Strategic Resource Corp. (“Allied”), in accordance with the terms of the arrangement agreement dated October 9, 2025 between Mustang and Allied (as it may be amended, supplemented or otherwise modified from time to time);
5. the adoption by Allied of an omnibus equity incentive plan; and
6. the approval of a special resolution authorizing the Company to consolidate the issued and outstanding common shares of the Company on the basis of up to thirty (30) pre-consolidation Mustang Shares for one (1) post-consolidation common share.

Shareholders may access the meeting materials at the aforementioned websites and can contact Odyssey Trust Company at proxy@odysseytrust.com to obtain their voting control numbers.

There are four ways to vote your proxy:

• To Vote Your Proxy Online please visit:

https://login.odysseytrust.com/pxlogin and click on VOTE.  You will require the CONTROL NUMBER printed with your address to the right on your proxy form. If you vote by Internet, do not mail the proxy.

• By Email to proxy@odysseytrust.com.
• By mail or personal delivery to Odyssey Trust Company, Attn: Proxy Department, Suite 702, 67 Yonge St., Toronto, ON M5E 1J8.
• By fax to Odyssey, to the attention of the Proxy Department at 1-800-517-4553 (toll free within Canada and the U.S.) or 416-263-9524 (international).

If you are a registered holder of common shares of Mustang (the “Mustang Shares”), you will need to complete, sign, date and return the form of proxy by no later than 10:00 A.M. (Vancouver time) on November 12, 2025, to ensure that your Mustang Shares are voted at the Meeting in accordance with your instructions, whether or not you are able to attend in person. If you hold your Mustang Shares through a broker or other intermediary, you should follow the instructions provided by them to vote your Mustang Shares.

About Mustang Energy Corp.:

Mustang Energy is a Canadian mineral exploration company focused on the discovery and development of high-potential uranium and critical mineral assets. The Company holds a portfolio of 147,153 hectares of strategically located properties in Saskatchewan’s Athabasca Basin—one of the world’s premier uranium districts. Mustang is advancing early-stage exploration through modern techniques and a disciplined, data-driven approach. The Company is committed to building long-term value through responsible exploration and a focus on high-impact targets in underexplored areas.

For further information, please contact:

Mustang Energy Corp.

Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184

Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.