Vancouver-based Mustang Energy Corp. has strategically expanded its exploration portfolio by entering Eastern Canada for the first time. The company announced on December 3, 2025, that it has staked two new mineral properties in the province of Newfoundland and Labrador.
A Strategic Move into a Mining-Friendly Jurisdiction
The acquisitions consist of the Onyx Uranium Project in southern Newfoundland and the Bridal Veil Copper-Silver Project in central Newfoundland. In total, Mustang has secured 446 mineral claims covering approximately 3,875 hectares. To facilitate this expansion, the company has completed its extra-provincial registration and is now formally authorized to conduct business in the province.
"The staking of both the Onyx and Bridal Veil properties represents an important milestone in Mustang's growth," stated Nicholas Luksha, CEO of Mustang Energy Corp. He emphasized that the move diversifies the company's pipeline with projects that offer strong geology, good infrastructure, and supportive regulatory environments.
Focus on the Onyx Uranium Property
The Onyx Project is the larger of the two new assets, comprising 143 claims over roughly 3,575 hectares. It is located about 40 kilometres northeast of Burgeo in an underexplored region. The property's geology is situated within the Hermitage Flexure, a complex structural zone.
This area has a history of high-grade uranium showings on adjacent lands, which highlights its exploration potential. Historical results from nearby occurrences, such as the He2, Doucette, and White Bear showings, have reported uranium oxide (U₃O₈) assays as high as 2.79%, 1.32%, and 0.75% respectively. Mustang notes that sample results above 1% U₃O₈ are considered high-grade.
The company was careful to clarify that mineralization on neighbouring properties does not guarantee similar findings on its new claims. No resources have been delineated yet, and significant exploration work will be required.
Unlocking Potential in Central Newfoundland
While details on the Bridal Veil Copper-Silver Project were less extensive in the announcement, its acquisition signals Mustang's interest in critical minerals beyond uranium. Central Newfoundland is recognized as a highly prospective region for base and precious metals, hosting several active exploration camps and deposits.
This dual-project strategy allows Mustang to leverage its technical expertise in uranium while gaining exposure to the copper-silver exploration thesis in a premier Canadian mining jurisdiction.
This expansion beyond its primary focus in Saskatchewan's Athabasca Basin represents a calculated step for Mustang Energy as it seeks to build a diversified, Canada-wide exploration portfolio.
