NEW YORK, April 9, 2012 /PRNewswire/ -- Mustang Alliances Inc (OTC Bulletin Board: MSTG) ("Mustang") is pleased to announce that its Honduran affiliate has applied to the Honduran Ministry of Mines (DEFOMIN), for nine new Concessions totaling 9,000 hectares, in the Southern Honduras area of the Nicaraguan Trough Gold Belt. The new Concessions surround and lie adjacent to, Mustang's existing concessions thereby expanding our core concessions area. Mustang intends to submit exploration, development as well as environmental plans to DEFOMIN in the near term.
According to a 1997 report by the Entres-Mares Joint Venture between Battle Mountain Gold and Mar-West Resources, the new Concessions appears to contain "stacked epithermal quartz zones with enhanced Au (Gold), Ag (Silver) and Cu (Copper) mineralization." Previously completed surface samples in pits and trenches returned in excess of 10g/t Au values. Upon final approval from DEFOMIN, the company will incorporate the additional acreage into its 2012 exploration and development plans.
"The addition of potential nearby ounces coupled with an aggressive exploration program dovetails very well with our production plans for the Company," Robert Faber, Mustang's president commented: "This increases the scale potential of our already significant targets and adds more highly prospective ground to our portfolio. It also further positions us to be a consolidator by extending coverage over the heart of the Choluteca District which we believe has the potential to become one of Honduras' major gold producing areas."
ABOUT MUSTANG ALLIANCES INC.
Mustang (OTCBB: MSTG) is a junior mining company with a focus on the acquisition and development of precious metals properties in Honduras. Mustang has 6 concessions totaling 5,400-hectares under agreement in the Choluteca District of Honduras. Concessions are on trend to several world class gold mines in the Central American gold belt, such as the El Limon mine, Nicaragua, that has produced over 3 Million Ounces of gold to date. The Mustang Concessions are in an area that has been actively worked by artisanal miners for the past 200 years.
Certain statements in this announcement including statements such as "believes," "anticipates," "expects" and all similar statements regarding future expectations, objectives, intentions and plans for mineral exploration, development and production may be regarded as "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. Management's current view and plans, however, are subject to numerous known and unknown risks, uncertainties and other factors that may cause the actual results, performance, timing or achievements of Mustang Alliances to be materially different from any results, performance, timing or achievements expressed or implied by such forward-looking statements. The various uncertainties, variables, and other risks include those discussed in detail in the Company's SEC filings, including the Annual Report on Form 10-KSB, for the year ended December 31, 2010 and its Quarterly Report on Form 10-Q for the period ended September 30, 2011. Mustang Alliances Inc. undertakes no duty to update or revise any forward-looking statements. Actual results may vary materially.
SOURCE Mustang Alliances Inc.