Mustang Minerals Corp. (TSXV:MUM) ("Mustang" or the "Company") today announced completion of the initial tranches of the financing announced November 20, 2014. The Company has placed 1,602,411 shares priced at $0.03 per share (Tranche 1 ) for gross proceeds of $48,072 and a second tranche of 13,433,322 shares priced at $0.015 per share for gross proceeds of $201,500. Gross proceeds of $249,572 have been received to date. The Company plans to complete an additional closing pending approval from the TSXV.

The Company issued a total of $6,545 cash consideration and 436,333 finders shares in conjunction with the Offering. All shares and finders shares issued are subject to a hold period of four months and one day from the date of closing. The offering is being made pursuant to the grant of a discretionary waiver of the TSXV’s minimum $0.05 pricing requirement and is subject to final acceptance by the TSXV.

Mustang has an extensive mineral claim position in the Bird River Greenstone Belt in southeastern Manitoba. Two National Instrument 43-101 compliant deposits have been delineated in the belt by Mustang and a NI 43-101 compliant Preliminary Economic Assessment was completed in 2014. The Company will complete downhole geophysical surveys at its Mayville and Tanco Properties in the first quarter of 2014 to further define priority Ni-Cu-PGM drill targets.

Carey Galeschuk P.Geo. is the National Instrument 43-101 Qualified Person for Mustang Minerals Corp. and has approved the contents of this release.