Drill Core Intersects High Grade Copper/Silver Values at the Roberts Polymetallic Horizon Total Strike Length Now Exceeds 30,000 Feet

Business Wire, March 9, 1998

TORONTO--(BUSINESS WIRE)--March 9, 1998--Mustang Gold Corp.(CANADIAN DEALING NETWORK:MUST) The Management of Mustang Gold Corp. is pleased to announce that high grade copper-silver values were intersected during the recently completed diamond drill core program on the Roberts Polymetallic Horizon along the R-1 Zone.

The Company's 100 percent owned, over 10 square mile Pearl Canyon Property is located in Humboldt County, Nevada. The property is situated at the intersection of the northwest trending Battle Mountain-Eureka Trend and the northeast trending Black Rock Structural Complex.

A total of 6 holes of HQ core size (M98-28 to M98-33) were drilled to twin several reverse circulation (RC) holes recently completed by the Company. Core holes M98-30 and M98-33 twinned RC holes M97-14 and M97-13 for the purpose of comparing grades at the same drill hole locations in the R-1 Zone.

Significant diamond drill core assay results received by the Company on March 6, 1998 from Barringer Laboratories in Reno, Nevada are outlined below:

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Drill Hole            Zone  Copper   Silver   Core     Depth
                          (Percent)                    Length
                                             (feet)    (feet)
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M98-30(x)  Average    R-1    2.31   19.5 g/t  10.4  73.0 - 84.4
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          (breakdown)        4.73   59.3 g/t   3.0  73.0 - 76.0
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                             1.41    5.3 g/t   3.0  76.0 - 79.0
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                             1.42    1.6 g/t   2.5  79.0 - 81.5
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(x)M98-30
twinned M97-14               1.10    2.7 g/t   1.9  81.5 - 84.4
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M98-31     Average    R-1    1.18   36.7 g/t  21.3  11.7 - 33.0
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          (breakdown)        1.76   29.6 g/t   3.3  11.7 - 15.0
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                             1.01   25.2 g/t   5.0  15.0 - 20.0
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                             1.64   67.6 g/t   5.0  20.0 - 25.0
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                             0.76   27.4 g/t   8.0  25.0 - 33.0
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M98-33(x)  Average    R-1    2.55   44.4 g/t  48.0   2.0 - 50.0
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          (breakdown)        1.75    3.7 g/t   3.0   2.0 -  5.0
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                             2.33   24.6 g/t   5.0   5.0 - 10.0
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                             4.27   80.3 g/t   3.3  10.0 - 13.3
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                             1.34    3.3 g/t   4.4  13.3 - 17.7
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                             1.87    7.1 g/t   2.3  17.7 - 20.0
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                             3.25   19.8 g/t   5.0  20.0 - 25.0
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                             3.14   82.7 g/t   5.0  25.0 - 30.0
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                             2.00   57.5 g/t   5.0  30.0 - 35.0
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                             2.64   56.6 g/t   5.0  35.0 - 40.0
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                             2.50   45.5 g/t   5.0  40.0 - 45.0
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(x)M98-33
twinned M97-13               2.75   77.8 g/t   5.0  45.0 - 50.0
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