Mustang Minerals Corp.

NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE - A SERVICE OF ITG

FOR:  MUSTANG MINERALS CORP.

Shares Outstanding: 15,347,608

CDNX SYMBOL:  YMU

APRIL 4, 2001 - 16:29 EDT

Mustang Minerals: Exploration Results at River Valley

TORONTO, ONTARIO--Mustang Minerals Corp. (YMU:CDNX) and Impala 
Platinum Holdings Limited ( Implats ) today announced exploration 
results from the ongoing drill program at the River Valley 
Property.  The property comprises over 600 mining claim units and 
28 kilometers of prospective horizon along the north and south 
margins of the River Valley layered intrusion near Sudbury Ontario
 

Drilling is testing a 4.5 km zone of PGM mineralization located 
along the north contact of the River Valley intrusion.  The 
mineralized zone has now been traced for 1.4 km by widely spaced 
drill holes. Holes 13,17 and 19 to 21 intersected values in a 
stratiform gabbroic rock unit termed the "chaotic zone". 
Significant values obtained in these drill holes are outlined in 
the table below:  


/T/

River Valley North Margin Drill Holes    Pt/Pd/Au grams per tonne (g/t)
-----------------------------------------------------------------------
Hole #     From  To    Width    Pt-Pd-Au    Pt    Pd    Au    Cu    Ni
                      (meters)                                 %     %
-----------------------------------------------------------------------
   13      283  310     27        0.31     0.10  0.19  0.02  0.04  0.03
-----------------------------------------------------------------------
   and     317  346     29        0.32     0.12  0.18  0.02  0.03  0.01
-----------------------------------------------------------------------
   17      363  469    106        0.41     0.18  0.19  0.04  0.06  0.01
-----------------------------------------------------------------------
   19       53  108     55        0.33     0.12  0.19  0.02  0.06  0.02
-----------------------------------------------------------------------
   and     155  184     29        0.53     0.26  0.22  0.05  0.05  0.01
-----------------------------------------------------------------------
   20        8   25     17        1.07     0.42  0.60  0.05  0.10  0.02
-----------------------------------------------------------------------
 includes   16   25      9        1.56     0.63  0.87  0.06  0.15  0.03
-----------------------------------------------------------------------
 includes   23   25      2        5.02     1.97  2.98  0.07  0.14  0.04
-----------------------------------------------------------------------
 includes   24   25      1        8.19     3.33  4.79  0.07  0.05  0.05
-----------------------------------------------------------------------
   and      60   81     21        0.79     0.41  0.32  0.06  0.05  0.01
-----------------------------------------------------------------------
 includes   60   74     14        0.89     0.46  0.37  0.06  0.06  0.01
-----------------------------------------------------------------------
   21       81  145     64        0.49     0.15  0.31  0.03  0.07  0.04
-----------------------------------------------------------------------
 includes  135  145     10        1.12     0.35  0.74  0.03  0.07  0.05
-----------------------------------------------------------------------

/T/

 Note: Holes 14 to 16 and 18 were drilled between the chaotic zone
and  the intrusion for stratigraphic purposes and did not 
intersect  significant mineralization.  Assays were completed at 
XRAL Laboratories in Rouyn-Noranda.  

Rhodium Values  

Selected samples were assayed for rhodium at XRAL Laboratories 
with check assays completed at ALS Chemex. Values associated with 
the chaotic layer returned up to 0.57 g/t rhodium. Values 
associated with the higher grade olivine gabbronorite layer 
intersected in previously released Hole 12 (1.0 meter @ 9.15 g/t 
Pd+Pt+Au) assayed  0.93 g/t rhodium. An initial check assay 
returned 0.40 g/t rhodium and a second check assay from the 
original sample assayed 1.70 g/t rhodium. 

Program Continuing  

A systematic evaluation of the north contact will continue on a 
reconnaissance drill pattern in order to expand the known horizon 
of PGM mineralization. Drilling is currently progressing northwest
tracing the stratigraphic horizon towards the Pacific North West 
Capital Corp./ Anglo Platinum joint venture property. On the south
margin a second drill has commenced operation. This drill will 
test the mineralized potential in the area of the Tomrose Zone 
which is located 8 kilometers to the southwest.      

Mustang and Implats are encouraged by the continuity and 
widespread nature of mineralization along the north contact and by
the presence of local high grade intercepts of platinum, palladium
and rhodium. The 4.5 km long north contact on the Mustang/Implats 
property represents a highly prospective environment for the 
discovery of bulk tonnage PGM mineralization and higher grade 
zones created by structural traps, faulting and/or other 
concentrating processes.  

The first  21 drill holes reported on to date total 5,421 meters. 
A total of 17,000 meters  ( in approximately 75 holes ) are 
expected to be completed by mid June 2001. Drill results will 
continue to be released on a periodic basis.  

The River Valley PGM Project is a $6.2 million joint venture 
between Mustang Minerals Corp., a junior exploration company based
in Toronto Canada and Implats, the world's second largest primary 
producer of platinum group metals based in Johannesburg, S. 
Africa.   



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