Save River Diamond Project, Mozambique

The project area comprises 24 000 hectares in extent and is situated in the Save River Valley, in Mozambique downstream from the well-known Murowa and Marange diamond fields in Zimbabwe. Mustang has recovered multiple gem-quality diamonds from its initial bulk sampling activities, and the Company believes the Save River Project represents a robust opportunity to establish a large-scale alluvial diamond mining operation. In July 2015, Mustang recovered a 2.58 carat white diamond from the shallow surface gravels at Save River, which is the largest diamond to be recovered from the project to date.