Mustang Appoints Robert Faber as President

NEW YORK, Feb. 1, 2012 /PRNewswire/ -- Mustang Alliances Inc (the "Corporation") (OTCBB: MSTG) is pleased to announce the appointment of Robert T. Faber as President of the Company.

"We are very pleased that Mr. Faber has accepted the appointment as Mustang's President," stated Leonard Sternheim, CEO. "Over his long tenure as an Officer and Director of Comstock Mining Inc., Rob has demonstrated operational and project management skills and the strategic focus to position Comstock as a significant player in the U.S. mining industry. Rob's role will be to manage the day to day operations of the company.  Rob's combination of vision and operational expertise will be instrumental in leading the company on the path towards becoming a prominent player and producer in the Central American gold mining belt. Together with the entire Board of Directors and Company management, I want to extend a very warm welcome to Rob in his new role."

"I am very excited to be joining Mustang at such a pivotal time in its development," commented Rob Faber.  "I believe the Company has a solid team that will enable us to develop multiple opportunities. Honduras has vast, untapped resource potential and Mustang's properties are prime assets in this emerging mining frontier. I look forward to being a part of its future growth as we work to deliver additional value for the Company's shareholders."

Robert T. Faber, age 52, was appointed as the Company's President. Rob is also a member of the Company's Board of Directors. He has 20 years of experience in diverse financial management, business and acquisitions. Since 2003, he has held various positions at Comstock Mining, Inc. an AMEX listed precious metals company, including President, Chief Executive Officer and Chief Financial Officer. Rob led Comstock's transformation into an AMEX listed company with mineral reserves in excess of 1 million ounces of gold. Prior to joining Comstock, he served as the Vice President of United Site Services, Inc., a privately held consolidator in the waste services industry ("United Site"), from 2002 to 2003. At United Site, he was responsible for strengthening the organizational structure of the company, cash management and directing the company's acquisition and integration process. Additionally, Rob served as an executive with Allied Waste Industries overseeing a $1.2 billion, multi-state area. Prior to Allied Waste Industries, he spent 17 years with Waste Management, Inc., a publicly traded environmental services company, during which time he served in senior positions both internationally and domestically. Faber's positions included Director of Finance of Waste Management's $1.4 billion multi-country international operations based in London, England and Vice President and Controller for several $100 million plus multi-state market areas. He graduated from St. Johns University with a B.S. in Accounting in 1982.

ABOUT MUSTANG ALLIANCES INC

Mustang is a junior mining company with a focus on the acquisition and development of precious metals properties in Honduras. Mustang has 5 concessions totaling 4,400-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.

For further information, please visit our website at www.mustang-gold.com.

SOURCE Mustang Alliances Inc