X0203 3 2011-07-21 0 0001420421 MUSTANG ALLIANCES, INC. MSTG 0001526789 Wolfe Lawrence Harris C/O MUSTANG ALLIANCES, INC. 410 PARK AVENUE NEW YORK NY 10022 1 1 0 0 Chief Financial Officer Common Stock 100000 D Stock option (right to buy) 0.50 Common Stock 1000000 D Represents a grant of restricted stock under a consulting agreement with the Issuer, dated July 21, 2011 ("Consulting Agreement"). Represents an option to purchase 250,000 shares, 250,000 shares and 500,000 shares upon production by the Issuer's mines of 12,000 ounces, 24,000 ounces and 48,000 ounces, respectively, pursuant to the Consulting Agreement. The option may be exercised for 30 days after the termination of the Consulting Agreement. /s/ Lawrence H. Wolfe 2011-07-26