The microstructure morphology and evolution of mechanical properties are investigated in this study. The results show that the phases displayed no clear change after thermal exposure at 250 °C for 200 h. The tensile strength of the as-cast alloy showed a downward trend in different degrees with the increase in the tensile temperature, while the influence of elongation was opposite to the tensile strength. In addition, the tensile strength tended to be stable after thermal exposure at 250 °C for 100 h. The main creep mechanism of the as-cast alloy at a low temperature and low stress (T ≤ 250 °C; σ ≤ 40 MPa) is grain-boundary creep. The Monkman–Grant empirical formula was used to fit the relationship between the creep life and the minimum creep rate, and the fitting results are: tr·ε˙min0.95=0.207.