| ||May 17, 2006|
Mesa Acquires Additional Claims in Lisbon Valley Utah
| ||Mesa Uranium Corp. (the "Company") is pleased to report that it has acquired, through staking, an additional 15 mining claims totaling 310 acres at the wholly owned Lisbon Valley uranium project in the Lisbon Valley Mining District in Utah, USA. The claims are contiguous with the northeastern portion of the company's large land position adjacent to the Lisbon Mine. Overall the company controls approximately 27 square miles of mining claims and state mineral leases.|
The Lisbon Valley district produced over 85 million pounds of uranium accounting for over 80% of the uranium mined in the state of Utah and had some of the highest uranium grades in the United States averaging 0.4 percent uranium.
Permits have been submitted for the initial phase of a 35 hole exploration program which concentrates on targets along strike with the main ore trend of the Lisbon Mine, the largest mine in the district, which produced over 22 million pounds of uranium. The Lisbon Mine is located within 800 feet of the northern perimeter of the Company's claims.
The dominant feature of the Lisbon Valley is a 16 mile long faulted structural dome, the Lisbon Valley anticline. Several large uranium mines with an aggregate of over 63 million pounds of uranium production occur on the southwestern flank of the anticline along a mineralized trend that is ½ mile wide and 16 miles long. During the 1960's, miners and geologists working in the District observed this trend and postulated a genetic relationship between the uranium deposits and the anticline and determined that more mines might occur on the northeastern side of the faulted anticline in a similar pattern as the southwestern flank.
The exploration concept was validated in 1968 when a series of wildcat drill holes discovered the Lisbon Mine on the northeast side of the anticline, ultimately becoming the largest uranium producer in the district. Two 2,300 foot shafts accessed the ore and a 700 ton per day mill produced yellowcake (uranium oxide) in a period when U3O8 prices averaged $21.00 per pound, the current price is $42.75 per pound. Rio Algom operated the mine between 1972 and 1988. The decline of uranium mining in the late 20th century brought a halt to further exploration until now.
Mesa is using this geologic framework to guide exploration efforts focused on the northeastern side of the anticline in the hopes of discovering what could be the other half of the Lisbon Valley Mining District. The Lisbon Valley Mining District is located in the Colorado Plateau region, 30 miles south of Moab in San Juan County, Utah.
The project area is fully described in a current National Instrument 43-101 compliant report available for examination on www.mesauranium.com and on www.sedar.com.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
(signed) Greg French, Vice President, Exploration
For further information call:
Wayne Marsden, toll free 866-337-1235
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
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