| ||June 05, 2007|
Mesa Signs LOI with Energy Fuels Inc.
| ||Mesa Uranium Corp. (TSX.V: MZU) ("Mesa") is pleased to report that the Company has signed a Letter of Intent (LOI) to form a joint venture with Energy Fuels Inc. (TSX: EFR) ("Energy Fuels") to explore the Dar property in the Lisbon Valley Mining District of San Juan County, Utah. The Dar property consists of 60 recently staked mining claims (approximately 1,240 acres) located one mile west of the North Alice Mine and is on trend with historic uranium mines in the Lisbon Valley District. Historic production from this district was reported in 1990 by the Utah Geological and Mineralogical Survey to be approximately 77,900,000 pounds of U3O8 between 1948 and 1977. Further, the U.S. Atomic Energy Commission reports production before 1967 from the North Alice Mine alone of 3,071,365 pounds of U3O8 at a grade of 0.275%.|
The Joint Venture contemplates a 50-50 shared expenditure agreement to conduct exploration drilling on the Dar property. Previous exploration work in the 1980's by Energy Fuels Nuclear, Inc. discovered strong uranium mineralization in several drillholes. Pending completion of the joint venture agreement Mesa, as operator, will conduct the initial exploration work consisting of permitting and drilling. Should an economic uranium deposit be discovered on the joint venture claims, Energy Fuels will operate any mine that is developed.
Gregory French, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the content of this press release.
About Mesa Uranium
Mesa Uranium Corp. is a Canadian exploration company exploring for uranium in the Colorado Plateau region of Southwestern United States. Our land position is in excess of 31,500 acres of mineral claims and state leases in highly prospective uranium districts in Utah and Arizona. For further information about Mesa Uranium please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
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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