Mesa Exploration to Drill Moonshine Springs Uranium Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/12 -- Mesa Exploration Corp. (TSX VENTURE: MSA)(PINKSHEETS: MSAJF) ('Mesa') is pleased to announce that a rotary drilling program will commence in two weeks at the 100% owned Moonshine Springs uranium project in northwestern Arizona. The drilling program will test for extensions of the known mineralized system, previous drilling by Mesa intercepted 7.5 feet of 0.21% U3O8 in hole M1 and 4 feet of 0.47% U3O8 in hole M2 in altered sandstone at depths of 700 feet. Mesa conducted two radon soil sampling programs resulting in the definition of elevated radon, a possible indication of uranium mineralization at depth; these targets will also be drill tested.
Uranium exploration in the Moonshine Springs area by Pathfinder Mines and Exxon Minerals led to the discovery of a 4 million pound U3O8 deposit in the 1980s. The deposit is owned by Dennison Mines and is located within 2 miles of Mesa's project.
About Mesa Exploration
Mesa is developing and exploring a portfolio of mineral properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 14 million shares issued and outstanding, and no debt. For further information please visit our website at www.MesaExploration.com.
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
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.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
Contacts:
Mesa Exploration Corp.
Corporate Communications
775-771-5219
www.MesaExploration.com