Mount Kellett Files Presentation for Baja Shareholders

Mount Kellett Capital Management LP ('Mount Kellett?), today announced
it has filed a shareholder presentation containing critical information
regarding the need to appoint two new independent shareholder nominees
to the board of Baja Mining Corp. (TSX: BAJ) (OTCQX: BAJFF) ('Baja? or
the 'Company?).

The shareholder presentation, along with additional information and
materials, is available at the www.ShareholdersForBaja.com.

Mount Kellett is one of the largest shareholders of Baja, beneficially
owning approximately 19.9% of the shares outstanding. Mount Kellett
encourages shareholders to carefully review the Proxy Circular mailed on
February 23, 2012 and vote only their BLUE
proxy in advance of the proxy voting deadline of March 30, 2012 at 7:00
am (Vancouver Time).

Voting Instructions: If you have any questions and/or need
assistance in voting your shares, please call Kingsdale Shareholder
Services at 1-888-518-1562 or 1-416-867-2272 (collect calls accepted).

About Mount Kellett Capital Management LP

Mount Kellett is a multi-strategy private investment firm focused on
global value, special situations and opportunistic investing. The firm
has approximately 100 employees with offices in New York, Hong Kong,
London, and Mumbai. The firm currently has in excess of $6 billion in
assets under management.

Kingsdale Communications Inc.

Karen Chodzicki, 416-867-2335

or

Sard
Verbinnen & Co

Dan Gagnier / Sarah Brown, 212-687-8080