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Re: News Release - Monday, September 15, 2008
Mesa Uranium Acquires Utah Potash Project, Consolidates Shares
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Mesa Uranium Corp. (TSX-V: MZU)("Mesa") is pleased to announce that it has filed
potash exploration permit applications with the Bureau of Land
Management. The project has excellent potential for potash from both
solution mining and naturally-occurring potash brines. The 25,500 acre
area (40 square miles)White Cloud potash project is located 40 miles
north of our Lisbon Valley uranium project in southeastern Utah.
Access and infrastructure are considered good as the project is close
to rail, interstate highway and power lines.
The White Cloud project is located in the Paradox Basin, a geologic
province known to contain potash deposits and potash brine. The United
States Geological Survey and Utah Geological Survey have documented
these occurrences in various reports. The project is within an area
categorized as a high potential "known mineral deposit area" for potash
beds by the U.S. Bureau of Mines. Mesa plans to obtain reports and
radiometric logs from historic oil drilling on the project to assess
grade, thickness and depth of the potash beds and grade and flow rates
for the potash brines. Sources for the information have been
identified and Mesa is currently acquiring and evaluating the
information to guide future exploration work.
Solution Mining Potential
The project is located 1.5 miles north of Intrepid Potash's Cane Creek
potash mine with 2007 production of 77,000 tons of potash and 109,000
tons of by-product salt. Potash is produced from the 11 foot thick
potash zone #1 bed that averages 25-30% potash. Operations commenced
in 1964 as an underground mine and later converted in 1970 to a system
combining solution mining and solar evaporation. Water is injected
into the potash bed to dissolve potash and salt creating a brine
solution. This brine is then pumped to the surface and piped into
solar ponds to evaporate. Once the material is dry it is collected and
separated into potash and salt at an adjacent mill. Solution mining
and solar evaporation is a low-cost and energy-efficient method of
producing potash. The +300 days per year of sunshine, low humidity,
mild winters and dry climate of the area provide excellent evaporation
conditions.
The potash zone #1 bed being mined at the Cane Creek mine extends on to
the White Cloud project as do potash zones #2 thru #9 as described by
government agency and private reports.
Natural Potash Brine Potential
A 48 square mile artesian brine aquifer containing potash was
discovered in oil exploration wells at the White Cloud project and
adjacent areas in the 1960s. Initial oil exploration wells experienced
high-flow blow-outs when they unexpectedly drilled into super-saturated
brine within a 30 foot thick shale unit above potash zone #2.
Subsequent oil wells utilized weighted drilling fluids to control brine
flows and prevent blow-outs. If found to be persistent and of economic
potash grade, the brine could provide sufficient production without the
need for injection and production wells and pumps as used in
traditional potash solution mines.
Share Consolidation
Mesa also announces that its share capital will be consolidated on a
three (3) old for one (1) new basis effective at the opening of the
market on September 16, 2008. The share consolidation puts Mesa in a
better position to raise capital and move forward on exploration and
development work on our potash and uranium projects. The
post-consolidated shares of Mesa will trade under the symbol "MSA".
There are presently 28,711,134 shares issued and outstanding in the
capital of Mesa and following the share consolidation, there will be
9,570,378 shares issued and outstanding. The share consolidation was
approved by shareholders at the Annual and Special Meeting held July 9,
2008.
About Potash
Potash (K2O potassium oxide) is a fertilizer essential to plant
nutrition and is critical to modern agriculture. A growing world
population is accelerating the need for higher crop yields, leading to
massive growth in demand. Potash demand is reflected in the price
trend, with prices increasing from $100 per ton in 2000 to over $900
per ton in 2008. The United States is the world's largest consumer of
potash and imports over 80% of its requirements (7.1 million tons in
2007).
About Mesa Uranium
Mesa is a resource development company focused on uranium and potash
exploration in Utah and Arizona and is well positioned to benefit from
an increasing worldwide demand for energy and food. For further
information about Mesa 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:
Foster Wilson, President and CEO, toll free 1-866-699-9888
The TSX Venture Exchange has neither approved nor disapproved of the
contents of this news release.
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Copyright (c) 2008 MESA URANIUM CORP. (TSX-V: MZU) All rights reserved. For
more information visit our website at http://www.mesauranium.com/ or
send mailto:info@mesauranium.com
Message sent on Mon Sep 15, 2008 at 7:00:00AM Pacific Time
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