Mesa Exploration Clarifies Technical Disclosure
Published : April 25, 2013
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Keywords :   Lithium | Potassium | Recovery | Report | Utah |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2013) - Mesa Exploration Corp. (TSX VENTURE:MSA)(PINKSHEETS:MSAJF) (the "Company") announces that, as a result of a review by the British Columbia Securities Commission (the "BCSC"), we are issuing the following news release to clarify and retract certain technical disclosure. 

In response to the BCSC's technical disclosure review, the Company's technical reports "Geology and Mineral Resources, Green Energy Project, Grand County, Utah, USA" dated March 14, 2011 (the "Old Green Energy Report"), and "Geology and Mineral Resources, Utah Potash Project, White Cloud, Salt Wash and Whipsaw Areas, Grand County, Utah, USA" dated April 30, 2011 (the "Old Utah Potash Report"), which relate to adjacent properties, will be combined into one current and complete technical report (the "Updated Green Energy / Utah Potash Report"). The Old Green Energy Report and the Old Utah Potash Report contained historical in-situ potash estimates that the Company has determined are not suitable for inclusion in the Updated Green Energy / Utah Potash Report as the Company does not have sufficient information regarding the resource estimation procedures used to derive such estimates. In particular, the Company retracts the historical estimate of the sylvite resource contained on page 15 of the Old Green Energy Report and page 19 of the Old Utah Potash Report, which was also contained in the Company's website and corporate presentation, and the estimate of the K20 equivalent contained on page 15 of the Old Green Energy Report and page 19 of the Old Utah Potash Report, and the Company's website and corporate presentation. The Company also retracts the historical estimates of lithium brine and contained tons of potassium, lithium and other minerals contained on pages 3 and 17 of the Old Green Energy Report and pages 3 and 20 of the Old Utah Potash Report, as this estimate did not include information on the grades of such minerals, and estimates of liquid reservoir brines cannot readily meet the definition of a mineral resource set out in the CIM Definition Standards.  The Company anticipates that the Updated Green Energy / Utah Potash Report will be filed on SEDAR on or before April 29, 2013. 

Also in response to the BCSC's technical disclosure review, the Company's technical report dated February 15, 2012 titled "Geology and Mineral Resources, Bounty Potash Project, Box Elder and Tooele Counties, Utah, USA" (the "Old Bounty Technical Report") will be updated with a current and complete technical report on the Company's Bounty potash property (the "New Bounty Technical Report"). The Company retracts the historical estimate of muriate of potash that was contained on pages 3 and 17 through 19 of the Old Bounty Technical Report, as well as the disclosure of such historical resource estimate contained in the news releases of the Company dated January 31, 2012 and February 16, 2012, the Company's corporate presentation and website, and the Fundamental Research Report dated March 15, 2012 (the "Research Report"), which was formerly posted on the Company's website. The Company also retracts any economic analysis based upon the foregoing historical estimate that was contained in the Old Bounty Technical Report, including estimates of potential annual production, total production or life of mine, as pursuant to National Instrument 43-101, economic analyses cannot be based on historical resource estimates. The Company anticipates that the Updated Bounty Technical Report will be filed on SEDAR on or before April 29, 2013. 

The Company's website and corporate presentation also referenced the gross value per barrel of lithium Brine in respect of the Green Energy Lithium Project, contrary to NI 43-101 requirements, which prohibit the disclosure of the gross value of metal or mineral in a deposit. The Company retracts all disclosure regarding the gross value of in-situ minerals, and these statements have been deleted from the Company's website and corporate presentation. The Company cautions that any disclosure of the gross in-situ value of a mineral deposit is meaningless and may be misleading, because it fails to take into consideration operating and capital costs, recoveries and other factors relating to the potential extraction and recovery of minerals. 

The Company's website and corporate presentation disclosed grades from the Green Energy lithium project which selective in nature, as they disclosed the highest tested grades and did not represent the total grades tested on the Green Energy lithium project. The foregoing selective disclosures have been removed from the Company's website and corporate presentation. 

The projects section of the Company's website and corporate presentation included comparisons of geological similarities between the Bounty Potash deposit and the Wendover potash mine. These statements have been deleted from the Company's website as they are not in compliance with applicable disclosure requirements, and the Company clarifies that the Bounty potash project is at an early stage of development and should not be compared with an operating potash mine. 

The Company's corporate presentation, the projects section of the Company's website, the Company's corporate presentation, the Research Reports, and several of the Company's past news releases referred to the Moonshine Spring Project being "adjacent to a 4 million pound U308 deposit owned by Denison Mines". The Company retracts the statement that the property held by Denison Mines Corp. ("Denison") adjacent to the Company's Moonshine Spring Project has a 4 million pound U308 deposit. The Company clarifies that a qualified person acting on behalf of the Company has been unable to verify the U308 deposit on Denison's property and that any deposit on Dennison's adjacent property is not necessarily indicative of mineralization on the Company's Moonshine Springs Project. Furthermore, the Company's Moonshine Springs Project, which is in an early stage of exploration, should not be compared to the deposit owned by Denison Mines Corp.

The Bounty potash project section of the Company's website disclosed that auger sampling is sufficient to "generate an updated ore reserve calculation" and that the Bounty potash project has a "historic resource estimate open for expansion". These statements have been deleted from the Company's website, and the Company clarifies that it has not demonstrated economic the economic viability of the Bounty project.

Qualified Person

Dana Durgin, AIPG Certified Professional Geologist #10364, is a qualified person within the meaning of National Instrument 43-101, and has reviewed the contents of this news release.

About Mesa Exploration Corp.

Mesa is developing and exploring a portfolio of mineral properties in the United States where it controls significant land holdings in proven mining districts with excellent access and infrastructure. Mesa currently has 14.8 million shares issued and outstanding, 50% of the shares are controlled by insiders and institutions. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Mesa Exploration Corp.
Corporate Communications
775-379-3993
www.MesaExploration.com

Mesa Exploration

EXPLORATION STAGE
CODE : MSA.V
ISIN : CA59064J1075
CUSIP : 59064J107
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Mesa Exploration is a uranium exploration company based in Canada.

Mesa Exploration holds various exploration projects in USA.

Its main exploration properties are LONE STAR UTAH, HOLBROOK, GREEN ENERGY, MOONSHINE SPRINGS and LISBON VALLEY PROJECT in USA.

Mesa Exploration is listed in Canada and in United States of America. Its market capitalisation is CA$ 967 288 as of today (US$ 726 356, € 661 565).

Its stock quote reached its highest recent level on February 11, 2011 at CA$ 1.49, and its lowest recent point on February 19, 2016 at CA$ 0.01.

Mesa Exploration has 16 121 460 shares outstanding.

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Corporate Presentations of Mesa Exploration
10/3/2007 Updated In Jay Taylor's Energy Newsletter
Financings of Mesa Exploration
6/24/2013Non-brokered Private Placement
3/23/2012Closes Non-brokered Private Placement
2/29/2012Announces Non-Brokered Private Placement
6/10/2011Announces 100% of Warrants Exercised
2/18/2011Announces Non-Brokered Private Placement
11/25/2009Announces Private Placement
11/20/2009Closes Private Placement with Pinetree Resource Partnership
11/10/2009Announces Private Placement
7/23/2008Announces Closing of Private Placement
5/30/2008Announces Private Placement
4/12/2007Closes $3 Million Private Placement
Nominations of Mesa Exploration
4/5/2012Announces Changes to the Board of Directors
Project news of Mesa Exploration
9/22/2016Agrees to Sell the Sal Rica Project
11/13/2012Acquires Gold and Silver Projects
7/31/2012Permitting Update for the Bounty Potash Project
5/16/2012Receives Utah Congressional Delegation Support for the Bount...
3/26/2012(Moonshine Springs)Drilling Confirms Uranium Zone at Moonshine Springs Project
2/22/2012(Moonshine Springs)Commences Drilling Program at Moonshine Springs Uranium Proj...
1/31/2012Acquires the Bounty Potash Project
1/25/2012(Moonshine Springs)To Drill Moonshine Springs Uranium Project
10/26/2011Acquires Seismic Data for Utah Projects
6/22/2011Receives Metallurgical Report for Lithium, Potash Project
2/9/2011(Green Energy)Retains North American Exploration Inc. for the Green Energy...
2/3/2011(Holbrook)JV Partner Passport Potash Commences Geophysical Survey at H...
2/2/2011(Lone Star Utah)Acquires Uranium Leases
6/21/2010(Moonshine Springs)Receives Drilling Permit at Moonshine Springs, Arizona
12/17/2009(Green Energy)Update
3/17/2010(Green Energy)Expands the Project
4/20/2010(Green Energy)Initiates Permitting for Green Energy Lithium Project
5/7/2008(Moonshine Springs)Conducts Radon Survey at Moonshine Springs, Arizona
Corporate news of Mesa Exploration
7/13/2016Favorable Lithium Brine Assay Results From Sal Rica
6/23/2016Acquires Sal Rica Lithium Brine Project
5/25/2016Closes Green Energy Mineral Brine Transaction
12/22/2015Re-acquires Green Energy Mineral Brine Project
12/22/2015Mesa Exploration Re-Acquires Green Energy Mineral Brine Proj...
12/17/2015Mesa Exploration Updates Four Utah Potash Projects
12/17/2015Updates Four Utah Potash Projects
6/13/2013Files Amended Technical Reports on SEDAR
4/25/2013Clarifies Technical Disclosure
3/12/2013Corporate Update
9/12/2012Reports Technical Disclosure Review and Refilling of MD&A
5/17/2012Bounty Potash Video
5/9/2012Bounty Potash Update
3/8/2012(Holbrook)Receives $300,000 Payment for Holbrook Basin
2/16/2012Files NI 43-101 Technical Report on the Bounty Potash Projec...
9/20/2011Retains Consulting Group for Potash and Lithium Drilling Sup...
8/3/2011Acquires Potash Lease in Utah
7/27/2011Commences Potash Exploration
5/4/2011Files NI 43-101 Report on Utah Potash Projects, Indicates Pr...
4/19/2011Engages IntelliMet
4/7/2011Acquires Potash Projects
3/23/2011(Green Energy)Files 43-101 Report, Expands the Green Energy Project
11/30/2010Unaware of Any Material Change
7/14/2010Signs Letter of Intent on the Holbrook Potash Project
11/4/2009Acquires Lithium Project
5/27/2009Acquires Additional Potash Projects in Utah
1/22/2009Acquires Potash Exploration Permits in Arizona
9/15/2008Acquires Utah Potash Project, Consolidates Shares
5/22/2008Signs Definitive Joint Venture Agreement with Energy Fuels
2/26/2008Expands Land Holdings, Forms WellProbe Geophysical With New ...
1/8/2008 Drills Significant U3O8 In Arizona
11/15/2007 Begins Drilling Moonshine Springs Uranium Project in Arizon...
11/14/2007 Extends Mineralization Around L-15 Discovery Hole - RAD Tar...
10/4/2007Begins Step-out Drilling On Uranium Discovery
9/10/2007Drills 17.5 Feet Grading 0.11% U3O8
7/4/2007Retains AGORACOM To Provide Investor Relations
6/27/2007Signs Second LOI with Energy Fuels Inc.
6/18/2007Begins Drilling At Lisbon Valley Project
6/5/2007Signs LOI with Energy Fuels Inc.
5/4/2007Acquires Arizona Breccia Pipe Targets
4/24/2007Lisbon Valley Project Drilling Program
4/18/2007Acquires Additional Land at Moonshine Springs
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