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Re: News Release - Tuesday, June 05, 2007
Mesa Uranium Signs LOI with Energy Fuels Inc.
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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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Copyright (c) 2007 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 Tue Jun 5, 2007 at 8:57:01 AM Pacific Time
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