[Marinir] {Disarmed} Mesa (TSX-V: MSA) Acquires 5-Million-Tonne Bounty Potash Project

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Tue Jan 31 14:44:53 CET 2012


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http://www.mesaexploration.com/s/Home.asp 

Mesa Exploration Acquires the Bounty Potash Project 

Mesa Exploration Corp. (TSX-V: MSA 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=MSA&region=C&lookup=symbol&snapshot=default 

) is pleased to announce the acquisition of the 104 square mile Bounty 
potash project in the Great Salt Lake Desert of western Utah. The 
project is 15 miles north of Intrepid Potash's Wendover operation, a 
potash mine which is chemically and physically analogous to the deposit 
at the Bounty project. The Wendover mine has been in production for 75 
years utilizing a system of potash brine collection ditches and solar 
evaporation ponds, with potash and salt being processed in a simple 
flotation mill. The Wendover mine has annual production of 100,000 tons 
of potash and 200,000 tons of magnesium chloride, grossing $60 million 
per year. 

The Bounty project consists of 90 square miles of potash prospecting 
permit applications from the Bureau of Land Management (BLM) and 14 
square miles of Potash Leases from the State of Utah. 

The Bounty project area is a remnant of a regional Pleistocene lake 
which deposited a salt flat underlain by a potash brine aquifer at 
depths of 2 to 6 feet. The aquifer is contained in a bed of sand, silt 
and clay. Several potash brine mines in the area are operating on 
similar lake remnants, producing muriate of potassium (MOP) and sulphate 
of potassium (SOP), at operating costs of $180 per ton. MOP sells for 
$500 per ton and SOP for $650 per ton. 

Historic exploration work was conducted in 1966 at the project and 
adjacent areas by Quintana Petroleum. Quintana drilled 35 auger holes 
terminating at depths of 16 feet, resulting in the definition of 5.1 
million tons of potash (MOP) grading 6.8 grams/liter. Quintana limited 
the estimation of the resource to the top 10 feet of the brine aquifer, 
the depth limits of the auger drilling equipment. Mesa controls 80% of 
the resource, including sites for a mill and evaporation ponds. The 
Quintana resource is historical in nature and was calculated using a 
polygonal contour estimation method, the industry standard prior to NI 
43-101 standards, thus it is not NI 43-101 compliant and should not be 
considered as a current resource. 

Mesa is designing an exploration program of forty auger holes to be 
drilled to the base of the shallow aquifer. Drilling will infill and 
verify the historic sampling and map brine aquifer depth, thickness, 
lithology and potash content. Additionally a minimum of six reverse 
circulation drill holes will be drilled to 500 feet to test for deeper 
brine aquifers typically found in the region. Historic assay, specific 
gravity and lithology data have been acquired and are being digitized. 
An evaluation of the assay data is being made to determine if the 
deposit is MOP or if there is sufficient sulphate for SOP production. 

"The Bounty project is a very attractive asset. With confirmation and 
infill drilling success, the existing resource has good potential to be 
confirmed, upgraded and enlarged. Shallow brine mines have historically 
demonstrated multiple benefits over conventional underground and open 
pit mines. Benefits include easier access for development, enhanced 
operator safety, lower capital investment and operating costs and 
significantly lower exploration costs. Bounty is located in a 
mine-friendly area, close to an interstate highway, a railroad and the 
town of Wendover." stated Foster Wilson, President and CEO. 

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, 50% of the shares are controlled by insiders and 
institutions. 

For further information please visit our website at 
www.MesaExploration.com 

http://www.MesaExploration.com 

. 

Qualified Person 

This Press Release has been prepared and revised under the supervision 
of Dana Durgin, AIPG Certified Professional Geologist, a Qualified 
Person as defined by National Instrument 43-101 guidelines. 

ON BEHALF OF THE BOARD 

MESA EXPLORATION 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 

http://www.sedar.com 

For further information call: 

Corporate Communications, 775-379-3993 

The TSX Venture Exchange has neither approved nor disapproved of the 
contents of this news release. 

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