(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/08/12 -- Mesa Exploration Corp. (TSX VENTURE: MSA)(PINKSHEETS: MSAJF) ("Mesa" or the "Company") is pleased to announce that Passport Potash has exercised its right to purchase Mesa's 2% NSR royalty on the Holbrook Basin project. The $300,000 in proceeds will be used to advance Mesa's Bounty project and for general working capital.
The Bounty project is surface potash brine deposit located 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 annual production of 100,000 tons of potash and 200,000 tons of magnesium chloride.
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, and no debt. For further information please visit our website at .
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 .
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.