Mesa Uranium Corp.
TSX VENTURE : MZU

Mesa Uranium Corp.

May 31, 2006 12:28 ET

Mesa Uranium Commences Drilling at the Lisbon Valley Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2006) - Mesa Uranium Corp. (the "Company") (TSX VENTURE:MZU) is very pleased to report that drilling has commenced at its wholly owned Lisbon Valley uranium property located in Utah, USA. The drilling contractor is Bob Beeman Drilling whose personnel have years of experience drilling in the Lisbon Valley which dates back to the 1950's.

This initial phase of drilling comprises 10 holes which will concentrate on targets on the northern perimeter of the Company's claims adjacent to the largest mine in the Lisbon Valley Mining District, the Lisbon Mine, with past production of over 22 million pounds of uranium. Initial drilling results from this first phase of drilling are expected to be reported in the coming weeks. The south shaft of the Lisbon Mine is within 800 feet of the Company's property. The 2006 drilling plan consists of 35 holes for 25,000 meters of drilling.

Exploration Targets

The Lisbon Valley Mining District produced over 85 million pounds of uranium, 63 million pounds of which were produced from 15 mines that occur along a mineralized trend that is 1/2 mile wide and 16 miles long on the southwestern flank of a faulted anticline and is primarily hosted by the Moss Back member of the Triassic Chinle sandstone. During the 1960's, miners and geologists working in the District observed this trend and postulated a genetic relationship between the uranium deposits and the anticline and determined that more mines might occur on the northeastern side of the faulted anticline in a similar trend as the southwestern flank.

Using this geologic concept, exploration efforts focused on the northeastern side of the anticline in the hopes of discovering what could be the other half of the District. The exploration concept was validated in 1968 when a series of wildcat drill holes intercepted uranium ore on the northeast side of the anticline. Surface drilling delineated a massive tabular ore body roughly 1/2 mile wide by 1 mile long containing 3 million tons at a grade of 0.4% for a total of 22 million pounds of U3O8 produced. The size and high grade of the deposit justified the sinking of two 2,300 foot shafts and the construction of a 700 ton per day mill which produced yellowcake (uranium oxide) in a period when U3O8 prices averaged $21.00 per pound; the current price is $43.00 per pound. Rio Algom operated the mine between 1972 and 1988. The decline of uranium mining in the late 20th century brought a halt to further exploration.

The Lisbon Valley District accounted for over 80% of the uranium mined in the state of Utah and had some of the highest uranium grades in the United States averaging 0.4 percent uranium. The Company controls a large land position (27 square miles) in the District. The Lisbon Valley Mining District is located in the Colorado Plateau region, 30 miles south of Moab in San Juan County, Utah.

The project area is fully described in a current National Instrument 43-101 compliant report available for examination on www.mesauranium.com and on www.sedar.com.

ON BEHALF OF THE BOARD

MESA URANIUM CORP.

Greg French, Vice President, Exploration


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