Mesa Uranium Corp.

Mesa Uranium Corp.

November 14, 2006 12:14 ET

Mesa Uranium Corp.: Acquisition of State Lease in Lisbon Valley Utah

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 14, 2006) - Mesa Uranium Corp. (the "Company") (TSX VENTURE:MZU) is pleased to report that it has acquired, from the State of Utah, a mineral lease comprising 195 hectares at the wholly-owned Lisbon Valley uranium project in the Lisbon Valley Mining District in Utah, USA. The company now controls approximately 7,300 hectares (28 square miles) of mining claims and state mineral leases in the Lisbon Valley Mining District.

Two formerly-producing mines, the School Section 2 Mine and the northern extension of the Texwood Mine, are located on the lease. The School Section 2 Mine produced U3O8 from the Cutler Formation and the Texwood Mine produced U3O8 from the Moss Back sandstone of the Chinle Formation. The Texwood Mine is located 600 meters north-northwest of the historic Mi Vida Mine. Historic production figures are not available for the School Section 2 Mine or the Texwood Mine.

The initial drill program is designed to test for ore deposits along trend with the School Section 2 Mine and the Texwood Mine extension. Permitting is in progress and drilling should commence shortly after approval.

Mesa is working toward reactivating the world-class Lisbon Valley Uranium Mining District by exploring for economic deposits and moving them to production. Mesa is following a strategy of acquiring a dominant land position in the Lisbon Valley Mining District and systematically drilling high-priority targets. Most of the targets are located on mineralized trends adjacent to or between historic uranium mines. Follow-up drilling at the Lisbon Mine target is being planned, and land acquisition in the district continues.

The Lisbon Valley District produced over 85 million pounds of U3O8, generating over 80% of the uranium mined in the State of Utah, providing some of the highest uranium grades in the United States, averaging 0.4 percent U3O8. 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 and on



Foster Wilson, President and CEO

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

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