Mesa Uranium Corp.

Mesa Uranium Corp.

October 25, 2006 11:00 ET

Mesa Uranium Drill Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 25, 2006) - Mesa Uranium Corp. ("Mesa") (TSX VENTURE:MZU) reports results for the final two drill holes from the Phase I drilling at the Lisbon Mine target at the 100%-owned Lisbon Valley uranium project in Utah. The Lisbon Mine target is the first high priority exploration target in Mesa's campaign to drill 10 prioritized targets throughout the project area. The project encompasses 7,000 hectares (27 square miles) within the prolific Lisbon Valley Mining District with historic production of 85 million pounds of U3O8.

Mesa's mission is to re-activate the world class Lisbon Valley Uranium Mining District by discovering new 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. Targets where favorable results are received during Phase I drilling will be followed up with Phase II drilling. Phase I drilling at the Lisbon Mine target is complete and several other targets will receive their Phase I drilling soon. Phase II drilling at the Lisbon Mine target is being planned, and land acquisition in the District continues.

The Phase I drill program at the Lisbon Mine target consists of 10 drill holes with a combined length of 8,132 meters. Drill holes are spaced 200 to 500 meters apart and the drilling covers approximately 200 hectares. The drill pattern is wide-spaced, to gather initial reconnaissance-level geologic information that will aid follow-up drilling during Phase II.

The objective of the Phase I drilling at the Lisbon Mine target is to identify uranium mineralization, and to determine if favorable host rock is present in a large area adjacent to the Lisbon Mine. Mesa's drilling has successfully identified significant uranium mineralization within the favorable Moss Back sandstone, the primary host of the District. The Lisbon Mine target is adjacent to the largest mine in the District, the Lisbon Mine, with past production of 22 million pounds of U3O8.

Mesa is encouraged that most holes drilled during Phase I drilling at the Lisbon Mine target intercepted significant uranium values over a wide area (1,800 meters by 1,100 meters) and indicate the presence of a mineralized uranium system. The drilling has confirmed the existence of a thick, favorable, Moss Back Formation channel. The strongest mineralization was found in drill hole L-4 which returned 0.092% (1.8 pounds per ton) U3O8 over 1.5 feet, and in drill hole L-7 which had 0.047% (0.9 pounds per ton) U3O8 over 2.0 feet within 6.5 feet grading 0.025% U3O8, as previously reported. Geologic information and significant uranium mineralization encountered in holes L-4 and L-7 indicate a mineralized trend projecting southeast from the Lisbon Mine. Mesa geologists are currently planning a Phase II drill program at the Lisbon Mine target to explore this exciting new mineralized trend.

Drill results for the final two holes of the phase I drilling program at the Lisbon Mine target are as follows: L-9 intersected 12 feet of anomalous uranium and 1.6 feet of 0.017% U3O8 and hole L-10 was not mineralized. Mesa's geologists believe this uranium mineralization may represent another mineralized trend associated with the Lisbon Mine uranium deposits. A map illustrating the location of the current drilling is available on Mesa's website on the Lisbon Valley Project maps page at, wherein red represents a strongly anomalous uranium drill hole result, and orange represents anomalous uranium in the hole, and green represents weakly anomalous uranium in the drill hole and black indicates no uranium encountered.

Exploration Concept

Of the 85 million pounds of U3O8 produced in the Lisbon Valley Mining District, 63 million pounds were produced from 15 mines that occur along a mineralized trend that is 1/2 mile wide and 16 miles long. This mineralized trend is 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, predicting that more mines should occur on the northeastern side of the faulted anticline in a pattern similar to the southwestern flank.

Using this exploration concept, drilling efforts during the mid 1960s focused on the northeastern side of the anticline in the hope of discovering what could be the other half of the District. The exploration concept was validated in 1968 with the discovery of the 22 million pound Lisbon Mine on the northeast side of the anticline. Mesa is currently conducting exploration adjacent to the Lisbon Mine. The Company controls a large land position (27 square miles) in the District.

The Lisbon Valley Mining District accounted for over 80% of the uranium mined in the state of Utah and produced some of the highest uranium grades in the United States, averaging 0.4 percent uranium. 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

Qualified Person

The Lisbon Valley Uranium Project is managed by Gregory French, P. Geo., a Qualified Person as defined by National Instrument 43-101 guidelines. This Press Release has been prepared and revised under the supervision of Gregory French, VP Exploration for Mesa responsible for its projects.

Bob Beeman Drilling of Moab, Utah is the drilling contractor. Sample recovery for lithologic and trace element analysis is excellent.

Gamma, Spontaneous Potential (SP), and Resistivity values were logged by Jet West Geophysical Services of Farmington, New Mexico. The Gamma portion of the downhole logging tool was calibrated by uranium-industry standard values located in mines at Grants, New Mexico. In situ uranium grades, expressed as equivalent U3O8 (eU3O8) are calculated using the digital gamma ray values acquired by the downhole logging tool and uranium industry standard techniques for gamma log interpretation. Downhole gamma log interpretation has historically been found to be an accurate representation of in situ grades for uranium mineralization in the Lisbon Valley District. Chemical assays of samples were completed that will be used to determine relative trace element concentrations as a guide to future drilling.



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.

Contact Information