VANCOUVER -- Mesa Uranium Corp. (TSX: MSA) is pleased to announce that it has acquired, by staking, the Green Energy lithium project in Utah. The project consists of mining claims covering an area of approximately 10 square miles (6,000 acres) and is 100% wholly-owned. High demand and low supply has pushed lithium carbonate (Li2CO3) prices to US$6,600.00 per ton, lithium-ion battery demand for hybrid-electric and electric cars is expected to increase fivefold by 2012. Lithium occurs at the project over an extensive area with values as high as 1,700 ppm lithium (0.9% Li2CO3) in saturated brine. The brine was discovered in the 1960s when oil exploration wells encountered blow-outs drilling into Bed #31 of the Paradox Formation. The pressurized free-flowing brine interrupted drilling operations and was considered a nuisance, rarely chemically analyzed or flow-rate tested. Over twenty oil exploration wells have been drilled on the Green Energy project; five of these wells have analytical data for lithium.
Lithium brine mines are more economic to mine and process than conventional open-pit or underground mines. Given the favorable climate of the area solar evaporation can be used to concentrate the brine to enhance project economics. World-class lithium brine mines range in grade from 150 ppm to 1,200 ppm lithium and employ proven solar evaporation concentration techniques. Mesa is currently evaluating all available recent and historic exploration drilling logs. A professional engineering firm will be engaged to evaluate drilling data, reservoir potential and extraction methods at the Green Energy project.
While the Company has no reason to doubt the accuracy of the historical results, the data should not be relied upon until confirmed by the Company's own exploration. Historical results and the work that generated them pre-date the enactment of National Instrument 43-101 and accordingly may not meet the requirements of that policy. There are no 43-101 mineral reserves or mineral resources on the Green Energy lithium project. The potential quantity and grade indicated above is conceptual in nature and has been provided only for illustration purposes.
About Lithium
Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars. Demand for lithium-powered vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over $4 billion per year.
About Mesa Uranium
Mesa explores and develops mineral properties focused in the western United States. For further information please visit our website at www.mesauranium.com.
