Mesa Uranium announces private placement

Mesa Uranium Corp. announces a non brokered private placement (the “Offering”) with Foster Wilson, the President, Chief Executive Officer and a director of Mesa, of up to 2,000,000 units (the “Units”) at a price of $0.11 per Unit to raise aggregate gross proceeds to Mesa of up to $200,000.

Each Unit will consist of one common share (a “Share”) in the capital of Mesa and one-half of one non-transferable common share purchase warrant (a “Warrant”).

Each whole Warrant will entitle the holder thereof to purchase one additional common share (a “Warrant Share”) in the capital of Mesa for a period of 18 months following the closing of the Offering at a price of $0.15 per Warrant Share.

The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. The Offering is subject to TSX Venture Exchange and shareholder approval.

Mr. Wilson will become a “control person” (as defined in the Securities Act (British Columbia) of Mesa by virtue of purchasing the Units as he will hold an aggregate of approximately 22.2% of the issued and outstanding common shares of Mesa.

The transaction is considered a “related party transaction” under securities legislation as Mr. Wilson is a director, officer and holds over 10% of Mesa’s issued and outstanding common shares.

Mesa will be relying on the exemptions from the formal valuation and minority shareholder approval requirements under securities legislation, as the fair market value of the Units or the consideration for the Units does not exceed 25% of the market capitalization of Mesa at the time the transaction was agreed to.

Proceeds from the Offerings will be used to fund continuing exploration and for general working capital.