VANCOUVER, BRITISH COLUMBIA, Nov 13, 2012 (MARKETWIRE via COMTEX) -- Mesa Exploration Corp. (pinksheets:MSAJF) announces that it has acquired a 100% interest in the Oatman gold and Belmont silver projects. The projects were purchased from American Bonanza Gold Corp. for $75,000. Bonanza retains a 3% NSR royalty, half of which can be purchased by Mesa for $2,000.000. Foster Wilson, president and CEO of Mesa Exploration, commented, "We are very pleased with this acquisition, both projects are highly prospective and are adjacent to historic productive mines. The Bounty potash project continues to remain the principal development project for the company where we are currently working towards securing drilling permits."
Oatman Gold Project
The Oatman Mining District lies in western Arizona and had continuous mining from 1864 through the 1930s. Mines in the district produced over 2 million ounces of gold with an average grade of 0.67 ounces of gold per ton, making it one of the highest grade gold mining districts in western North America. The property is located at the intersection of the two main productive veins in the Oatman Mining District. The project has 68 unpatented mining claims totaling 1,360 acres.
Belmont Silver Project
The Belmont Mining District is in central Nevada within the Walker Lane, a world class gold and silver province. Silver was discovered at Belmont in 1865 and produced approximately 15 million ounces of silver at bonanza grades, averaging 60 ounces of silver per ton, with some stopes grading over 250 ounces of silver per ton. The historically mined veins trend beneath alluvial cover, where exploration potential exists for the discovery of a high grade silver deposit. The project has 24 unpatented mining claims totaling 480 acres.
About Mesa Exploration
Mesa is developing and exploring a portfolio of mineral properties in the United States where it controls significant land holdings in proven mining districts with excellent access and infrastructure. Mesa currently has 14.7 million shares issued and outstanding, 50% of the shares are controlled by insiders and institutions. For further information please visit our website at www.MesaExploration.com .
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
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 www.sedar.com .
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
Mesa Exploration Corp.