Mount Kellett Requests Independent Chairperson for Upcoming Baja Shareholder Meeting

Mount Kellett Capital Management LP (“Mount Kellett”), today announced that it has sent a letter to the Board of Directors of Baja Mining Corp. (TSX: BAJ) (OTCQX: BAJFF) (“Baja”) formally requesting the appointment of a chairperson independent of Baja and its management and directors for the Special Meeting of Shareholders to be held on April 3, 2012.

“As is customary in a requisitioned meeting in Canada, Mount Kellett has requested the appointment of a mutually agreeable independent chairperson to ensure a fair and transparent process for the upcoming Special Meeting of Shareholders,” said Jonathan Fiorello, Chief Operating Officer of Mount Kellett. “In light of the history of self-interested maneuverings by Baja’s current Board and the events leading up to the special meeting, we have serious concerns about the current chairman’s ability to conduct this important meeting independently and impartially. We urge the Baja Board to do the right thing by working with us to find a mutually agreeable independent chairperson and we look forward to their prompt response to our request.”

For more information on how to vote your BLUE proxy, as well as access to other important materials, please visit www.ShareholdersForBaja.com. If you have any questions and/or need assistance in voting your shares, please call Kingsdale Shareholder Services at 1-888-518-1562 or 1-416-867-2272 (collect calls accepted).

About Mount Kellett Capital Management LP

Mount Kellett is a multi-strategy private investment firm focused on global value, special situations and opportunistic investing. The firm has approximately 100 employees with offices in New York, Hong Kong, London, and Mumbai. The firm currently has in excess of $6 billion in assets under management.

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