Mount Kellett Responds to Baseless Complaint Filed by Baja Mining Corp.

Mount Kellett Capital Management LP ('Mount Kellett?) today issued the
following statement in response to the tactically motivated and
unfounded complaint filed by Baja Mining Corp. (TSX:BAJ) (OTCQX: BAJFF)
('Baja?) with the British Columbia Securities Commission on February 23^rd,
2012, regarding Mount Kellett:

'This filing is entirely without merit and is nothing more than a
transparent attempt by Baja to use frivolous legal proceedings to
distract Baja shareholders from the real issue at hand: the self-dealing
and web of conflicts of the management and board of Baja. Mount Kellett
has complied fully with all Canadian securities laws.

'Mount Kellett remains resolved in our efforts to nominate two highly
qualified shareholder nominees to the Baja board. We look forward to the
support of Baja shareholders at the special shareholders′ meeting on
April 3, 2012.?

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.

Kingsdale Communications Inc.

Karen Chodzicki, 416-867-2335

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Sard
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Dan Gagnier / Sarah Brown, 212-687-8080