Mount Kellett Updates Call for Reconstitution of Baja Mining Board of Directors

Mount Kellett Capital Management LP ('Mount Kellett?) today announced
another step in its effort to reconstitute the Board of Directors of
Baja Mining Corp. (TSX: BAJ) (OTCQX: BAJFF) ('Baja?) and to obtain the
resignation of John Greenslade.

• 
  Tom Ogryzlo and Wolf Seidler, former directors of Baja who recently
  resigned over governance concerns impacting the company, have agreed
  with Mount Kellett to join a reconstituted board of Baja that would
  also include Lorie Waisberg and Stephen Lehner.
  
• 
  Mr. Ogryzlo has indicated to Mount Kellett that, following the
  resignation of John Greenslade, he would be willing, as needed and as
  may be appropriate, to serve as interim chief executive officer of
  Baja while a search is carried out for a permanent replacement.
  
• 
  Mount Kellett recognizes the right of Louis Dreyfus Commodities Metals
  Suisse SA to representation on the Baja board and is prepared to
  support its director nominee.
  

Jonathan Fiorello, Chief Operating Officer of Mount Kellett, said, 'We
are extremely pleased that two long serving former directors of Baja
have agreed to resume service to Baja′s shareholders on a reconstituted
Board. We are also thankful that Tom Ogryzlo is prepared and willing to
serve as interim chief executive officer when this needed transition
comes about. Messrs. Ogryzlo and Seidler bring not only their
demonstrated commitment to superior corporate governance, but a wealth
of knowledge about Baja and the Boleo project which will be important
assets to the Company at this critical juncture.'

Mr. Ogryzlo said, 'I am honored to have the opportunity to work with a
reconstituted Board to solve Baja′s significant financial and governance
problems. While there are challenges ahead, challenges that were
compounded by recent events, I am a firm believer in the world-class
Boleo project and its potential to deliver significant value to Baja′s
shareholders.?

Mr Seidler stated, 'I resigned from the Baja Board with great reluctance
but I felt that under the circumstances I could not provide the level of
corporate governance that Baja shareholders deserve. I am pleased to
have the opportunity to return to service on a reconstituted Board to
help Baja at this critical time.?

Added Mr. Fiorello, 'Time is of the essence. The current board must take
immediate action by demanding the resignation of John Greenslade and
take steps to appoint these new director nominees so that shareholder
interests, and indeed their investments, can be protected.?

Mount Kellett is prepared to take legal action to protect shareholder
interests, including contesting any agreement the company may enter into
that adversely affects the investment of all Baja shareholders. Mount
Kellett has already requested that the Toronto Stock Exchange and the
British Columbia Securities Commission urgently conduct disclosure
reviews of the Company, focusing particularly on when the Company′s
senior management knew of the material cost overruns at the Boleo
project and the timing of the disclosure of the resulting material
adverse change.

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 $7 billion in
assets under management.

Sard Verbinnen & Co

Dan Gagnier/Sarah Brown, 212-687-8080