You can also download the free LAME encoder software from third parties or purchase/find free external software to import your final mixes to for MP3 encoding.
I bought Cakewalk Pyro for this but there are many other programs.
From what I understand not all mp3 encoders are created equal though. So do your research.
Don't quote me on this (because I am far from an expert and mp3 stuff is a surprisingly complex topic) but I THINK that a high end mastering program like Wavelab has more and better options for encoding to mp3 than freeware or less expensive programs.
This is more the realm of the bitflippers of the world. Try searching the Techniques forum of this site for more detailed discussions on this type of thing.