Mega Uranium Mining & Exploration in  Canada, Cameroon, Australia, Argentina, Bolivia, Columbia and Mongolia.

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TSX: MGA
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Mega Uranium Ltd.
211 Yonge Street, Suite 502
Toronto, Ontario, Canada
M5B 1M4

Phone 416.643.7630
Fax 416.941.1090
 

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Dividend Information

Dividend-In-Kind

On April 26, 2010, Mega paid a dividend-in-kind on its common shares (the “Dividend-In-Kind”) in the form of a pro rata distribution of 30,564,858 common shares of U3O8 Corp. (the “U3O8 Shares”), to shareholders of record at the close of business on April 16, 2010 (the “Record Date”). Based upon the number of common shares of Mega outstanding on the Record Date, and ignoring the effect of rounding for fractional interests (in respect of which no payments were made), approximately 1 U3O8 Share was paid under the Dividend-In-Kind for every 8 common shares of Mega held on the Record Date. The fair value of the Dividend-In-Kind was calculated by Mega to be $13,876,446 or $0.454 per U3O8 Share paid under the Dividend-In-Kind.

Eligible Dividend Information

For the purposes of the enhanced dividend tax credit rules contained in theIncome Tax Act (Canada) and any corresponding provincial tax legislation, the Dividend-In-Kind paid by Mega to Canadian residents is designated as an "eligible dividend”. Shareholders with questions regarding the tax treatment of the Dividend-In-Kind should consult with their own tax advisors or contact their local office of the Canada Revenue Agency and, where applicable, the provincial taxation authorities.