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

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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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2005 News Releases

Maple Minerals Corp.'s Results for the Three and Six Months ended March 31, 2005


May 17, 2005

For the three months ended March 31, 2005 (compared with the three months ended March 31, 2004):

  • Revenue (primarily comprised of interest income) increased to $30,599 as compared to $4,473 for the three months ended March 31, 2004;
     
  • Operating, general, and administrative expenses increased to $319,044 as compared to $60,998 for the three months ended March 31, 2004;
     
  • Stock-based compensation increased to $471,147 as compared to $31,373 for the three months ended March 31, 2004
     
  • Net loss was $759,592 ($0.046 per share) for the three months ended March 31, 2005 as compared to $87,898 ($0.009 per share) for the three months ended March 31, 2005;
     
  • Exploration expenditures primarily on the Mt. Kakoulima Property in West Africa totaled $1,392,991 as compared to $241,602 for the three months ended March 31, 2004.

For the six months ended March 31, 2005 (compared with the six months ended March 31, 2004):

  • Revenue (primarily comprised of interest income) increased to $40,982 as compared to $6,023 for the six months ended March 31, 2004;
     
  • Operating, general, and administrative expenses increased to $390,607 as compared to $99,600 for the six months ended March 31, 2004;
     
  • Stock-based compensation increased to $510,519 as compared to $40,226 for the six months ended March 31, 2004;
     
  • Write-off of mineral properties and related expenditures was $42,827 as compared to nil for the six months ended March 31, 2004;
     
  • Net loss was $902,971 ($0.060 per share) for the six months ended March 31, 2005 as compared to $133,803 ($0.015 per share) for the six months ended March 31, 2004;
     
  • Total mineral properties and related expenditures increased to $2,509,102 as at March 31, 2005 as compared to $1,052,564 as at September 30, 2004;
     
  • Working capital increased to $8,698,911 as at March 31, 2005 as compared to $2,234,990 as at September 30, 2004.

Maple Minerals Corp. (TSXV: MPM) is a Toronto based resource company with properties in Africa, Canada and the Dominican Republic. For more information about Maple, please visit the company’s website at www.mapleminerals.com.

This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available .

The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.

Contact:

L.M. (Gino) Falzone
President
(416) 643-7630