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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2006 News Releases

Mega Uranium Ltd. Announces Stock Split

Toronto, Ontario, August 17, 2006 – Mega Uranium Ltd. (“Mega”) (MGA:TSX-V) announces today that it has received all the necessary shareholder and regulatory approvals to complete its previously announced stock split pursuant to which each issued common share of Mega will be subdivided into two common shares.

It is expected that the increased number of outstanding new common shares resulting from the stock split (the “New Shares”) will provide a greater opportunity for investors to become shareholders of Mega and increase liquidity in Mega’s listed securities. Mega currently has 53,311,604 common shares issued and outstanding and will have 106,623,208 common shares issued and outstanding upon completion of the stock split.

Mega shareholders of record on August 24, 2006 will receive one (1) additional New Share for every common share held. The stock split will take effect on August 24, 2006 and it is expected that certificates evidencing the New Shares issued pursuant to the stock split will be mailed to shareholders shortly thereafter. No action is required to be taken by the shareholders.

Mega’s name and trading symbol will not change as a result of the stock split. The common shares will commence trading on the TSX Venture Exchange on a post-stock split basis on August 22, 2006.

In addition, at a meeting held earlier today, shareholders approved the previously announced shareholder rights plan (see press release dated April 25, 2006), a copy of which has been filed on www.sedar.com on July 10, 2006.

Mega Uranium Ltd. is a Toronto–based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia, Bolivia and Canada. Further information on Mega can be found on the company’s website at www.megauranium.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information, please contact:

Mega Uranium Ltd.
Sheldon Inwentash, CEO
Telephone: (416) 643-7630
info@megauranium.com
www.megauranium.com