2007 News Releases
Mega Uranium And Cash Minerals Intersect Visible Native Copper At Odie, Wernecke Uranium District, Yukon
May 15, 2007
Toronto, Canada, May 15, 2007 – Mega Uranium Ltd. (MGA-TSX) (“Mega”) is pleased to provide an update on its Yukon Uranium Project. Mega has been advised by Cash Minerals Ltd. (“Cash”), that Cash’s drilling programme has intersected visible copper on the Odie property, as native copper, in two intersections. Copper mineralization occurs within two intervals that are approximately 11.0 and 5.7 m thick. These intervals of native copper appear to occur in association with significant veining and chlorite alteration of the metasedimentary basement rocks of the Wernecke Supergroup. Drill hole assays from the first set of holes at Odie are expected to be released in June.
Native copper, which represents the natural metal form of copper, is soft, malleable and dense. In drill hole 2007-OD-01R (01R), native copper typically occurs as irregular masses and fillings of open spaces within veins in two intervals at 423.6-434.6 m (11.0 m), and 526.4-532.1 m (5.7 m). Native copper is commonly formed by the mobilization of copper in fluids, where in some cases the copper is often shown to be derived from proximal ‘copper’ sulphide (e.g., chalcopyrite and bornite) deposits. Cash advises that these intersections of native copper provide some exciting results for the stage one drilling program on the Odie property. Cash expects to follow up on this hole later this season.
Vein-controlled and disseminated pyrite mineralization also occurs sporadically in drill hole 01R between 495.1 and 563.9 m (To view an image of this core, please visit the Cash Minerals Ltd. website at http://www.cashminerals.com/s/photos.asp?reportid=181294).
Exploration and camp planning for the 2007 season is currently underway, with stage one drill plans near completion for the Igor and Lumina properties. Other properties within the Wernecke Uranium District to be explored later this season include the Vic, Bond, Angel and Bonnie properties. Exploration in the Wernecke Uranium district will be conducted under the supervision of Mr. Christopher K. Hutchings, P.Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings is President of Kiex Consulting Limited, a professional geoscience consulting company.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada, Argentina, Bolivia, Colombia and Mongolia. Further information on Mega can be found on the company’s website at www.megauranium.com. Mega Uranium’s Australian uranium properties, including without limitation Ben Lomond, Maureen and Lake Maitland, are subject to State policies which presently prohibit the mining of uranium.
For further information, please contact:
Richard Patricio, VP Corporate and Legal Affairs
Telephone: (416) 643-7630
Director of Corporate Communications
T: (416) 860-1717