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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2007 News Releases

Mega Uranium Announces Closing of Nu Energy Acquisition


August 14, 2007

Toronto, Canada, August 14, 2007 – Mega Uranium Ltd. (MGA-TSX) (“Mega”) is pleased to announce that its previously announced acquisition of Nu Energy Uranium Corporation (“Nu”) closed today. Nu is now a wholly-owned subsidiary of Mega.

Under the terms of the acquisition, former shareholders of Nu will receive two common shares of Mega in exchange for every three common shares of Nu held. Based upon the number of Nu common shares outstanding as at August 10, 2007 (and subject to rounding), an aggregate of approximately 19,848,542 common shares of Mega will be issued to former shareholders in exchange for their Nu common shares. Certificates evidencing the common shares of Mega to which the former registered shareholders of Nu are entitled will be mailed by Equity Transfer & Trust Company commencing on or about June 17, 2007.

ABOUT MEGA URANIUM

Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia, Columbia, Bolivia and Canada. 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 the Ben Lomond, Lake Maitland and Maureen properties are subject to state policies which presently prohibit the mining of uranium in Australia.

For further information, please contact:

Mega Uranium Ltd.
Richard Patricio, VP Corporate and Legal Affairs
T: (416) 643-7630
info@megauranium.com
www.megauranium.com