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

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Mega Uranium Ltd.
217 Queen Street West, Suite 401
Toronto, Ontario, Canada
M5V 0R2

Phone 416.643.7630
Fax 416.941.1090

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2007 News Releases

Mega Uranium and Nu Energy Announce Update to Acquisition

August 10, 2007

Toronto, Ontario, Canada, August 10, 2007 – Mega Uranium Ltd. (“Mega”) (MGA-TSX) and Nu Energy Uranium Corporation (“Nu”) (NU-TSXV) are pleased to announce that Mega's proposed acquisition of Nu, by way of a three-cornered amalgamation, was approved by the shareholders of Nu at Nu's annual and special meeting held today.

Under the terms of the acquisition, shareholders of Nu will be entitled to receive two common shares of Mega in exchange for every three common shares of Nu held prior to the effective date of the amalgamation. It is expected that the amalgamation will become effective on August 14, 2007. Trading in common shares of Nu on the TSX Venture Exchange will cease at the close of business on August 13, 2007 and the shares will be de-listed from the Exchange.

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 August 16, 2007.


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 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