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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2008 News Releases

Additional Assay Results from Igor Uranium Property, Yukon Territory Extended Mineralized Zone to The North


April 21, 2008

Toronto, Canada, April 21, 2008 – Mega Uranium Ltd. (TSX:MGA) (“Mega”) is pleased to announce the remaining assay results from the 2007 drill program at the Igor iron-oxide copper-gold-uranium property, located in the Wernecke Uranium District, Yukon. Work on the Igor property is performed under the terms of a joint venture with Cash Minerals Ltd. (TSX-V: CHX) where Cash Minerals is the operator. Cash Minerals can maintain a 75% working interest in the Igor property provided it completes a bankable feasibility study on the Igor property by December 31, 2012. As advised by Cash Minerals, significant intersections from this last batch of analyses from Igor include:

  • Hole IG07-26 4.40 metres of 0.132% U3O8, 7.24% Cu, 0.21 g/t Au, and 6.79 g/t Ag and 4.00 metres of 0.045% U3O8, 2.53% Cu, 0.14 g/t Au, and 2.17 g/t Ag

Hole 26 was drilled on an azimuth of 050° and a dip of -60° and was drilled from the same collar location as Hole 22 (details in January 23, 2008 press release). The intercept extends the known mineralized zone to the north of the intercept in Hole 22 by approximately 100 metres. Gravity and magnetic data suggests that the mineralized body extends further to the north and a ground EM survey is planned for early summer to aid in tracing the high grade copper core of the zone. Drill testing this extension of the 600-metre mineralized zone to the north as well as the southwest will be the focus for drilling in 2008.

Highlights from results released earlier this year included 140 metres of 0.042% U3O8 and 0.76% Cu from surface, including 7 metres of 0.417% U3O8 and 7.37% Cu. A total of 9,042 metres in 31 holes was completed at Igor in 2007. Mineralization at Igor is similar in style to the iron-oxide copper-gold-uranium mineralization at the Olympic Dam (Gawler Craton) and Ernest Henry (Mt Isa Inlier) deposits in Australia.

Selected drill hole assays are as follows:

Hole ID
From (m)
To (m)
Metres
U3O8 (%)
Cu (%)
Ag (g/t)
Au (g/t)
IG-2007-26
17.00
21.40
4.40
0.132
7.24
6.79
0.21
 
56.00
68.00
12.001
-
0.38
-
0.05
including
57.00
60.00
3.002
-
0.95
1.16
0.10
 
81.50
83.50
2.00
-
0.77
-
0.06
 
107.00
132.50
25.50
-
0.37
1.15
0.05
including
116.50
121.50
5.003
-
0.98
2.01
0.09
 
153.00
159.00
6.00
-
0.33
1.01
0.06
 
193.00
194.50
1.50
0.030
-
-
-
 
199.00
213.50
14.50
0.013
0.79
-
0.05
including
205.50
209.50
4.00
0.045
2.53
2.17
0.14
 
289.00
299.00
10.00
-
0.45
-
-
 
358.00
380.00
22.00
-
0.41
-
0.05
including
374.00
379.50
5.504
-
1.08
1.08
0.13
IG-2007-24
145.00
151.00
6.005
0.047
-
2.05
0.05
IG-2007-27
70.00
76.50
6.50
-
0.33
-
-
IG-2007-28
89.50
93.00
3.50
-
0.44
-
-
 
186.50
211.00
24.50
-
0.23
-
-
 
252.00
255.00
3.00
-
0.42
-
-
IG-2007-29
204.50
216.00
11.50
0.007
0.20
-
-

1. Includes 0.034% cobalt
2. Includes 0.047% cobalt
3. Includes 0.040% cobalt
4. Includes 0.038% cobalt
5. Includes 0.078% cobalt
Minimum values shown are: Cu 0.20%; U3O8 0.006%; Ag 1 g/t; Au 0.05 g/t; Co 0.030%
Note that true width intervals are as yet unconstrained

Drill core samples were prepared and analyzed by ALS Chemex, Vancouver. Samples were crushed, pulverized and digested in a four-acid solution and all elements except gold were analyzed by ICP. Gold was analyzed by Fire Assay and ICP-AES. Exploration in the Wernecke Uranium District, including the sampling was conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person for Cash Minerals, as specified in NI 43-101.

Michael Downes, Ph.D., P.Geo., Vice President North America and Qualified Person (as specified in NI 43-101) for Mega Uranium Ltd. has reviewed the technical content of this news release as provided by Cash Minerals.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Mega Uranium are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Mega Uranium‘s expectations are exploration risks detailed herein and from time to time in the filings made by Mega Uranium with securities regulators.