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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2009 News Releases

Wide Drill Intersections in the Salaki Uranium Prospect in Cameroon


September 24, 2009
  • In the initial drilling of the Salaki prospect, intersections include 54.1 meters @ 206ppm eU3O8, 14.7 meters @ 258ppm eU3O8 and 12.6 meters @ 461ppm eU3O8.
  • A follow-up 2000 meter drill program will begin in October.

Toronto, Canada, September 24, 2009 - Mega Uranium Ltd. (MGA-TSX) ("Mega") is pleased to announce that it has obtained encouraging downhole gamma probe eU3O8 results in its initial drilling of the Salaki prospect in the Kitongo Project in northern Cameroon. Intersections include 54.1 meters @ 206ppm eU3O8, 14.7 meters @ 258ppm eU3O8 and 12.6 meters @ 461ppm U3O8. Drilling to date indicates that the mineralisation occurs as steeply dipping to vertical zones extending from exposures in trenches to a depth of 110 meters.

Title to the property is held by Mega Uranium Cameroon plc (Mega 92%, local shareholders 8%). A map showing the locations of Mega’s three project areas in Cameroon, Kitongo, Lolodorf and Teubang (total area 3858 km2) can be found on Mega’s website www.megauranium.com.

The Salaki prospect is one of several prominent radiometric anomalies that were identified in an airborne magnetic-radiometric survey of the Kitongo Project area in mid 2007. The prospect is situated 22 kilometers WSW of the Kitongo prospect from which Mega reported significant drill intersections in its news release of March 3 2009. In the first half of 2009, Mega investigated the prospect by means of geological mapping, ground radiometrics, trenching and rock chip sampling. The work delineated a 1.2 kilometer long, NW-trending zone of elevated radiometric values within microdiorite, syenite and basic volcanics along a regional lineament.

The drilling program comprised seven diamond drill holes (total 796 meters) on a NE orientation on five lines along a 600 meter strike length of the NW-trending zone. The first two holes, SAL1 and SAL1B, were drilled from the same location at -45o and -60o, respectively. Holes SAL2 and SAL4 were drilled on lines respectively 75 meters and 200 meters SE of SAL1/SAL1B. Hole SAL5 was drilled on a line 200 meters NW of SAL1/SAL1B. Two other holes, SAL3 and SAL3B, were drilled on a line 375 meters SE of SAL1/SAL1B, but failed to intersect the main mineralised zone as they were drilled by error from an incorrect location.

The uranium mineralisation intersected to date occurs mainly as disseminations in the form of steeply-dipping to vertical zones hosted predominantly by albitised, locally brecciated microdiorite.

In October Mega will commence a 2000 meter drill program to investigate the mineralized zone along its entire 1.2 kilometer strike length.

TABLE 1: Salaki - Intersections of >1 meter at a 100ppm eU3O8 cut-off
 

Hole
Angle
E of H (m)
From (m)
To (m)
Width (m)
ppm eU3O8
SAL1
-45o
119
51.6
63.5
11.9
196
 
 
 
86.1
87.8
1.7
184
SAL1B
-60o
142
46.4
100.5
54.1
206
 
 
 
115.1
129.8
14.7
258
SAL2
-45o
80
40.6
53.2
12.6
461
 
 
 
72.8
74.0
1.2
217
SAL3
-45o
116
69.3
70.6
1.3
196
 
 
 
89.2
90.7
1.5
172
SAL3B
-60o
109
 
 
 
NSM
SAL4
-45o
129
43.1
67.5
24.4
163
 
 
 
92.9
93.9
1.0
362
SAL5
-45o
101
5.8
9.6
3.8
628

Notes
1. All holes were gamma logged with a Geotron T163 total count gamma probe supplied by Geotron Systems Pty Ltd of Potchefstroom, South Africa. The instrument was calibrated at the Pelindaba calibration facility in South Africa, which is approved by the IAEA. Data were converted from raw counts per second of natural gamma rays to equivalent U3O8 grades ("eU3O8") using the calibration factors derived from the Pelindaba facility. Daily checks were carried out to validate the accuracy of the gamma probe using a reference hole in the Kitongo prospect.
2. NVM indicates no intersections of >1 meter @ >100ppm eU3O8
3. True widths of the intersections in the -45o holes are estimated to be ~80% of the intersection width. The true width in the -60o hole is estimated to be ~ 60% of the intersection width.

Stewart Taylor, Mega’s President and Qualified Person under NI43-101, is responsible for this release and has verified the contents disclosed. 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 Ben Lomond and Maureen uranium resources are subject to a Queensland State Government policy that presently prohibits the mining of uranium.

For further information, please contact:
Investor Relations
Mega Uranium Ltd.
Richard Patricio
Executive Vice President Corporate and Legal Affairs
T: (416) 643-7630
info@megauranium.com
www.megauranium.com

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this press release constitutes "forward-looking information", which is information regarding possible events, conditions or results of operations that is based upon assumptions about future economic conditions and courses of action. All information other than matters of historical fact may be forward-looking information. In some cases, forward-looking information can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such forward-looking information. Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking information contained in this release include, but are not limited to: the possibility that the necessary shareholder and regulatory approvals will not be obtained in a timely manner or at all, and that other conditions to completion of the acquisition will not be satisfied; and risks related to the inherent uncertainty of mineral exploration and development activities generally, including political and regulatory risks.

Although we have attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking information, readers are cautioned that this list is not exhaustive and there may be other factors that we have not identified. Readers are cautioned not to place undue reliance on forward-looking information contained in this release. Forward-looking information is based upon our beliefs, estimates and opinions as at the date of this release, which we believe are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, we undertake no obligation to update or revise forward-looking information if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

All forward-looking information contained in this release is expressly qualified by this cautionary note.