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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News Room

Mega Uranium Completes Acquisition Of Canadian Exploration Assets

TORONTO, Ontario (February 23, 2012) - Mega Uranium Ltd. (TSX: MGA) (“Mega”) is pleased to announce that its previously announced acquisition of all of the Canadian exploration properties of Titan Uranium Inc. closed today.  As consideration for the purchase of the properties, Mega issued 10,000,000 common shares to Titan.

The portfolio of mineral properties includes 23 projects, covering 1.2 million acres located in the Athabasca Basin of Saskatchewan, the Thelon Basin project located in Nunavut, which is now wholly-owned by Mega (Mega and Titan were previously 51/49 joint venture partners), and the South Fork project in Southwestern Saskatchewan, in which Mega now holds a 50% interest (Mega and Titan previously each held a 25% interest).  The Athabasca Basin projects include the Castle North, Castle South, R-Seven, Thorburn Lake, Border Block, Bishop I and Bishop II, Virgin Trend, Rook I and Rook II, Sand Hill Lake, Carlson Creek, Meanwell and Fleming projects.

Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada and Cameroon. Further information on Mega can be found on the company’s website at  Mega Uranium’s Ben Lomond and Maureen properties in Queensland, Australia are subject to a state policy which presently prohibits the mining of uranium.

For further information, please contact:

Investor Relations
Mega Uranium Ltd.
Richard Patricio
EVP, Corporate Affairs
T: (416) 643-7630