The Energy Report - Mega Uranium Ltd. TSX:MGA

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Mega Uranium Ltd.

TICKER: TSX:MGA

DESCRIPTION: Mega Uranium Ltd. is a rapidly growing and internationally diversified mineral resources company with a successful track record of obtaining quality uranium deposits and uranium prospective properties worldwide. It has uranium resources in Australia and interest in 45,000 km2 of ground with uranium discovery potential in Australia, Argentina, Bolivia, Cameroon, Canada, Colombia and Mongolia.

WEBSITE: http://www.megauranium.com
Corp. Fact Sheet (4/09)

The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates.

"Mega Uranium and U308 Corp have entered into a definitive agreement that Mega's South American uranium assets and $4.0 million in cash are transferred to U308 in exchange for 30,564,858 common shares in U308 Corp.

Based on the closing price of U308 Corp. shares when they last traded on February 11 at C$0.47, the deal would equate to ~$14.37 million in share value. At UWE-V;s 90-day VWAPs of $0.49, the deal would be worth ~$14.94 million.

. . .The deal, if closed, allows Mega to effectively divest of its non-core South American assets and focus on the advancement of its flagship, ^%%-interest Lake Maitland uranium project in Western Australia, which hosts a collective resource of 25.2 Mlb U308 grading 370 ppm, while passing on to current Mega shareholders and option for direct exposure to a South American-focused uranium explorer, with $8.0 mill8ion in cash to advance a portfolio of projects."
-GEORDIE MARK, HAYWOOD SECURITIES (02/18/10)

"An exploration update from Mega Uranium Ltd. highlighted 16 grab samples from the Bruce River property with U3O8 values between 10 ppm to 950 ppm, and a channel sample from Aillik showing 4.75 meters at 1100 ppm U3O8. Other results included grab samples showing 5.2% TREO discovered at Byron Bay, and the discovery of gabbro to peridotite assemblages at the Greenwich Lake property in Ontario, similar to PGM structures found elsewhere."
- Junior Mining Weekly (01/21/10)

"Toronto-based Mega Uranium on Tuesday reported net income of C$21.5-million for the year ended September 30, up from a net loss of C$195.5-million in the previous 12 months.

In the prior period, the company recorded write-downs of C$233.4-million, compared with just C$6.3-million this year.

During the 2009 financial year, the firm had income from financial and trading activities for the year of C$6.7-million, most of which related to unrealized gains on investments in public companies.

Mega is exploring for uranium in Australia, Argentina, Colombia and Cameroon. During the year, the company agreed to sell a 30% stake in its Lake Maitland project, in Western Australia, to the Japan Australia Resources Development Company, as well as 5% to ITOCHU Corporation.

The company ended its financial year with cash, cash equivalents and marketable securities equal to C$22.3-million.

However, it has since raised another C$50-million in a financing.

'During fiscal 2009, we concentrated our exploration activities on those properties that we felt represented the best opportunities for the company in 2010, and secured an excellent partner for our Lake Maitland project in Western Australia,' said CEO Sheldon Inwentash.

'Having raised C$50-million just after the 2009 year-end, we are very well financed and now look forward to advancing our Lake Maitland project and continuing our focused exploration activities.'"
- Mining Weekly, Liezel Hill (12/22/09)

"I think that Mega Uranium looks interesting right now. The company just did a financing, which has depressed the stock. Mega's strategic partnership with Japan Australia Uranium Resources Development Co. Ltd. and ITOCHU, the Japanese syndicate, is a very promising development for the company."
- The Energy Report Interview with James Passin (11/19/09)

"Mega Uranium (MGA-T) this week signed a Memorandum of Understanding (MOU) for infrastructure and services sharing with Navigator Resources (NAV-AU). This is a step toward their joint interest in negotiating for the shared use of some of Navigator's facilities at the Bronzewing gold project facilities. Navigator's Bronzewing project adjoins Mega's Lake Maitland uranium project in the goldfields region of Western Australia. Navigator's infrastructure at Bronzewing includes a certifiable airstrip, power station and fuel farm, water supply infrastructure and access roads, 280-person village/camp and rec facilities, surface workshops and offices."
-GEORDIE MARK, HAYWOOD SECURITIES (11/18/09)

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