Mega Uranium Ltd.

Mega Uranium Ltd.

September 28, 2007 18:00 ET

Mega Uranium Ltd.-Late Filing of Business Acquisition Report

TORONTO, ONTARIO--(Marketwire - Sept. 28, 2007) - Mega Uranium Ltd. (TSX:MGA) ("Mega") announces that it has filed on SEDAR ( a business acquisition report ("BAR") in respect of its previously announced acquisition of Redport Limited, which was completed on October 31, 2006. In accordance with National Instrument 51-102 - Continuous Disclosure Obligations, the BAR was required to be filed within 75 days of completion of the acquisition. The delay in filing the BAR was due to Mega's migration to the Toronto Stock Exchange from the TSX Venture Exchange during the course of the Redport acquisition and the different thresholds applicable to TSX- versus TSXV-listed issuers under the business acquisition provisions of National Instrument 51-102. While Mega was not subject to the BAR requirements when the acquisition was first announced in July 2006, the company inadvertently failed to reconsider the effect of its TSX listing on such requirements at the time of completion of the acquisition.

The operating results and financial condition of Redport, which is a wholly-owned subsidiary of Mega, have been consolidated with and are reflected in Mega's consolidated financial statements for the interim periods ending December 31, 2006, March 31, 2007 and June 30, 2007, all of which are available on SEDAR.


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 and Maureen properties, are subject to state policies which presently prohibit the mining of uranium in Australia.

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