Mega Uranium Ltd.
TSX : MGA

Mega Uranium Ltd.

June 07, 2007 08:00 ET

Mega Uranium and Monster Copper Announce Closing of Acquisition

TORONTO, ONTARIO--(Marketwire - June 7, 2007) - Mega Uranium Ltd. (TSX:MGA) ("Mega") and Monster Copper Corporation ("Monster Copper") are pleased to announce that Mega's previously-announced acquisition of Monster Copper closed on June 6, 2007.

Under the terms of the acquisition, Monster Copper amalgamated with a wholly-owned subsidiary of Mega. The resulting company will continue to carry on the business of Monster Copper as a wholly-owned subsidiary of Mega. Each six common shares of Monster Copper were exchanged for one common share of Mega and one-half of one common share purchase warrant of Mega, each whole purchase warrant entitling the holder to receive one common share of Mega at a purchase price of $7.00 per share until expiry on June 6, 2012.

Certificates evidencing the common shares and warrants of Mega to which the former registered shareholders of Monster Copper are entitled will be mailed by Equity Transfer & Trust Company commencing on or about June 11, 2007. Subject to Mega fulfilling the customary requirements of the TSX, it is expected that the warrants will commence trading on the TSX under the symbol MGA.WT.A on or about June 13, 2007.

ABOUT MEGA URANIUM

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 www.megauranium.com. Mega'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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