Mega Uranium Ltd.
TSX : MGA

Mega Uranium Ltd.
Nu Energy Uranium Corporation
TSX VENTURE : NU

Nu Energy Uranium Corporation

August 10, 2007 16:06 ET

Mega Uranium and Nu Energy Announce Update to Acquisition

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2007) - Mega Uranium Ltd. ("Mega") (TSX:MGA) and Nu Energy Uranium Corporation ("Nu") (TSX VENTURE:NU) are pleased to announce that Mega's proposed acquisition of Nu, by way of a three-cornered amalgamation, was approved by the shareholders of Nu at Nu's annual and special meeting held today.

Under the terms of the acquisition, shareholders of Nu will be entitled to receive two common shares of Mega in exchange for every three common shares of Nu held prior to the effective date of the amalgamation. It is expected that the amalgamation will become effective on August 14, 2007. Trading in common shares of Nu on the TSX Venture Exchange will cease at the close of business on August 13, 2007 and the shares will be de-listed from the Exchange.

Certificates evidencing the common shares of Mega to which the former registered shareholders of Nu are entitled will be mailed by Equity Transfer & Trust Company commencing on or about August 16, 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 Uranium's Australian uranium properties, including without limitation the Ben Lomond, Lake Maitland and Maureen properties, are subject to state policies which presently prohibit the mining of uranium in Australia.

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