Mega Uranium Ltd.
TSX : MGA

Mega Uranium Ltd.

December 11, 2007 11:03 ET

Mega Uranium Announces Discovery of Nine Uranium Mineralized Zones on its Aillik East Property and the Completion of Drilling at Mustang Lake, Central Mineral Belt, Labrador

TORONTO, ONTARIO--(Marketwire - Dec. 11, 2007) - Mega Uranium Ltd. ("Mega") (TSX:MGA) is pleased to announce analytical results from nine newly discovered uranium mineralized zones on its wholly owned Aillik East Property, as well as the completion of Phase 3 drilling on its Mustang Lake joint venture property and an initial phase of drilling on its Bruce River joint venture property in the Central Mineral Belt of Labrador. Analytical results of grab samples from the newly discovered zones at Aillik East gave results ranging from 0.01% to 13.8% U3O8 in 20 mineralized samples.

AILLIK EAST

The Aillik East property covers an area of 393 square kilometers in the eastern part of the Central Mineral Belt. The stratigraphic sequence which dominates this property is the Aillik Group, which is the same sequence which hosts Aurora Energy's Michelin and Jacques Lake deposits.

A program of prospecting and geological mapping, carried out in the summer of 2007 on the Aillik East property followed up on radiometric anomalies identified by a 2007 airborne geophysical survey as well as anomalous zones defined from a 2006 lake sediment geochemistry survey, (as previously reported in a Monster Copper Corporation news release, February 20, 2007). This program led to the discovery of nine new uranium mineralized zones. Analytical results of 51 grab samples from these zones indicate uranium mineralization in 20 samples with results ranging from 0.01% to 13.8% U3O8. The principal zones are as follows:

Aillik East - Priority One

Geological mapping, assisted by scintillometer and spectrometer measurements, of the Priority One zone indicates that the anomalous zone is at least 200 meters long and 150 meters wide. Six grab samples, from a 100 meter by 60 meter portion of this zone, gave analytical results ranging from 0.06% to 0.72% U3O8 with an average assay of 0.25% U3O8. Priority One is within 200 meters of the Quinlan showing, which contains grab samples up to 2.09% U3O8 (as previously reported in a Monster Copper Corporation News Release November 15, 2006). Additional analytical results from the Priority One zone are pending.

Aillik East - Powe

A single grab sample from this zone yielded 13.8% U3O8 and is located approximately 38 meters from a showing discovered during the 2006 exploration program which contains grab samples up to 0.14 % U3O8 (previous news release by Monster Copper Corp) The extent of the zone hosting both showings has not been mapped but is at least 38 meters along strike.

Aillik East - Harbinger

Geological mapping assisted by spectrometer and scintillometer measurements indicates that the Harbinger zone can be delineated for a strike length of at least 150 meters. Two grab samples taken 25 meters apart from within this zone gave 0.38 % U3O8 and 0.19 % U3O8. Additional analytical results from the Harbinger zone are pending.

Aillik East - Basin and Range

Geological mapping assisted by scintillometer and spectrometer measurements helped to define a mineralized zone approximately 70 meters in length. Four grab samples taken from a 26 meter zone within this zone gave results of 0.10% U3O8, 0.12% U3O8, 0.21% U3O8 and 0.36% U3O8.

"We are very encouraged by these results" said Michael Downes, Mega's VP North America.. "Mega has been able to secure a strong land position over an area of stratigraphy which is similar to that at Michelin. These new discoveries of surface mineralization demonstrate the prospectivity of a belt which has historically received scant exploration."

Based on these encouraging results, Mega has staked two new properties, the Cape Harrison and Byron Bay properties collectively covering 44 square kilometers. This new staking encompasses all known outcrops of Aillik Group or correlative rocks and associated granites in the eastern Central Mineral Belt.

MUSTANG LAKE

Mega has completed its Phase 3 drilling program on the Mustang Lake property (Mega holds a 50% interest and is the operator). A total of 2,516 meters was drilled in nine holes. Seven of these holes, totaling 1945 meters, were drilled on the South Prospect zone in the vicinity of a previous intercept of 9.11 meters of 0.12% U3O8, in an attempt to establish any lateral extent of this intercept. Two holes, totaling 571 meters, were drilled on the Mustang East zone testing a shear zone thought to be the source of the Mustang East boulder train. Analytical results for Phase 3 drilling at Mustang Lake are pending.

BRUCE RIVER

On the Bruce River property (Mega also holds a 50% interest) three holes were drilled for a total of 402 meters to test the historical Sylvia Lake Uranium showing. Analytical results are pending.

Sampling as referenced in this news release was done under the supervision of Tom Setterfield, Ph.D., P.Geo, and Qualified Person, as defined by National Instrument 43-101. Samples were analysed at Activation Laboratories in Ancaster, Ontario. Mega, the operator of the field programs, employs a system of quality control for all assays, which includes the regular use of standards, blanks and check assays.

ABOUT MEGA URANIUM

Mega Uranium Ltd is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada, Cameroon, Argentina, Bolivia, Colombia and Mongolia. 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 Ben Lomond, Maureen and Lake Maitland, are subject to State policies which presently prohibit the mining of uranium.

Contact Information

  • Investor Relations
    Mega Uranium Ltd.
    Richard Patricio
    VP Corporate and Legal Affairs
    (416) 643-7630
    Email: info@megauranium.com
    or
    Media Relations
    Mega Uranium Ltd.
    Wanda Cutler
    Director of Corporate Communications
    (416) 860-1717
    Website: www.megauranium.com