Mega Uranium Ltd.
TSX VENTURE : MGA

Mega Uranium Ltd.

February 01, 2006 16:30 ET

Mega Uranium Ltd.: New Gold Zones Discovered in First Deaty Creek Drill Core Shebandowan Camp, Thunder Bay, Ontario

TORONTO, ONTARIO--(CCNMatthews - Feb. 1, 2006) - Mega Uranium Ltd. ("Mega") (TSX VENTURE:MGA) -

- Gold mineralization over 85m in hole DC-06-1

- Gold zones in DC-06-1: 0.24g/t to 4.12g/t in 3.5m to 12m wide zone

- Gold zones in DC-06-2: 0.12g/t to 7.18g/t over 7.85m including 2.07g/t over 4m

- Copper-molybdenum to gold phases indicated along 7.0 km property

- Surface samples 500m apart carry gold values in pyrite alteration zone

Mega Uranium Ltd. ("Mega") (TSX VENTURE:MGA) (through its Maple Minerals division) and East West Resource Corporation (TSX-V: EWR) are pleased to report the discovery of new gold occurrences on the Deaty Creek property.

Geological Details:

Surface samples contain gold values of 0.2 g/t to 3.67 g/t, which consists of disseminated pyrite zones in pink altered volcanic rocks. These were exposed when preparing drill sites. Some samples contain only anomalous copper with values ranging up to 2400 ppm (0.24%), however, higher copper values do not necessarily correspond to higher gold values since pyrite and magnetite appear to be the most common minerals in the gold bearing silicified, altered rocks (see samples on L51E). It is important to note that these are not quartz veins but are wide spread alteration zones. These zones were previously documented and constitute new mineral discoveries. The zones also correlate with IP (Induced Polarization) anomalies and magnetic anomalies that each extend up to 800m in length. Drill holes are planned on several en echelon anomaly zones that occur along a 2.0 km strike length, from L40E to L60E, and new lines are being cut to allow geophysical surveying to detail the westward extension of the targets toward the Hamlin property. Preliminary observations suggest that there is copper-molybdenum to gold zonation within the extensive alteration zone identified along the 7.0 km length of the Hamlin to Deaty Creek property.



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Deaty Creek Surface Samples
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Silver Copper Gold
Ticket # Grid Line Grid Stn. Ag (g/t) Cu (ppm) Au (g/t)
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639129 L51E 6+90S 1.5 258 0.77
639130 L51E 6+90S 3.6 158 3.67
639131 L51E 6+90S 0.8 227 0.28
639142 L46E 5+85S 1.6 2400 0.41
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31.1 grams equals 1 troy ounce


Drill holes DC-06-1 and DC-06-2 on lines 59E and 58E (spaced 100m apart), respectively, have also intersected gold values within a wide-spread alteration system consisting of pyrite, magnetite, epidote, and chlorite cross-cutting pink altered felsic volcanic rocks. The alteration zone occurs throughout the drill holes (227m in DC-06-1 and 272m in DC-06-2).



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Highlights from Drill Hole DC-06-1
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Silver Copper Gold
Ticket # From (m) To (m) Interval Ag Cu Au
(m) (g/t) (ppm) (g/t)
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753605 47.00 48.00 1.00 0.4 90 0.59
753606 48.00 49.00 1.00 0.2 87 0.31
Wtd. Average 0.3 88.5 0.45
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753609 51.00 52.00 1.00 0.4 166 0.29
753610 52.00 53.00 1.00 0.4 207 0.32
Wtd. Average 0.4 186.5 0.31
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753614 56.00 57.00 1.00 0.2 83 0.36
753615 57.00 58.00 1.00 0.3 86 0.24
753616 58.00 59.00 1.00 0.2 101 0.39
753617 59.00 60.00 1.00 0.3 96 1.53
753618 60.00 61.00 1.00 0.2 153 1.38
753675 61.00 62.00 1.00 0.2 208 0.78
753676 62.00 63.00 1.00 0.2 34 0.15
753677 63.00 64.00 1.00 0.2 30 0.08
753620 64.00 65.00 1.00 0.5 224 1.86
753621 65.00 66.00 1.00 0.2 126 0.43
753622 66.00 67.00 1.00 0.2 69 0.49
753623 67.00 68.00 1.00 0.2 130 0.96
Wtd. Average 12.00 0.2 112 0.72
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753626 70.00 71.00 1.00 0.3 136 0.37
753627 71.00 72.00 1.00 0.2 146 0.30
Wtd. Average 2.00 0.3 141 0.34
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753631 78.00 79.00 1.00 0.3 277 0.14
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753632 92.00 92.50 0.50 0.4 175 0.25
753633 92.50 93.00 0.50 0.2 78 0.21
753634 93.00 93.50 0.50 0.3 90 0.08
753635 93.50 94.00 0.50 0.5 905 0.82
753636 94.00 94.50 0.50 0.2 59 0.36
753637 94.50 95.00 0.50 0.2 29 0.46
753638 95.00 95.50 0.50 0.2 103 0.51
Wtd. Average 3.50 0.3 206 0.39
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753653 113.00 113.50 0.50 0.2 28 0.20
753654 113.50 114.00 0.50 0.4 149 0.61
753655 114.00 114.50 0.50 0.7 123 1.22
753656 114.50 115.00 0.50 0.4 178 1.07
753657 115.00 115.50 0.50 0.2 40 0.36
753658 115.50 116.00 0.50 1.4 71 4.12
Wtd. Average 3.00 0.6 98 1.26
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753660 116.50 117.00 0.50 0.8 289 0.85
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753668 127.00 128.00 1.00 0.2 85 0.26
753669 128.00 129.00 1.00 0.3 216 0.15
753670 129.00 130.00 1.00 0.4 90 0.25
753671 130.00 131.00 1.00 0.3 275 1.14
753672 131.00 132.00 1.00 0.2 57 0.72
Wtd. Average 5.00 0.3 145 0.51
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31.1 grams equals 1 troy ounce

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Highlights from Drill Hole DC-06-2
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Silver Copper Gold
Ticket # From (m) To (m) Interval Ag Cu Au
(m) (g/t) (ppm) (g/t)
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753712 32.10 33.00 0.90 0.4 277 0.21
753713 33.00 33.50 0.50 1.9 1095 0.35
753714 33.50 34.00 0.50 2.6 887 1.34
753715 34.00 34.50 0.50 2.2 2250 7.18
753716 34.50 35.50 1.00 1.2 597 2.75
753717 35.50 36.50 1.00 1.7 2940 0.56
753718 36.50 37.00 0.50 1.6 2600 0.43
753719 37.00 37.50 0.50 4.1 2860 0.95
753720 37.50 38.00 0.50 1.5 1575 0.45
753721 38.00 38.50 0.50 0.9 1240 0.26
753722 38.50 39.50 1.00 0.4 362 0.14
753723 39.50 39.95 0.45 0.2 296 0.12
Wtd. Average 7.85 1.4 1342 1.16
4.00 2 1959 2.07
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31.1 grams equals 1 troy ounce


When analysing for basemetal and silver values, Copper, Silver, and Molybdenum were determined by ICP (inductively coupled plasma) after an aqua regia acid digestion. Assays exceeding 100 grams silver and 10,000 parts per million (ppm) copper were repeated using multi acid digestion and atomic absorption (AA). Check assays were run on high values.

Gold values were determined by fire assay extraction on 30 gram samples followed by an AA finish.

Preparations of the samples outlined in this news release were carried out by ALS Chemex in Thunder Bay and assaying was carried out by ALS Chemex in North Vancouver.

Mega Uranium Ltd (TSX VENTURE:MGA) and East West Resource Corporation each hold a 50% interest in both the Hamlin and Deaty Shebandowan properties.

The project set out above is being supervised by R. Middleton, P.Eng. who is the Qualified Person and the person responsible for quality control of the assaying and reporting. More details are available on SEDAR at www.sedar.com.

Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia and Canada. Further information on Mega can be found on the company's website at www.megauranium.com

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Mega's results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Mega Uranium disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Mega does have an ongoing obligation to disclose material information as it becomes available.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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