Mega Uranium Ltd.
TSX VENTURE : MGA

Mega Uranium Ltd.

April 11, 2006 09:41 ET

Mega Uranium Ltd. to Raise $29,750,000

TORONTO, ONTARIO--(CCNMatthews - April 11, 2006) -

NOT FOR DISSEMINATION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Mega Uranium Ltd. ("Mega")(TSX VENTURE:MGA) announced today that as a result of investor interest, it is raising the minimum of its proposed non-brokered financing (see press release dated April 6, 2006) for an expected minimum of 3,500,000 units (the "Units") at a price of $8.50 per Unit for expected aggregate gross proceeds of a minimum of $29,750,000.

All of the other terms of the proposed financing described in the April 6, 2006 release remain the same. Completion of the financing remains subject to TSX Venture Exchange approval.

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.

ISSUED AND OUTSTANDING COMMON SHARES: 44,316,144

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

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