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Mega Uranium and Nu Energy Announce Update to Acquisition

Monday, August 13th, 2007

Mega Uranium Ltd. and Nu Energy Uranium Corporation 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.

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