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Mega Uranium Announces Closing of Nu Energy Acquisition

Tuesday, August 14th, 2007

Mega Uranium Ltd. has announced that its previously announced acquisition of Nu Energy Uranium Corporation (“Nu”)has closed.

Nu is now a wholly-owned subsidiary of Mega.

Under the terms of the acquisition, former shareholders of Nu will receive two common shares of Mega in exchange for every three common shares of Nu held. Based upon the number of Nu common shares outstanding as at August 10, 2007 (and subject to rounding), an aggregate of approximately 19,848,542 common shares of Mega will be issued to former shareholders in exchange for their Nu common shares. 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 June 17, 2007.

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