Mega Uranium Ltd T.MGA

Mega''s latest ADVENTURE....

[Frenchiefrank]

MEGA'S LATEST ADVENTURE...... Mega Uranium options Poplar from CanAlaska 2007-10-03 10:38 ET - News Release Mr. Richard Patricio reports MEGA URANIUM OPTIONS CANALASKA'S POPLAR PROPERTY, ATHABASCA BASIN, SASKATCHEWAN Mega Uranium Ltd. has entered into an agreement with CanAlaska Uranium Ltd. on CanAlaska's 100-per-cent-owned Poplar property, which is located on the northern rim of the Athabasca basin of Northern Saskatchewan. Mega can earn a 50-per-cent interest in the Poplar property by spending $6-million and by issuing 100,000 Mega shares to CanAlaska over three years. Mega has a $2-million expenditure commitment in the first year of the option and CanAlaska will initially operate the project. Mega can earn a further 5-per-cent interest (total 55-per-cent interest) by paying CanAlaska $2-million and issuing an additional 100,000 Mega shares. The 110,268-hectare Poplar property covers 70 kilometres of the northern margin of the Athabasca basin in Northern Saskatchewan, at the eastern end of Lake Athabasca, stretching from Poplar Point in the east to Uranium City and the Gunnar uranium mine in the west. Geological targets in this area are unconformity-style uranium deposits and their basement-hosted root zones at the Athabasca unconformity, which, in this area, lies at very shallow depths (zero to 200 metres). Previous exploration by E&B Exploration Ltd. in 1979, did include airborne and marine geophysics. However, this work was hindered by equipment limitations and though targets were generated, none were followed up. Geotech Surveys has been commissioned to immediately commence a helicopter-borne magnetic and high-powered transient electromagnetic survey (VTEM) over the optioned property. Lake and ground geophysical surveys are anticipated follow-up in early 2008, in order to define drill targets. Mega is pleased to join CanAlaska on the geologically prospective Poplar property and to partner with a highly experienced technical team focused on uranium. This agreement increases Mega's exposure to the exploration potential in the Athabasca basin by adding to other recent acquisitions of Forum's Maurice Point property and the Geomode claims. Mega now has interests in exploration properties in Canada's most prospective uranium provinces -- the Athabasca basin, the Central mineral belt of Labrador, the Thelon basin and Wernecke Mountains in Yukon. Michael Downes, PhD, PGeo, vice-president, North America, is the qualified person who reviewed this release for its Funny....i bought into this CanAlaska back in EARLY 2005 and they were crap aside from this one property Mega just hookedup with them! TOO bad Mega's share price is STILL in the duldrums but have FAITH! Love, Frenchie [e-mail] IF YOU DARE!