Mega and Forum complete winter drill program

Mega Uranium Ltd. announces that the winter drill program has been completed on the Maurice Point property, which is under option from Forum Uranium Corp. (Forum) where Mega can earn a 55% interest in the project by spending $8 million over three years. Forum is the operator.

Drilling was successful in intersecting a major fault zone accompanied by strong hydrothermal alteration which is continuous from surface to a depth of 250m.

Alteration of this magnitude is comparable in size and style to that associated with known basement-hosted uranium deposits in the Athabasca Basin such as Cameco’s Millennium deposit and Areva’s and UEX’s Shea Creek.

The Maurice Point property is located along a 30 kilometre northeast trending structure known as the McKenzie Fault. Cameco’s Maurice Bay uranium deposit (1.3 million pounds U3O8, source Saskatchewan Industry and Resources, Miscellaneous Report 2003-7) lies on a parallel but smaller fault zone approximately 4km to the southeast of the McKenzie Fault.

The exploration model on the Maurice Point property is to find an Athabasca type basement-hosted deposit associated with the much larger McKenzie Fault.

A total of 10 holes for 2,321 metres were completed in two target areas known as the Colin River and the Beach Zone.

A third target known as Spring Point was not tested as the drill had to be demobilized for spring break-up. Ground gravity surveys were completed on all three grids.