Mega Uranium Ltd. Announces Increase to Flow-Through Financing
PRESS RELEASE
MEGA URANIUM LTD.: “MGA” (TSX)
FOR IMMEDIATE RELEASE: February 17, 2011
MEGA URANIUM LTD. ANNOUNCES INCREASE TO FLOW-THROUGH FINANCING
Toronto, Canada, February 17, 2011 – Mega Uranium Ltd. (“Mega”) (MGA:TSX) announces that it has increased the size of its proposed non-brokered flow-though financing to up to 6,000,000 units (the “Units”) at a price of $1.10 per Unit for aggregate gross proceeds of up to $6,600,000.
All of the other terms of the financing described in the press release early today remain the same. Completion of the financing remains subject to regulatory approval.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada and Cameroon. Further information on Mega can be found on the company’s website at www.megauranium.com. Mega Uranium’s Ben Lomond and Maureen uranium resources are subject to a Queensland State Government policy that presently prohibits the mining of uranium.
For further information, please contact:
Investor Relations
Mega Uranium Ltd.
Richard Patricio EVP Corporate Affairs T: (416) 643-7630 [email protected] www.megauranium.com
Note Regarding Forward-Looking information
Certain information contained in this press release constitutes “forward-looking information”, which is information regarding
possible events, conditions or results of operations that is based upon assumptions about future economic conditions and
courses of action. All information other than matters of historical fact may be forward-looking information. In some cases,
forward-looking information can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”,
“estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will”
and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking information in this press release includes, but is not limited to, statements about our plans regarding future
acquisitions and property development, our expectations regarding the uranium market, global growth and the use of nuclear
power, our drill results, commodity prices and core intersection lengths, in that they constitute estimates, based on certain
assumptions of mineralization that may be encountered if a deposit were to be mined.
By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such
forward-looking information. Some of the risks and other factors that could cause actual results to differ materially from those
expressed in the forward-looking information contained in this release include, but are not limited to: risks and uncertainties
relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic
evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration,
development or mining results will not be consistent with the Company’s expectations; risks relating to possible variations in
reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to
be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including
work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the
potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent
uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity
price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in
which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or
delays in obtaining governmental approvals or in the completion of development or construction activities; risks related to
environmental regulation and liability; political and regulatory risks associated with mining and exploration; and other risks and
uncertainties related to the Company’s prospects, properties and business strategy.
Although we have attempted to identify important factors that could cause actual results or events to differ materially from
those described in the forward-looking information, readers are cautioned that this list is not exhaustive and there may be other
factors that we have not identified. Readers are cautioned not to place undue reliance on forward-looking information
contained in this release. Forward-looking information is based upon our beliefs, estimates and opinions as at the date of this
release, which we believe are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, we
undertake no obligation to update or revise forward-looking information if these beliefs, estimates and opinions or other
circumstances should change, except as otherwise required by applicable law.
All forward-looking information contained in this release is expressly qualified by this cautionary note.