MEGA Uranium Completes Ben Lomond Sale
The Uranium Leader TM
PRESS RELEASE
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PRESS RELEASE
MEGA URANIUM LTD.: “MGA” (TSX)
FOR IMMEDIATE RELEASE: October 3, 2022
MEGA URANIUM COMPLETES BEN LOMOND SALE
Toronto, Canada (October 3, 2022) – Mega Uranium Ltd. (MGA: TSX) announces the closing of the
sale of its Ben Lomond uranium property located in Queensland, Australia (the “ Property”) to
Consolidated Uranium Inc. (“CUR”), following the prior exercise by CUR of its option on the Property.
Mega received an aggregate of 1,104,240 common shares of CUR in payment of the $2.5 million
purchase price for the Property and an additional 236,308 common shares in satisfaction of a
$535,000 payment that w as contingent upon the monthly average spot price of uranium reach ing
US$50 subsequent to May 2020.
Additional payments of up to $1,850,000, which are contingent upon monthly average uranium spot
prices of at least US$75 and US$100, remain payable to Mega for a period of twenty years.
Together with the securities of CUR that it held immediately prior to closing, mega holds an aggregate
of 4,721,826 common shares of CUR, representing approximately 6% of the company’s outstanding
shares, and an additional 338,139 common share purchase warrants.
ABOUT MEGA URANIUM LTD.
Mega Uranium Ltd. is a Toronto -based mineral resources company with a focus on the Georgetown
uranium propert y in Australia and a portfolio of equity investments in uranium -focused public and
private companies . Further information on Mega can be found on the company’s website at
www.megauranium.com.
For further information please contact:
Mega Uranium Ltd.
Richard Patricio
Chief Executive Officer and President
T: (416) 643-7630
www.megauranium.com