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MEGA URANIUM TO ACQUIRE URANIUM RIGHTS
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Metals News - Toronto, Ontario, Mega Uranium Ltd. (“Mega”) (MGA:TSXV) is pleased to announce that it
has entered into an Agreement with Intrepid Minerals Corporation (“Intrepid”) (IAU:TSXV) in Bolivia,
whereby Mega can earn a 75% interest in the uranium-molybdenum content of 16 exploration concessions
held by Intrepid, while Intrepid will retain the majority rights to its priority precious metal targets. Any
additional property with uranium potential acquired in Bolivia by either party during the course of the
Agreement will be subject to the Agreement.
Under the Agreement, Mega can earn a 75% interest in the uranium mineralisation in the 16 exploration
concessions, and additional properties acquired, through a total expenditure of US$500,000 within three
years, of which US$100,000 must be incurred within 12 months of the date of the Agreement. The
Agreement is subject to Mega having up to a 60 day period to conduct due diligence of the properties. Upon
satisfactory due diligence, the parties will enter into a formal agreement, following which Mega will issue
Intrepid 10,000 common shares.
When Mega earns its 75%, both parties will have the option of funding to maintain their respective
interests, or of diluting in accordance with the standard dilution formula. Should a party dilute to a 10%
interest or less, it will automatically revert to a 1% NSR.
Should the joint venture discover other potentially commercial mineral deposits other than uraniummolybdenum
in its exploration, such deposits will be excised from the Agreement and be the subject of a
separate agreement in which Intrepid will be accorded a 75% interest and Mega will have a 25% freecarried
interest.
The properties currently subject to the Agreement are located within two geographically separate entities of
Bolivia, the Altiplano and the Precambrian of Eastern Bolivia, and contain potential for two styles of uranium
mineralisation.
In the Altiplano, the three concessions, totaling 20.5km2, cover Miocene ignimbritic volcanics in the vicinity
of the old Cotaje uranium workings, and contain potential for structurally-controlled uranium mineralisation
similar to the Macusani Belt of the Puno area of southern Peru.
In the Precambrian area of eastern Bolivia, the 13 concessions, totaling 117km2, cover radiometric
anomalies which were detected along the Middle Proterozoic/Lower Proterozoic unconformity by airborne
surveys conducted by the British Geological Survey in 1992-1996. Potential for unconformity-related
uranium deposits is indicated by the presence of graphitic sediments close to the unconformity in both the
Middle Proterozoic and Lower Proterozoic sequences and by an overall geological setting which is similar to
that of the uranium mineralisation of the Athabaska Basin in Canada and the Pine Creek area of Northern
Territory, Australia.
Mega will manage the uranium exploration programmes in cooperation with Jim McNamee, a long time
resident in Bolivia with considerable expertise in the country’s geology and mineralisation.
Stewart Taylor, Mega’s President is the Qualified Person responsible for this news release.
.
Mega Uranium Ltd. is a Toronto–based mineral resources company with a focus on uranium properties in
Australia, Argentina, Mongolia and Canada. Further information on Mega can be found on the company’s
website at www.megauranium.com
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions
of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to
risks and uncertainties and other factors that may cause Mega’s results to differ materially from
expectations. These include risks relating to market fluctuations, property performance and other risks.
These forward-looking statements speak only as of the date hereof. Mega Uranium disclaims any intent or
obligation to update these forward-looking statements and cautions i
| MetalsNews News |
TTM RESOURCES INC. ACQUIRES NEW CLAIMS ADJACENT TO CHU MOLYBDENUM PROPERTY Vancouver, B.C. - (MetalsNews.com, August 31, 2010) – TTM Resources Inc. (the “Company”) announced that it has entered into Purchase Agreements with two vendors to acquire eight additional mineral claims adjacent to the Company’s Chu molybdenum property in northern British Columbia. The claims expand the area of the Chu property by approximately 1,970 hectares. |
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Some companies pursue a diversified approach and broaden their skill-set while minimizing their risks. Other companies go in the opposite direction, focusing solely on a single target, which gives them other advantages and mitigates other risks. Thompson Creek Metals Company (NYSE: TC, TSX: TCM) pursues the latter strategy and investors who are excited about the burgeoning opportunities in the molybdenum market will love this company's focus. Click here to continue... |
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Avanti Mining focuses on Molybdenum: An Experienced Gold Manager Turns His Attention to Molybdenum by Allen Alper Jr. and Aaron Hoos

Gold, silver, uranium, and other metals often get glamorous headlines and a dedicated following who will invest in them and swear by them through thick and thin. Click here to continue... |
Numerous 100-Percent-Owned Properties, Financially Independent, Diversified and Making Innovations in Eco-Friendly Minerals Applications by Dr. Allen Alper and Bryan Martin
 The last time Metalsnews.com spoke with the ever-ebullient Jack Stoch, President and CEO of Quebec-based Globex Mining Enterprises Inc., his domain included 85 projects, all of which featured elements spanning a vast stretch across the periodic chart. October saw Globex celebrate a milestone of 60 years in the exploration and mining sphere. Click here to continue... |
The Waterfront Mining Group: Molybdenum, Nickel, Copper, Cobalt, Platinum, Palladium and Silver by Dr. Allen Alper and Mindy Matter
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