hmr takeover ground next door to sim, page-41

canadian taking over more u company Check below. The Canadian will find SIM much cheaper than other U stocks and SIM start drilling in 2 weeks.

Go baby.

Press Release
Source: Mega Uranium Ltd.


Mega to Acquire Additional Uranium Resources in Queensland, Australia
Monday March 27, 10:42 am ET


TORONTO--(BUSINESS WIRE)--March 27, 2006--Mega Uranium Ltd. ("Mega") Top Stories
(TSX VENTURE:MGA - News) is pleased to announce that it has entered
into an Agreement to acquire the private Australian company, Future
Metals and Energy Ltd ("FME"), which holds historical uranium •
resources totaling 6.4 million lbs U3O8 (2.34 million tonnes) in Dow Closes Down 30,
exploration permits adjacent to Mega's Georgetown Project, in North Nasdaq Finishes Up 3 -
Queensland, Australia (refer to the Mega's press release of November AP (7:08 pm)
18, 2005). Upon completion of this Agreement, Mega will have acquired •
rights to all the principal known uranium resources in the Georgetown Enron Trial Focuses on
region within 30km of Mega's 6.5 million lbs U3O8 Maureen resource Skilling Stock Sale -
(2.38 million tonnes @ 0.12 % U3O8).

Under the Agreement, Mega can acquire FME for a total consideration
of 1 million Mega shares. The deal is subject to Mega's completion of •
satisfactory due diligence on the FME properties, and to TSX Venture Most-emailed articles
approval. •
FME's 11 exploration permits, totaling 4,874 km2, cover Upper
Devonian to Lower Carboniferous sediments/volcanics and their
unconformable contact with underlying Palaeoproterozoic
metasediments, and granitoids of Proterozoic and Silurian to Early
Devonian ages. The properties contain numerous uranium occurrences
and several small uranium resources, which were delineated by
Minatome Australia Pty. Ltd. ("Minatome") and Esso Exploration and
Production Australia Inc. (Esso)in the 1970s to early 1980s. The
Minatome and Esso uranium resource estimates, reported below, were
competently conducted according to the standards of the day, and, as
such, are regarded by Mega as a reasonable reflection of the
magnitude and grade of the mineralisation. However, as they were
conducted prior to the introduction of the JORC regulations in
Australia, they must therefore be reported as unreliable at this time
according to the NI43-101 guidelines. At this time there are no more
recent estimates or data available to Mega. Mega will engage an
Independent Qualified Person to establish resources that are 43-101
compliant.


The largest concentration of uranium resources in the FME ground is
the Dagworth-Quartz Blow NE-trending zone in the Fiery Creek area,
located some 30km southeast of the Maureen deposit, where uranium
mineralisation occurs in steeply dipping NE-trending vein systems
within dykes and fault zones straddling the unconformity between
Lower Carboniferous sediments/volcanics and underlying
Palaeoproterozoic metasediments. Within this 8km long zone are the
Four Geo, Two Gee and Quartz Blow deposits, which were reported by
Minatome in 1983 to contain a total of 5.1 million pounds U3O8 at an
average grade of 0.09% U3O8, based on a 0.059% U3O8 or 0.035% U3O8
cut-off. Potential exists in this NE-trending zone to delineate
additional uranium resources in the projections of the three known
resources at depth or along strike, and in inadequately tested
uranium prospects elsewhere.


The other area of the FME ground in which a uranium resource has been
delineated is the east-west trending, 5-6 metres wide, Lineament
Fault Zone, some 30km south of the Maureen deposit, where there are
several high-grade uranium occurrences over a 9km strike length. The
largest uranium deposit discovered to date in this area, Central 50,
was reported by Esso in 1981 to have a resource of 1.3 million pounds
U3O8 at a grade of 0.16% U3O8 based on a 0.045% U3O8 cut-off. There
is potential to discover additional uranium resources along the
Lineament Fault Zone and its vicinity. For example, Esso's
exploration of the Somerset prospect in the 1970s included drill
intersections up to 4 metres true width @ 0.13% U3O8 and trench
exposures with up to 4 metres @ 0.06% U3O8.


The FME ground will be included in a detailed airborne
magnetic-radiometric survey of Mega's Georgetown Project ground,
which is scheduled to be flown in June 2006.


Stewart Taylor, President, Mega's Qualified Person under NI 43-101,
is responsible for the contents of this release and has verified the
data disclosed.


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 investors from placing
undue reliance on forward-looking statements. Mega does have an
ongoing obligation to disclose material information as it becomes
available.


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESP
ONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Mega Uranium Ltd. (TSX VENTURE:MGA - News)



Contact:
Mega Uranium Ltd.
Sheldon Inwentash
CEO
(416) 643-7630
[email protected]
www.megauranium.com
Source: Mega Uranium Ltd.