we have lake maitland as well woohoo

a media release on Mega's Lake Maitland deposit which should whet the appetite :))



Mega Uranium Fast Tracks Lake Maitland Development Studies

By Nones
15 Feb 2007 at 01:20 PM EST

MEGA FAST TRACKS LAKE MAITLAND DEVELOPMENT STUDIES

· Commencement of scoping study to identify the preferred processing option

* Review of infrastructure requirements and potential socio-economic benefits to start in near future
* Program to upgrade current resource underway
* Team of uranium experts formed to oversee works program



Toronto, Ontario, Canada, February 15, 2007 – Mega Uranium Ltd. (MGA-TSX) (“Mega”) is pleased to announce that its wholly-owned subsidiary, Mega Redport Pty Ltd, is fast tracking development studies of its 100% owned Lake Maitland Uranium Project in Western Australia. Lake Maitland, located 130km southeast of Wiluna in the Eastern Goldfields region, contains a NI43-101 compliant Inferred Resource of 32.7 million tonnes @ 0.03% U3O8 (23.7 million pounds U3O8). The resource is amenable to low cost open cut mining as it occurs as a single, coherent, flat-lying mineralized layer, 1 to 3 metres thick, only 1-2 metres below surface. Only minimal portions of the resource will require blasting in the mining process.



As shown in Figure 1 below, Lake Maitland is favourably located with respect to mine development as it occurs in a region with operating gold and nickel mines and has access to nearby infrastructure including gas pipelines, power, roads and airports.



Mega’s VP-Project Development, Peter McNally, has appointed a dedicated team of experts to undertake a scoping study of Lake Maitland in order to evaluate the project economics and the key tasks involved in mine development.



The proposed scoping study is designed to:

* Determine the preferred processing option.
* Evaluate ore leaching options.
* Undertake a preliminary review of process water and waste management options.
* Commence key environmental studies.
* Evaluate infrastructure requirements
* Progress discussions with Native Title groups



Mega Chairman and CEO, Sheldon Inwentash, commented: “Mega is progressing development studies at Lake Maitland in order to be in a position to proceed quickly to a mining proposal should there be a change in the current policy on uranium mining. We are committed to the Australian uranium industry and to the development of our quality uranium resources in Western Australia and Queensland. These resources will be developed and managed by a world-class technical team, which has more than 50 years combined uranium experience in Australia”.



Other evaluation studies underway at the Lake Maitland Project include metallurgical test work, site development and access options, infrastructure and service requirements, and a broad review of socio-economic issues and regulatory requirements.



Mega is also developing a community consultation process to identify and address a broad range of issues that are likely to be raised in the mine permitting process. In addition, the company has commenced a dialogue with Indigenous communities with a view to early implementation of partnership arrangements for the development of business opportunities.



The expert team working on the project includes geologists, process chemists, metallurgists, engineers and research groups that have extensive experience in the uranium industry both in Australia and overseas.



Fig 1. Lake Maitland Uranium Project Area and Surrounds





Stewart Taylor, Mega’s President and Qualified Person under NI43-101, is responsible for this release and has verified the contents disclosed.



About Mega Uranium



Mega Uranium Ltd is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia, Colombia, Bolivia and Canada. Further information on Mega can be found on the company’s website at www.megauranium.com . Mega Uranium’s Australian uranium properties, including without limitation the Ben Lomond, Maureen and Lake Maitland properties, are subject to state policies which presently prohibit the mining of uranium.