Mega Uranium Ltd. and Cameco Australia Pty Ltd Enter Formal Binding Farm in and Joint Venture Agreement for Kintyre Rocks

Mega Uranium Ltd. and Cameco Australia Pty Ltd Enter Formal Binding Farm in and 
Joint Venture Agreement for Kintyre Rocks Project,
Western Australia 
TORONTO, ONTARIO -- (Marketwired) -- 01/30/14 --   On July 11, 2013
Mega Uranium Ltd. (TSX: MGA) ("Mega" or the "Company") announced that
it had entered into a non-binding farm in and joint venture terms
sheet ("Terms Sheet") with Cameco Australia Pty Ltd ("Cameco"), a
wholly owned subsidiary of Cameco Corporation (TSX: CCO) (NYSE: CCJ),
in respect of certain granted tenements and tenement applications
that comprise Mega's Kintyre Rocks project, located in the East
Pilbara region of Western Australia ("Project"). The Project, owned
by Boxcut Mining Pty Ltd ("Boxcut"), a wholly owned subsidiary of
Mega, immediately surrounds the lease containing the Kintyre uranium
deposit, jointly owned by Cameco and Mitsubishi Development Pty Ltd
("Mitsubishi"). 
Mega is pleased to announce that it has now completed negotiations
of, and entered into, a formal binding farm in and joint venture
agreement for the Project with Cameco, in place of the Terms Sheet
("Definitive Agreement"). 
Pursuant to the Definitive Agreement: 


 
 
--  Cameco may earn an initial 51% interest in the Project by sole funding
    expenditure for exploration activities of AUD$2 million within 24 months
    from the date of the Definitive Agreement (the "Stage 1 Farm In"). 
--  Upon Cameco earning a 51% interest in the Project, Boxcut and Cameco
    will form a joint venture for the purpose of maintaining and exploring,
    and, if justified, the development and mining of, the Project. 
--  Cameco will be the operator of the Project during the Stage 1 Farm In
    period and the manager of the joint venture after the joint venture
    formation date. 
--  Cameco may elect to earn an additional 19% interest in the Project (for
    an aggregate total interest of 70%) by sole funding expenditure for
    exploration activities of AUD$4 million (inclusive of the AUD$2 million
    expenditure to earn a 51% interest in the Project) within four (4) years
    from the date of the Definitive Agreement.

The Definitive Agreement otherwise contains terms, representations and
warranties that are customary for an agreement of its kind. The
Definitive Agreement represents a great opportunity for Mega to
advance the exploration and development of the Project with a world
class joint venture partner that has significant uranium exploration
and other expertise in the area. 
Mega looks forward to working with Cameco to advance the Project. 
Kintyre Rocks Project, Western Australia 
The Project comprises granted exploration licences E45/2690 and
E45/2691, and applications for prospecting licences P45/2657,
P45/2658 and P45/2659. These tenements surround the lease containing
the Kintyre uranium deposit, jointly owned by Cameco and Mitsubishi.
Within Mega's ground are geological settings analogous to that of the
Kintyre deposit.  
To view the map associated with this release, please visit the
following link: http://media3.marketwire.com/docs/924833m.pdf  
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.  
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 property development and the fulfillment of
each party's obligations under the Definitive Agreement. 
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: the failure of either party to comply with its
obligations under the Definitive Agreement, risks associated with the
mineral exploration industry generally (including 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), the potential for delays in exploration or
development activities or the completion of feasibility studies;
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. 
Contacts:
Mega Uranium Ltd. - Investor Relations
Richard Patricio
EVP Corporate Affairs
(416) 643-7630
info@megauranium.com
www.megauranium.com
 
 
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