U3O8 Corp to Acquire Mega Uranium's South American Assets to Create A Dominant South American-Focused Uranium Exploration Company

ENPNewswire-18 February 2010-U3O8 Corp To Acquire Mega Uranium's South American Assets To Create A Dominant South American-Focused Uranium Exploration Company(C)2010 ENPublishing - http://www.enpublishing.co.uk Release date- 17022010 - Toronto, Ontario - U3O8 Corp.(TSX Venture: UWE) and Mega Uranium Ltd.(TSX: MGA)('Mega') are pleased to announce that they have entered into a definitive agreement under which U3O8 Corp. will acquire all of Mega's South American uranium properties and $4 million in cash in exchange for 30,564,858 common shares of U3O8 Corp. (the 'U3O8 Shares'). The acquisition will provide U3O8 Corp. with an expanded portfolio of projects at various stages, from National Instrument 43-101 ('NI 43-101') compliant resources in Guyana, to significant historical resources in Colombia and near-resource and discovery potential in Argentina. U3O8 Corp. will emerge as a well funded dominant explorer with a strong platform for growth in South America - one of the world's promising new frontiers for uranium exploration and development.