Toronto,Canada (March 6, 2015) - Mega Uranium Ltd. (MGA: TSX) ("Mega" or the "Company") announces that its board of directors has completed areview and rationalization process aimed at increasingefficiencies and reducing costs within its senior management team, resulting inthe promotion of Mr. Richard Patricio to the role of Chief Executive Officerand President of Mega.
Messrs. Sheldon Inwentash and Stewart Taylor, the previous ChiefExecutive Officer and President, respectively, have resigned from those executivepositions allowing for Mr. Patricio's appointment, but remaining in their rolesas Chair and director of the Company, respectively.
Mr. Patricio has been the Executive Vice President of Mega since2009, having initially joined the Company in 2005. Under the collective direction of Messrs.Inwentash and Taylor, the Company has grown its portfolio of uranium-focusedassets to its current asset base, which includes direct ownership interests ofseveral projects in Australia and strategic equity positions in two explorationand development companies, Toro Energy Ltd. and NexGen Energy Ltd. Mr. Patricio has been an integral part of thegrowth strategy and implementation of strategies aimed at creating and preservingvalue for Mega shareholders during these challenging few years. He sits on the board of directors of severaluranium companies including Energy Fuels, Toro Energy, NexGen Energy, U308Corp. and Macusani Yellowcake Inc.
Mr. Inwentash, Chairman, stated, "Richard has demonstrated hisability to steer Mega through very challenging times. I look forward to continuing in my role asChair and assisting Mega in its growth."
Mr. Patricio commented, "I thank Sheldon and Stewart for theirefforts in helping Mega become what it is today. We think that Mega is poised to benefit fromthe renewed interest in uranium in this post-Fukushima nuclear world and wehave focused the last several years on rationalizing our direct costs to ensureMega has the stamina and the quality of assets to benefit from what industryexperts suggest will be a promising uranium price environment in the mid andlonger term. The recent news of twoadditional Japanese restart approvals, combined with full resumption of theChinese build-out, and new reactor build plans being set in many globalmarkets, has led many industry analysts to increase their mid- and long-termtarget prices for uranium. We thinkMega's is in a strong position to benefit from its collection of strategicuranium assets and we continue to strive for additional ways to create valuefor our shareholders."
ABOUTMEGA URANIUMMega Uranium Ltd. is a Toronto-based mineralresources company with a focus on uranium properties in Australia and Canada. Furtherinformation on Mega can be found on the company's website at www.megauranium.com.
Forfurther information please contact:
Investor Relations Mega Uranium Ltd.Richard PatricioChief Executive Officer and PresidentT: (416) 643-7630info@megauranium.comwww.megauranium.com