TORONTO, ONTARIO--(Marketwired - Jan. 17, 2014) - Mega Uranium Ltd. (TSX:MGA) ("Mega") announces that on January 17, 2014, it acquired ownership of 2,759,807 common shares ("Common Shares") of Bayswater Uranium Corporation ("Bayswater"), representing approximately 11.5% of the total issued and outstanding common shares of Bayswater as of January 17, 2014, pursuant to a private transaction.

These transactions were made for investment purposes and Mega could increase or decrease their investment in Bayswater depending on market conditions or any other relevant factor.

Mega Uranium Ltd.

Mega Uranium Ltd. is a Canadian mineral resources company listed on the TSX, with a focus on uranium. Mega has exposure to uranium projects world-wide, both through equity investments in uranium companies, and through its ownership of advanced pre-feasibility stage and exploration projects in Australia, Canada and Cameroon. Further information on Mega can be found on the company's website at www.megauranium.com.

Contact Information:

Mega Uranium Ltd. - Investor Relations
Richard Patricio
Executive Vice President, Corporate Affairs
(416) 643-7630
info@megauranium.com
www.megauranium.com