In a statement released Monday, Mustaine, 57, said his diagnosis is "clearly something to be respected and faced head on -- but I've faced obstacles before. I'm working closely with my doctors, and we've mapped out a treatment plan which they feel has a 90 percent success rate. Treatment has already begun."

Megadeth has cancelled its coming tour of several countries to celebrate the band's 35th anniversary.

Mustaine founded Megadeath in 1984 after being ousted from Metallica in 1983.

The thrash metal band has released 15 records, including the platinum-selling "Countdown to Extinction".

Australian Associated Press