Titan Uranium Inc.

Titan Uranium Inc.

November 15, 2005 09:00 ET

Additional Thelon Targets Discovered by Titan Uranium

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2005) - Titan Uranium Inc. (TSX VENTURE:TUE) is pleased to report the results of the 2005 field program on its Thelon Project, north of Aberdeen Lake in Nunavut.

Prospecting and scintillometer traverses on the Company's mineral leases confirmed the position and shape of historically documented boulder trains. The following table highlights the assay results from these previously identified boulder trains as outlined in Titan's NI 43-101 compliant report authored by Paul Nicholls, P. Eng. dated January 12, 2005.

Lowest Highest
Number of Grade Grade
Property Samples u3o8 u3o8
RAD 105 0.0164 % 1.66 %
R-22 91 0.008 % 3.48 %
R-46A greater than 250 Trace 10.20 %
SN-176 greater than 100 Trace 38.00 %
Area 2 22 Trace 1.04 %
Area 4 greater than 2800 Trace 31.00 %
R-75 greater than 100 0.012 % 1.04 %

Further, the Company's exploration team was successful in locating the rock cairns that mark the drill hole locations proposed by preceding work programs. Titan is currently in the permitting process to drill these targets in the summer of 2006.

On Titan's new exploration permit within the Thelon Project area, scintillometer traverses and follow-up laboratory analysis of selected boulders defined two new uraniferous dispersion trains. Interpreted as close to source, samples from these trains returned assay values between 0.005 and 0.492 wt% U3O8 and 0.087 to 0.778 wt% U3O8, respectively. The more westerly train, called Wolverine Point, averaged 0.013 wt% U3O8 for the eight samples taken. The eastern train averaged 0.47 wt% U3O8 for the eleven samples assayed. Follow-up geochemical and geophysical surveys of these trains will be part of the 2006 field program.

"We are very encouraged by these numbers," said Titan President Phil Olson. "Near surface mineralization grading half a percent is significant. These grades are comparable with those from Cogema's Kiggavik deposit to the southeast and more than double the average grade of the world's known uranium deposits. This is a great starting point for a new prospect."

Analytical work on the aforementioned samples was done by the Saskatchewan Research Council in Saskatoon. Results reported are the ICP6.3 Total Digestion. Titan's field program was supervised by P.R.J. Nicholls, P. Eng. The technical information presented in this news release has been reviewed by Phil Olson, P. Geo., Titan's President and a qualified person under National Instrument 43-101.

In other news, Titan has granted stock options to purchase up to 1,415,000 common shares of the Company to 11 individuals. Each option is exercisable to acquire one common share of Titan at a price of $1.00 until November 4, 2010. The options will vest in accordance with Titan's stock option plan.

The issuance and exercise of these options is subject to both disinterested shareholder approval and the approval of the TSX Venture Exchange.


Chadwick Wasilenkoff, Chief Executive Officer

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Titan does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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