Titan Uranium Inc.

Titan Uranium Inc.

August 11, 2008 16:04 ET

Titan Announces Airborne Survey on Virgin Trend Uranium Project, Makes Corporate Update

SASKATOON, SASKATCHEWAN--(Marketwire - Aug. 11, 2008) - Titan Uranium Inc. ("Titan" or the "Company") (TSX VENTURE:TUE)(FRANKFURT:T4X), a North American generative explorer, is pleased to report that Bell Aerospace has commenced the airborne gravity gradiometer survey on the Company's Virgin Trend uranium project. Japan Oil, Gas and Metals National Corporation (JOGMEC), a prominent Japanese crown corporation, has the option to earn a 50% interest in the Virgin Trend project by funding Cdn $9 million in exploration during the next three years. In May 2008, JOGMEC signed a letter of agreement with Titan to explore the project as an element of its mandate to seek a stable supply of natural resources for Japan.

The south Virgin Trend project is adjacent to Cameco Corp.'s Virgin River project which hosts the Centennial uranium deposit. The north part of the project area is adjacent to UEX Corp.'s Riou and Black Lake projects which host the mineralized Platt Creek structure that trends onto Titan's ground.

The airborne gravity gradient is the fourth extensive regional survey carried out on the project since the property was acquired. In 2005, a boulder sampling program was undertaken over the property. Results identified the southern part of the property as having anomalous boron and clays in the sandstone boulders, features typically seen in the vicinity of unconformity type uranium mineralization. In 2006, EMpulse Geophysics and Quantec Geosciences completed deep penetrating magneto-telluric (MT) surveys with lines spaced at ten kilometer intervals. These surveys detected probable basement conductors, and in the southern part of the project area, outlined deep sandstone conductors interpreted to be due to clay alteration. In 2007, Fugro Airborne Surveys carried out a Megatem survey over the entire project that detected conductivity deep in the sandstone section that again, was interpreted to be a reflection of clay alteration.

The gravity gradient survey is being flown to detect if there are any significant alteration systems in the sandstone, features typically associated with uranium mineralization. Additionally, it should also detect and trace the position of any significant faults. The regional tectonic zone underlying the project area is interpreted to have vertical offset in excess of 150 meters.

The results of the airborne gravity gradient survey will be integrated with those from the Megatem and MT surveys to provide targets for ground follow up using state of the art deep penetrating electromagnetic systems. The JOGMEC proprietary SQUITEM system is being mobilized to the property and test profiles will be run in August 2008. Results from all the surveys will be used to determine hole location(s) for drilling planned in Q1, 2009.

Titan also announces that the Company has granted a total of 300,000 options to acquire common shares in the capital of Titan to George Duggan, principal of National Media Associates, pursuant to the Company's stock option plan. The options are exercisable into common shares of Titan at a price of $0.225 per share upon vesting on a quarterly basis from the date of the grant. On a 12 month contract with fees for service totaling US$7,000 per month, National Media Associates will provide Titan with editorial and investor relations services, with an emphasis on the United States marketplace.

J. Allan McNutt, P. Geo., M.A.Sc., is Titan's Qualified Person (as defined by National Instrument 43-101) for uranium projects and is responsible for the technical information contained in this release.

About Titan Uranium Inc.

Titan's growth strategy is driven by advancing exploration projects to discovery in the proven Athabasca and prospective Thelon basins. Titan has gained market recognition for its ability to attract strategic partners to participate in exploration on its properties by virtue of its 1.5 million acre land position and technical expertise. Vale Exploration Canada Inc., a wholly-owned subsidiary of Companhia Vale do Rio Doce (VALE), the world's second largest mining company by market capitalization, recently signed an agreement with Titan on its Sand Hill Lake/Rook II project. In addition to the Company's joint venture project with Japan Oil, Gas and Metals National Corporation (JOGMEC), as per above, Titan also has a major joint venture project underway in the Thelon Basin with Mega Uranium Ltd. Additional partnerships are at the planning stage.

In 2007, optionees of Titan properties spent Cdn $5.5 million on exploration programs managed by Titan. Between 2008 and 2012, partners of Titan have the option to expend Cdn $22.5 million in exploration on approximately 900,000 acres of strategically located project areas in the Athabasca and Thelon basins to earn a portion of Titan's interest in these areas.

Titan is well-financed and ideally positioned to emerge as a pre-eminent explorer in the uranium industry. Based in Saskatoon, Saskatchewan, Titan boasts proven senior leadership, a highly experienced technical team and a significant land position in Canada's world-class uranium districts.


Brian A. Reilly, President

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Titan Uranium, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Titan Uranium's expectations are exploration risks detailed herein and from time to time in the filings made by Titan Uranium with securities regulators.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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