Titan Uranium Inc.

Titan Uranium Inc.

August 10, 2006 13:29 ET

Titan Uranium Begins Drilling on Thelon

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 10, 2006) - Titan Uranium Inc. (TSX VENTURE:TUE)(TSX VENTURE:TUE.WT)(TSX VENTURE:TUE.WT.A) is pleased to announce that a diamond drill has been successfully mobilized to its Thelon properties in Nunavut, Canada to begin its scheduled summer 2006 campaign. Operated by Heath & Sherwood Drilling, a division of Cabo Drilling Inc., this portable drill has started a 26-hole program to test numerous highly prospective uranium anomalies within Titan's eight mineral leases. Titan's Thelon properties are 150 km northwest of Baker Lake and 80 km North of Cogema's Kiggavik deposit. The expected 3000-meter drill program is directed at shallow targets to depths of approximately 80 meters.

Previous exploration on the Thelon project has located a range of "syngenetic" uranium mineralization between 0.05% to 2.7% U3O8 over narrow widths. Additionally several boulder trains of unconformity type uranium mineralization have been defined with boulder trains of uranium hosted mineralization of up to 38% U308.

Since mid-June, Titan has had a prospecting crew developing additional targets on the permit and staked claims contiguous with the Company's mineral leases. The Thelon Basin is interpreted as a northern analogue of the very prolific Athabasca Basin of Saskatchewan. Geologically the Thelon project area is located at the unconformity between the Paleoproterozoic Amer Lake Group of metasedimentary rocks and the overlying Mesoproterozoic sandstones of the Thelon Formation. Exploration in similar geological environments has resulted in the discovery of a significant number of high-grade unconformity-vein type uranium deposits in Saskatchewan.

Titan has also shifted its Athabasca drill from the Company's Castle South property to its Castle North property immediately south of the past producing Cluff Lake uranium mine. This drill is testing the northern extension of the Saskatoon Lake Megatem II conductor, the feature that hosts the Shea Creek deposits.

Philip E. Olson, P. Geo. (Sask.) is the Qualified Person responsible for the content and preparation of this release.

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

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