SASKATOON, SASKATCHEWAN--(Marketwire - July 22, 2010) - Titan Uranium Inc. ("Titan" or the "Company") (TSX VENTURE:TUE)(FRANKFURT:T4X) is pleased to announce that the Company's Summer 2010 drilling program is now underway on the Border Block project. The Border Block project is the subject of a Letter of Agreement between Titan and Japan Oil, Gas and Metals National Corporation (JOGMEC) wherein JOGMEC can earn a 50% undivided interest in the project by funding Cdn $6 million in exploration over four years (see Titan press release November 12, 2008).
Aggressive Drilling Inc. completed mobilization of the drilling crew and equipment to the Border Block project site and the drill campaign commenced July 22, 2010. The planned program consists of approximately 1,500 metres of diamond drilling to test prospective targets identified by recently completed (Spring 2010) SQUID Time Domain ElectroMagnetic (TDEM) and D.C. Resistivity surveys. D.C. Resistivity is the geophysical technique of choice in the Athabasca Basin due to its ability to image hydrothermal alteration systems, which form resistivity "chimneys", often associated with fault zones and unconformity-type uranium deposits.
The Border Block project is located in the southwest area of the Athabasca Basin, near the Alberta border and comprises the Maybelle River, Gartner Lake, King and Castle South Extension properties. The project (76,354 hectares/188,675 acres) covers an area where historic exploration data identified favourable basement rocks capable of hosting uranium mineralization. The basement rocks are thought to be correlative with those found on the adjacent AREVA/UEX Corp.'s Shea Creek project which hosts significant uranium mineralization in the Anne, Collette and Kianna deposits.
Rodney Koch, P. Geo, Vice-President Exploration Canada for Titan, is the qualified person responsible for the technical information contained in this release.
About Titan Uranium Inc.
Titan Uranium's vision is to be a leading mid-tier North-American uranium exploration, development and mining company. Our mission is to create shareholder value by advancing quality projects to production. Our growth strategy is driven by three elements:
• Development: A pre-feasibility study has been completed at the Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101 compliant probable reserve of 14.2M lbs. of U3O8 (6,393,000 tons at 0.111% e U3O8) (see Titan press release April 12, 2010).
• Exploration: The goal is to discover world class uranium deposits by exploring over 1.5M acres of land in the proven Athabasca and prospective Thelon Basins. Exploration programs are also active in Utah and Wyoming.
• Consolidation: The Company is actively pursuing M & A opportunities and focused on uranium-friendly jurisdictions such as Saskatchewan and Wyoming.
Titan has gained market recognition for its ability to attract strategic partners to participate in the exploration of its properties. Japan Oil, Gas and Metals National Corporation and Mega Uranium Ltd. are partners in current exploration programs managed by Titan.
Titan is well-financed and ideally positioned to emerge as a pre-eminent player in the uranium industry.
ON BEHALF OF TITAN URANIUM INC.
Brian A. Reilly, President
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.