Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is
pleased to announce that a Technical Report updating the Indicated Resource
at its Sheep Mountain project, has been filed on SEDAR. The report
shows a significant increase to the Mineral Resource at the company's 100
percent owned Sheep Mountain uranium project in Fremont County, Wyoming. The
new estimate of Indicated Mineral Resources totals approximately 30.4 million
lbs eU3O8 (13,841,000 tons averaging 0.110% eU3O8).
This represents an increase of 14.4 million lbs, a 90.0% increase from the
mineral resources previously reported on March 4, 2010.
The report conforms to the Standards of Disclosure for Mineral
Properties as stated in National Instrument 43-101. The estimate was
completed by BRS Inc., of Riverton Wyoming. Doug Beahm
P.E, P.G., president of BRS, is the independent qualified person responsible
for this estimate, and is the lead author for the technical report.
Most of the additional resources reported here are directly adjacent
to the planned Congo open pit and will be available for open pit
mining. A review of economics of these resources will be incorporated
into an updated Preliminary Feasibility Study to be completed in the 2nd
half of 2011.
Titan is currently at an advanced stage in the preparation of an
application to the US Nuclear Regulatory Commission, for a Source Material
License. It is anticipated that the application will be submitted early
in the 3rd Quarter 2011. In addition, Titan plans to commence
dewatering of the old mine workings early in the 3rd Quarter
2011.Chris M. Healey, a Professional Geologist licensed in the State of
Wyoming, President and CEO for Titan, is the Qualified Person responsible for
the technical content of 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 indicated resource of 30.4 million lbs eU3O8
(13,841,000 tons averaging 0.110% eU3O8) (see
Titan press release January 20, 2011).
• Exploration: The goal is to discover world
class uranium deposits by exploring over 1.0M 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.
Chris M. Healey, President
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.
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.
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