Titan Uranium Advances Permitting at Sheep Mountain Project, Wyoming
SASKATOON, SASKATCHEWAN -- (Marketwire) -- 06/15/10 -- Titan Uranium Inc. (TSX VENTURE: TUE)(FRANKFURT: T4X) is pleased to announce that it has commenced permitting and licencing at its 100% owned Sheep Mountain uranium project in Fremont County, Wyoming. Baseline environmental studies have been initiated in support of application for a Source Material Licence with the US Nuclear Regulatory Commission (NRC). In addition, a revision to the existing Wyoming Department of Environmental Quality (WDEQ) Mine Permit will be completed, as well as a Plan of Operations for the US Bureau of Land Management (BLM).
BRS Inc. of Riverton WY will be the lead consultant for the WDEQ and BLM applications. Wright Environmental Services of Fort Collins CO will lead the NRC application. Local and regional contractors will assist in the gathering of environmental baseline and geotechnical data.
Field data acquisition is underway, and the project is on target for a projected second quarter of 2011 submission of the NRC application. The WDEQ and BLM submissions are expected to be completed at the same time.
Brian Reilly, President and CEO of Titan, commented, 'The licensing and permitting process is the next step for our Sheep Mountain project following the recently completed Preliminary Feasibility Study. We have established a strong rapport with the various regulatory agencies and contracted experienced consultants to conduct the field work. Our objective is to submit high-quality applications and advance the project to production.'
The following baseline environmental surveys and studies will be conducted:
-- Radiological background characterization;
-- Wildlife and vegetation surveys;
-- Meteorological data collection;
-- Ground and surface water assessments, including the installation of
additional monitor wells;
-- Air quality characterization and monitoring;
-- Cultural resource inventory;
-- Development of analytical standard suites and laboratory protocols;
-- Geotechnical characterizations for siting the heap leach pads and
central processing facility;
-- Column leach testing to develop a final flow diagram for the heap leach
and central processing plant design; and
-- Development of a detailed mine operation and reclamation plan.
Chris M. Healey, a Professional Geologist licensed in the State of Wyoming and Chief Operating Officer 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 probable reserve of 14.2M lbs. of U3O8 (6,393,000 tons at 0.111% e U3O8) (see April 12, 2010 release).
- 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
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
Titan Uranium Inc.
Investor Relations
306-651-2405 or 604-925-1810
306-651-5105 (FAX)
ir@titanuranium.com
www.titanuranium.com