Titan Uranium Options Sand Hill East Property, Athabasca Basin, Sk
Aug 19th, 2011 - Vancouver, British Columbia - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is pleased to announce that it has entered into an option agreement with Eagle Trail Properties and Rainmaker Mining Corp (TSX-V:RMG) whereby Titan can earn a 50% interest in the property by spending a cumulative $500,000 on exploration work by October 30, 2014.The property is located immediately to the east of Titan's 100% owned Sand Hill Lake property. The property includes 5 claims for a total of 10,910 hectares. The current owners are Eagle Trail Properties Inc (75%) and Rainmaker Mining Corp (25%).
The terms require Titan to carry out exploration work on the following schedule;
-$175,000 by October 30, 2012
-$175,000 by October 30, 2013 and
-$150,000 by October 30, 2014.
During the option period, Titan will be the project operator.
The Sand Hill East property is located in the south-central part of the Athabasca basin within the NNE-SSW trending Virgin River Shear Zone. The property is bounded on the west by Titan's Sand Hill Lake project and to the east by Cameco Corp./Areva Resources Inc./ Formation Metals Inc. Virgin River Project hosting the Centennial deposit, where high grade-thickness intervals reported to date include hole VR-031W3 which intersected 8.78% U3O8 over 33.9 metres (Formation Metals Inc. PR, May 30, 2011). At least three strong EM conductors have been located by airborne electromagnetic surveys flown over these claims one of which (the C-Conductor) can be traced from Titan's Sand Hill Lake property northward where little or limited drilling has been recorded.
Chris M. Healey. President of Titan commented; “This acquisition is an important add-on to our highly prospective Sand Hill Lake property. Conductive trends on Sand Hill Lake extend on to this property and on towards adjacent properties with known uranium mineralization.“
ON BEHALF OF TITAN URANIUM INC.
Chris M. Healey, President & CEO
For further information, please contact:
Investor Relations
Titan Uranium Inc.
Phone: 604-925-1810
Facsimile: 604-921-1898
Email: ir@titanuranium.com
www.titanuranium.com
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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