Titan Uranium Inc. Announces the Appointment of Don Ching as Non-Executive Chairman
09 September 2009 - 6:47AM
Marketwired
Titan Uranium Inc. ("Titan" or the "Company") (TSX VENTURE:
TUE)(FRANKFURT: T4X), a North American exploration and development
company, is pleased to announce the appointment of Mr. Don Ching as
Non-Executive Chairman of the Board of Directors.
Mr. Ching is a retired businessman who sits as a corporate board
member for several organizations and businesses and acts as a
consultant on various projects. Mr. Ching was the President and
Chief Executive Officer of AREVA Resources Canada Inc. from
January, 2005 to December, 2007 and prior to that was the President
and Chief Executive Officer of SaskTel. Mr. Ching has also served
as the President of Crown Investment Corporation, as a managing
partner in the law firm of Mitchell Taylor Romanow Ching (now
Woloshyn & Company) and as Executive Vice President of the
Potash Corporation of Saskatchewan. Mr. Ching is a member of the
Saskatchewan Bar Association.
Brian Reilly, Titan's President and CEO, commented, "Don brings
tremendous business acumen and leadership to the Titan Board. His
extensive experience in the private and public sector will add a
valuable dimension to the company as Titan pursues its growth
strategy in Canada and the USA. We are very pleased to have Don
join the Titan team."
The Company also wishes to announce that pursuant to the
Company's Stock Option Plan, it has granted incentive stock options
to its officers, directors, employees and consultants to purchase
up to an aggregate of 3,552,500 common shares in the capital stock
of Titan Uranium Inc., exercisable for a period of three years, at
a price of $0.265 per share. 75,000 of the options are granted to
Calico Management Corp. (Calico). Calico has been retained by the
Company to provide investor relations services pursuant to a
contract ending December 31, 2009 for fees totaling $3,000 per
month.
About Titan Uranium Inc.
Titan recently announced a business combination with Uranium
Power Corp. (Titan Uranium Inc. PR, August 04, 2009) which adds a
number of highly prospective properties, mainly in the United
States, to Titan's portfolio. Prime among these is a 100% interest
in the Sheep Mountain deposit which has an NI 43-101 compliant
Inferred Resource of:
4,560,000 tons, average grade of 0.17% eU3O8, (15.6 million lbs
contained U3O8).
This resource estimate was reported in a technical report on the
Sheep Mountain uranium project, prepared by Scott Wilson Roscoe
Postle Associates Inc. and authored by C. Stewart Wallis, P. Geo.
dated October 10, 2006. Additional information including the
estimation method and cut-off grade may be found in the report
which was filed on SEDAR on October 12, 2006. The Sheep Mountain
deposit has a current Mine Permit issued by the Wyoming Department
of Environmental Quality. Several minor amendments to this permit
will be required to reopen the mine.
Titan has gained market recognition for its ability to attract
strategic partners to participate in exploration on its properties
in Canada by virtue of its 1.6 million acre land position and its
technical expertise. The option agreement participants of Titan
include: Japan Oil, Gas and Metals National Corporation (JOGMEC),
Vale Exploration Canada Inc. (VEC), and Mega Uranium Ltd. These
optionees are expected to contribute $4.7 million in exploration
programs managed by Titan in 2009. Titan is well-financed and
ideally positioned to emerge as a pre-eminent company 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
604-921-1810 306-651-5105 (FAX) ir@titanuranium.com
www.titanuranium.com
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