Titan Uranium Commences Drilling on Green River South Project
01 October 2009 - 12:47AM
Marketwired
Titan Uranium Inc. (TSX VENTURE: TUE)(FRANKFURT: T4X) is pleased to
announce that drilling has commenced on a twenty one hole
exploration drilling program (10,000 feet, 3300 meters). The
program is designed to explore a potential new trend for the
on-going evaluation of the Green River South project, Utah. Rotary
drilling is being performed by Caroll Drilling, of Moab, UT.
Downhole geophysical logging services are being provided by Hawkins
Logging of Cody, WY.
The Green River South property covers over 15,000 acres. The
property has excellent accessibility and is located about 90 miles
by road from the Shootaring Canyon uranium mill currently owned by
Uranium One Inc.
Titan also announces that certain option holders have agreed to
the cancellation of an aggregate of 858,333 options to acquire
common shares in the capital of Titan. The options that were
cancelled had been held by various directors, officers and
employees, pursuant to the Company's stock option plan, had
exercise prices ranging from $0.44 to $2.02 per share and were set
to expire between July, 2010 and July, 2011.
About Titan Uranium Inc.
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 recently completed a business combination with UPC (Titan
Uranium Inc. PR: August 4, 2009) which adds a number of highly
prospective properties, mainly in the United States, to Titan's
portfolio.
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
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