SASKATOON, Jan. 20 /CNW/ - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is pleased to announce a significant increase to the Mineral Resources
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.

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.

Chris M. Healey, President and CEO for Titan, commented "The on-going
evaluation of the Sheep Mountain property continues to add to the
economic viability of the project. This evaluation will include a
substantial drill program in the summer of 2011 to further delineate
the limits of the Congo pit, and also to explore for additional
resource expansions."

The reported resource 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 will be the lead author of a
technical report which will be filed on SEDAR within 45 days of the
date of this release.

The new additions to the resource base are located immediately adjacent
to the areas of Mineral Resources previously disclosed. All the
reported resources are located within the existing Mine Permit.
Permitting and licensing for the planned open pit/underground mines and
heap leach operation are well underway.

The new estimates are based partially on the results of a 62-hole drill
program (20,120 ft) completed in the area of the Congo Pit in the
summer of 2010, and partially on a re-evaluation of old drill data from
adjacent areas. There has been no change to the previously reported
resource for Sheep 1 and 2, and a minor change to that reported for the
Congo Pit. Three new mineralized areas have been added to the resource,
being the Sun-Mc, North Gap and South Congo zones.

The new estimate of Indicated Mineral Resource is detailed in the
following table:

As with the previously reported Mineral Resource (see Titan release
dated March 4, 2010, this estimate was made at three GT cut-offs for
the Sheep 1 and 2 underground portion of the deposit: 0.30, 0.60 and
0.90 ft% eU3O8. For the Congo Pit, Sun-Mc, North Gap and South Congo zones the three
cut-offs were 0.10, 0.25 and 0.50 ft% eU3O8. The mid-range cut-offs were used as Titan's base case for the previous
resource report. In all cases a minimum grade of 0.03% eU3O8 was applied.

Subsequent to the reporting of the Mineral Resource in March 2010, Titan
completed a Preliminary Feasibility Study (April 12, 2010), which
showed that substantially lower cut-offs met economic criteria for
inclusion in a Mineral Reserve estimation (0.10 ft% and 0.45 ft%
respectively for open pit and underground). In addition, there have
been substantial increases in the spot market price for uranium since
the reporting of that Mineral Reserve (Ux weekly spot price April 5,
2010$41.75, January 17, 2011$68.00). Therefore the low-range cut-offs
of 0.30 ft% and 0.10 ft% eU3O8 have been applied to the underground and open pit portions respectively
to establish a base case for the new mineral resource estimate. Of the
8,948,000 lb increase in the Indicated Resource, 8,940,000 lbs (62.3%)
are attributable to the inclusion of new zones, while 5,428,000 lbs
(37.7%) are attributable to the use of lower cut-offs.

Titan believes that this approach is both realistic and is in accordance
with current acceptable industry practice.

In the underground portion of the deposit, mineralized intercepts were
diluted to a minimum 6 feet thickness (vertical) for compatibility with
planned mining methods. For the open pit, the diluted thickness was 2
feet. Current mine design and methodologies incorporate conventional
approaches that were employed successfully at this site in the past and
are compatible with the current State of Wyoming mine permit.

This estimate was completed using the GT (grade x thickness) contour
method on individual mineralized zones as defined in a full 3D
geological model of the deposit. A total of 16 separate mineralized
zones have been identified and evaluated in the Sheep 1 and 2
underground areas, as well as 17 zones in the Congo Pit area. For the
Sun-Mc area, 12 individual mineralized zones were identified, for the
North Gap - 5 zones, and for the South Congo - 10 zones.

The database for the estimate included 1577 rotary drill holes in the
area of the proposed Congo pit, 485 in the area of the Sheep I and II
underground mine, 704 in the Sun-Mc zone, 1060 in the North Gap zone
and 117 in the South Congo all drilled from surface. Underground mine
development and production records from previous mine workings, as well
as records of underground mapping and sampling were also applied to the
estimate.

The uranium quantities and grades are reported as equivalent U3O8 (eU3O8), as measured by downhole gamma logging. This industry standard
protocol for reporting uranium in sandstone hosted deposits in the USA
has been validated for the Sheep Mountain project by test drilling at
the deposit, as well as by correlation with previous mining activities.
In the fall of 2009, five rotary percussion holes were drilled on the
property to study disequilibrium. Downhole logging of the drill holes
was completed using standard gamma technology as well as a uranium
spectral analysis tool (USAT), both supplied by Century Wireline of
Tulsa OK. The USAT tool gives a direct measurement of uranium content
and therefore allows determination of the equilibrium state of the
uranium mineralization intersected in the hole. A total of 34
intervals were measured, which show an overall moderate positive
disequilibrium (thus the true chemical grade of the mineralization is
slightly higher than the equivalent grade determined by the gamma
tool). The results of the resource estimates were not adjusted to
account for this positive disequilibrium, and can therefore be
considered conservative.

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
probable reserve of 14.2M lbs. of U3O8 (6,393,000 tons at 0.111% e U3O8) (see Titan press release April 12, 2010).

? 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.