Japan Oil, Gas and Metals National Corporation

On May 23, 2008 Japan Oil, Gas and Metals National Corporation (JOGMEC) and Titan signed a Letter of Agreement wherein JOGMEC can acquire an undivided 50% working interest in Titan’s Virgin Trend Project by funding Cdn$ 9 million in exploration programs managed by Titan. The Letter of Agreement calls for annual funding of $3 million in each of the first three years. Vesting of a 50% working interest will be at JOGMEC’s election after funding a total of $9 million by the end of the third year of the agreement. Upon completion of the earn-in phase, JOGMEC and Titan will form a joint venture with each party holding a 50% participating interest in the Virgin Trend Project. Further, JOGMEC has the option to provide an additional $6 million to obtain the exclusive marketing rights of the mineral products of the joint venture for a 10-year period from first commercial production. Contributions in kind to be provided by JOGMEC for the Virgin Trend Project include technical assistance utilizing a highly innovative and extraordinarily sensitive deep-penetrating electromagnetic geophysical system developed by JOGMEC. This technology has been successfully applied in other geological environments.

On November 12, 2008 JOGMEC and Titan signed a letter agreement in which JOGMEC can acquire an undivided 50% working interest in Titan’s Border Block Project by funding Cdn $6 million in uranium exploration programs managed by Titan. Under the agreement, JOGMEC committed to funding Cdn $1 million in exploration programs managed by Titan in the first year and may elect to fund a further Cdn $5 million over the subsequent three years of the agreement to acquire an undivided 50% ownership interest in the project. Upon completion of the earn-in phase, JOGMEC and Titan will from a joint venture with each party holding a 50% interest in the Border Block Project. Furthermore, JOGMEC has the option to provide an additional Cdn $6 million to obtain the exclusive marketing rights of the mineral products of the joint venture for a 10-year period from first commercial production. The Border Block Project comprises 18 claims, located in the southwest portion of the uranium-rich Athabasca Basin and includes the Maybelle River, Gartner Lake, King and Castle South Extension properties.

JOGMEC has the option to expend Cdn $15 million on the Border Block and Virgin Trend uranium exploration projects managed by Titan between 2008 and 2011. JOGMEC is a prominent Japanese corporation funded by Japan’s national and municipal governments, as well as by private-sector corporations, with a global mandate to seek a stable supply of natural resources for Japan. JOGMEC reported assets of US $7.3 billion and ordinary revenues of +US $1 billion for the fiscal year ended March 31, 2007.

http://www.jogmec.go.jp/english/inde...

Vale Exploration Canada Inc.

On April 11, 2008, Titan signed a Letter of Agreement with Vale Exploration Canada Inc. (VEC). Under the agreement, VEC has committed to funding Cdn $2 million in exploration programs managed by Titan in the first year and may elect to fund a further Cdn $10 million over the subsequent four years of the agreement to acquire an undivided 60% ownership interest in Titan’s Sand Hill/Rook II Project, located in the south-central portion of the uranium-rich Athabasca Basin.

Vale Exploration Canada Inc. is a wholly-owned subsidiary of Companhia Vale do Rio Doce (Vale) (NYSE: RIO), the world’s second largest mining company by market capitalization with its headquarters in Brazil. Vale reported revenues of US $33.1 billion and net earnings of US $11.8 billion as of December 31, 2007. Vale is committed to the pursuit of sustainable growth by operating with respect for the natural environment and being an ethically and socially responsible company.

http://www.vale.com/vale_us/cgi/cgil...

Mega Uranium Ltd.

On February 26th, 2007, Mega Uranium Ltd. and Titan entered into a binding Letter of Intent. According to the Letter of Intent, Mega can acquire an option to earn a 51% legal and beneficial interest in Titan's entire leasehold land position in the Thelon Basin in the Nunavut Territory, Canada with a view to create a joint venture partnership on future exploration and exploitation of uranium assets in the Thelon Basin. In order to earn the interest, Mega has committed to expend an aggregate of Cdn $5 million on the properties on or before December 31, 2008 on exploration work programs.

Mega is a Canadian mineral resources company with a focus on uranium projects. It has uranium resources in Australia and uranium exploration projects in Australia, Argentina, Bolivia, Colombia, Mongolia, Canada and Cameroon. In addition, it has interests in base and precious minerals exploration properties in Canada and Latin America and a copper-nickel exploration project in Guinea, West Africa. Mega reported assets of Cdn $592 million and ordinary revenues of Cdn $10.6 million for the fiscal year ended September 30, 2007.

http://www.megauranium.com/main/