Athabasca & Thelon basins
Junior Explorer of Choice for Uranium in Canada.
Message: Titan Uranium Inc. Announces Corporate Update
| May 19, 2009 |
| Titan Uranium Inc. Announces Corporate Update |
| SASKATOON, SASKATCHEWAN--(Marketwire - May 19, 2009) - Titan Uranium Inc. ("Titan" or the "Company") (TSX VENTURE:TUE)(FRANKFURT:T4X), a North American generative explorer, would like to announce that Mr. Rodney Koch, B.Sc., P. Geo., will join Titan as Vice President, Exploration. Mr. Koch has over 35 years of experience in exploration and mining and brings an extensive background in geophysics to the Titan team. Prior to joining Titan, Mr. Koch was the Chief Geophysicist for AREVA Resources Canada Inc. He also worked for the Saskatchewan Mining Development Corp. (now Cameco Corp.). Mr. Koch was involved in both the Shea Creek and Kiggavik uranium discoveries in the Athabasca and Thelon Basins, respectively. Mr. Koch will join Titan on June 1, 2009. Mr. Allan McNutt, M.A.Sc., P.Geo., Titan's former Vice President Exploration will become Vice President, Corporate Acquisitions. This newly created position reflects Titan's focus on pursuing merger and acquisition opportunities as part of its growth strategy. Mr. McNutt has over 30 years experience in the resource sector and has worked with Dejour Enterprises Ltd., Rio Algom Exploration Inc. and Saskatchewan Mining Development Corp. He was involved in the delineation of the Dawn Lake uranium deposits and the discovery of the Cigar Lake deposit. Mr. McNutt is a "Qualified Person" as defined by National Instrument 43-101. Mr. Kelly McShane, B.Comm, M.P.Acc., C.A. has been promoted to Chief Financial Officer and Corporate Secretary. Mr. McShane is a Chartered Accountant and holds a Bachelor of Commerce degree and a Master of Professional Accounting degree from the University of Saskatchewan. He has served as Titan's Controller for the past two years. Prior to joining Titan, Mr. McShane provided audit, tax and financial advisory services while working with national and regional Chartered Accounting firms. Titan would like to thank out-going Chief Financial Officer and Corporate Secretary Mr. John Povhe for his contribution to the company and wishes him all the best in his future endeavors. About Titan Uranium Inc. Titan's growth strategy is driven by advancing exploration projects to discovery in the proven Athabasca and prospective Thelon basins. Titan has gained market recognition for its ability to attract strategic partners to participate in exploration on its properties by virtue of its 1.6 million acre land position and technical expertise. In 2008, Japan Oil, Gas and Metals National Corporation (JOGMEC) signed two letters of agreement with Titan to explore the Company's Virgin Trend and Border Block projects as an element of its mandate to seek a stable supply of natural resources for Japan. In April 2008, Vale Exploration Canada Inc. (VEC), a wholly-owned subsidiary of Companhia Vale do Rio Doce (VALE), the world's second largest mining company by market capitalization, signed an agreement with Titan on the Sand Hill Lake project. Titan also has a major joint venture project underway in the Thelon Basin with Mega Uranium Ltd. Additional partnerships are at the planning stage. Partners of Titan have the option to expend Cdn $22.5 million in exploration programs managed by Titan between 2009 and 2012. The partners can earn a portion of Titan's interest in these strategically located properties in the Athabasca and Thelon basins. Optionees of Titan properties spent Cdn $6 million on exploration programs managed by Titan in 2008 and will contribute Cdn $4.7 million in 2009. Recently, Titan entered into a definitive agreement to acquire Uranium Power Corp. which has significant uranium assets in the western USA (Titan Uranium Inc. PR, May 8, 2009). Titan is well-financed and ideally positioned to emerge as a pre-eminent exploration and development company in the uranium industry. Based in Saskatoon, Saskatchewan, Titan boasts proven senior leadership and a highly experienced technical team. ON BEHALF OF TITAN URANIUM INC. Brian A. Reilly, President |
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