SASKATOON, Feb. 3 /CNW/ - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) reports that it has entered into an agreement with Energy Fuels Inc
(EFR) whereby EFR will acquire the ten Hollie Claims (Green River North
project), in Emery County, UT, for $US 1,200,000 payable in EFR stock
(1,046,067 shares of EFR common stock, based on the volume weighted
average closing price for the five trading days ending on, and
including, January 11, 2011).
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
indicated resource of 30.4 million lbs eU3O8 (13,841,000 tons averaging 0.110% eU3O8) (see Titan press release January 20, 2011).
• Exploration: The goal is to discover world class uranium deposits by exploring over
1.5M 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.
SOURCE Titan Uranium Inc.
For further information:
Titan Uranium Inc.