SASKATOON, Oct. 6 /CNW/ - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is pleased to provide this update on progress with the environmental baseline and engineering studies at its Sheep Mountain uranium project in Fremont County, Wyoming.
Field work for the baseline data collection for cultural resources, wildlife, and vegetation and soils has been essentially completed. Data collection continues on studies related to surface water, groundwater, radiological characterization, air quality and meteorology. No significant environmental issues have been identified at this stage.
Geotechnical field work and engineering design for site characterization are also underway. This work will allow decisions to be made on the siting of the heap leach pads, mine waste spoil heaps, the central processing facility, the declines to access the underground mine, and associated mine offices and support buildings.
The above information was presented to US Nuclear Regulatory Commission (NRC) staff at a regular quarterly meeting in Rockville, Maryland in September. All work is on schedule and budget for the preparation and submission of a Source Material License Application to the NRC in the second quarter of 2011.
Chris M. Healey, a Professional Geologist licensed in the State of Wyoming and Chief Operating Officer 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 U(3)O(8) (6,393,000 tons
at 0.111% e U(3)O(8) (see Titan press release April 12, 2010).
- 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
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.
Brian A. Reilly, 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: For further information: Investor Relations, Titan Uranium Inc., Phone: 306-651-2405, or 604-925-1810, Facsimile: 306-651-5105, Email: email@example.com, www.titanuranium.com