SASKATOON, Jan. 26 /CNW/ - Titan Uranium Inc (TSX-V:TUE, FSE:T4X) is pleased to announce that Mr. Sheldon Inwentash has been appointed to
its Board of Directors and will act as Chairman to the Board. Titan's
Board has also confirmed Mr. Chris Healey's appointment as President
and CEO, and as a Director of the company.
Mr. Inwentash is the Chairman and CEO of Pinetree Capital Ltd., a
Canadian investment company with a large portfolio
of investments primarily in the junior resource and energy sectors,
with extensive uranium holdings. Mr. Inwentash, a Chartered Accountant,
also serves as a Director and Officer for several other TSX and TSX
Venture Exchange listed companies, including Mega Uranium Ltd. and
Brownstone Energy Inc. He brings more than 25 years of experience in
the investment industry and a deep understanding of progressive
investment and financial management strategies. Mr. Inwentash was an
Ontario finalist for the 2007 Ernst & Young Entrepreneur of the Year
Mr. Healey has over 40 years experience in the natural resources
industry, specializing in uranium exploration and extraction. Mr.
Healey has served as Titan's Chief Operating Officer since August of
2009, and was named interim President and CEO effective January 1,
2011. Prior to joining Titan, he was President and Director of Uranium
Power Corporation and Chief Operating Officer and Director of Cue
Resources Ltd. Mr. Healey is a former senior employee of Cameco
Corporation, where he managed its US operations and was also involved
in the discovery and development of two of the largest high grade
uranium deposits in the world. Mr. Healey is a past president of the
Geological Society of the Canadian Institute of Mining, Metallurgy and
Mr. Donald Ching has resigned from his position as Chairman and Director
effective January 25, 2011. Titan's Board of Directors would like to
thank Mr. Ching for his contributions to the company and wish him all
the best in his future endeavors.
The company has also granted a total of 3,150,000 options to acquire
common shares in the capital of Titan to certain directors, officers,
consultants and employees of the Company, pursuant to the Company's
stock option plan. The options are exercisable into common shares of
Titan at a price of $0.59 per share, vesting immediately and expiring
five years from the grant date.
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.