Saskatoon, Saskatchewan - May 4, 2006 - Titan Uranium Incorporated (TSX.V: TUE, TUE.WT, TUE.WT.A), announced today that the second phase of the deep penetrating aeromagnetic and Megatem II electromagnetic surveys are presently underway over their Athabasca Basin properties.
This phase involves approximately 5,300 line kilometers of surveying on three of the Company's properties that frame the southwest margin of the Athabasca Basin and will be flown over the infill segments of Titan's Castle North and South properties. The survey will also allow initial coverage of the Company's King and Rook properties.
Fugro Airborne Survey is conducting this program. Their work has demonstrated the ability to outline and refine magnetic and electromagnetic basement conductors within the aeromagnetic trend that hosts the UEX Corp. and COGEMA's Shea Creek deposit. Drilling at Shea Creek in July of 2005 returned values of 27.4% U3O8 over 8.8 meters. Titan expects these surveys will identify a number of targets that will require diamond drill follow-up.
The first phase was flown in December of 2005 and involved 900 line kilometers in two segments directly over the Castle North and Castle South claims that cover the projected extensions of the Shea Creek trend. Presently, Titan has one diamond drill actively working on its Castle properties (see press release March 1, 2006). Permits for the 2006 fiscal year have been received for the Castle properties from the province's regulatory authorities and this drilling program should continue without interruption until mid-summer.
About Titan Uranium
Titan Uranium Incorporated is a Canadian based uranium exploration company with a total of 16 uranium properties located in Canada's two most prolific uranium exploration areas: the Athabasca Basin and the Thelon Basin. The Company's management team has extensive experience in uranium exploration and discovery. With designs on finding a world-class uranium deposit, Titan will continue to build shareholder wealth by acquiring uranium prospects with high-grade, world-class potential.
ON BEHALF OF TITAN URANIUM INC.
"Phil Olson"
President
For further information contact:
Chris Holland
Second Floor, 157 Chadwick Court, North Vancouver, British Columbia
Canada V7M 3K2
Telephone: (604) 988-4824
Facsimile: (604) 988-5327
Email: info@titanuranium.com
www.titanuranium.com
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Titan does not assume the obligation to update any forward-looking statement. |
