Uranium Mineralization Discovered in Bedrock on Titan's Thelon Project

Uranium Mineralization Discovered in Bedrock on Titan's Thelon Project Saskatoon, Sask., December 1, 2006 - Titan Uranium Inc. (TSXV: TUE, TUE.WT, TUE.WT.A) is pleased to announce that significant uranium values were intersected in bedrock on its Thelon p

Uranium Mineralization Discovered in Bedrock on Titan's Thelon Project Saskatoon, Sask., December 1, 2006 - Titan Uranium Inc. (TSXV: TUE, TUE.WT, TUE.WT.A) is pleased to announce that significant uranium values were intersected in bedrock on its Thelon project in Nunavut as a result of the Titan's 2006 drill program.

Historic work on the Company's properties located approximately 150 kilometers northwest of Baker Lake had identified a number of mineralized boulder trains, many returning assays in the 5 to 35% U3O8 range. Titan's 2006 program focused on identifying the bedrock source for at least one of these trains.

Titan's 2006 drill program focused on two of the Company's seven properties. Five holes were drilled on the RAD lease/claims and two holes were completed on the R-22 property. Collar information is provided in the ensuing table. Locations and descriptions of these properties, the RAD and R22, are available from the Company's Qualifying Report as filed with SEDAR and available on Titan's website.

Significantly, the assays from drill hole RAD-06-05 confirmed the presence of uranium values in bedrock. Collared up-ice from a mineralized boulder train in the Outcrop 6 area, this vertical hole encountered several intervals containing visible uranium mineralization in bedrock. Hosted within a massive pink sandstone (Oora Lake Formation), pitchblende mineralization occurs as fracture fill.

Most of the holes on the RAD property intersected silicified feldspathic sandstone interpreted to be the Itza Formation. Intense silicification and anomalously low uranium values define a depleted alteration halo at the apex of the RAD boulder train. The source of the RAD lease uraniferous boulder train was not identified in the widely spaced, phase one drill holes. Additional infill holes will be included in the 2007 program.

As tabulated below, these assays establish the critical link between high grade boulder trains identified in past prospecting programs and the basement rock types at the head of the train that are interpreted to be its source.

(Assaying was performed by the Saskatchewan Research Council in Saskatoon using the ICP6.3 Total Digestion method for drill cores and ICP6.3 Partial Digestion for boulder/chip samples. All results were reported in parts per million uranium. Factor to convert U (ppm) to % U3O8 is 1.179 x 10-4.)

"These results provide a definitive link between the high grade boulder trains discovered by past prospecting programs and the underlying basement rock types. Our emphasis is now on delineating this bedrock source" states Phil Olson, Titan's CEO and President.

Drilling on Titan's R-22 property included two holes that both intersected complexly interbedded feldspathic sandstones and graphitic mudstones with uranium values in the 8 to 10 parts per million (ppm) range, spiking as high as 96 ppm over 0.3 metres near the top of hole R22-06-02. These geochemically anomalous uranium values are considered significant and warrant follow-up drilling.

Extraordinary mechanical problems and inclement weather forced the premature suspension of this program with only seven (589 metres) out a planned twenty-two holes (3000 metres) being completed. However, as a result of the foreshortened diamond drill program, Titan crews successfully covered all of its Thelon claims with ground prospecting. This work resulted in the discovery of several new boulder trains on four of its properties.

"In summary, we are extremely encouraged by what was uncovered this season and eagerly anticipate the results of the next phase of work on the properties" concludes Titan's Chairman Arni Johannson.

Titan is currently involved in the 2007 permitting process that will see the remainder of its 2006 drill program completed with additional holes slated for some of its new discoveries and expanded to include new targets identified by prospecting. Further information may be obtained from Titan's website (www.TitanUranium.com) or by contacting Chris Holland directly at info@TitanUranium.com.

Technical information provided in this press release has been reviewed by Philip E. Olson, P. Geo., a Qualified Person as prescribed by National Instrument 43-101.

ON BEHALF OF TITAN URANIUM INC.
"Philip E. Olson"
President and CEO

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
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.