Titan starts 1,000 m drill program at Border Block

2009-02-05 12:22 ET - News Release

Mr. Brian Reilly reports

TITAN URANIUM INC. ANNOUNCES BORDER BLOCK PROJECT DRILLING AND EXPLORATION UPDATE

Titan Uranium Inc.'s 2009 drilling program is under way on the Border Block project.

The Border Block project is the subject of a letter of agreement between Titan and Japan Oil, Gas and Metals National Corporation (JOGMEC) wherein JOGMEC can earn a 50-per-cent undivided interest in the project by funding $6-million in exploration over four years.

JOGMEC accelerated funding on the project by providing an additional $500,000 for a total of $1.5-million during the first earn-in period ending March 31, 2009.

Aggressive Drilling Inc. completed mobilization of the drilling crew and equipment to the Border Block project site and phase two drilling commenced on Feb. 4, 2009. A minimum of 1,000 metres of diamond drilling is planned on the project, along with additional ground geophysical surveys to be completed in the first quarter of 2009.

The first phase of drilling was carried out in November and December, 2008, whereby Titan completed 1,103 metres of drilling in four holes. Two of these holes have yet to be completed. Drill hole GL-08-01 was drilled to its target depth of 215 metres and encountered bleached sandstone and basement rocks. Anomalous values of the pathfinder element boron (103 to 232 parts per million) were exhibited in the basement rocks from 103 to 180 metres. A narrow fracture located at 141 metres had values of 2.62 ppm uranium and 939 ppm boron. Subsequent drill holes encountered poor ground conditions. Hole GL-08-02 was drilled to 305 metres but did not reach the targeted depth. This hole was recollared and is currently being drilled as hole GL-08-02A. Hole GL-08-03 was stopped at 443 metres in bleached and fractured sandstone rocks. Anomalous boron values (173 to 412 parts per million) from composite samples were recorded over the bottom 43 metres of the hole. Phase one drilling was suspended at the Christmas break and phase two drilling will commence with the completion of drill holes GL-08-02A and GL-08-03.

The Border Block project is located in the southwest area of the Athabasca Basin, near the Alberta border and comprises the Maybelle River, Gartner Lake, King and Castle south extension properties. The project (76,354 hectares or 188,675 acres) covers an area where historic exploration data identified favourable basement rocks capable of hosting uranium mineralization. The basement rocks are thought to be correlative with those found on the adjacent AREVA/UEX Corp.'s Shea Creek project which hosts significant uranium mineralization in the Anne, Collette and Kianna deposits.

Allan McNutt, PGeo, MASc, is Titan's qualified person (as defined by National Instrument 43-101) for uranium projects and is responsible for the technical information contained in this release.

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