TITAN URANIUM INC. ANNOUNCES PRIVATE PLACEMENT OFFERING

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

SASKATOON, Nov. 10 /CNW/ - Titan Uranium Inc. ("Titan" or the "Company") (TSX-V:TUE, FSE:T4X) is pleased to announce that it is arranging a non-brokered private placement through the offer of units (the "Units") at a price of $0.30 per Unit.  The Company will also conduct a non-brokered flow-through private placement of units (the "FT Units") at a price of $0.45 per FT Unit.

Each Unit will consist of one common share and one common share purchase warrant (each whole common share purchase warrant, a "Warrant").  Each FT Unit will consist of one common share, issued on a flow-through basis, and one-half of one common share purchase warrant (each whole common share purchase warrant, a "FT Warrant").

Each whole Warrant will entitle the holder to purchase one common share for a period of two years following the closing date at an exercise price of $0.45 per common share.  Each whole FT Warrant will entitle the holder to purchase one common share for a period of two years following the closing date at an exercise price of $0.50 per common share.

The Company expects to raise gross aggregate proceeds of up to $5,000,000 consisting of up to $4,000,000 through the sale of the Units and up to $1,000,000 through the sale of the FT Units.  The proceeds of the sale of the Units and FT Units will be used to advance licensing and permitting activities on the Sheep Mountain project, for exploration of the Company's Canadian properties and to provide general working capital.

The Company may pay a finder's fee upon closing of the private placement.

Certain directors and officers of the Company are expected to participate in the offering on the terms set forth above.

The securities issued under the private placement will be subject to a four-month plus one-day hold period from the closing date in accordance with applicable securities laws.

The Company anticipates closing of the Offering as soon as practicable subject to receipt of all necessary regulatory and TSX Venture Exchange approvals.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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 U3O8 (6,393,000 tons at 0.111% eU3O8).
• 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.

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 the timing and success of the offering, the planned use of proceeds of the offering, potential mineralization and reserves, exploration results, and future plans and objectives of Titan, 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's expectations are exploration risks detailed from time to time in the filings made by Titan with securities regulators.

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For further information:

Investor Relations
Titan Uranium Inc.
Phone: [phone] or 604-925-1810
Facsimile: 306-651-5105
Email: [email protected]
www.titanuranium.com