Content area
Abstract
Titan's growth strategy is driven by advancing exploration projects to discovery in the proven Athabasca and prospective Thelon basins. Titan has gained market recognition for its ability to attract strategic partners to participate in exploration on its properties by virtue of its 1.5 million acre land position and technical expertise. In 2008, Japan Oil, Gas and Metals National Corporation (JOGMEC) signed two letters of agreement with Titan to explore the Company's Virgin Trend and Border Block projects as an element of its mandate to seek a stable supply of natural resources for Japan. In April 2008, Vale Exploration Canada Inc., a wholly-owned subsidiary of Companhia Vale do Rio Doce (VALE), the world's second largest mining company by market capitalization, signed an agreement with Titan on the Sand Hill Lake/Rook II project. Titan also has a major joint venture project underway in the Thelon Basin with Mega Uranium Ltd. Additional partnerships are at the planning stage.
Partners of Titan have the option to expend Cdn $28.5 million in exploration programs managed by Titan between 2008 and 2012. The partners can earn a portion of Titan's interest in these strategically located properties in the Athabasca and Thelon basins. Optionees of Titan properties spent Cdn $5.5 million on exploration programs managed by Titan in 2007.