Titan Resources International Inc. Signs LOI, Acquires Property
Titan Resources International Inc. (PINKSHEETS: TNRI) (FRANKFURT: 36T1) announces that it has completed the necessary due diligence to date, and has subsequently signed the official option earn in, and joint venture agreements for the exploration and development of the previously announced mineral property acquisition in the Sault. Ste. Marie mining district of Northern Ontario, Canada.
The property consists of a total of 40 mining claim units covering just under 700 hectares of mineral and exploration rights. The claims are situated in the “Napanee Lake” area of the “Sault Ste. Marie mining district,” northern Ontario, and sit adjacent to the “Sakoose” gold mine. The area is well known for its favorable geology and rich history of hosting gold mineralization.
The Property will be explored pursuant to an option earn in and joint venture agreement whereby Titan has been granted an option for the right to earn an undivided 50% interest in the property, by making various option payments, and by expending a minimum of $300,000.00 USD in exploration work, over the next three years.
Titan and their JV partner now look forward to commencement of the program, scheduled to begin on or about October 01, 2008.
TITAN Resources International Inc. is a publicly traded resource exploration company dedicated to the acquisition, exploration and development of small to medium size precious metals properties of exceptional merit in North and South America. Please visit our company web site at www.titan-resource.com
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may,”"should,”"expects,”"plans,”"anticipates,”"believes,”"estimates,”"predicts,”"potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.
Contact: INVESTOR RELATIONS: Titan Resources International Inc. (866) 365-4724 Email: Email Contact Website: http://www.titan-resource.com
SOURCE: Titan Resources International Inc.