November 13th, 2008

NEWS RELEASE ｗｗｗ.jogmec.go.jp
Japan Oil, Gas and Metals National Corporation
Division in Charge： Uranium Exploration Team, Metals Exploration Dept.
Kawamura, Kobayashi, and Harada FAX：+81-44-520-8740
PR in Charge： Public Relations Division, Administration Dept.
Uematsu FAX：+81-44-520-8710

Launch New Joint Uranium Exploration in Canada
Japan Oil, Gas and Metals National Corporation (JOGMEC), whose president is Mr. Hirobumi Kawano,launched a new joint uranium exploration in Saskatchewan, Canada under Uranium Exploration Assistance※1
with grant from Japanese Government.
Border Block Area, the target area of this Project located in the Athabasca Basin which is known to aquarter of world uranium production and approximately 700km north from Saskatoon, Saskatchewan inCanada. This is the second project following Virgin Trend Project※２, the first project in the same basin. Titan
Uranium Inc. ※３, Canadian Exploration Company, is the partner of these joint explorations.
■ OUTLINE OF PROJECT
１） AREA OF EXPLORATION
Border Block Area, the target area of this Project is located in the west of the Athabasca Basin, north of
Saskatchewan, Canada, which consists of 18 claims (approximately 764km2).

２）JOINT EXPLORATION AGREEMENTJOGMEC has committed to funding totally C$6million over 4 years for the exploration expenditure and will beable to obtain an undivided 50% ownership interest in the Border Block project. Furthermore, JOGMEC has theoption to provide an additional C$6million to obtain the exclusive marketing rights of the mineral products. This
joint exploration agreement was concluded in November 12, 2008.

３） OUTLINE OF EXPLORATION
Titan Uranium Inc. carried out airborne electromagnetic surveys. And this survey detected numerous anomaliesseveral of which are interpreted to be basement graphitic horizons. We will carry out a drilling survey in theseanomalies and will continue geophysics in order to find new anomalies and to carry out additional drilling survey.

（NOTES）■Uranium Exploration Assistance※１

The scheme has started since 2007 with grant from the Ministry of Economy, Trade and Industry (METI) in order tofacilitate uranium exploration and development in overseas. Under the scheme, JOGMEC provides grant to Japanese
private companies who do uranium exploration. JOGMEC itself also do uranium exploration in the area where hasuranium deposit potential but exploration activity is not active due to technical reason or investment environment.
■

Virgin Trend Project in Canada※２

Virgin Trend Project area is located in the center of the Athabasca Basin and it consists of 44 mining tenements(approximately 1,620km2). This project is the first joint exploration project with Titan Uranium Ltd. and has
been launched since 2007.

In 2008, SQUITEM, JOGMEC’s independently developed geophysical survey,

penetrated the deep and we are planning to conduct drilling in winter.
■Titan Uranium Incorporated※３Uranium Exploration Company based in Saskatoon, Saskatchewan, Canada. This company has many exploration
projects and also our partner of the said Virgin Trend Project.

Border Block Area

Saskatoon
Vancouver
Saskatchewan

0km

1,000km

Project Area Map