Titan Uranium Inc (CVE:TUE) reports that it has entered into an option agreement with Eagle Trail properties and Rainmaker Mining Corp (CVE:RMG).
The press release is quoted as saying:
The property is located immediately to the east of Titan’s 100% owned Sand Hill Lake property. The property includes 5 claims for a total of 10,910 hectares. The current owners are Eagle Trail Properties Inc (75%) and Rainmaker Mining Corp (25%).
The terms require Titan to carry out exploration work on the following schedule;
-$175,000 by October 30, 2012
-$175,000 by October 30, 2013 and
-$150,000 by October 30, 2014.
During the option period, Titan will be the project operator.
Titan’s President and CEO, Chris M. Healey says:
“This acquisition is an important add-on to our highly prospective Sand Hill Lake property. Conductive trends on Sand Hill Lake extend on to this property and on towards adjacent properties with known uranium mineralization.”