132N

Initial site clearing activities will commence this month, with mine development commencing in July 2007. First nickel production is scheduled in the first quarter of FY 2008.

The deposit has been re-interpreted and re-modelled based on previous drilling, over a total strike length of approximately 600m and to a vertical depth of 330m below surface. Subsequent drilling programs have tested a higher grade zone within the upper 150m of the deposit, which plunges to the north immediately beneath the existing open pit. Intersections such as 4.5m @ 8.41% Ni, 7m @ 4.08% Ni, 11m @ 1.65% Ni and 3.3m @ 3.38% Ni have confirmed this higher grade zone.

Titan Resources has announced the following results from its Widgie Townsite and 132N nickel deposits, located near Widgiemooltha in the Eastern Goldfields of Western Australia. The Company has completed a number of successful drilling programs at Widgie Townsite primarily to confirm the grade and thickness of a near surface, higher grade zone within the main (NO2) mineralized lens, and the narrower, higher grade NO1 lens located immediately to the west of NO2. The JORC classified resource for Widgie Townsite currently stands at 2.08Mt @ 1.89% Ni, at a 1% Ni cut off. Utilizing this resource model, a preliminary economic scoping study based on underground mining of the upper 200m of the NO1 and NO2 lenses was completed, indicating a potentially viable project with a pre-tax cash value of $14.8 million, based on a nickel price of $17,000/t. Drilling the 132N deposit, defined mineralization up to 500m north of the pit and to 320m vertically below surface. The deposit remains open at depth. Further work is planned to better define the resource within the open pit shell, and look at the possibilities for enhancement of the deposit at depth for potential underground mining.