Trace element analysis in sandstone rocks identified weak to moderate uranium anomalies in five of the eight drill holes, with values of Two ppm uranium over a regional background of 0.38 ppm. The uranium anomalies are associated with the presence of pathfinder elements of boron (up to 1110 ppm over a regional background of 60 ppm), copper, zinc, or molybdenum, and are partially independent from thorium anomalies. In basement rocks, background uranium values were determined to be 0.74 ppm with anomalous values up to 4.84 ppm above a threshold of 1.83 ppm. Two holes, SH-09-23 and SH-09-25, returned anomalous uranium from both basement and basal sandstone rocks. Clay species alteration assemblages illite-sudoite were developed throughout the drill tested area. The nature of the clay species combined with the presence of pathfinder elements, which exhibit elevated values, and graphitic host rocks are typically found in the vicinity of unconformity-type uranium mineralization in the Athabasca Basin. Titan Uranium and VEC will review the drilling results and geophysical data in preparation for a summer drill program.

The Sand Hill Lake project includes the Sand Hill Lake and Rook II properties (20 claims totaling 84,224 hectares/208,122 acres) and is located in the southern central portion of the Athabasca Basin in north Saskatchewan. The project is adjacent to the Cameco Corp./Areva Resources Canada Inc./Formation Capital Corp. Virgin River property that hosts the Centennial deposit where the highest grade-thickness intervals reported to date are found in hole VR-031W1 which intersected 7.62% U3O8 over 17.8 meters.

VEC can earn a 60% undivided interest in the project by funding CAD12 million in exploration over a five year period.Titan Uranium is the operator of the exploration programs.

VEC is an affiliate of Vale Inco Limited, each a wholly-owned subsidiary of Companhia Vale do Rio Doce (VALE).