PRESS RELEASE
DEJOUR
ENTERPRISES
LTD.:
Amex: DEJ / TSX-V: DEJ
FOR RELEASE:
February 12, 2008
Robert L. Hodgkinson, Chairman & CEO, is very pleased to announce
that an associated company, Titan Uranium Inc. (TSX-V:TUE),
has signed
a letter of intent to joint venture a significant Athabasca Basin uranium
exploration project with Japan Oil, Gas and Metals National Corporation
(JOGMEC), a $7-billion international mining and oil-and-gas company with the
mission to secure a stable supply of oil, natural gas and minerals for Japan.
JOGMEC, under this option, has the opportunity to earn 50% of the 400,000-acre
Virgin Trend Project, which is controlled by Titan, by spending $9 million in
exploration over three years.
Dejour owns 33.5% of the
issued capital of Titan and, notably, retains a 10% carried interest and
1% NSR in almost one million acres of prospective uranium properties in
Canada’s Athabasca Basin now owned by Titan, including the subject property of
this joint venture, one of 13 projects acquired from Dejour by Titan early in
2007.
This is the third such externally funded joint venture that Titan has
concluded in the past 12 months, where Titan is the generator.. Two of these
joint ventures cover project areas on which Dejour retains both carried and
royalty interests as previously noted. This provides Dejour with dual upside
leverage from a uranium discovery on any of these properties, absent capital
expenditure. It also provides a guide as to a minimum imputed value
attributable to each of these carried interests.
Dejour is very pleased with the reputation Titan is building as a
generator of prime Canadian uranium properties worthy of exploration by
sophisticated international mining companies. Dejour encourages a continuation
of this method of property exploitation, particularly through this time of
consolidating values in the uranium exploration sector. For details of Titan’s press
release, please visit www.titanuranium.com.
About Dejour
Dejour
Enterprises Ltd. is a micro cap energy company creating real shareholder value
through a balance of discovery, development and monetization of strategic North
American energy properties. The Company recently announced > 10 million
cubic per day natural gas production to begin shortly on part of its 44,000 gross
acres of oil and gas landholdings in
The Company is listed on the Amex (DEJ), TSX Venture
Exchange (DEJ.V), and Frankfurt (D5R). Dejour is a reporting
issuer to the SEC. Refer to www.dejour.com for company details or
contact the Office of Investor Relations at investor@dejour.com
Statements Regarding Forward-Looking
Information:
Some statements contained in this news release are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking statements are inherently
uncertain and involve risks and uncertainties that could cause actual results
to differ materially, including comments regarding the expectation that the
offering will be completed consistent with the terms outlined above and use of
proceeds from this transaction. Actual
results may differ materially from those presented. Factors that could cause results to differ
materially include fluctuations in oil, gas and uranium prices, changes in
The TSX
Venture Exchange does not accept responsibility for the adequacy or accuracy of
this news release.
Robert L. Hodgkinson, Chairman & CEO
DEJOUR ENTERPRISES LTD.
Phone: 604.638.5050 Facsimile:
604.638.5051 Email:
investor@dejour.com