TORONTO: Titanium Corporation Inc. (TSXV:TIC) Executive Chairman, George Elliott, today announced the appointment of Malcolm Macpherson as Director of the Corporation. Mr. Macpherson is a leader in the mineral sands industry with a distinguished 25-year career as a senior executive and Chief Executive Officer of Iluka Resources Ltd., the world's largest combined titanium and zircon mineral producer.
Mr. Macpherson was instrumental in forming Iluka Resources in 1999 (formerly Westralian Sands Ltd) and helped grow the company to its paramount position in the mineral sands industry.
Mr. Macpherson has served as head of the Western Australian Chamber of Minerals and Energy, and as Senior Vice President of the Minerals Council of Australia. He also served a decade as Chairman of Western Power Corporation. Mr. Macpherson currently holds directorships with a number of organizations including, Chairman of CRC Sustainable Resources Processing.
"Malcolm Macpherson brings to Titanium Corporation an unparalleled depth of mineral sands and industry leadership experience," says Titanium Corporation Executive Chairman, George Elliott. "I am delighted to have him join Titanium Corporation's Board of Directors at this important stage in the development of the Company's Oil Sands project."
"I would also like to congratulate John Zaozirny on his recent appointment as Chairman of Provident Energy," continues Elliott. "John will be retiring from Titanium Corporation's Board to take on his new responsibilities. On behalf of the Board and Management team, I would like to thank John for his valued advice and contributions to the Company."
In accordance with being appointed a Director of Titanium Corporation, Malcolm Macpherson has been issued 75,000 stock options exercisable at $2.30 per share for a period of five years, subject to the Corporation's stock option plan and to regulatory approval.
About Titanium Corporation
Titanium Corporation Inc. is a Toronto-based mineral development company whose shares are listed on the TSX Venture Exchange under the symbol "TIC", U.S. clearing symbol "TITUF", CUSIP Number: 88833T104. The Company's mission is to become the first titanium and zircon sand producer from Canada's oil sands. Through extensive research, including the construction and successful operation of a pilot facility, the Company has developed proprietary technology to recover valuable titanium-bearing minerals and zircon from oil sands tailings. For more information, please visit www.titaniumcorporation.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
For further information:
George Elliott, Chairman
(416) 955-0715 X 222
Scott Nelson, President & CEO
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