Toronto, Ontario...February 24, 2005...Titanium Corporation Inc. (the "Corporation") [TSXV:TIC] today announced that further to the previously announced appointment of Scott Nelson as President and CEO, the board of directors has approved issuance of 500,000 options to Mr. Nelson, all exercisable at $3.40 per share for a period of five years from date of grant, subject to the Corporation's stock option plan and to regulatory approval. In keeping with the policies of the TSX Venture Exchange (the "Exchange") and the Corporation's stock option plan, these options will be subject to a four month Exchange hold period from date of grant and subject to Mr. Nelson's stock option agreement shall vest in stages as follows: one-third after 12 months, a further one-third after 24 months and the remainder after 36 months.
About Titanium Corporation
Titanium Corporation Inc. is a Toronto-based mineral exploration and development company whose shares are listed on the TSX Venture Exchange under the symbol "TIC", U.S. clearing symbol "TITUF", CUSIP Number: 88833T104. The Corporation's mission is to become the first titanium and zircon sand producer from Canada's oil sands. The Company also controls a well advanced 102 square kilometer mineral sand deposit located on the Shubenacadie River, Nova Scotia, Canada. For more information, please visit www.titaniumcorporation.com .
Note: This press release contains projections and forward-looking statements regarding future events. Such forward-looking statements are not guarantees of future performance of the Corporation and are subject to risks and uncertainties that could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward-looking statements.
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, Executive Chairman
Titanium Corporation Inc.
(416) 955-0715 X 222
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