Regina, Saskatchewan -- August 11, 2004 -- Titanium Corporation Inc. [TSXV: TIC] today announced the successful commissioning of the Wet Mill operation at its Regina Pilot Plant. The result of commissioning the Wet Mill has been the production of heavy mineral concentrate in form satisfactory to be used to commission Titanium Corporation's Dry Mill, which is the final process stage allowing the Corporation to successfully recover titanium-bearing minerals and zircon from Syncrude Canada's Plant 6 tailings pond in quantities suitable for industry evaluation.
As previously announced the Regina Pilot Plant was constructed to confirm the Corporation's patent pending processes to recover the valuable heavy minerals.
The Corporation's Vice-President and General Manager, Neil Erasmus says "The following assay results are very positive since they resulted from the commissioning phase of the Wet Mill and experience has shown that continued operations of the Pilot Plant will optimize and improve these favorable assay results."
The assay results are summarized as follows:
|Rutile / Leucoxene (Hi-Ti minerals)||5.9|
|Total Fe-Ti oxides + Pyrite + Quartz Composites)||9.1|
|Gangue (Monazite, Pyrite, Chromite, Others)||39.4|
· Assays conducted by Kumba Resources, South Africa
The average percentage of total heavy minerals (THM) is determined as 81.5 per cent, using a Tetra Bromo Ethane (TBE) sink-float method and magnetic separation process to facilitate grain counting.
"These results are extremely positive because they are consistent with results yielded at the bench scale level, previously produced at the Corporation's facilities at the Minerals Engineering Centre, Dalhousie University, Halifax and are on par with assays from the world's foremost titanium and zircon mining projects," says Titanium Corporation Chairman, George Elliott. "As we work on the second and final stage of the process that will concentrate the total heavy minerals through the Dry Mill to yield a high titanium content concentrate (Hi-Ti), ilmenite and zircon, we will continue to improve the Wet Plant's rejection of pyrite and further increase the recovery of Hi-Ti minerals in the Dry Mill feed material. In addition, we are very pleased with the continued confirmation of a high percentage zircon content of the mineral suite, as zircon is a valuable byproduct of a titanium mineral sand operation."
The Dry Mill is being commissioned and began processing feed material from the Wet Plant on July 26, 2004. The Dry Mill's dryer module (DBC unit) is performing according to design specifications and two re-heater units that function as part of the Dry Mill have been successfully commissioned.
X-ray fluorescence (XRF) analyses are being waited upon for conclusive results comparing Dry Mill feed after DBC unit processing, versus Dry Mill feed prior to DBC unit processing. A better separation was visually observed with material processed through the DBC unit.
"We are well on the way to successfully commissioning all key components of the heavy minerals recovery process that we are pioneering in Regina," says Elliott. "We will shortly be in a position to focus on yielding the quantities of Hi-Ti, ilmenite and zircon necessary to proceed towards commercial production."
About Syncrude Canada Ltd.
The Syncrude Project is a joint venture operated by Syncrude Canada Ltd. and owned by, Canadian Oil Sands Limited Partnership, Canadian Oil Sands Limited, Conoco Phillips Oilsands Partnership II, Imperial Oil Resources, Mocal Energy Limited, Murphy Oil Company Limited, Nexen Inc. and Petro-Canada Oil and Gas.
Trading Symbols for Public Syncrude Joint Venture Owners:
|Canadian Oil Sands Limited Partnership||COS.UN -TSE|
|Canadian Oil Sands Limited|
|Conoco Philliops Oilsands Partnership II||COP/NYSE|
|Imperial Oil Resources||IMO-TSX|
|Mocal Energy Limited|
|Murphy Oil Company Limited||MUR-NYSE|
|Petro-Canada Oil and Gas||PCA-TSX/PCZ-NYSE|
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 in Canada. On June 4, 2003, the Company entered into a three-way two-year exclusivity agreement among itself, Syncrude Canada Ltd. and a major titanium dioxide pigment producer, to jointly explore and develop the potential for recovering titanium-bearing minerals and zircon from Syncrude's centrifuge plant tailing stream. The Company also controls a well advanced 102 square kilometre mineral sand deposit located on the Shubenacadie River, Nova Scotia, Canada. For more information, please visit www.titaniumcorporation.com.
Disclosure regarding forward-looking statements
Note: This press release contains projections and forward-looking statements regarding future events. Such forwardlooking 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, Chairman
(416) 955-0715 X 222
John Oxenford, Senior VP
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