EDMONTON, ALBERTA -- September 28, 2010 -- Titanium Corporation Inc. (the "Company") (TSX-V: TIC) today announces the issue of a total of 700,000 incentive stock options to the Chief Executive Officer and Vice President Process Development. The options were granted in recognition of the successful execution of key milestones involved in the commissioning of the operational pilot project demonstrating the potential of the Company's oil sands tailings technologies currently being conducted at CanmetENERGY. Notably, production volumes and quality are in the upper range of targets. The Company believes that the ongoing pilot project has considerably advanced its technologies towards its goal of full commercial production. The Company also issued 550,000 incentive stock options to employees, Directors and other Officers.
In addition, Mr. Andreas Curkovic has been retained to provide Investor Relations services to the Company effective immediately and has been granted 50,000 incentive stock options. In addition he will be compensated $5,000 per month renewable on a monthly basis. The total 1,300,000 incentive stock options are exercisable at $1.32 per share for a period of five years pursuant to the Company's stock option plan and in accordance with the policies of the TSX Venture Exchange.
About Titanium Corporation Inc.
Titanium Corporation Inc. is developing technology to recover heavy minerals, bitumen, solvent and water contained in the waste tailings streams from oil sands mining operations near Fort McMurray, Alberta. The potential benefits from this "Creating Value from Waste TM" proposition are twofold. First, the recovered products will have intrinsic value and will provide shareholders with a source of revenue. Second, by using an integrated approach to recovering lost products there is potential for industry-wide environmental benefits reducing emissions and the footprint of tailings ponds. The Company's shares trade on the TSX-V under the symbol TIC. For more information visit the Company's website at www.titaniumcorporation.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
President & CEO
Tel: (403) 561-0439
Tel: (416) 577-9927
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