Toronto, Ontario...January 7, 2004...Titanium Corporation Inc. [TSXV:TIC] today announced the appointment of John Oxenford, to the position of Senior Vice-President, Oil Sands Operations, of Titanium Corporation's mineral sand processing project. Mr. Oxenford is one of Canada's leading experts in mineral sand processing technology and is an acknowledged expert in the mineral sands and oil sands industries.
Titanium Corporation announced in December 2003, its plans to invest $5 million to build Canada's first mineral sand processing facility at the Regina Research Park in Saskatchewan. This plant is being built in conjunction with the Saskatchewan Research Council, which has for over 25 years provided scientific research to Syncrude. The pilot plant will confirm Titanium Corporation's proprietary technology to produce high-grade titanium bearing minerals and zircon from Syncrude's centrifuge plant tailings in Fort McMurray, Alberta.
Mr. Oxenford's most recent position was as Syncrude's Senior Technical Advisor. With his background in mineral sands operations, Mr. Oxenford's experience was key in the development of the relationship between Syncrude and Titanium Corporation. Mr. Oxenford has more than 20 years experience with Syncrude, overseeing long-term projects and examining ways to speed up technology transfer processes from research lab to operations.
"Given that Titanium Corporation expects to begin commercial production in 2006-2007, John Oxenford, with his 30-plus years in extractive industries, will be invaluable in directing the transition from pilot plant to full-scale production," says Titanium Corporation Chairman and CEO, George Elliott. "Under Mr. Oxenford's guidance, the process will blend existing Canadian oil-sand processing technology with conventional mineral sands processing technology. This will bring Titanium Corporation one step closer to being able to recover one of the world's most valuable natural resources that has so far been going to waste. Recovery of these resources will satisfy the requirement of the titanium and zircon industries for a long term, secure supply of high grade concentrates."
The pilot plant is expected to be in operation by Spring 2004 and will process up to 5 tonnes per hour of titanium and zircon bearing sand from Syncrude's centrifuge plant tailings stream to yield marketable titanium bearing mineral and zircon products. The plant is the culmination of more than 3 years of dedicated research and development work by Titanium's world-class metallurgical team and will serve as the basis for the design of a commercial-scale mineral sand operation utilizing Titanium Corporation's patent-pending technology.
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 Phillips Oilsands Partnership II COP/NYSE
Imperial Oil Resources IMO-TSX
Mocal Energy Limited
Murphy Oil Company Limited MUR-NYSE
Nexen Inc. NXY-TSX/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 between itself, Syncrude Canada Ltd. and a major titanium dioxide pigment producer, to jointly explore and develop the potential for extracting and producing titanium-bearing minerals and zircon from Syncrude's centrifuge plant tailing stream. 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:
For further information:
George Elliott, Chairman
Titanium Corporation Inc.
(416) 955-0715 X 222
Ari Sussman, Senior Vice-President
Titanium Corporation Inc.
(416) 955-0715 X 223
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