Toronto, Ontario....October 4, 2006...Titanium Corporation Inc. [TSX-V:TIC] is pleased to announce that its pilot mineral concentrator plant has been successfully commissioned on-site in Fort McMurray, Alberta.
The operation of this heavy mineral concentrator on-site is an important step in Titanium Corporation's 2006 Pilot Program to finalize the Company's process flow sheet to optimize the recovery and separation of heavy minerals from mined oil sands tailings. As a result of technical work conducted in 2005, the Company's engineering team redesigned the process flow sheet. The Company's strategic plan was modified to focus the first phase of development on the production of zircon, followed by an expansion phase to produce titanium products. Zircon continues to remain in high demand world wide and has experienced significant price increases (for more information on the 2006 Pilot Program, please listen to the Company's August 16, 2006 conference call by clicking on the following link: http://www.titaniumcorporation.com/s/Presentations.asp).
|Left: Photo showing Titanium Corporation's mineral concentrator pilot plant on-site in Fort McMurray. For more pictures from the 2006 Pilot Program, please visit: http://www.titaniumcorporation.com/s/ PhotoGallery.asp?ReportID=143211|
The pilot mineral concentrator was constructed in Australia in modules, a strategy which is proving highly efficient with project timing and costs tracking within the original budget of C$3 million. Following decommissioning of the pilot mineral concentrator in late October 2006, the mineral concentrate that is produced will be shipped to Titanium Corporation's Regina facility for separation processing and analysis during the fourth calendar quarter of 2006.
About Titanium Corporation
Titanium Corporation Inc. is a Canadian company developing a commercial minerals recovery project in the Fort McMurray, Athabaska oil sands region. Through extensive research, including the construction and operation of pilot and portable processing facilities, the Company has developed proprietary processes and technology to recover valuable titanium-bearing minerals and zircon from oil sands tailings. Titanium Corporation's technology could be applied to existing and planned mined oil sands projects with the objective being to create a new sustainable minerals industry for Canada. Titanium Corporation Inc. shares trade on the Toronto Venture Exchange (TSX.V) under the symbol TIC. For more information, please visit our website www.titaniumcorporation.com.
Disclosure regarding forward-looking information
Note: This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations which are based on assumptions and are subject to a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These risks and uncertainties are more particularly described and updated by Titanium Corporation's Quarterly Management's Discussion and Analysis filed for the period ended May 31, 2006, on SEDAR (www.sedar.com). Most notably these risks and assumptions include risks associated with the successful, economical operation of facilities and assumptions about commercial facility construction, timing and delivery. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
For further information:
Scott Nelson, President & CEO
Titanium Corporation Inc.
Carolyn Muir, Investor Relations
Titanium Corporation Inc.
416-955-0715 X 224
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