TORONTO: Titanium Corporation Inc. (TSXV: TIC) today announced test results with respect to its ongoing technical programs. The Company has been conducting a daily sampling program of fresh pipeline tailings material at the oil sands site since January, 2005. Results to date from this program indicate an average Total Heavy Minerals content of 34.2%, in the minus 500 (micro) m plus 45 (micro) m fraction and an improved product suite comprised of significant levels of zircon and increased levels of the higher TiO2 content minerals, rutile and leucoxene (as compared with earlier results from testing of tailings that had been deposited in the tailings pond). The high percentage of zircon is particularly significant since zircon is a key economic driver of mineral sands projects.
The average minus 500 (micro) m plus 45 (micro) m fraction of valuable heavy mineral composition of daily pipeline samples taken from January 1, 2005 to August 31, 2005 is as follows:
Zircon 21.2% Leucoxene* 41.9% Ilmenite* 31.0% Rutile* 5.9%
* TiO2 content is as follows: Ilmenite equals 61-68%TiO2; Leucoxene equals 68-78% TiO2; Rutile equals 95-96% TiO2
Determination of the mineral assemblage of the fresh tailings from the pipeline is derived from regular samples taken every 2 hours by the oil sands operator's automated sampler. These samples are then combined on a daily basis. These daily composites are then subjected to oil removal as well as slimes and oversize determining steps. The total heavy mineral content is further derived from the minus 500 (micro) m plus 45 (micro) m sand fraction, which is then composited in a representative monthly sample that is further magnetically fractionated and analyzed by independent Australian laboratories, Ultra Trace (Pty) Ltd. and Geochempet Services. The Daily Sampling program is an important component of Titanium Corporation's development of its final process flow sheet. Another aspect of the Company's continuous development toward finalizing the specifications of its process flow sheet was the Bulk Sampling program. The results of the Bulk Sampling program confirmed the Company's ability to process material directly from the fresh tailings pipeline (see news release dated September 29, 2005). Approximately 350 tonnes of washed sand, representing fresh tailings samples, were obtained from the Bulk Sampling Wet Plant. By utilizing the portable Bulk Sampling Wet Plant together with the Regina Pilot Plant, the Company now has the capability to quickly assess tailings at other oil sands sites. The Company has commenced a drill core analysis program utilizing existing core samples from the oil sands drill core inventory. The cores are being analyzed for total heavy minerals content which will enable the Company to compile an overall resource estimate as well as predict valuable heavy minerals production resulting from the oil sands operator's mining program. The Company is also pleased to announce that the international engineering firm AMEC has been selected to manage the design, engineering and construction of its mineral processing facilities. AMEC has extensive experience in both mining and oil sands projects. AMEC is working closely with the Australian firm R.J. Robbins & Associates which has ongoing responsibility for process design and engineering. R.J. Robbins & Associates previously designed the Company's Pilot Plant and Bulk Sampling facilities. About Titanium Corporation Titanium Corporation Inc. is a Toronto-based mineral development company whose shares are listed on the TSX Venture Exchange under the symbol "TIC", U.S. clearing symbol "TITUF", CUSIP Number: 88833T104. The Company's mission is to become the first titanium and zircon sand producer from Canada's oil sands. Through extensive research, including the construction and successful operation of a pilot facility, the Company has developed proprietary technology to recover valuable titanium-bearing minerals and zircon from oil sands tailings. For more information, please visit www.titaniumcorporation.com. Disclosure regarding forward-looking statements 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 on page 24 in the Risk Factors section of Titanium Corporation's Annual Information Form which was filed on SEDAR (www.sedar.com) January 18, 2005, as updated by the Corporation's Annual and Quarterly Management's Discussion and Analysis. Most notably these risks and assumptions include risks associated with the market price of zircon and titanium products, costs of construction and operation of facilities, and assumptions about 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: George Elliott, Chairman (416) 955-0715 X 222 email@example.com Scott Nelson, President & CEO (403) 561-0439 firstname.lastname@example.org
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