TORONTO: Titanium Corporation Inc. (TSXV:TIC) is pleased to announce the successful completion of its bulk sampling program as a primary step to extracting mineral sands from the live tailings flow from oil sands operations in Fort McMurray, Alberta. During August, 2005, Titanium Corporation commissioned a Company-designed, portable wet plant at the oil sands tailings site. The 12 tonne per hour capacity unit was connected to the oil sands tailings pipeline and a measured flow of oil sands tailings were processed to extract tonnages of washed sands containing high concentrations of heavy minerals averaging approximately 24%. The washed sands are being evaluated for titanium dioxide (TiO2) content at Titanium Corporation's Pilot processing facilities in Regina, where the Company's proprietary technology for processing oil sands tailings was developed in 2004. This marks the first use of live tailings feedstock. Previous processing utilized sands from the tailings pond area which contains millions of tonnes of tailings with high concentrations of heavy minerals.
To view photo of Bulk Sampling Plant please visit http://files.newswire.ca/445/TitaniumCorp_DSC00023.jpg.
"The completion of the on-site bulk sampling program represents another important technical milestone in the development of this new mineral resource for Canada. The capability to recover heavy minerals from both deposited and live tailings increases the potential production of valuable titanium-bearing and zircon minerals from the oil sands," says Titanium Corporation's President and CEO, Scott Nelson.
The innovative technology developed by Titanium Corporation's technical team provides a valuable use for waste tailings with a number of environmental and cost advantages over mineral sands mined conventionally in other parts of the world. With the addition of the portable unit and Titanium Corporation's Pilot mineral processing facility, the Company now has the capability to quickly assess deposited and live tailings at other oil sands sites.
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
Scott Nelson, President & CEO
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