Toronto, Ontario -- May 10, 2004 - Titanium Corporation Inc. [TSXV: TIC] today announced the appointment of Salustio Guzman as Manager of Process Upgrading Technologies. Dr. Guzman will oversee the evaluation and design of the most suitable technology to increase the grade of the titanium-bearing minerals from the Syncrude Heavy Mineral Sand Project.
During his 14-year tenure as a process researcher at Quebec Iron & Titanium Inc. ("QIT") Dr. Guzman supervised various research programs on sand beach ilmenites, which included the assessment of operating and cost parameters on both smelting new sand beach ilmenite ores and upgrading sand beach ilmenite through synthetic rutile processes. He also supervised and successfully implemented a comprehensive environmental management program for QIT's mining and metallurgical operations, which received the 1995 Quebec environmental Award for Large Enterprises.
Dr. Guzman has his Doctor of Engineering Science from Henry Krumb School of Mines, Columbia University. He previously attained his Masters Degree in Extractive Metallurgy from the University of Bolivia. Dr. Guzman's 20 years of experience as a metallurgical engineer began when he was a research scientist at Alcan and was a leader in achieving major progress on the development and design of a chloride aluminum extraction process.
"Titanium Corporation is committed to producing the highest-grade titanium by-product, costeffectively," says Titanium Corporation Chairman and CEO, George Elliott, "Dr. Guzman will play a pivotal role as we move to the next phase of demonstrating the commercial viability of recovering titanium-bearing minerals from Canada's oil sands and providing pigment producers with one of the few stable, North American-sourced suppliers of titanium."
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 Philliops Oilsands Partnership II||COP/NYSE|
|Imperial Oil Resources||IMO-TSX|
|Mocal Energy Limited|
|Murphy Oil Company Limited||MUR-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 among itself, Syncrude Canada Ltd. and a major titanium dioxide pigment producer, to jointly explore and develop the potential for recovering titanium-bearing minerals and zircon from Syncrude's centrifuge plant tailing stream. The Company also controls a well advanced 102 square kilometre mineral sand deposit located on the Shubenacadie River, Nova Scotia, Canada. For more information, please visit www.titaniumcorporation.com.
Disclosure regarding forward-looking statements
Note: This press release contains projections and forward-looking statements regarding future events. Such forwardlooking 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:
George Elliott, Chairman
(416) 955-0715 X 222
John Oxenford, Senior VP
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