Toronto, Ontario....November 9, 2006...Titanium Corporation Inc. ["Titanium", TSX-V:TIC] is pleased to announce that it has filed a formal Project Overview with Alberta Environment describing for the public and regulatory authorities the general plans for the development of Titanium's Heavy Minerals Recovery Project.
Titanium's Project has progressed to the stage where submission of the Project Overview document is an important step in the formal regulatory review process with the Government. The filing advises the public and regulators of the scope of Titanium's Project including the Project's sustainable environmental and socio-economic benefits. The Document will also be used in discussions with affected stakeholders in Alberta and elsewhere.
Since 2004, Titanium's Project has advanced by the operation of its Regina pilot facility to separate heavy minerals from deposited oil sands tailings followed by a bulk sampling plant on-site in Fort McMurray, which processed fresh pipeline tailings in the fall of 2005. In addition, Titanium has been conducting a daily pipeline sampling program and a comprehensive drill core resource study to evaluate the overall resource.
This development work provided the basis for Titanium's 2006 Pilot Program, the first phase of which involved the operation of a full-phase pilot mineral concentrator plant connected to the continuous-flow oil sands tailings pipeline on-site in Fort McMurray. Titanium recently announced that the pilot mineral concentrator successfully produced heavy minerals concentrate, which will now undergo separation processing at Titanium's Regina facility. The work in Regina will continue over the next several months to finalize process flow sheets, maximize the recovery of zircon from the heavy minerals concentrate and produce final zircon product samples to be evaluated by interested customers and potential partners.
The Project Overview document is available on Titanium's website www.titaniumcorporation.com .
About Titanium Corporation
Titanium Corporation Inc. is a Canadian company developing a commercial minerals recovery project in the Fort McMurray, Athabasca oil sands region. Through extensive research, including the construction and operation of pilot 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 of creating 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 future plans and objectives, operating or technical difficulties in connection with development activities and development time lines and priorities. 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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