Toronto, Ontario...February 4, 2005...Titanium Corporation Inc. (the "Corporation") [TSXV:TIC] today announced that since November 30, 2004, 352,410 Agents Options which expire February 17, 2005 were exercised resulting in 352,410 units being issued at the price of $1.70 per unit for proceeds of $599,097. Each unit issued consists of one common share and one share purchase warrant entitling the holder to purchase one common share at the price of $2.00 per share until August 17th, 2005.
Also, since November 30, 2004, 247,086 share purchase warrants which expire on August 17th, 2005 were exercised resulting in 162,086 common shares being issued at the price of $2.00 per share for proceeds of $494,172.
Titanium Corporation advises that the total issued and outstanding common shares after the foregoing are 41,539,101 common shares and there are 24,390 Agent Options outstanding and 2,435,824 share purchase warrants outstanding.
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 from Canada's oil sands. The Company also controls a well advanced 102 square kilometer mineral sand deposit located on the Shubenacadie River, Nova Scotia, Canada. For more information, please visit www.titaniumcorporation.com .
Note: This press release contains projections and forward-looking statements regarding future events. Such forward-looking 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 & CEO
Titanium Corporation Inc.
(416) 955-0715 X 222
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