Company plans to construct sampling plant at Syncrude site in Ft. McMurray
Toronto, Ontario...April 26, 2005...Titanium Corporation Inc. [TSXV: TIC] today announces that the three way exclusivity agreement between Syncrude Canada Ltd., Titanium Corporation Inc. and a major titanium dioxide pigment producer has been extended for a further 12 months. As a further development of the oil sands mineral recovery project, Titanium Corporation is now proceeding with the design, engineering and installation of a bulk sampling facility to be erected at the oil sands tailings site in Ft. McMurray.
The bulk sampling plant is a small-scale wet mill facility, which will separate the oil and water from mineral-bearing sand. This solid material will then be trucked to Titanium Corporation's demonstration plant in Regina for further processing. The bulk sampling plant will provide further confirmation of the consistency of the material from which titanium and zircon products are being produced at the Regina facility.
The plant, which will be fabricated in Australia, is anticipated to be operational by late Summer 2005 and it will operate for several months. The Company estimates a total capital and operating expense of CAD $625,000.
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 Phillips Oilsands Partnership II COP/NYSE
Imperial Oil Resources IMO-TSX
Mocal Energy Limited
Murphy Oil Company Limited MUR-NYSE
Nexen Inc. NXY-TSX/NYSE
Petro-Canada Oil and Gas PCA-TSX/PCZ-NYSE
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 Corporation's mission is to become the first titanium and zircon sand producer from Canada's oil sands. Through extensive research, including the construction and operation of a $5 million commercial demonstration facility in Regina, Saskatchewan, 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 .
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, Executive Chairman
Titanium Corporation Inc.
416-955-0715 X 222
Scott Nelson, President & CEO
Titanium Corporation Inc.
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