Toronto, Ontario...March 18, 2005...Titanium Corporation Inc. [TSXV: TIC] announces the appointment of Dr. Salustio Guzman as Vice-President, Marketing and Technology effective March 17, 2005. Dr. Guzman joined Titanium Corporation in May 2004 as Manager of Process Upgrading Technologies (see news release dated May 10, 2004.) In his new role, Dr. Guzman will be responsible for taking final titanium and zircon products to market, establishing purchase agreements with downstream consumers and ensuring high quality products reach customers in the most efficient manner. Salustio will continue to oversee the evaluation and design of the most suitable technology to increase the quality of the titanium and zircon concentrates from Titanium Corporation's Oil Sands Project.
Dr. Guzman, a graduate from the Henry Krumb School of Mines, Columbia University, New York, with a Doctorate in Engineering Science (Extractive Metallurgy), has over 20 years of metallurgical engineering experience. Dr. Guzman was Project Leader and Research Scientist for Alcan International Ltd. and he was Senior Research Director of Rio Tinto's QIT Division, one of the world's top five feedstock producers. He also was a professor-lecturer for the Department of Mining, Metals and Materials Engineering at McGill University.
"Titanium Corporation is fortunate to have a world-class technical and management team, which will play an integral role as we move toward the commercialization phase of our project to recover titanium and zircon from oil sands tailings, " says Titanium Corporation President and CEO, Scott Nelson.
The Corporation also announces that on March 17, 2005, the board of directors approved the issuance of 75,000 stock options to Mr. Eric Slavens, a newly appointed director of the Corporation, 50,000 options to Mr. Brad Kipp, Chief Financial Officer, 50,000 options to Mr. George Duguay, Corporate Secretary, and 50,000 options to each of George Elliott, Art Ditto, Ron Arnold, Bill Welsh, John Zaozirny and Stephen Rankin, all directors of the Corporation. These options are exercisable at $3.86 per share for a period of five years, subject to the Corporation's stock option plan and to regulatory approval. In keeping with the policies of the TSX Venture Exchange and the Corporation's stock option plan, these options shall vest in stages over a period of 18 months.
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, Executive Chairman
Titanium Corporation Inc.
416-955-0715 X 222
Scott Nelson, President & CEO
Titanium Corporation Inc.
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