Regina, Saskatchewan -- September 15, 2004 -- Titanium Corporation Inc. [TSXV: TIC] today announced that the positive results of new assays validate Titanium Corporation's technology to recover titanium-bearing minerals and zircon from Syncrude Canada's Plant 6 tailings pond.
Titanium Corporation's Chairman and CEO, George Elliott, says the combined results of prior commissioning of the Wet Mill together with the recent positive results from commissioning of the Dry Mill also signal the successful commissioning of the Regina Pilot Plant.
"These positive results from the full-sized commercial equipment of our Regina Pilot Plant have been attained within weeks of start up of the Dry Mill and we expect improvement in our products as the Pilot Plant continues to process the 3000 tonne stockpile of tailings," says Elliott.
Titanium Corporation's Vice President Production Technology and Pilot Plant General Manager, Niel Erasmus, says that separate ilmenite and HiTi (Leucoxene/rutile enriched) products have been produced in Titanium Corporation's Dry Mill from heavy mineral concentrates recovered during commissioning of the Wet Mill. (See Press Release dated August 11, 2004).
Mr. Erasmus further reports that all the separation equipment has been successfully commissioned at the Dry Mill and that slight modifications currently have been incorporated to improve the overall flow sheet.
Now that the Regina Pilot Plant has confirmed that it is capable of producing titanium-bearing mineral concentrates, Titanium Corporation's technical team will continue to improve the circuitry to maximize recovery rates. In addition, now that the Dry Mill is operational, Titanium Corporation will be stockpiling approximately 6 tonnes of the zircon enriched, non-conductor fraction produced by the Dry Mill for further wet gravity separation to produce zircon concentrates.
"The tailings that we have processed confirm the lowest amounts of Uranium and Thorium of any known deposits in the world and this is extremely important for the production of zircon products," says Erasmus. "We expect to have detailed analysis of our zircon products by November, 2004."
Titanium Corporation's Chief Metallurgist of Titanatek Pty, Brisbane, Australia, Neil Dawson, says the progress at the Pilot Plant is a significant milestone. "Having been involved for the past two years in the challenges of hydrocarbon removal to allow the successful recovery of titaniumbearing minerals and zircon from Syncrude Canada's tailings, I am pleased to say that the challenge has been met and I look forward to continued improvement in the quality and quantity of valuable minerals to be recovered from this vast resource."
"The successful operation of Titanium Corporation's Regina Plant to produce titanium-bearing minerals and soon zircon concentrates is the culmination of three years of extensive research and development by our technical team producing results that not only were thought previously not possible, but in effect are better than the results attained from our Dalhousie University Laboratory in Halifax.
This X-ray fluorescence (XRF) analysis conducted by Ultra Trace (Pty) Ltd. of Australia confirmed the chemical analysis of the titanium-bearing minerals as follows:
Titanium Corporation also announces that Elwood Dillman, who provides consulting advice to the Corporation with regards to transportation, shipping and customs matters affecting the Corporation's equipment and products, has been issued 20,000 stock options exercisable at $1.60 per share for a period of five years, subject to the Corporation's Stock Option Plan and to regulatory approval.
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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