Regina, Saskatchewan -- November 30, 2004 -- Titanium Corporation Inc. [TSXV: TIC] today announced that positive assay results conducted by Ultra Trace (Pty) Ltd. of Australia, have confirmed that the majority of the bulk zircon products being produced at its commercial demonstration plant in Regina can be classified as prime grade zircon.
Typical prime grade zircon must adhere to the following specifications:
|ZrO2 + HfO2:||66.0%|
|U + Th:||<500 ppm|
Titanium Corporation's Chairman and CEO, George Elliott says, "The production of the first bulk zircon products marks another milestone for Titanium Corporation in proving that our technology to recover valuable heavy minerals from Syncrude Canada's oil sands tailings is successful."
The zircon products were produced from stockpiled non-conductors, which were derived during previous processing and commissioning stages of the Dry Mill. The zircon rich non-conductors were first upgraded using a multi-stage wet gravity circuit. The concentrate from this upgrading circuit was then subjected to various electrostatic and magnetic separation stages.
"Of great importance is the fact that this particular zircon, derived from the Athabasca Oil Sands, contains some of the lowest radioactivity levels in the world. X-ray fluorescence (XRF) analysis confirms the Uranium (U) and Thorium (Th) values to be typically less than 400 ppm," comments Titanium Corporation's Chief Metallurgist, Neil Dawson.
Niel Erasmus, Titanium Corporation's Vice President Production Technology and Pilot Plant General Manager, reports that the bulk zircon products produced in Titanium Corporation's Dry Mill plant have already been dispatched to consumers for market evaluation purposes. The focus during the next few months will be to further refine the process for increased recovery of the titanium dioxide and zircon products.
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 Philliops Oilsands Partnership II||COP/NYSE|
|Imperial Oil Resources||IMO-TSX|
|Mocal Energy Limited|
|Murphy Oil Company Limited||MUR-NYSE|
|Petro-Canada Oil and Gas||PCA-TSX/PCZ-NYSE|
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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