Conference call and webcast scheduled for 11:00am EST on Monday April 23, 2007
Toronto, Ontario...April 19, 2007...Titanium Corporation [TSX.V:TIC] is pleased to provide an update on its operations to develop a new sustainable source of titanium and zircon from Canada's oil sands following the filing of its quarterly financial statements for the six month period ended February 28, 2007.
TITANIUM CORPORATION HIGHLIGHTS:
A number of development programs are continuing through the current quarter including the hydrocarbon work, titanium development, and the evaluation of drill cores related to the oil sands future mining program and daily pipeline sampling to assess the overall heavy minerals resource. Following the successful completion of these programs, Titanium Corporation expects to commence a final engineering feasibility study later in 2007. During the quarter, Titanium Corporation continued its program to add mineral sands, oil sands and financial markets experience to the Board with the appointment of Gordon Pridham as a Director. Mr. Pridham brings extensive financial markets experience in Canada, the United States and Asia. Three long serving Directors retired during the period and the Board is now comprised of seven members - five independent and two management Directors.
Titanium Corporation continues to maintain a strong balance sheet with a cash position of $21 million at the end of the quarter, no debt and expenses controlled to budget.
Titanium Corporation's financial statements and MD& A for the second fiscal quarter of 2007 are available on SEDAR at www.sedar.com and on Titanium Corporation's website at www.titaniumcorporation.com .
Titanium Corporation Inc. will host an update conference call at 11:00 am Toronto/NewYork time (EST) on Monday, April 23, 2007. The North American toll-free conference call dial-in number is 1-866-585-6398 and the local/international dial-in is 416-849-9626. A live webcast of the conference call, including a slide presentation, will be available to all interested parties through Titanium Corporation's website www.titaniumcorporation.com or through www.investorcalendar.com . A replay of the conference call will be available until May 2, 2007; local dial-in at 416-915-1035 and toll-free dial-in at 1-866-245-6755, passcode number 172391.
About Titanium Corporation
Titanium Corporation Inc. is a Canadian company developing a commercial minerals recovery project in the Fort McMurray, Athabasca oil sands region. Through extensive research, including the construction and operation of pilot processing facilities, the Company has developed proprietary processes and technology to recover valuable titanium-bearing minerals and zircon from oil sands tailings. Titanium Corporation's technology could be applied to existing and planned mined oil sands projects with the objective of creating a new sustainable minerals industry for Canada. Titanium Corporation Inc. shares trade on the Toronto Venture Exchange (TSX.V) under the symbol TIC. For more information, please visit our website www.titaniumcorporation.com.
Disclosure regarding forward-looking information
Note: This press release does not contain forward-looking information. However, we do direct you to our risks and uncertainties statements more particularly described and updated in Titanium Corporation's Quarterly Management's Discussion and Analysis filed for the three and six months ended February 28, 2007, on SEDAR (www.sedar.com). Most notably these risks and assumptions include, but are not limited to: changes in the worldwide price of zircon; risks associated with future plans and objectives; operating or technical difficulties in connection with development activities; and development time lines and priorities. All subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
For further information:
Scott Nelson, President & CEO
Titanium Corporation Inc.
Carolyn Muir, Investor Relations
Titanium Corporation Inc.
416-955-0715 X 224
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