CALGARY, ALBERTA - March 27, 2013 - Titanium Corporation Inc. (the "Company") (TSX-V: TIC) today announced a National Research Council of Canada (NRC) Industrial Research Assistance Program (IRAP) contribution agreement to assist the Company in carrying out programs related to paraffinic froth treatment tailings. The programs include heavy mineral concentrates, zircon and bitumen production as well as froth treatment tailings remediation. IRAP will provide technical advisory expertise and financial support of up to $470,000 for eligible costs related to programs currently underway at CanmetENERGY's research facilities in Devon, Alberta for completion by the end of 2013.
"The IRAP supported programs are built on our patented technologies which are ready for implementation at the three oil sands mining sites using the naphtha froth treatment process," said Scott Nelson, Titanium's President and CEO. "Paraffinic froth treatment is a newer process used by two additional sites where there are significant opportunities for our Company to recover lost resources and reduce environmental impacts".
About Titanium Corporation Inc.
Titanium Corporation Inc. has developed innovative technologies to recover bitumen, solvent, valuable heavy minerals and water from oil sands waste tailings. The benefits are twofold: the recovered bitumen, solvent and minerals will have economic value; and green benefits which will significantly reduce environmental impacts of the oil sands industry. The Company's shares trade on the TSX-V under the symbol "TIC". For more information visit the Company's website at www.titaniumcorporation.com.
Disclosure regarding forward-looking statements
Certain statements contained herein regarding the Company and its plans constitute "forward-looking statements" within the meaning of Canadian securities laws. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that predictions, forecasts, conclusions, projections, and other forward-looking statements will not prove to be accurate. We direct you to our statement of risks and uncertainties more particularly described and updated in the Company's Management Discussion and Analysis filed for the period ended November 30, 2012 on SEDAR (www.sedar.com). Most notably these risks include, but are not limited to risks associated with the commercialization of the Project on the timetable anticipated or at all; access to capital on acceptable terms to fund our commercialization plan, operational or technical difficulties in connection with research activities and building and operating the Project; uncertainty related to the cost to build and operate CVW(tm) facilities; reliance on a small number of people, access to and cost of oil sands tailings necessary to carry out the project, competition and intellectual property protection and changes to environmental laws and regulation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
President & CEO
Tel: (403) 561-0439
Tel: (416) 577-9927
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