TORONTO: Titanium Corporation Inc. (the "Corporation") (TSXV:TIC) today announced that on February 23, 2006, the board of directors approved the issuance of 75,000 stock options to Mr. George Elliott, Chairman of the Corporation, and 25,000 options to each of Art Ditto, Bill Welsh, Ron Arnold, Stephen Rankin, Eric Slavens and Malcolm Macpherson, all directors of the Corporation. These options are exercisable at $2.75 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 (the "Exchange") and the Corporation's stock option plan, these options shall vest in stages over a period of 18 months and will be subject to a four month Exchange hold period.
About Titanium Corporation
Titanium Corporation Inc. is a Toronto-based mineral development company whose shares are listed on the TSX Venture Exchange under the symbol "TIC", U.S. clearing symbol "TITUF", CUSIP Number: 88833T104. The Company's mission is to become the first titanium and zircon sand producer from Canada's oil sands. Through extensive research, including the construction and successful operation of a pilot facility, the Company has developed proprietary technology to recover valuable titanium-bearing minerals and zircon from oil sands tailings. For more information, please visit www.titaniumcorporation.com.
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
Scott Nelson, President & CEO
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