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August 18, 2005
Titanium Corporation reports Exercise of Warrants

TORONTO: Titanium Corporation Inc. (TSXV:TIC) is pleased to report on the exercise of share purchase warrants. As reported in the Company's last unaudited financial statements for the nine months ended May 31, 2005, there were 2,080,189 warrants outstanding exercisable at a price of $2.00 expiring on August 17, 2005. The Company advises that of these warrants, 1,899,315 were exercised prior to the expiry date resulting in the issuance of 1,899,315 common shares at the price of $2.00 per share for total proceeds of $3,798,630. These share purchase warrants were part of a share offering completed in February 2004.

Titanium Corporation advises that the total issued and outstanding common shares after the foregoing are 43,975,306 common shares.

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 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.


Disclosure regarding forward-looking statements
Note: This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations which are based on assumptions and are subject to a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These risks and uncertainties are more particularly described on page 24 in the Risk Factors section of Titanium Corporation's Annual Information Form which was filed on SEDAR (www.sedar.com) January 18, 2005, as updated by the Corporation's Annual and Quarterly Management's Discussion and Analysis. Most notably these risks and assumptions include risks associated with the market price of zircon and titanium products, costs of construction and operation of facilities, and assumptions about construction, timing and delivery. These and 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: 
George Elliott, Chairman
(416) 955-0715 X 222
pr@titaniumcorporation.com

Scott Nelson, President & CEO 
(403) 561-0439
snelson@titaniumcorporation.com

You can view the Next News Releases item: August 25, 2005, Titanium Corporation Announces Closing of Equity Offering

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