News Releases

July 28, 2015
Titanium Corporation Reports Fiscal 2015 Third Quarter Results and Update on Progress

CALGARY, ALBERTA - July 28, 2015 - Titanium Corporation Inc. (the "Company" or "Titanium") (TSX-V: TIC)today released a business update and its results for the third quarter ended May 31, 2015.

"The Company is progressing well through the oil sands operators' due diligence processes and working with third parties on innovative financing structures that would support commercial implementation," commented Scott Nelson, Titanium's President and Chief Executive Officer. "Our technology offers advantages to oil sands operators in meeting the challenges of low oil prices and new climate change regulations."

The following are highlights of relevant Company, industry, and Government developments:

  • Oil sands operators are continuing confidential discussions and detailed technical and economic reviews of the Company's proposals to implement froth treatment tailings technologies. The Company has advanced flexible business models whereby customers may license technology, build certain of the facilities or have the Company, together with partners, build and operate.
  • In response to continuing low oil prices in 2015, oil sands operators are focusing on opportunities to increase production from existing operations and reduce operating expenses. To address these industry requirements, the Company is marketing its technology's potential to recover additional bitumen production from tailings at a direct operating cost below $10 per barrel as well as potential operating cost savings related to: emissions and volume reductions from tailings; energy cost reductions through hot water recovery and reuse; improved tailings thickening, and reductions in hazardous materials.
  • The industry is facing increased requirements to reduce emissions under recently announced Alberta Government climate change legislation. Greenhouse gas reduction requirements were increased from the current 12% to 20% and the cost of greenhouse gas technology fund credits was doubled from the current $15 per tonne to $30 per tonne, both over the next two years. The company's technology has the potential to reduce tailings emissions by recovering bitumen and solvents.
  • There has also been increased regulation of oil sands tailings through the Alberta Government's new "Tailings Management Framework for the Mineable Athabasca Oil Sands" which requires the progressive treatment and reclamation of tailings during the life of operations. The operators are currently developing plans to meet the new framework, including the potential inclusion of the Company's technology.
  • The environmental impacts of froth treatment tailings have been highlighted in a recently released independent report prepared for the Canadian Government which cited Titanium's technology as a solution for froth treatment tailings. The report (titled "Council of Canadian Academies, 2015. The Expert Panel on the Potential for New and Emerging Technologies to Reduce the Environmental Impacts of Oil Sands Development") found that "air pollutants arising from decomposition of residual hydrocarbons in tailings ponds can be treated by keeping froth treatment tailings, the major source of such contaminants (e.g., solvents, VOC's) out of the tailings ponds and treating them separately" and noted that separate treatment "...would reduce fugitive emissions and toxicity that remain in the froth tailings....avoid expensive reclamation issues unique to this material.....allow for the recovery of bitumen and metals."
  • Establishing a new heavy minerals industry, by deploying the Company's tailings minerals recovery technology, continues to represent an attractive potential opportunity to increase resource recovery and economic diversification. In contrast to oil prices, zircon and titanium prices have remained stable during 2015, with industry forecasts for moderate growth in demand and pricing in future years.
  • To ensure adequate capital resources are available during commercialization, the Company is continuing efficiency programs to reduce expenses, conserve cash and evaluate funding options. The Company's executive officers are receiving a significant portion of their compensation in share units and Directors receive all of their compensation in share units to both conserve cash and further align with shareholder's interests.


Titanium is focused on achieving long-term financial success by taking its innovative CVW™ technologies into commercial production. Until a commercial investment is made, a plant built and operating at an oil sands site has commenced, the Company expects to incur losses. However, with the completion of extensive pilot testing on its CVW™ technology, research & development ("R&D") investment has been substantially reduced as the Company focuses its resources on commercialization.

Net Loss - Net loss for the third quarter ended May 31, 2015 was $0.5 million compared to $0.7 million for the three month period ended May 31, 2014. The reduction in net loss by $0.2 million relates to the completion of the minerals development work concluded in fiscal 2014 and reductions in overhead costs. With the completion of pilot testing and as a development stage company, Titanium's net loss for the period is in line with expectations.

Research & Development ("R&D") - For the three month period ended May 31, 2015, R&D spending was $0.2 million and consisted primarily of compensation for technical staff and rent, equipment storage fees, and patent filing and maintenance fees which was consistent with the corresponding period of 2014. Until a commercial arrangement is reached, R&D expenses in the future quarters will be consistent with the current quarter levels.

General & Administrative ("G&A") - G&A expense was $0.3 for the three month period ended May 31, 2015 as compared to $0.5 million for the three month period ended May 31, 2014 a reduction of $0.2 million as a result of cost reduction programs. To preserve cash and with the uncertainty related to timing of commercial projects, the Company increased the level of equity based compensation plans in lieu of cash compensation for management and directors.

Cash Position - The Company had $1.2 million in cash at May 31, 2015 compared to $2.6 million at August 31, 2014. The decrease in cash of $1.4 million for the six month period ended May 31, 2015 relates to general overhead costs offset by the receipt of a $0.2 million in refundable research tax credits. Currently, the Company is evaluating funding options to ensure adequate capital resources through the commercialization period.

To view the Company's management discussion and analysis and interim condensed financial statements for the three and six month period ended May 31, 2015, please visit our website at or SEDAR at

About Titanium Corporation Inc.

Titanium Corporation's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. Our technology reduces the environmental impact of oil sands tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and minerals from tailings, preventing these commodities from entering tailings ponds and the atmosphere: volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be thickened more readily. A new minerals industry will be created commencing with the production and export of zircon, an essential ingredient in ceramics. The Company's shares trade on the TSX-V under the symbol "TIC". For more information please visit the Company's website at

Disclosure regarding forward-looking information

This news release contains forward-looking statements and information that reflects the current expectations of management about the future results, performance, achievements, prospects or opportunities for Titanium, including statements relating to advantages of the Company's technology and the creation of a mineral sands industry. These statements generally can be identified by use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "believe", "project", "should" or "continue" or the negative thereof or similar variations.

Forward-looking information is presented in this news release for the purpose of assisting investors and others in understanding certain key elements of our financial results and business plan, as well as our objectives, strategic priorities and business outlook, and in obtaining a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information, by its very nature, is subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking information and that our business outlook, objectives, plans and strategic priorities may not be achieved. In particular, the forward-looking information contained in this news release is based on the results of our research, pilot programs, and studies described in our management's discussion & analysis ("MD&A") under the heading "Titanium's Business". The Company has not commercially demonstrated its technologies and there can be no assurance that such research, pilot programs, and studies will prove to be accurate as actual results and future events could differ materially from those expected or estimated in such forward-looking statements. As a result, we cannot guarantee that any forward-looking information will materialize and we caution you against relying on any of this forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information.

Additional information on these and other factors are disclosed in our MD&A, including under the heading "Discussion of Risks", and in other reports filed with the securities regulatory authorities in Canada from time to time and available on SEDAR (

The forward-looking information contained in this news release describes our expectations as of July 29, 2015 and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking information contained in this news release, whether as a result of new information, future events or otherwise.

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:

Scott Nelson
President & CEO
Tel: (403) 561-0439

Andreas Curkovic
Investor Relations
Tel: (416) 577-9927

You can view the Next News Releases item: October 1, 2015, Titanium Corporation Announces Agreements with Syncrude Canada

You can view the Previous News Releases item: June 9, 2015, Titanium Corporation Unaware Of Any Material Change

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