Titanium
Corporation Inc. quarterly update
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:
- Completed the evaluation of
results from the Fort McMurray on-site pilot concentrator
program which achieved high recoveries of heavy minerals concentrate (HMC) of
98 to 99%. The HMC was obtained
from the Company’s pilot concentrator plant, which recovered a titanium and
zircon concentrate from oil sands tailings during October
2006.
- Commenced technical programs to
improve the removal and recovery of hydrocarbons in the minerals concentration
process and test the improvements.
- Commenced final stage testing of
zircon separation circuits at the Company’s Regina facilities and production of zircon
product samples for shipping to prospective customers.
- Commenced testing of titanium
separation circuits and final product recovery from the HMC together with
titanium market development in Asia.
- Visited prospective customers and
business partners in Asia - the world’s fastest growing market for titanium
and zircon, particularly China. Strong market demand for zircon has
continued into 2007, with reported prices exceeding US$800 per
tonne.
- Completed the evaluation of one
year’s oil sands drill core samples for heavy mineral content. Heavy minerals
were present in all of the samples and have been correlated to the tailings
samples for the period.
- Filed patent applications in
Canada and the United
States for certain proprietary processes
developed by the Company for the extraction and concentration of heavy minerals from oil sands tailings.
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
Carolyn Muir, Investor
Relations
Titanium Corporation Inc.
Titanium Corporation Inc.
403-561-0439
416-955-0715 X 224
E-mail: snelson@titaniumcorporation.com
cmuir@titaniumcorporation.com