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EDMONTON, ALBERTA--(Marketwire - Dec. 19, 2012) - Titanium Corporation Inc. (the "Company") (News - Market indicators) today announced the Company was invited to appear before the Standing Committee of Natural Resources of the House of Commons investigating innovation in Canada's energy sector and appeared before the Committee in Ottawa on November 29, 2012. The written submission (http://www.titaniumcorporation.com/i/pdf/Titanium_Corp-Commons_Committee_Submission-29-11-20.pdf) and audio recording (http://www.titaniumcorporation.com/i/misc/0002f5ba-clipped.mp3) of the Company's testimony can be found on the Company's web site by following the links noted for each.
The Company's testimony focused on the economic and environmental opportunities to recover valuable minerals, bitumen and solvents currently being lost in oil sands tailings ponds. The recovery of these resources would reduce emissions, recover water and improve remediation of tailings ponds, reducing the environmental footprint of the oil sands industry. In addition to the additional recovery of oil sands resources, a new Canadian minerals export industry would be created. The Company's President and Chief Executive Officer, Scott Nelson provided the Committee with an overview of the Company's successful R&D and demonstration piloting programs which led to the development of new technologies to deliver these benefits. The Canadian and Alberta Governments are supporting the Company's development including Grant funding of $10 million in addition to the Company's investment of over $50 million.
About Titanium Corporation Inc.
Titanium Corporation Inc. is developing technology to recover heavy minerals and bitumen contained in the waste tailings streams from oil sands mining operations near Fort McMurray, Alberta. The potential benefits from this "Creating Value from Waste ™" proposition are twofold. First, the recovered bitumen and minerals will have intrinsic value and will provide shareholders with a source of revenue. Second, by using an integrated approach to recovering minerals and bitumen, there is potential for industry-wide environmental benefit. 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 August 31, 2012 on SEDAR (www.sedar.com). Most notably these risks include, but are not limited to risks associated with the advancement of research programs including operational or technical difficulties in connection with research activities; development timeline delays and problems, including unforeseen development costs; reliance on a small number of people, access to and cost of tailings, competition and intellectual property protection and changes to environmental laws and regulations.