TORONTO, Nov. 19 /CNW/ - Titanium Corporation Inc. (TSX-V:TIC) today announced the appointment of C. Bruce Burton as a Director of the Corporation. Mr. Burton is an experienced corporate executive with more than 25 years experience in the natural resources sector.
Mr. Burton held senior management positions with BlackRock Ventures Inc., a heavy oil firm, and served as Director until its sale to Shell Canada in 2006 for $2.4 Billion.
For the past four years Mr. Burton has been Vice President and Chief Financial Officer of Dundee Precious Metals Inc. and a key member of the management team that built the Company. During his extensive career in the mining industry, he has held executive positions with Rayrock Resources Inc. and Minera Rayrock Inc. (Vice President Finance and President), Camflo Mines Inc. and Discovery West Inc.
Mr. Burton received an Honours degree in Business Administration from the University of Western Ontario, a Masters of Business Administration from York University and is a Chartered Accountant.
"Bruce Burton brings extensive experience from the mining and oil industries and exceptional financial expertise to the Board," says Titanium Corporation acting Chairman, Eric Slavens. "We are delighted to welcome him to the new team as we continue to advance our oil sands heavy minerals recovery project."
Titanium Corporation also announces the retirement of Ron Arnold from the Board of Directors. Mr. Arnold has been a Director for the past eight years and the Board wishes to thank him for his dedicated service.
In accordance with being appointed a Director of Titanium Corporation, Mr. Burton has been issued 75,000 stock options exercisable at $2.00 per share for a period of five years, subject to the Corporation's stock option plan and to regulatory approval.
About Titanium Corporation
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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.
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