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First phase completed on time and within budget
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TORONTO, Nov. 1 /CNW/ - Titanium Corporation Inc. ("Titanium", TSX-V:TIC)
is pleased to announce that it has completed the first phase of its 2006 Pilot
Program on-site in Fort McMurray, Alberta, to isolate a heavy minerals
concentrate from fresh oil sands tailings on time and within its original
budget of C$3 million. Titanium now begins the final stage of the Pilot
Program to optimize recovery and separation of zircon minerals from this heavy
minerals concentrate at its state-of-the-art facility in Regina.
The first phase of the 2006 Pilot Program involved the operation of a
pilot heavy minerals concentrator on-site in Fort McMurray at the oil sands
tailings site and was crucial to finalizing Titanium's process flow sheet to
achieve optimum heavy minerals recovery and separation from mined oil sands
tailings.
The second, and final, stage of the process involves further separation
of the heavy minerals concentrate produced at Titanium's pilot concentrator
through zircon separation circuits at its Regina facility. Titanium expects to
finalize the results of its Pilot Program during the first quarter of 2007.
Titanium's engineering team redesigned the heavy minerals recovery
process flow sheet following technical work carried out last year to focus the
first phase of project development on the production of zircon. An expansion
phase to produce titanium minerals will follow Titanium's planned commercial
zircon facility.
Zircon continues to remain in high demand world-wide and has experienced
significant price increases. Zircon has averaged US$725 per tonne for the
first half of 2006. It is anticipated that demand will continue to grow and
potentially exceed supply.
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.
Disclosure regarding forward-looking information
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 and updated by Titanium Corporation's Quarterly Management's
Discussion and Analysis filed for the period ended May 31, 2006, on SEDAR
(www.sedar.com). Most notably these risks and assumptions include risks
associated changes in the worldwide prices of zircon, market demand and supply
of zircon, fluctuation in exchange rates, operating or technical difficulties
in connection with development activities and development time lines and
priorities. 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.
