Interim Chairman appointed
TORONTO, Aug. 20 /CNW/ - Titanium Corporation (TSX.V:TIC) (the "Company") today announced that following an eight year term of leadership and dedicated service, Chairman and Director George D. Elliott is retiring effective August 31, 2007. Eric W. Slavens, the Company's Lead Independent Director and Audit Chair, will act as Interim Chairman until a new Chairman is appointed by the Board of Directors.
Mr. Elliott has been instrumental in conceiving the strategy to recover titanium and zircon from Canada's vast oil sands resource, marshalling resources and leading the development of Titanium Corporation's heavy mineral recovery project.
"Throughout the early days of research; to the construction of our world class pilot facilities, to the current on-site testing; developing a new minerals resource for Canada has been an exciting and gratifying journey," says Mr. Elliott. "I wish Titanium Corporation continued success as the project advances."
On behalf of all shareholders, the Board wishes to recognize and thank Mr. Elliott for his vision, leadership and many contributions to Titanium Corporation's progress.
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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