TORONTO, March 31 /CNW/ - As previously announced, Titanium Corporation
Inc. ("the Company") (TSX-V: TIC) is pleased to have been awarded a
$3.5 million Energy Innovation Fund Grant from the Province of Alberta (see
news release dated March 28, 2008) to allow the Company to continue its
research into the value-added opportunities and environmental benefits of
recovering hydrocarbons and heavy minerals from mined oil sands tailings.
Titanium Corporation is matching the value of the Grant which represents
half of the total program expenditure of $7 million for a two-year project.
The funding program will be managed by Titanium Corporation and work is
expected to be contracted to a number of expert research firms like CANMET
(Federal Government) and the Saskatchewan Research Council (SRC). The research
and development program is aimed at the recovery of minerals and bitumen from
oil sands froth treatment tailings.
The Grant was conceived in large part thanks to the Province of Alberta's
interest in new projects and technologies that have potential to add value to
Alberta's resources and improve the environment.
The Government's funding and support will help Titanium Corporation
complete its research and development programs and bring the Company closer to
achieving its goal to establish a new industry recovering value from waste,
while delivering economic benefits and environmental improvements.
For more information about the $3.5 million Grant, please visit the
Announcement section of the Company's website at www.titaniumcorporation.com.
About Titanium Corporation
Titanium Corporation Inc. is a Canadian company developing a commercial
process to maximize the inherent value existing in the waste material
currently being deposited in oil sands tailings in the Fort McMurray,
Athabasca region. The Company is developing technology and processes to
integrate the recovery of heavy minerals and bitumen contained in the froth
treatment tailings of oil sands mining extraction operations. The potential
exists in such processes not only to recover previously wasted resources, but
also to simultaneously deliver environmental benefits with the objective of
creating a new sustainable 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
We 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 period ended November 30, 2007, on SEDAR
(www.sedar.com). Most notably these risks and assumptions include, but are not
limited to: risks associated with future plans and objectives including the
successful recovery of bitumen and heavy minerals; 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 TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
For further information:
For further information: Scott Nelson, President & CEO, Titanium
Corporation Inc., (403) 561-0439, E-mail: email@example.com;
Carolyn Muir, Investor Relations, Titanium Corporation Inc., (416) 955-0715 X