Titanium Corporation Inc. announces retirement of chairman

    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
    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.

    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: snelson@titaniumcorporation.com;
Carolyn Muir, Investor Relations, Titanium Corporation Inc., (416) 955-0715 X
224, cmuir@titaniumcorporation.com

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