Tiomin Resources Inc.

Tiomin Resources Inc.

March 05, 2009 09:11 ET

Tiomin Schedules Annual and Special Meeting of Shareholders for May 26, 2009

TORONTO, ONTARIO--(Marketwire - March 5, 2009) - The Board of Directors of Tiomin Resources Inc. (TSX:TIO) ("Tiomin") has called an annual and special meeting of the shareholders of Tiomin to be held on May 26, 2009 (the "Meeting"). The Meeting has been called as Tiomin's annual and special meeting and also in response to a requisition made pursuant to section 143 of the Canada Business Corporations Act.

Jaguar Financial Corporation ("Jaguar") previously requisitioned a meeting of Tiomin's shareholders for the purpose of removing the current Board of Directors of Tiomin and electing a slate of directors to be proposed by Jaguar. Jaguar's alternate slate of directors will be considered by shareholders at the Meeting, along with management's proposed slate of directors. At this time, an alternative slate of directors has not been proposed by Jaguar.

At the Meeting, shareholders will also be asked to approve and ratify Tiomin's shareholder rights plan agreement between Tiomin and Computershare Investor Services Inc. (the "Rights Plan"), which Tiomin previously announced on December 10, 2008. The Rights Plan is designed to encourage fair treatment of shareholders in connection with any take-over bid for Tiomin and to provide the Board of Directors with more time to consider any unsolicited take-over bid for Tiomin and pursue, if appropriate, other value enhancing alternatives to allow shareholders to receive full and fair value for Tiomin's common shares. A copy of the Rights Plan is available on Tiomin's website at www.tiomin.com and on SEDAR at www.sedar.com.

About Tiomin Resources Inc.

Tiomin is enhancing shareholder value by the acquisition, exploration and development of industrial mineral, precious and base metal projects. Jinchuan, one of China's largest mining companies, owns approximately 18.7% of Tiomin.

Tiomin has four main assets:

1) approximately $17.3 million of working capital (after the Feb. 20th Kivu Gold Corp. investment);

2) 49% interest in the Pukaqaqa copper and gold project in Peru;

3) 100% interest in the Kwale titanium project in Kenya; and

4) 33.5% interest in Kivu Gold Corporation, a mineral exploration focused on sub-Saharan Africa.

Tiomin's share price currently only reflects the value of its working capital position and it receives no value for its other assets in Peru or Kenya. Tiomin has an outstanding memorandum of understanding with Jinchuan whereby Jinchuan would acquire 70% of Tiomin Kenya Limited ('TKL') a wholly owned subsidiary of Tiomin that owns 100% of the Kwale titanium project, for US$25 million invested into TKL and a commitment to finance and build the project, 70%.

To find out more about Tiomin Resources Inc., please visit the company website at www.tiomin.com.

Certain of the information contained in this news release constitutes 'forward-looking statements' within the meaning of securities laws. Such forward-looking statements, including but not limited to those with respect to the prices of metals and minerals, estimated future production and estimated costs of future production involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any forecast results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual prices of copper and gold, the actual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the documents of the Company filed from time to time with the Ontario Securities Commission.

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