EDMONTON, ALBERTA--(Marketwire - Dec. 12, 2012) - Titanium Corporation Inc. (the "Company") (TSX VENTURE:TIC) today announced securing a critical patent for its innovative technology which recovers hydrocarbon diluents (solvents) from oil sands tailings. Titanium has been awarded Canadian Patent 2 712 725 (Moran.et.al) which improves solvent recovery beyond current industry practices, reducing the amount of solvent discharged to tailings ponds and the atmosphere. The Company believes that implementation of this new technology will significantly reduce Volatile Organic Compound ("VOC") emissions from oil sands froth treatment tailings as well as recover valuable products being lost in tailings ponds.
Scott Nelson, the Company's President and Chief Executive Officer said, "Achieving this most recent patent is another important milestone in the commercialization of our technology. This patent bolsters our unique position in tailings reclamation and resource recovery with the only technology that has successfully treated oil sands froth treatment tailings under extended, advanced testing conditions at CanmetENERGY. Our technologies provide comprehensive, industry wide solutions to the environmental remediation of tailings, while the recovery of minerals, bitumen, solvents and water create new economic opportunities for all stakeholders."
Over the five year program to develop this latest patented solution, the Company's Dr. Kevin Moran led a research team which included scientists from the Gas Technology Institute (GTI) in Chicago, one of North America's leading developers of commercial technologies that provide economic value for the energy industry. Dr. Moran also collaborated with Dr. D.-Y. Peng of the University of Saskatchewan, noted around the globe for his research in thermodynamics.
Stakeholders are actively supporting the Company's programs and grant funding has been provided by the Alberta Government, the Canadian Government's Sustainable Development Technology Canada ("SDTC") and the National
About Titanium Corporation Inc.
Titanium Corporation Inc. is developing technology to recover heavy minerals and bitumen contained in the waste tailings streams from oil sands mining operations near Fort McMurray, Alberta. The potential benefits from this "Creating Value from Waste ™" proposition are twofold. First, the recovered bitumen and minerals will have intrinsic value and will provide shareholders with a source of revenue. Second, by using an integrated approach to recovering minerals and bitumen, there is potential for industry-wide environmental benefit. The Company's shares trade on the TSX-V under the symbol "TIC". For more information visit the Company's website at www.titaniumcorporation.com.
Disclosure regarding forward-looking statements
Certain statements contained herein regarding the Company and its plans constitute "forward-looking statements" within the meaning of Canadian securities laws. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is a significant risk that predictions, forecasts, conclusions, projections, and other forward-looking statements will not prove to be accurate. We direct you to our statement of risks and uncertainties more particularly described and updated in the Company's Management Discussion and Analysis filed for the period ended August 31, 2012 on SEDAR (www.sedar.com). Most notably these risks include, but are not limited to risks associated with the advancement of research programs including operational or technical difficulties in connection with research activities; development timeline delays and problems, including unforeseen development costs; reliance on a small number of people, access to and cost of tailings, competition and intellectual property protection and changes to environmental laws and regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.