Titanium Corporation Inc.

Titanium Corporation Inc.

February 24, 2005 08:55 ET

Titanium Corporation Appoints New President & CEO


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TITANIUM CORPORATION INC.

TSX VENTURE SYMBOL: TIC

FEBRUARY 24, 2005 - 08:55 ET

Titanium Corporation Appoints New President & CEO

TORONTO, ONTARIO--(CCNMatthews - Feb. 24, 2005) - Titanium Corporation
Inc. (TSX VENTURE:TIC) today announced the appointment of Scott Nelson
to the position of President and Chief Executive Officer and his
election as a director of the Corporation. Mr. Nelson's appointment
reflects Titanium Corporation's long-term strategy of recruiting top
business executives to lead the corporation as it continues its progress
towards commercialization of its Oil Sands Project. Mr. Nelson's
contract with the Corporation is for a term of three years. George
Elliott has stepped down as President and Chief Executive Officer and
will continue as Titanium Corporation's Executive Chairman for a period
of not less than 18 months. Mr. Elliott's appointment enables Titanium
Corporation to continue to benefit from the knowledge and experience
about the affairs of the Corporation he has gained over the last four
years and to benefit from an orderly management transition.

Mr. Nelson is a leading Canadian executive with more than 25 years
experience in resource based, capital intensive companies. He has held
key management positions with Amoco Canada Petroleum Company Ltd., Dome
Petroleum Ltd., The Irving Group, IBM Canada and Amerada Hess Canada
Ltd. As President, Mr. Nelson led the rapid growth of Amerada Hess, the
tripling of production and the eventual sale of the Company to Petro
Canada.

"The appointment of Scott Nelson demonstrates our ongoing commitment to
ensure Titanium Corporation has the right leadership in place to guide
the company's growth and development," says Titanium Corporation Inc.
Executive Chairman, George Elliott. "Mr. Nelson is an outstanding
business leader, and we are confident that under his guidance, Titanium
Corporation will continue on its path to become a major commercial
mineral processor. I am looking forward to working alongside Scott and
combining my background and exposure to the titanium and zircon
industries with his operational expertise".

"I am very pleased to be joining Titanium Corporation at this important
stage in its development," says Scott Nelson. "I believe Titanium
Corporation is poised to become one of the world's premier suppliers of
high-grade titanium-bearing minerals and zircon, and I look forward to
working with the Titanium team and reaching our full potential".

About Titanium Corporation

Titanium Corporation Inc. is a Toronto-based mineral exploration and
development company whose shares are listed on the TSX Venture Exchange
under the symbol "TIC", U.S. clearing symbol "TITUF", CUSIP Number:
88833T104. The Corporation's mission is to become the first titanium and
zircon sand producer from Canada's oil sands. The Company also controls
a well advanced 102 square kilometer mineral sand deposit located on the
Shubenacadie River, Nova Scotia, Canada. For more information, please
visit www.titaniumcorporation.com.

Note: This press release contains projections and forward-looking
statements regarding future events. Such forward-looking statements are
not guarantees of future performance of the Corporation and are subject
to risks and uncertainties that could cause actual results and the
Corporation's plans and objectives to differ materially from those
expressed in the forward-looking statements.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Titanium Corporation Inc.
    George Elliott
    Executive Chairman
    (416) 955-0715 X 222
    E-mail: pr@titaniumcorporation.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.