Titanium Corporation Inc.

Titanium Corporation Inc.

February 24, 2005 16:27 ET

Titanium Corporation: Stock Option Grant


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TITANIUM CORPORATION INC.

TSX VENTURE SYMBOL: TIC

FEBRUARY 24, 2005 - 16:27 ET

Titanium Corporation: Stock Option Grant

TORONTO, ONTARIO--(CCNMatthews - Feb. 24, 2005) - Titanium Corporation
Inc. (the "Corporation") (TSX VENTURE:TIC) today announced that further
to the previously announced appointment of Scott Nelson as President and
CEO, the board of directors has approved issuance of 500,000 options to
Mr. Nelson, all exercisable at $3.40 per share for a period of five
years from date of grant, subject to the Corporation's stock option plan
and to regulatory approval. In keeping with the policies of the TSX
Venture Exchange (the "Exchange") and the Corporation's stock option
plan, these options will be subject to a four month Exchange hold period
from date of grant and subject to Mr. Nelson's stock option agreement
shall vest in stages as follows: one-third after 12 months, a further
one-third after 24 months and the remainder after 36 months.

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Titanium Corporation Inc.
    George Elliott
    Executive Chairman
    (416) 955-0715 X 222
    (416) 955-0790 (FAX)
    pr@titaniumcorporation.com
    www.titaniumcorporation.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.