Titanium Announces Award of Engineering Contracts
CALGARY, Alberta, April 03, 2018 (GLOBE NEWSWIRE) -- Titanium Corporation Inc. ("Titanium" or the "Company") (TSX-V:TIC) is pleased to announce the award of engineering contracts for the front end engineering design (the "FEED") related to implementation of the Company's CVW™ technology at Canadian Natural Resources Ltd.'s Horizon oil sands site. Stantec Inc. has been awarded the engineering contract for the FEED of the onsite concentrator and minerals separation facilities including site integration and services. IHC Robbins Pty Ltd. has been awarded the engineering contract for services related to the minerals separation process design portion of the FEED.
"We look forward to working with these two excellent firms," commented Scott Nelson, President and Chief Executive Officer of Titanium. "Stantec is an Alberta-based top tier global design and delivery firm with relevant oil sands experience. IHC Robbins are mineral sands experts providing a comprehensive range of consulting engineering services and equipment supply to the international mineral sands industry."
The FEED project is being supported by Emissions Reduction Alberta through the award of grant funding of up to the lessor of $5.0 million or 50% of engineering design. Titanium and Canadian Natural are funding $1.5 million and up to $3.7 million, respectively.
About Titanium Corporation Inc.
Titanium's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The Company is working with Canadian Natural Resources Ltd. on front end engineering design for potential deployment of CVW™ at Canadian Natural's Horizon oil sands site. The Company's technology reduces the environmental impact of oil sands tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and minerals from tailings, preventing these commodities from entering tailings ponds and the atmosphere; volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be remediated more readily. A new minerals industry will be created commencing with the production and export of zircon, an essential ingredient in ceramics. The Company's shares trade on the TSX Venture Exchange under the symbol "TIC". For more information, please visit the Company's website at www.titaniumcorporation.com.
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.
For further information, contact:
Scott Nelson
President & CEO
Tel: (403) 561-0439
Email: snelson@titaniumcorporation.com
David Feick
Investor Relations, LodeRock Advisors
Tel: 403-831-7557
Email: david.feick@loderockadvisors.com