TIC Titanium Corporation Inc

Titanium Corporation Inc. ("Titanium" or the "Company") (TSX VENTURE:TIC)
accomplished a series of important milestones during the third quarter of 2013
that are helping advance commercialization of the Company's value extraction
technology in the Canadian oil sands. 


"We completed an important pilot program that helped verify the commercial
potential of our bitumen, solvent and mineral extraction techniques from oil
sands tailings streams," said Scott Nelson, Titanium's President and Chief
Executive Officer. 


"We also secured key Canadian patents protecting our intellectual property and
we worked with the Government of Alberta to advance a fiscal framework that
would set the economic foundation for planning and investing in commercial
projects. This fiscal framework, when approved, will provide crucial clarity on
royalties, capital cost treatment and other financial terms," Nelson said.


"Beyond Titanium's attractive economics in Creating Value from Waste(TM) in oil
sands tailings, the pilot testing of our technologies has proven to
significantly reduce emissions of greenhouse gases and volatile organic
compounds. This attractive green energy enterprise is a win-win because it
economically recovers more energy and minerals, while reducing the environmental
impacts of oil sands tailings streams and ponds," Nelson said. 


To help verify the emissions-reduction benefits of Titanium's technologies, the
Company has commissioned an international engineering firm to complete a
comprehensive and scientific analysis of the environmental benefits that these
new commercial facilities would bring to Canada's oil sands mines. 


"Preliminary results from the independent study align with the Company's
previous analyses that show Titanium's technology could help significantly
reduce greenhouse gas and other emissions from Canada's oil sands tailing
streams and ponds," Nelson said.


Looking ahead, Titanium has a clearly defined path towards commercial
operations. Important next steps include:




--  Seeing the Government of Alberta finalize fiscal terms, royalties and
    capital cost treatment for a project - policies that will bring
    essential clarity on the economic opportunities for recovering oil sands
    bitumen, solvents and minerals from tailings streams 
--  Completing front-end and project specific design and engineering for the
    first plant, along with capital and operating cost estimates 
--  Securing a commercial and operational agreement with an industry partner
    to build the first commercial bitumen, solvent and mineral recovery
    plant 



The Titanium technology is among the prioritized technologies under review by
the Canadian Oil Sands Innovation Alliance ("COSIA") - a group of oil sands
producers focused on accelerating the pace of improvement in environmental
performance in Canada's oil sands through collaborative action and innovation.


"Our bitumen and mineral recovery technologies are an ideal fit with the COSIA
work because they achieve the most desired objectives, economic investments that
deliver an environmental return," Nelson said. 


During pilot testing completed in the third fiscal quarter at CanmetENERGY,
Titanium achieved excellent recoveries of 82 percent of residual bitumen from
the oil sands froth treatment tailings stream and 98 percent of the solvents.
The pilot produced a large bulk sample of heavy mineral concentrates for
separation processing into samples of zircon, an essential material in the
worldwide ceramics industry. The pilot achieved all of its objectives at larger
scale processing. These performance levels solidify confidence for
commercializing Titanium's technology, the prime initiative the Company is
pursuing with industry and the Government of Alberta. 


THIRD QUARTER 2013 FINANCIAL OVERVIEW

As a research and development ("R&D") company, Titanium is focused on achieving
long-term financial success by taking its innovative technologies into
commercial production. Until commercial investment is made and a plant is built
and operating, the Company expects to incur losses. However, with the majority
of its pilot testing completed, R&D investment in future quarters will be
substantially reduced as the Company primarily focuses its resources on
commercialization. 


Net Loss - Net loss increased by $1.0 million to $1.5 million for the three
month period ended May 31, 2013, as compared to $0.5 million for the same period
ended May 31, 2012. With the R&D pilot testing that concluded in the quarter and
as a development stage company, Titanium's net loss for the period is in line
with expectations.


Research & Development - R&D expenditures for the three month period ended May
31, 2013, were $0.8 million as compared to a recovery of ($0.1) million in the
quarter ended May 31, 2012, due to the recognition of a $0.4 million Scientific
Research and Experimental Development refundable tax credit in the prior period.
The increase in R&D spending related to pilot work on larger volume paraffinic
tailings and pre-commercialization minerals development that was concluded in
the current quarter. The R&D expenses have been partially offset in the quarter
by $0.4 million in grant recoveries from Sustainable Development Technologies
Canada and the National Research Council's Industrial Research Assistance
Program. 


General & Administrative (G&A) - G&A expense was $0.8 million for the three
month period ended May 31, 2013, compared to $0.6 million for the same period
ended May 31, 2012. The increase in G&A expenditures by $0.2 million in the
current quarter is mainly attributed to deferred and stock based compensation
charges of $0.3 million, offset by a reduction of all other G&A expenses of $0.1
million.


Cash Position - Titanium's cash position at May 31, 2013 was $5.3 million
compared to $8.4 million at August 31, 2012. The cash balance has decreased by
$3.1 million since August 31, 2012. R&D expenditures incurred for the nine month
period ended May 31, 2013, were $3.9 million, which was offset by $1.7 million
in government grant funding. In addition, the Company funded G&A expenditures of
$1.4 million for the nine month period ended May 31, 2013. The Company has
sufficient cash and remaining grants in place to fund its R&D and G&A costs for
a period in excess of 12 months. As the Company conducts discretionary R&D and
engineering projects, consideration for eligible grant funding will be pursued. 


To view the Company's management discussion and analysis and financial
statements for the quarter ended May 31, 2013, please visit our website at
www.titaniumcorporation.com or SEDAR at www.sedar.com. 


About Titanium Corporation Inc.

Titanium Corporation Inc. has developed innovative technologies to recover
bitumen, solvent, valuable heavy minerals and water from oil sands waste
tailings. The benefits are twofold: the recovered bitumen, solvent and minerals
will have economic value; and green benefits that will significantly reduce
environmental impacts of the oil sands industry. 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
May 31, 2013 and annual information form for the year ended August 31, 2012 each
filed on SEDAR (www.sedar.com). Most notably these risks include, but are not
limited to risks associated with the commercialization of the CVW(TM) project on
the timetable anticipated or at all; access to capital on acceptable terms to
fund our commercialization plan, operational or technical difficulties in
connection with building and operating the CVW(TM) project and research
activities; uncertainty related to the cost to build and operate CVW(TM)
facilities; reliance on a small number of people, access to and cost of oil
sands tailings necessary to carry out the CVW(TM) project, competition and
intellectual property protection and changes to environmental laws and
regulation.


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 PLEASE CONTACT: 
Titanium Corporation Inc.
Scott Nelson
President & CEO
(403) 561-0439
snelson@titaniumcorporation.com


Titanium Corporation Inc.
Andreas Curkovic
Investor Relations
(416) 577-9927
acurkovic@titaniumcorporation.com
www.titaniumcorporation.com

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