TIC Titanium Corporation Inc

Titanium Corporation Inc. ("Titanium" or the "Company") (TSX VENTURE:TIC) today
released financial results for the second quarter ended February 28, 2013. 


Titanium continued its drive toward commercialization in the quarter, as its
technology received strong government endorsements. The federal government
recognized the Company's technology in its annual budget as an example of
successful innovative clean technologies being supported by Sustainable
Development Technologies Canada ("SDTC"). The National Research Council also
recently awarded funding to the Company. The Alberta government is conducting
reviews of a fiscal structure required to clarify the fiscal and royalty terms
that will govern future major project investments using this new technology.


There is increased Government and industry focus on reducing greenhouse gas
("GHG") emissions, particularly related to oil sands crudes in light of pending
and future approvals of pipeline projects and access to international markets.
The Company's technology would provide environmental benefits highly relevant to
these issues, reducing GHG and volatile organic compound ("VOC") emissions
related to froth treatment tailings and tailings ponds.


On the research front, Titanium completed a four month heavy mineral concentrate
("HMC") pilot and conducted paraffinic testing programs at CanmetENERGY.
Titanium's portfolio of intellectual property also expanded in the quarter with
the award of three key patents.


Scott Nelson, the Company's President and Chief Executive Officer said, "We
continued to execute our technical programs successfully, attract government
support and demonstrate the economic and environmental benefits of our patented
technologies. The recent escalation of environmental concerns and market access
restrictions affect all players in the oil sands industry. We know that our
technology can deliver solutions and we are working constructively with the
industry to finalize the route to commercial implementation."


HIGHLIGHTS:



--  Titanium successfully completed pilot operations at CanmetENERGY to
    produce a larger sample of cleaned HMC for minerals separation
    processing into final zircon sample products. The program produced
    approximately two tonnes of HMC which will be shipped to Australia for
    further testing. In parallel, a paraffinic pilot program was also
    conducted at CanmetENERGY to further refine this technology which is at
    an earlier stage of development. These programs were funded in part by a
    $1.4 million SDTC Grant received in November, 2012. 
--  In support of the paraffinic tailings research program at CanmetENERGY,
    Titanium was awarded a further $0.5 million grant under the National
    Research Council's Industrial Research Assistance Program ("NRC-IRAP")
    to fund a portion of the program costs. Both the Alberta and Canadian
    governments have been highly supportive of the Company's programs with
    grants to date of $10.4 million. 
--  Titanium announced the awards of key patents relating to the removal of
    bitumen from heavy mineral concentrates and the recovery of bitumen and
    solvents from oil sands tailings. These patents support the Company's
    proprietary solution for environmental remediation of froth treatment
    tailings and recovery of valuable products currently lost in tailings
    ponds. 
--  The Alberta government is conducting reviews of a fiscal framework
    related to the recovery of minerals and bitumen from oil sands tailings.
    The framework will provide clarity around royalties, capital cost
    treatment and other fiscal terms required for planning and investing in
    the commercial projects.



FINANCIAL OVERVIEW

Net Loss - increased by $0.5 million to $1.1 million for the three month period
ended February 28, 2013 as compared to $0.6 million for the same period ended
February 29, 2012. As a development stage company, Titanium's net loss for the
period is in line with expectations.


Research & Development - R&D expenditures, before government grant recovery, was
$1.1 million as compared to $0.6 million in the quarter ended February 29, 2012.
The increase in R&D spending relates to pilot work currently being conducted at
CanmetENERGY on larger volume paraffinic tailings and pre- commercialization
minerals development. These R&D expenses have been partially offset in the
quarter by $0.5 million in SDTC and IRAP government grant recoveries.


General & Administrative - G&A expense was $0.6 million for the three month
period ended February 28, 2013 compared to $0.2 million for the same period
ended February 29, 2012. The increase in G&A expenditures in the current quarter
is mainly attributed to the recovery of stock based compensation expense of $0.4
million in the three month period ended February 29, 2012 related to the
forfeiture of stock options. Other than the recovery of non cash stock based
compensation, all other G&A expenditures in the current quarter remained
consistent with the three month period ended February 29, 2012.


Cash Position - Titanium's cash position at February 28, 2013 was $6.7 million
compared to $8.4 million at August 31, 2012. The cash balance decreased by $1.7
million since August 31, 2012. R&D expenditures incurred for the six month
period ended February 28, 2013 were $2.7 million which was off set by the
receipt of $1.3 million of SDTC grant funding. In addition, the Company funded
G&A expenditures of $1.0 million for the six month period ended February 28,
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 twelve 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 February 28, 2013, please visit our website at
www.titaniumcorporation.com or SEDAR at www.sedar.com.


GRANT OF DEFERRED SHARE UNITS AND STOCK OPTIONS

The Company also announces that the Board of Directors has granted $50,000 of
deferred share units of the Company ("DSUs"), or 55,555 DSUs, to each of our six
non-executive directors to align the interests of the non-executive directors
with the long term performance of the Company. The DSUs were priced at the
closing price of the Company's common shares on April 29, 2013, being the last
trading day preceding the grant. The DSUs vested on grant and will be settled in
cash at the time of the non-executive director's retirement from the Board of
Directors based on the market price of the Company's share at the time of
retirement.


Finally, the Company announces that it has issued a total of 950,000 stock
options to certain executive officers of the Company in accordance with the
Company's shareholder approved stock option plan. The stock options are
exercisable at a price of $1.00 per share, expire in five years and vest as to
1/6th every three months, for a period of 18 months, following the date of
grant.


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 which 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
February 28, 2013 and annual information form for the year ended August 31, 2011
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.


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

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