(MENAFN- GlobeNewsWire - Nasdaq) CALGARY, Alberta, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Titanium Corporation Inc. (the "Company" or "Titanium") (TSX-V: TIC) is pleased to announce that the Company and Natural Resources Canada have signed a Non-Repayable Contribution Agreement ('the Agreement') for $1.96 million of funding of eligible expenditures of a work program for the period April 1, 2020 to March 31, 2021 as part of the detailed engineering phase of the CVW™ Horizon Project.
The Clean Growth Program is a Government of Canada collaborative approach to advance clean technologies toward commercial readiness so that natural resources operations can better reduce their impacts on air, land, and water, while enhancing competitiveness and creating jobs.
'The government continues to support innovative and sustainable projects to lower emissions and save Canadians money,' said the Honourable Seamus O'Regan Jr., Canada's Minister of Natural Resources.
'We wish to thank Natural Resources Canada's Clean Growth Program for their support toward commercialization of our CVW™ sustainable technology,' commented Scott Nelson, Titanium's President and CEO. 'This program and funding are invaluable in meeting the environmental challenges and economic opportunities facing Canada's natural resources operations.'
The work program includes validation engineering for CVW™ Horizon Project facilities including the concentrator plant, minerals plant and transload facility and associated Class 3 capital cost estimates. During the first quarter of 2021, the program will focus on minerals sample testing, minerals process engineering work to validate the resizing of the minerals plant and the front-end engineering design of a transload facility for rail shipment of minerals products.
Titanium has also been awarded funding for the CVW™ Horizon project by Sustainable Development Technology Canada, Emissions Reduction Alberta, and Environment and Climate Change Canada's Low Carbon Economy Fund.
About Titanium Corporation
Titanium's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. Our technology reduces the environmental impact of oil sands froth treatment tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents, heavy minerals and water 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 thickened more readily. A new minerals industry will be created commencing with the production and export of zircon and other titanium-based minerals. The Company's shares trade on the TSX-V under the symbol "TIC". For more information please visit the Company's website at www.titaniumcorporation.com.
About Natural Resources Canada's Clean Growth Program
Natural Resources Canada's Clean Growth Program is a $155-million investment fund for clean technology research, development and demonstration in Canada's energy, mining and forest sectors. The program helps advance emerging clean technologies toward commercial readiness so that natural resource operations can further reduce their environmental impacts such as GHG emissions while enhancing competitiveness and creating jobs.
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:
Scott Nelson
President & CEO
(403) 561-0439
Jennifer Kaufield
Vice President Finance & CFO
(403) 874-9498
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