Titanium Corporation Reports Fiscal Year 2012 Third Quarter Results and Operational Update

Titanium Corporation Inc. (the "Company") (TSX VENTURE:TIC) today released
financial results for the third quarter ended May 31, 2012 and provided a
progress update of recent corporate and operational activities.


HIGHLIGHTS:



--  During the quarter, the Company has been engaged with oil sands
    operators conducting business and engineering reviews. An external
    engineering review is underway for one of the oil sands operating sites.
    This engineering work involves site specific facilities location,
    infrastructure and review of the SNC-Lavalin prepared engineering cost
    estimates. For another oil sands firm, the Company has submitted a
    revised project proposal based on review and feedback related to an
    initial proposal. 
--  The Company has been conducting an active Government relations program
    and is encouraged by the interest and support. The Alberta Government is
    in the process of developing fiscal programs relevant to the recovery of
    resources from oil sands waste streams. Royalty and other fiscal terms
    are needed for the development of a new minerals industry and associated
    recovery of bitumen lost in tailings. 
--  Discussions continued during the quarter with potential strategic
    partners. The Company has attracted interest from international firms
    that would bring technical, marketing and financial resources to joint
    ventures. 
--  The Company continued to maintain a strong balance sheet with a cash
    position of $9.3 million at the end of the third quarter. 



Scott Nelson, the Company's President and Chief Executive Officer said, "Our
objective is to commercialize our froth treatment tailings solution, creating a
new high-value minerals industry, recovering lost bitumen and solvents, and
delivering sustainable environmental benefits for all stakeholders. We are
encouraged by the progress we see underway by industry and Government in support
of that goal."


FINANCIAL OVERVIEW

Net loss decreased to $0.4 million for the three month period ended May 31, 2012
compared to a loss of $3.2 million for the three month period ended May 31,
2011. The decrease in net loss relates primarily to the decrease in research and
development costs in the current quarter as compared with the prior year's
quarter which included operation of the demonstration pilot. R&D spending in the
quarter was $0.3 million which was offset by the receipt of a refundable tax
credit of $0.4 million from the Alberta Scientific Research and Experimental
Development ("SR&ED") tax credit program for eligible R&D expenditures incurred
in the province in the 2010 fiscal year. Stock based compensation expense was
$1.1 million lower in the current quarter than for the same three month period
ended May 31, 2011 which related mainly to performance based stock option
expense.


Research & Development - R&D spending in the quarter was $0.5 million for the
three month period ended May 31, 2012 as compared to $1.6 million for the three
month period ended May 31, 2011. Spending in the current quarter decreased by
$1.1 million over the comparable period ended May 31, 2011, as the pilot was
decommissioned in May of 2011 and R&D expenses decreased as the projects were
substantially completed.


General & Administrative - G&A expense was $0.5 million for the three month
period ended May 31, 2012, lower than the comparable period in fiscal 2011 by
$0.8 million. The decrease in G&A, for both the three month and nine month
period ended May 31, 2012 relates primarily to the decrease in stock based
compensation expense. All other G&A expenses were consistent with the prior
periods except for an increase in professional fees and consulting related to
pre- commercialization activities.


Cash & Interest income - The Company's cash position at May 31, 2012 was $9.3
million compared to $12.0 million at August 31, 2011. The decrease in cash
relates to the Company funding its overheads and on going R&D projects related
to minerals and paraffinic tailings.


To view the Company's Management Discussion and Analysis and Financial
Statements for the quarter ended May 31, 2012, please visit our website at
www.titaniumcorporation.com or SEDAR at www.sedar.com.


About Titanium Corporation Inc.

Titanium Corporation Inc. is developing technology to recover heavy minerals and
bitumen contained in the waste tailings streams from oil sands mining operations
near Fort McMurray, Alberta. The potential benefits from this "Creating Value
from Waste(TM)" proposition are twofold. First, the recovered bitumen and
minerals will have intrinsic value and will provide shareholders with a source
of revenue. Second, by using an integrated approach to recovering minerals and
bitumen, there is potential for industry-wide environmental benefit. 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, 2012 on SEDAR (www.sedar.com). Most notably these risks include, but are
not limited to risks associated with the advancement of research programs
including operational or technical difficulties in connection with research
activities; development timeline delays and problems, including unforeseen
development costs; reliance on a small number of people, access to and cost of
tailings, competition and intellectual property protection and changes to
environmental laws and regulations.
Titanium (TSXV:TIC)
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