Titanium Corporation Announces $10 Million Funding Award by Sustainable Development Technology Canada for the Engineering Phase of the CVW Horizon Project

CALGARY, Alberta, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Titanium Corporation Inc. (the "Company" or "Titanium") (TSX-V: TIC) is pleased to announce that Sustainable Development Technology Canada (“SDTC”) has approved a $10 million contribution to the Company for the detailed engineering phase of the CVW Horizon Project. The SDTC funding is subject to successful negotiation of a Project Funding Agreement (“PFA”) with SDTC. The proposed start date for SDTC funding is January 1, 2021 subject to execution of the PFA.

“Canadian entrepreneurs are leading the global stage in developing sustainable solutions for a more sustainable future. With Titanium’s leadership in the circular economy, we will see a new minerals industry created from waste and reduce the environmental footprint of the oil sands.” Leah Lawrence, SDTC President and CEO

“We wish to thank SDTC for their continued support toward commercialization of our CVW sustainable technology. SDTC was a significant supporter in the past during the demonstration piloting phase of our technology development,” commented Scott Nelson, Titanium’s President and CEO. “SDTC has stepped forward to assist our Company and project during a particularly challenging period for clean technology innovators and all Canadians. We look forward to again working with the SDTC Team as a valued partner in delivering new environmental technologies to assist Canada’s oil sands industry reduce its environmental footprint.”

“Our Government is proud to support Canadian cleantech companies like Titanium Corporation that are helping to secure Canada’s leadership position in clean technology growth markets, while contributing to emission reduction targets,” said the Honourable Navdeep Bains, Minister of Innovation, Science and Industry. “With investments like this one through SDTC, we are helping companies grow their cleantech businesses so that all Canadians can benefit from a strong and sustainable economy, and a clean and healthy environment, both now and for the future.”

Titanium has also been awarded funding for the CVW Horizon project by Emissions Reduction Alberta, NRCan’s Clean Growth Program 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.