White Mountain Increases In-House Engineering Personnel and Provides Marketing and Titanium Metal Technology Update
SANTIAGO, Chile, Nov. 22, 2011 /PRNewswire/ -- White Mountain Titanium Corporation ("White Mountain" or the "Company") (OTC Bulletin Board: WMTM) reports that it has opened a technical project office in Santiago and further increased its complement of experienced professional engineers to seven. Reporting to Dr. Antonio Luraschi, Project Manager, a six man engineering feasibility team has been assembled with specific expertise in geology, mining and mine design, process plant design and construction, water, power, infrastructure and civils, environmental impact assessment and permitting. The in-house technical team is working closely with external consultants to fast track the Cerro Blanco project to final engineering feasibility. Further appointments will be made if and as required.
In marketing, Company personnel attended the annual TZMI Titanium Conference in Hong Kong in early November. Following a series of meetings with conference attendees, White Mountain is pleased to report that samples of its fine and ultra-fine grade concentrate have been well received and approved for purchase by a number of customers from the welding and chemical sectors of the industry. Definitive off-take agreements for fine grade concentrate are currently being finalized with discussions focused on price and annual tonnage. Further details will be made available in due course.
With respect to titanium metal technology, in September, 2010 White Mountain acquired a sub-license for the Chinuka Process and since that time has been funding lab scale research on this technology at the University of Cambridge in the UK. Details on the Chinuka Process, a patented molten salt and electro deposition method to produce titanium sponge directly from rutile concentrate, will be presented in a paper to be given at The Fray Symposium in Cancun, Mexico. This symposium, which will run from November 27 to December 1, 2001 and feature numerous presenters from around the world, will honour the distinguished work and lifetime achievements of Professor Derek Fray. Professor Fray is the inventor of the Chinuka Process and is overseeing its on-going research. White Mountain intends to continue to fund lab scale research and to eventually pilot the process.
Commenting on these developments, Mike Kurtanjek, the Company's President and CEO, said, "With the increase in in-house engineering personnel we will be able to foreshorten the time it will take to advance the Cerro Blanco project to final engineering feasibility. Our team is working well and, together with external consultants, achieving project milestones on time and within budget." He went on to say, "Our three grades of concentrate continue to gain support from a varied customer base within the titanium industry. From an initial focus on supplying standard grade concentrate to pigment and titanium metal manufacturers, we are now focused on marketing our fine and ultra-fine concentrate to customers serving different end users in the titanium industry. Whilst there are still details to finalize, I expect that the Company will shortly enter into definitive off-take agreements for our fine and ultrafine concentrate with terms and conditions which reflect continuing strength for titanium feedstock." Finally, and with respect to titanium metals technology, Mr. Kurtanjek stated, "White Mountain is proud to be associated with Professor Derek Fray and opportunities the Chinuka Process may hold out to the Cerro Blanco Project. The Cancun Symposium will provide attendees the chance to learn not only about the Chinuka Process but also other developments in international metallurgical research and, more particularly, Professor Fray's varied interests and achievements in the field of metallurgy."
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 33 registered mining exploitation concessions and five mining exploration concessions in the process of being constituted, over approximately 8,225 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The Company's principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, and to secure off-take contracts for the planned rutile concentrate output. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
The OTC BB has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Cautionary Note to U.S. Investors—The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases and on our website, such as 'reserves,' 'resources,' 'geologic resources,' 'proven,' 'probable,' 'measured,' 'indicated,' and 'inferred,' that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10K for the year ended December 31, 2007, File No. 333-129347, and in subsequent filings with the SEC. You can review and obtain copies of our filings from the SEC's website at http://www.sec.gov/edgar.shtml.
White Mountain Titanium Corporation
Michael Kurtanjek, President
(56) 2 657-1800
Brian Flower, Chairman
SOURCE White Mountain Titanium Corporation