White Mountain – Titanium Samples Distribution and Marketing Update
SANTIAGO, Chile, May 20 /PRNewswire-FirstCall/ — White Mountain Titanium Corporation (“White Mountain” or the “Company”) (OTC Bulletin Board: WMTM) reports that, following completion of its successful Pilot Plant program, in excess of 150 Kg of high grade, natural rutile concentrate samples have been dispatched to potential customers in North America, Asia and Europe for testing. The samples were wet screened and comprised of three grades: Standard Grade (plus 75 microns), Welding Rod Grade (53 to 75 microns) and Fine Grade (less than 53 microns.) The TiO2 content for all grades was in excess of 96.4%, with CaO levels conforming to standard limits for chloride grade concentrates. In addition to pigment, Fine Grade rutile is being evaluated for titanium metal applications.
The Company expects to receive comments from potential customers during the current quarter.
“Following on from our Pilot Plant work, it is important now to let potential customers test our range of high grade, natural rutile concentrates,” said Michael Kurtanjek, the Company’s President and CEO. “At a time of growing tightness in the chloride grade, TiO2 concentrate market, I remain optimistic that Cerro Blanco concentrates will be well received by potential customers. Chloride grade, TiO2 concentrate prices have risen considerably over the past 18 months and many market commentators are forecasting further price appreciation from current levels. Market conditions bode well for our Project.”
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, 2008, 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.
Contact: White Mountain Titanium Corporation Michael Kurtanjek, President (+56) 2 657 1800 Brian Flower, Chairman (604) 408-2333
SOURCE White Mountain Titanium Corporation