NewsTitanium Corporation Reports Results for the Second Quarter Ended June 30, 2021 and Provides a Project Update CALGARY, ALBERTA August 25, 2021 Titanium Corporation Inc. (the Company or Titanium) (TSX-V: TIC) today released its results for the three and six month periods ended June 30, 2021. During the first six months of 2021, the joint Titanium and Canadian Natural Resources Limited (Canadian Natural) project team completed critical milestones related to the CVW Horizon Project (Project) related to the Class 3 cost estimate update for the Project, including engineering validation, optimization, and economics, which remains under review. The Company submitted a number of government milestone reports and collected over $3.0 million of non-repayable government funding contributions, including an August payment from Natural Resources Canada (NRCan). Completion of this key engineering phase of the Project has enabled our Company and Canadian Natural to focus on the evaluation of Project costs, environmental and operational benefits and overall Project economics, commented Scott Nelson, Titaniums President and CEO. We continue to collaborate with our government funding partners and are assessing the potential for funding, from recently announced government programs, towards next phases of the Project. Highlights for the three and six months ended June 30, 2021 In January 2021, the Company and NRCan signed a Non-Repayable Contribution Agreement (the NRCan Agreement) under the Clean Growth Program, whereby $1.96 million was provided to Titanium to fund eligible expenditures related to an engineering work program for the period from April 1, 2020 to March 31, 2021. In March 2021, the Company received the first milestone funding of $353,000 ($392,000 less a 10% holdback) under the NRCan Agreement related to the engineering phase of the Project, with respect to the period from April 1, 2020 to December 31, 2020. In March 2021, the Company received the first milestone funding of $640,000 ($800,000 less a 20% holdback) from Emissions Reduction Alberta for the engineering phase of the Project. This ERA payment is the first under the $5 million ERA Contribution Agreement announced in September 2020. In April 2021, the Company announced the signing of a $10 million Project funding agreement with Sustainable Development Technology Canada and received the first milestone advance payment of $733,738 (815,264 less a 10% holdback). In April 2021, the Company and Canadian Natural signed a 2021 Project Coordination Agreement (the PCA), which governs the engineering phase of the Project (the 2021 Program), for the period from January 1, 2021 to April 30, 2021. The 2021 Program includes: completion of overall plant design validation and optimization; engineering redesign and updates related to the minerals separation plant, associated utilities and product transload facility; and the updating of Class 3 engineering capital costs and operating expenses for all of the Project facilities. The PCA provides for cost and grant fund sharing by the Company and Canadian Natural in the ratio 30% and 70%, respectively. During the first four months of 2021, the Company and Canadian Natural completed engineering work under the 2021 PCA. In June 2021, the Company received the second milestone funding of $160,000 ($200,000 less a 20% holdback) under the ERA Agreement for an engineering phase of the Project, with respect to the period from January 1, 2021 to March 31, 2021. In June 2021, the Company finalized an expenditure claim under the NRCan Agreement and in August 2021 received funding of $1.34 million ($1.49 million less a 10% holdback) with respect to the engineering phase of the Project for the period from January 1, 2021 to March 31, 2021. In addition to advancing the Project with Canadian Natural and securing government funding for the Project, the Company continues to focus on conserving cash through reducing costs such as compensation, travel and other discretionary expenses. 100% of directors compensation and a portion of management compensation have been deferred under the Companys equity-based plans. In June 2021, the Company announced the cancellation of the annual general and special meeting of shareholders of Titanium, initially scheduled for June 2021, and subsequently rescheduled the meeting for August 2021. The Company has been granted an extension by the Court of Queens Bench of Alberta pursuant to Section 133(3) of the Canada Business Corporations Act permitting the Company to hold its annual general and special meeting at any time on or before December 30, 2021, which is the result of ongoing discussions between key shareholders of Titanium and the Board of Directors of the Company that have not yet concluded. These discussions are focused on potential financing options for the Company and the Board of Directors is evaluating all such financing options. Depending on the outcome of these discussions and the evaluation by the Board of Directors, certain directors of Titanium may remove their names for re-election and the Board of Directors may choose to nominate alternative directors for election. While the Board of Directors will endeavor to hold the shareholder meeting as soon as possible, these discussions and the evaluation are ongoing and will take more time. FINANCIAL OVERVIEW The Company is focused on achieving long-term financial success by implementing its CVW technologies in commercial operations at oil sands sites. The Company is working with Canadian Natural on the Class 3 engineering phase of the Project, including engineering validation, optimization and economics, as well as planning for the potential implementation at Canadian Naturals Horizon site. However, until these Project activities are completed to the satisfaction of the parties, commercial arrangements and investment decisions are made and facilities constructed and operating, the Company expects to continue to incur losses. Currently, quarterly losses are comprised of project engineering costs and general and administrative (G&A) expenditures. Changes in quarterly results are dependent on project activity and the timing of payments related to project cost recovery. In addition to its ongoing working capital requirements, the Company must secure sufficient funding for commercialization of its technology. The Company may be constrained in its ability to meet its obligations as they come due and, accordingly, the Company is reviewing further funding and financing opportunities. Currently, the financial statements of the Company are reported with a going concern assumption and disclosure regarding such going concern uncertainty is disclosed in the Companys financial statements. Cash Flow - The Companys aggregate cash position was $1.6 million as at June 30, 2021, as compared to $2.7 million as at December 31, 2020. The decrease in cash of $1.1 million is the result of funding the Companys engineering programs and G&A expenses during the quarter versus the timing of receiving grant funding amounts. The Company did not report any activities from investing or financing. Cash used in operating activities for the three months ended June 30, 2021 was $0.1 million, compared to a use of cash of $0.6 million for three-month ended June 30, 2020. Net Loss For the three months ended June 30, 2021, the Company reported a net loss of $0.7 million or $0.01 loss per share, comparable to the net loss for the comparable quarter ended June 30, 2020, of $0.7 million or $0.01 loss per share. The net loss consisted of G&A ($0.7 million) and research and development (R&D) ($0.05 million) expenses in the current period. Research & Development R&D expenses for the three months ending June 30, 2021 were lower at $0.05 million, as compared to $0.3 million for the comparative three months ended June 30, 2020. R&D spending in the current quarter consisted primarily of compensation for technical staff, on-going minerals testing and evaluations, optimization engineering work and updating cost estimates. The R&D spending is offset by recoveries of project costs, related to government grant funding received during the quarter. General & Administrative - G&A expenses for the three months ending June 30, 2021 were higher at $0.7 million, as compared to $0.4 million for the comparative three months ended June 30, 2020. The increase related to higher expenses for compensation and benefits, consulting and professional costs, and investor relations and regulatory, which were partially offset by decreases in equity-based compensation and travel. To view the Companys management discussion and analysis and interim unaudited financial statements for the three and six month periods ended June 30, 2021, please visit our website at www.titaniumcorporation.com or SEDAR at www.sedar.com.