Acquisition

31 Jan 2006 07:02

Titanium Resources Group Ltd31 January 2006 Titanium Resources Group ("TRG" or "the Group") Completes Acquisition of the rights to the Rotifunk Mineral Sands Prospect in Sierra Leone 31 January, 2006: TRG is pleased to announce that it has completed theacquisition of the rights to the Rotifunk mineral sands prospect located inSierra Leone, from Gondwana (Investments) S.A, for a consideration of US$120,000cash. TRG announced on 21 December 2005 an agreement to acquire the rights to theRotifunk prospect subject to satisfactory due diligence. The Group intends tofurther evaluate the potential of the Rotifunk prospect to augment projectedproduction from its nearby Sierra Rutile mine. Ends For further information TRGWalter Kansteiner, ChairmanTel: +44 (0) 207 321 0000www.titaniumresources.com Aura FinancialMichael OkeAndy MillsTel: +44 (0) 207 321 0000 This press release has been issued by TRG and is the sole responsibility of thecompany. This press release does not contain or constitute an offer orinvitation to purchase or subscribe for any securities of TRG and should not berelied on in connection with any decision to purchase or subscribe for any suchsecurities. The securities referred to herein have not been and will not be registered underthe U.S. Securities Act of 1933 and may not be offered or sold in the UnitedStates absent registration under the Securities Act or an available exemptionfrom it. Notes for Editors The Rotifunk prospect The Rotifunk mineral sands prospect is the second largest known mineral sandsdeposit in Sierra Leone (after TRG's Sierra Rutile mine). It is located 65 kmsoutheast of Freetown and lies approximately 40 km northwest of the SierraRutile mine. Records of work undertaken by both Bayer-Preussag and Hazcare haveprovided mineral resource estimates of 207 million tonnes at 0.49% rutile and163 million tonnes at 0.48% rutile, respectively. Exploration work undertakenin 2003-2004 by Gondwana has identified 170 million tonnes of inferred mineralresource at 0.70% rutile, 0.84% ilmenite and 0.06% zircon. This information is provided by RNS The company news service from the London Stock Exchange