White Mountain's Technology Partner Granted Full U.K. Patent Covering the Chinuka Process
Santiago, Chile--(Newsfile Corp. - September 25, 2013) - White Mountain Titanium Corporation (OTCQB: WMTM) ("White Mountain" or the "Company") is pleased to announce that Chinuka Limited plc ("Chinuka"), a UK registered research and development company, has been granted a full patent on its proprietary Chinuka Process in the U.K. In compliance with The 1977 Patent Act, the grant has been issued as Serial Number GB2472496. Chinuka is awaiting further grants from International Patent authorities to cover and protect the Chinuka Process in North America, Brazil, Chile, China, Russia and other Asian countries. A master license to the Chinuka Process is held by a Hong Kong registered intellectual property marketing company, La Serena Technologies Limited ("La Serena"). La Serena licensed the Chinuka Process to White Mountain in 2010 for use at its Cerro Blanco titanium project in Chile ("Cerro Blanco").
The Chinuka Process was specifically developed to produce refined titanium metal directly from rutile concentrate in a continuous process (as compared with the older, established Kroll Process which produces sponge titanium from titanium tetrachloride in a batch process.) The Chinuka Process uses molten salt, electro-refining technology developed by Professor Derek Fray of the University of Cambridge in the UK. Under Professor Fray's direction, over the past 3 years the Chinuka Process has been successfully tested on Cerro Blanco pilot plant rutile concentrate feedstock resulting in the production of high quality titanium metal. The resultant titanium metal has been present both as plated metal on the cathode and as metal powder (the latter being the highest value product.) In addition to rutile, the Chinuka Process has been tested on ilmenite and niobium concentrate and future plans include testing the applicability of the technology for refining tantalum and rare earth metals from concentrate. Based on test work to-date, it appears that the Chinuka Process may find applications beyond refined titanium metal, and hence the study of other metals that have the ability to form an oxy-carbide.
Commenting on these developments, Michael Kurtanjek, President and Chief Executive Officer said, "The granting of a full patent to the Chinuka Process is good news for White Mountain and Cerro Blanco. The Chinuka Process is one of a number of emerging technologies which are challenging the established Kroll Process to service growing titanium metal demand, particularly from the commercial aerospace sector. What differentiates the Chinuka Process from other technologies is that the Chinuka Process can produce refined titanium metal directly from various titanium concentrates. In the future, commercialization of the Chinuka Process would allow White Mountain to redirect sales of Cerro Blanco natural rutile concentrates from paints and pigments to higher value, refined titanium metal production. White Mountain remains singularly focused on and committed to advancing Cerro Blanco to final engineering feasibility and realizing on the potential of all related project initiatives, including the Chinuka Process."
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 41 registered mining exploitation concessions and 34 mining exploration concessions in the process of being constituted, over approximately 17,041 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, to secure off-take contracts for the planned rutile concentrate output, and to secure funding or other arrangements to place the project into production, if warranted. 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.
OTCQB Markets 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 Investors Regarding Mineral Disclosures
We commissioned the updated technical report in accordance with the Canadian Securities Administrator's National Instrument 43-101 "Standards of Disclosure for Mineral Projects," commonly known as NI 43-101. The Canadian standards are different from the standards generally permitted in reports filed with the U.S. Securities and Exchange Commission (the "SEC"). In accordance with NI 43-101, we report measured, indicated and inferred resources, measurements which are recognized terms under NI 43-101 but are not recognized by the SEC and are generally not permitted in filings made with the SEC. The term "resource" does not equate to the term "reserve." Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted. Investors are cautioned not to assume that any part of measured or indicated resources will ever be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. The SEC's disclosure standards normally do not permit the inclusion of information concerning "measured resources," "indicated resources," "inferred resources," or other descriptions of the amount of mineralization in mineral deposits that do not constitute "reserves" by U.S. standards in documents filed with the SEC. We are furnishing the disclosure herein to provide a means of comparing our projects to those of other companies in the mining industry, many of which are Canadian and report pursuant to NI 43-101 U.S. investors are urged to consider closely the disclosure in our annual report on Form 10-K for the year ended December 31, 2012(SEC 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 or at no cost from us.
White Mountain Titanium Corporation
|Michael Kurtanjek, President||Brian Flower, Executive Vice-President|
|(562) 2 657-1800||(604) 408-2333|
SOURCE White Mountain Titanium Corporation