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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play -- Ignore unavailable to you. Want to Upgrade?

To: Francis R. Biscan Jr. who wrote (286)	9/12/2000 1:02:21 PM
From: 1king	Read Replies (1) \| Respond to of 343

Canada Newswire... gen. info NAR Resources Ltd. to amalgamate with Titanium Corporation of Canada Limited TORONTO, Sept. 12 /CNW/ - NAR Resources Ltd. (NAR) is pleased to announce that it is exercising its previously reported option to implement a business combination with Titanium Corporation of Canada Limited ("Titanium") pursuant to its agreement with Titanium dated April 15, 1999, as amended (the "Titanium Agreement"). The business combination will be in the form of an amalgamation. Shareholders of Titanium will receive two-thirds of the common shares of the amalgamated company and shareholders of NAR will receive one-third of the common shares of the amalgamated company. The amalgamated company will have 27,041,091 shares outstanding and 30,166,091 shares on a fully diluted basis. NAR has called an annual and special meeting of shareholders to be held on November 8, 2000 to approve, among other items, the amalgamation. Titanium Corporation of Canada Limited is a private company with no debt that was incorporated under the laws of the Province of Nova Scotia, Canada. Upon the amalgamation, the amalgamated company will operate under the laws of the Province of Ontario, Canada. Titanium's principal asset is a two-thirds interest in a titanium bearing heavy mineral sand deposit located near Truro, Nova Scotia, Canada. NAR Resources Ltd. holds the other one-third interest. This property, which comprises a group of contiguous exploration licenses aggregating approximately 70 square kilometers (27 square miles), is located along the Hants/Colchester county line starting at Admiral Rock and follows the Shubenacadie River northward to the eastern reaches of Cobequid Bay. Based on the recently completed seismic survey and drill results, NAR and Titanium are satisfied that the tonnage of titanium bearing heavy mineral sands is extensive. To further evaluate the deposit, a deep drill program is expected to begin later this month. The amalgamation is conditional upon appropriate regulatory approval and shareholder approval of both NAR and Titanium. NOTE: The Company relies upon litigation protection for "forward looking" statements. Dated: September 12, 2000 Stock Symbol: NRL-ME ON BEHALF OF THE BOARD OF DIRECTORS (SIGNED) George D. Elliott L.L.B., Chairman -30- For further information: George D. Elliott L.L.B., Chairman, Telephone: (416) 955-0715, Fax: (416) 955-0790; nar-resources.com; E-mail: ir@nar-resources.com NAR RESOURCES LTD. has 15 releases in this database.