Mr. Mazen Alnaimi reports

ARGEX TITANIUM PROVIDES LAB AND CORPORATE UPDATE

Argex Titanium Inc. has provided an update on its activities at the laboratory in Valleyfield, Que.

"We are finalizing most of the internal performance tests on our commercial samples of TiO2 product, which we believe meets and/or exceeds PPG standards, and we will have it certified," said Carroll Moore, chief operating officer of Argex Titanium. "We have also now started the data package for a basic engineering design, which we expect to complete in about two months. This will be fed on to a Pro-2 simulation, which will produce a heat and material balance and confirm that Argex's operating costs will be the lowest in the industry."

"There have been a number of price increases for TiO2 leading to an estimated $3,400 (U.S.) per tonne, a 36-per-cent increase over the last 12 months. This significantly improves the economics of our proposed demonstration plant and ultimately of our first commercial plant," said Mazen Alnaimi, executive chairman and chief executive officer of Argex Titanium.

Corporate change

The company has appointed Ross Corcoran as chief financial officer. Mr. Corcoran replaces Shaun Parmar as CFO following Mr. Parmar's recent resignation. The company wishes to thank Mr. Parmar for his contributions to the company.

Mr. Corcoran was most recently vice-president, finance and administration, and CFO of Bantam Restaurant Group LLP, a position he held from 2014. Prior thereto, Mr. Corcoran was from 2009 to December, 2012, vice-president, finance, and CFO of Global Railway Industries Ltd., a company listed on the Toronto Stock Exchange. Mr. Corcoran has also held positions with Datamark Systems Inc. (consultant), My Virtual Model Inc. (vice-president, finance, and CFO) and Hydro Quebec International Inc. (director, project finance, and senior manager/international investments). Mr. Corcoran holds an MBA degree and a bachelor of commerce degree (accounting and finance), both from McGill University in Montreal. He is on the board of the Quebec chapter of FEI Canada, an all-industry professional association for senior financial executives.