TITAN RESOURCES NL 2003-04-15 ASX-SIGNAL-GHOMEX - Melbourne...

TITAN RESOURCES NL 2003-04-15 ASX-SIGNAL-G

HOMEX - Melbourne

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BIOHEAP(TM) DEVELOPMENT

TECHNICAL PROGRESS

Technical development work on aspects of the BioHeap(TM) Process
continued during the quarter, with emphasis on further investigation
of the benefits of the company's salt-tolerant strains of bacteria
and on the generation of sulphuric acid leaches solution within the
leaching heap by bacterial action on elemental sulphur, which is
added to the ore prior to stacking. Both of these advances have the
potential to provide major cost savings and thereby economic benefits
to the overall process.

CHINA

During March, the Jinchuan Nickel Group of China hosted a four-man
delegation from Titan Resources NL. Jinchuan confirmed its support
and commitment to the BioHeap (TM) project and an Agreement was
signed, committing both companies to the development of a full
project feasibility study over the next twelve months. Jinchuan,
agreed to make, and has subsequently paid, a cash contribution of
US$150,000 towards Titan's expenditure on this project to date. As
part of the same Agreement, Jinchuan committed to sourcing additional
reserves and deposits of nickel ore to which the two companies can
apply Titan's BioHeap(TM) Process. Preliminary studies suggest that
there are substantial nickel resources in China that could be
suitable.

CARR BOYD

Column test work on samples of ore from the Carr Boyd nickel deposit
near Kalgoorlie was completed at the end of the quarter. These tests
are considered a reasonable approximation of the outcome in a
full-scale, heap leaching operation. Nickel recoveries into solution
of over 90% were achieved, which is consistent with the results
attained in the large-scale trials on Mt Sholl ore at Radio Hill.

CORPORATE

Cash at hand as at the end of the March quarter was $22 million
following despatch of the last of the WA Government royalties and the
North West Nickel Limited, Net Profit Interest payments from the
Radio Hill mine.

W J Ryan
MANAGING DIRECTOR


For further information on these matters and on Titan Resources NL in
general please contact:
Mr William J Ryan, MANAGING DIRECTOR, or
Mr Flavio L Garofalo, COMPANY SECRETARY
Telephone: 61 8 9481 6040
Facsimile: 61 8 9481 603