THe Natural Rutile Company Limited

The Natural Rutile Company Limited is the exclusive Sales & Marketing agent for its sister company, Sierra Rutile Limited (SRL), Sierra Leone. Both companies are business units of the Titanium Resources Group.

SRL is currently undergoing full-scale refurbishment of its mining operations and will commencing production of natural rutile in December,2005 with shipment beginning in January,2006. Two grades of rutile will be produced, Standard Grade and Industrial Grade.

Standard Grade is destined for the TiO2 pigment, titanium metal, and welding rod industries, and Industrial Grade is destined for the welding rod, thermal insulation and ceramic markets. Both rutiles are of high quality and the principal difference between these grades is that the Industrial Grade is of a finer particle size distribution.