======================================================================
Re: News Release - Tuesday, October 02, 2007
Tiomin Appoints Director
======================================================================
Toronto, Canada, October 2nd, 2007: Tiomin Resources Inc. ('Tiomin' or
the 'Company') is pleased to announce the appointment of Mr. Lu Qingua
as Jinchuan's nominee to the Board of Directors of the Corporation.
In the transaction announced on June 18, 2007, Jinchuan invested $10.9
million in Tiomin to buy 72,512,134 common shares at $0.15 per share,
increasing Jinchuan's interest in Tiomin to 20%, and received an
18-month option to increase its interest in Tiomin to 30% by
subscribing for additional common shares of Tiomin at $0.35 per share.
The Subscription Agreement provided for Jinchuan to nominate a director
to the Board of Directors of Tiomin and Mr. Lu Qingua has been
nominated by Jinchuan and has accepted the nomination.
Mr. Robert Jackson, President and CEO of Tiomin commented "Jinchuan's
involvement in Tiomin is very important and all avenues are currently
being explored to jointly develop our Kwale Titanium Project in Kenya.
However, the future of the Kwale project is still contingent upon the
Government of Kenya completing all outstanding issues and upon the
interest of international lenders in providing the necessary financing.
Our 49% interest in the Pukaqaqa Copper Project in Peru is progressing
well and we are evaluating many interesting opportunities in both
mineral sands and other metals in different regions around the world.
We are working very hard to regain the confidence of our investors and
to restore shareholder value".
Jinchuan (www.jnmc.com) is the largest producer of nickel, cobalt and
platinum group metals in China, combining mining, milling, smelting &
refining and chemical engineering operations. It produces nickel,
copper, cobalt, precious metals, various bulk chemicals and nonferrous
metals. The output of nickel and platinum group metals are 88% and 90%
respectively of total Chinese production.
For further information please contact:
Jean-Charles Potvin
Executive Chairman
(416)350-3779 Ext. 227
Robert Jackson
President & CEO
(416)350-3779 Ext. 230
Joyce Misoi
Project Coordinator &
Investor Relations
(416) 350-3779 Ext. 233
jmisoi@tiomin.com
Visit the company's website at www.tiomin.com
Certain of the information contained in this news release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to those respect to the prices of
metals and minerals, estimated future production, estimated costs of
future production and the Company's sales policy, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any forecast results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the actual prices of copper and
gold, the actual results of current exploration, development and mining
activities, changes in project parameters as plans continue to be
evaluated, as well as those factors disclosed in the Company's
documents filed from time to time with the Ontario Securities
Commission.
======================================================================
Copyright (c) 2007 TIOMIN RESOURCES INC. (TIO) All rights reserved.
For more information visit our website at http://www.tiomin.com/ or
send mailto:news@tiomin.com
Message sent on Tue Oct 2, 2007 at 8:46:22 AM Pacific Time
======================================================================
.
![]()