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Titanium Resources (SRX)

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Tuesday 08 May, 2007

Titanium Resources

Issue of Equity

Titanium Resources Group Ltd
08 May 2007



NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
                                    SERVICES


                          Titanium Resources Group Ltd

       Placing of new common shares raises £17.6 million ($35.2 million)


8 May 2007: Titanium Resources Group Ltd ('TRG' or 'the Company') announces the
successful completion of the placing of 27,077,000 new common shares ('the
Placing Shares') announced on 2 May 2007 ('the Placing'). The Placing with
institutional investors at a price of 65 pence per share raised approximately
£17.6 million (US$35.2 million) before expenses. The Placing represents
approximately 11.6 percent of the enlarged issued share capital of the Company
of 234,278,553 common shares.


The Placing Shares were admitted by the London Stock Exchange for trading on AIM
('Admission') today.  The Placing Shares will rank in full for all dividends or
other distributions made, paid or declared after Admission and pari passu in all
other respects with the existing common shares.


Based upon the share register of the Company as at 27 April 2007, being the last
date that the Company requested a copy of the same from its Registrar, and the
Placing Shares allotted; shareholders holding more than 3 percent of the
Company's enlarged total voting share capital now comprise the following:


Shareholder                                           Common shares held             Percentage

Leopard Titanium Limited                              90,320,332                     38.6
Morstan Nominees Limited - A/C SEG                    42,680,478                     18.2
N.Y. Nominees Limited                                 24,649,400                     10.5
Vidacos Nominees Limited - A/C FGN                    10,146,000                     4.3


Pursuant to the Placing, a total of 11,500,000 common shares, representing 4.9
percent of the enlarged share capital of the Company, has been registered in the
name Morstan Nominees Limited.


The number of TRG common shares held by Leopard Titanium Limited is unchanged as
a result of the Placing.


Commenting on the Placing, Len Comerford, Chief Executive of TRG, said:


'The funds raised through the Placing will enable us to deliver the range of
opportunities that currently exist and to seek additional growth opportunities
in order to enhance the competitive position of the Company.  I would like to
thank our shareholders for their continued support as we develop our world class
assets in Sierra Leone.'


THE SECURITIES REFERRED TO IN THIS RELEASE WILL NOT BE REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933 OR THE LAWS OF ANY STATE AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES ABSENT SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION FROM REGISTRATION REQUIREMENTS.


For further information:


Len Comerford / Walter Kansteiner

Titanium Resources Group Ltd.

Telephone: +44 20 7321 0000


Michael Oke / Andy Mills

Aura Financial

Telephone: +44 20 7321 0000


Nominated Adviser

John Wilkes

Nabarro Wells & Co. Limited

Telephone: +44 20 7710 7400


Graham Swindells/Richard Dunn

Arbuthnot Securities

Telephone: +44 20 7012 2000


William Smith

BMO Capital Markets

Telephone:  +44 20 7664 8120



                      This information is provided by RNS
            The company news service from the London Stock Exchange