GL Energy and Exploration Inc. - Rutile Reserves (Titanium)

GL Energy and Exploration Inc. - Rutile Reserves (Titanium) 


VANCOUVER, Feb. 18  /PRNewswire-FirstCall/ -- GL Energy and Exploration Inc.
(GEEX). The primary mineral associated with the deposits located in Chile, South
America is Rutile or commonly referred to as Titanium. The annual revenues for
Rutile or (Titanium) from one of the two deposits would be $81,000,000 and
reserves are sufficient for 38 years. The GEEX interest would be 60% for a
$8,000,000 investment. Recently, the Rio Tinto Group (London) announced plans to
spend $100 million Cdn. Expanding its titanium dioxide plant in Quebec to meet
rising demand for the material used as a pigment in paint, plastics and paper.
Capacity will increase to 325,000 tons a year by early 2005 from the current
250,000 tons now, the company said. This expansion involves converting Ilmenite
(FeTiO3) to synthetic rutile (TiO2, titanium oxide) using hydro- electricity.
Quebec has a lot of hydro-power (from Labrador) same as Norway, which is the
leading manufacturer of synthetic rutile with Ilmenite feedstocks being
converted to synthetic rutile.

The GEEX/SEM project will produce high quality rutile and zircon and the rutile
does not need to go through this expensive process.

The world's output for rutile, both synthetic and natural is 550,000 metric tons
per year and 1,000,000 metric tons of zircon per year. The world's consumption
of rutile increases at a rate of 2 1/2 % to 3% annually and has been in short
supply for a decade or so since no large supply of natural rutile has been found
or developed, the supply of rutile (TiO2) mainly coming from ilmenite that is
synthesized to rutile (titanium dioxide) which is a very expensive process.

The GEEX/SEM project, for each production plant installed will account for 9.7%
of the world's supply of rutile and 3.4% of the world's supply of zircon. This
production will not affect the price of rutile since it has been in short supply
for over a decade and the cost of Synthesizing ilmenite to rutile has been going
up due to the increasing cost of energy. A new and cheap method of producing
titanium metal from rutile has recently been developed, which will impact on the
supply of rutile. Titanium metal being light, strong, and non-reactive has found
increasing usage particularly in the automotive industry. This new refining
process is called the FFC-Cambridge process.

  Contact: Ray Johnson 1-866-639-3900
  Website: http://www.chileanmining.com/



Certain of these statements contained in the press release may be deemed
forward-looking statements, and factors that could actual results to differ
materially from these statements and matter are risks that other factor detailed
from time to time, in the Company's reports with Securities and Exchanges
Commissions, including, but not limited to, the Company's Annual Reports on Form
10-K and its Quarterly Form 10-Q. 

DATASOURCE: GL Energy and Exploration, Inc.



CONTACT: Ray Johnson, 1-866-639-3900; Website: http://www.chileanmining.com/

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