Reactive mechanical alloying of TiH2-B (sample #1), Ti-TiH2-B (sample #2) powder mixes and mechanical alloying (MA) of Ti-B (sample #3) powder mix for ten uninterrupted hours with sealed vial was carried out under nitrogen. This was followed by annealing of MA'ed powders under purified argon to 1200 degrees C for thermal treatment to determine the stability of nitride and boride formation. Representative samples of each powder mix mechanically alloyed and thermally treated were characterized by XRD using CuKalpha radiation and examined by Cambridge ST40 Stereoscan scanning electron microscope operating under 25kV to determine morphology and crystal structure change of the powders. It is observed that RMA under nitrogen causes the formation of TiN in different levels in all the samples studied. Annealing of mechanically alloyed powders under purified Ar to 1200 degrees C for one hour leads to the formation of Ti-TiN-TiB multi-phase material in samples (albeit with different ratios). This shows that sintering of the MA'ed powders of TiH2-B, Ti-TiH2-B and Ti-B is a promising way for producing ultrafine grained Ti-TiN-TiB composite materials with reactive mechanical alloying processing under N-2.