Titan Minerals : High-grade Gold & Silver at the Dynasty Project

Corporate StructureIssued Shares: 1.391 billion onlyIssued Options: 92.6 million

Share Price: $ 0.10

Market Cap (15/11/21): A$139m

Titan Minerals Ltd (ASX:TTM) is an xplorer and developer of the rich cordilleras of the Andes in Southern Ecuador.

Titan's main projects are rich in

st tus.

They include:

1. Dynasty Gold Project;

2. Copper Duke Project;

3. Linderos Project;

4. Jerusalem Project.

Board of Directors

P t r G Cook - Non-execChairman Laurie Marsland - Managing Director

Nicholas Rowley - Non Exec Director

ForBa y Bourne - Non Exec Director

Zane Lewis- Company Secretary

Key Management

Mike Skead - Executive Vice

President Exploration

High-grade Gold & Silver at the Dynasty Project

The Board of Titan has now received a second batch of assay data for a further 11 diamond core holes from the ongoing evaluation and validation works at the Cerro Verde Prospect in its Dynasty Project. In addition, new trench data completed in parallel with the drilling has been received from the Cerro Verde and Iguana Prospect areas.

HIGHLIGHTS

Cerro Verde Prospect

• Excellent resource definition and extensional results received from a further 11 diamond core holes. Better results include:
  o 5.49m @ 5.33g/t gold with 259g/t silver from 58.3m in CVD023

1. 9.22m @ 2.46g/t gold with 11g/t silver from 169.1m in CVD022

• 1. 3.12m @ 4.57g/t gold with 10g/t silver from 154.97m in CVD027
• Trench channel results continue to support continuity of mineralisation along strike and detailed mapping has revealed additional vein density at surface. Better results include:
  o 15.0m @ 6.20g/t gold with 35g/t silver in trench channel CVC022

1. 4.67m @ 11.91g/t gold with 180g/t silver in trench channel CVC023

1. 2.86m @ 26.25g/t gold with 119g/t silver in trench channel CVC024

1. 7.27m @ 5.19g/t gold with 250g/t silver in trench channel CVC026

1. 1.88m @ 10.2g/t gold with 94g/t silver in trench channel CVC027

Iguana Prospect

• Iguana trench results support continuity of modelled veins at surface, with better results including:
  o 5.71m @ 3.95g/t gold with 15g/t silver in trench channel IGC019

1. 3.11m @ 4.48g/t gold with 8.2g/t silver in trench channel IGC020

1. 4.73m @ 3.57g/t gold with 73g/t silver in trench channel IGC022

Drilling Program Update

• Titan is planning to continue works with 4 diamond rigs until December 17, 2021. At this point it will pause its drilling to enable assay data to catch up with the physical drill progress. Drilling is expected to recommence in the new year after a review of the results from the current works.

Other Works

• In parallel to the drilling at the Dynasty Project, works continue at the Copper Ridge and Meseta Prospects in the Linderos Project. Also, initial plans for drilling at the Copper Duke Project have commenced with the plan to validate historical drilling.

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DYNASTY GOLD PROJECT (100%)

As has been previously reported Titan commenced another phase of resource definition and extensional drilling late June Quarter.

The Dynasty Gold Project is an advanced stage exploration project comprising 5 contiguous titles and 139km2 in area. Three of these concessions received Environmental Authorisation in 2016 and are fully permitted for exploration and small-scale mining.

Exploration works at Dynasty have outlined an extensive zone of epithermal veining over a 9km strike and over 1km in width. It remains open in most directions and its contiguous nature appears only to be a limitation on drilling and surface trenching due to topography and land access complications.

Previous explorers had generated a Canadian NI 43-101 resource estimate referred to as a foreign resource and is not yet considered JORC 2012 compliant which essentially breaks the prospects strike into three main Prospects: Papayal; Iguana; and Cerro Verde (refer to Figure 2). This resource estimate was compiled using a dataset of 1,160 trenches and 26,733 metres of diamond core. In addition, that resource has been validated by a phase of open pit mining of outcropping veins in five separate areas within the Cerro Verde Prospect. Mining reconciliations were strongly positive with the net overall outcome of a more than 600,000t sample delivering 169% of the resource tonnage at 85% of the resource grade and metallurgical recoveries (not finessed) of approximately 90%.

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IGUANA PROSPECT

Works have also commenced on the Iguana Prospect in the centre of the Dynasty Project (Figure 2.)

The Iguana Prospect is a 2.5km long structural corridor hosting multiple gold-silver veins that trend northeast from the highly prospective Cerro Verde Prospect area (Figure 5). Historical drill and trench results cover just over 1km of strike on the Iguana vein corridor (refer to ASX release dated 19 May

2020). Better intercepts in the historical drilling at the Iguana Prospect include:

• 6.75m @ 4.14g/t gold and 43g/t silver from 81.4m - DDH069
• 3.8m @ 9.55g/t gold and 23g/t silver from 76.8m - DDH073
• 8.5m @ 13.9g/t gold and 55g/t silver from 97.3m - DDH103
• 4.82m @ 7.59g/t gold and 22g/t silver from 111.18m - DDH116

Titan reported results from an additional 20 holes in February 2021 drilled on along more than 500m of strike at Iguana. Drilling provided the first oriented core at the Dynasty Gold project and provide structural controls to define vein geometries for modeling updates. Drilling matches widths and grades of previous drilling with better results from recent drilling including:

• 4.94m @ 6.28 g/t gold and 16 g/t silver from 82.22m - IGD007
• 2.28m @ 6.82g/t gold and 88g/t silver from 24.52m - IGD010
• 2.69m @ 7.54 g/t gold and 38 g/t silver from 125.76m - IGD013
• 3.80m @ 6.92 g/t gold and 30 g/t silver from 117.20m - IGD015

New Results and Discussion

Six trenches completed on 10 metre line spacing on the El Cisne Branch vein of the Iguana Corridor were excavated to define a new north-northeast branch from El Cisne vein System (4.5 metres width/102 metres long) (Figure 4). Better results from the trenching includes- (refer to Appendix B)

• 5.71m @ 3.95g/t gold - IGC019
• 3.11m @ 4.48g/t gold - IGC020
• 4.73m @ 3.57g/t gold - IGC022