High Grade Epithermal Gold Intersected At Meseta

Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide results from the Company’s maiden drilling at the Meseta Gold prospect (Meseta), at the Linderos Project in southern Ecuador.

Key Highlights include:

• Recent drilling at Meseta proves that a shallow intermediate-sulphidation epithermal gold system exists adjacent to the recently discovered Copper Ridge Porphyry system.
  
• Several high-grade gold, silver and base metal epithermal veins intersected from shallow depths, with significant results including:

1. MGDD22-010:

• 7.22m grading 13.77g/t Au, 12.90g/t Ag, 0.15% Cu, 0.38% Zn from 66.28m, including higher grade intercepts of:
  
  • 0.92m grading 31.50g/t Au, 24.30g/t Ag, 0.25% Cu from 68.28m: and
  • 0.58m grading 99.80g/t Au, 89.90g/t Ag, 0.98% Cu, 0.31% Zn
• All within a broader intersection of 76.5m grading 1.41g/t Au. 5.63g/t Ag, 0.27% Zn from surface

2. MGDD22-012:

• 4.88m grading 12.87g/t Au, 6.04g/t Ag, 0.11 % Cu, 0.41% Zn from 41.0m, including a higher grade intercept of:
  
  • 1.64m grading 33.35g/t Au, 11.28 g/t Ag, 0.23% Cu, 0.72% Zn from 44.24m
• All within a broader intersection of 45.82m grading 1.40g/t Au. 2.13g/t Ag, 0.25% Zn from 4.35m

3. MGDD22-001:

• 4.64m grading 5.00g/t Au, 10.33g/t Ag, 0.39% Zn, 0.19% Pb from 51.7m

4. MGDD22-003

• 5.76m grading 3.72g/t Au, 48.69g/t Ag, 0.25% Zn, 0.28% Pb from 36.54m, including a higher grade intercept of:
  
  • 0.73m grading 11.35g/t Au, 73.30 g/t Ag, 0.84% Zn, 1.24% Pb from 37.35m
• Meseta is the first of several epithermal gold targets defined by Titan’s reconnaissance works within the Linderos Project to be drill tested, with high priority prospects proximal to porphyry copper-gold sources driving epithermal gold mineralisation.

Titan’s CEO Melanie Leighton commented:

“These are exciting results for Titan which confirm the potential for significant high-grade gold, silver and basemetalsattheLinderosProject.Theresultsdemonstratethatthecausalintrusionresponsibleforthe recentlydiscoveredCopperRidgeporphyrysystem,isalsotheplumbingtotheMesetaintermediate sulphidationepithermalsystem.”

“In many cases these high-grade epithermal vein systems have been eroded, and all that remains is the porphyry source. So, we’re excited that the Meseta epithermal mineralisation remains preserved, adjacent to its source, the Copper Ridge porphyry system, where recent drilling has demonstrated the potential for significant copper-gold porphyry mineralisation from shallow depths.”

“We feel that we’re onto something big here, with our maiden drilling campaigns at both Meseta and Copper Ridge delivering promising results, and plenty of scope for extending mineralisation with strong vectors towards higher grade gold, silver and copper mineralisation.”

“We now have a pipeline of high conviction targets to feature in forthcoming exploration work programs in2023.”

Linderos Project Drilling Results

The Company is pleased to provide results from its maiden drilling campaign completed in late 2022 at the Meseta Gold prospect (Meseta), at the company’s 100% held Linderos Project in southern Ecuador.

Drilling was successful in intersecting multiple pyrite-sphalerite-arsenopyrite±galena massive sulphide veins, with several significant intersections of high grade gold and silver returned, along with significant intersections of silver-zinc-±lead±gold±copper. Significant intersections are included in table 1, and illustrated in figures 1, 2, and 3.

The Meseta Gold prospect displays metal zonation and alteration assemblages typical of intermediate sulphidation systems related to proximal porphyry systems, with outcropping porphyry mineralisation identified and drill tested at the Copper Ridge Porphyry prospect (Copper Ridge) less than 500 metres to the south of Meseta (refer to Figures 1, 2 and 3).

Table 1 details significant intersections for gold, silver, copper, zinc, and lead returned from the Company’s maiden drilling at Meseta, where pleasingly 12 out of 14 holes intersected polymetallic massive sulphide mineralisation.

Plate 1: MGDD22-006 (35.74m). Quartz diorite with shear zone infilled by massive pyrite, sphalerite, arsenopyrite, pyrrhotite and galena, with a halo of sericite and illite-smectite.

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