Quarterly Activities Report For The Period Ending 31 December 2022

Titan Minerals Limited (Titan or the Company) (ASX:TTM) is pleased to provide a summary of its activities for the three month period ending 31 December 2022. The Company has made significant advances on exploration work programs at its Dynasty, Linderos and Copper Duke Projects in southern Ecuador, where several high priority targets have been identified and are being prioritised for drill testing in 2023.

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Key Highlights

• Maiden drilling campaign at Copper Ridge Porphyry prospect intersected significant wide intervals of mineralised porphyry from shallow depths, with significant intersections including:
  
  • 308m grading 0.4% Copper Eq from 54m downhole in CRDD22-003,
    • including a higher-grade intercept of 76m grading 0.5% Copper Eq from 132m downhole; and
      
  • 91m grading 0.3% Copper Eq from 484m downhole in CRDD22-003- mineralised to end of hole, and remains open
  • 52m grading 0.3% Copper Eq from 82m downhole in CRDD22-001
    
• Significant stockwork veining, and disseminated and vein hosted chalcopyrite- molybdenite-pyrite±pyrrhotite mineralisation observed in all eight diamond holes drilled at Copper Ridge Porphyry prospect
• Regional exploration work programs continued across the Dynasty and Copper Duke Projects, with several high priority epithermal and porphyry style targets identified and set to be drill tested in 2023
  
• Cash on hand, investments and receivables from the sale of assets total A$5.5m
  

Titan holds several projects which exhibit characteristics of both high-grade epithermal gold and large-scale copper-gold porphyry mineral systems. The projects are located within a Tier 1 jurisdiction, in southern Ecuador’s metallogenic belts (Figure 1).

The Company is very encouraged by the potential revealed from exploration work programs completed at the Dynasty Gold, Linderos and Copper Duke Projects over the past 12 months. The assembly of consistent, high quality geological datasets has successfully identified several compelling epithermal gold, and large-scale porphyry copper-gold targets, which are set to feature in drilling campaigns planned for 2023.

The Company’s focus during the quarter was the completion of its maiden drilling campaigns at the Copper Ridge and Meseta prospects at the Linderos Project, with drilling designed to test significant gold and copper recorded from shallow depths in historical drilling and surface geochemistry.

Fourteen diamond holes for 1,270 metres were completed at the Meseta Gold prospect, with multiple, narrow high-sulphidation pyrite-sphalerite-arsenopyrite±galena, massive sulphide veins intersected.

Eight diamond holes for 3,702 metres were completed at the Copper Ridge prospect, with assay results for the first two diamond drill holes confirming the presence of wide intervals of copper-molybdenum±gold±silver from shallow depths.

Copper Ridge significant intersections include:

• 308m grading 0.4% Copper Eq from 54m downhole in CRDD22-003
  
  • including a higher-grade interval of 76m grading 0.5% Copper Eq from 132m downhole; and
• 91m grading 0.3% Copper Eq from 484m downhole in CRDD22-003, with mineralisation remaining open and extending to the end of hole
• 52m grading 0.3% Copper Eq from 82m downhole in CRDD22-001

Titan’s drilling has confirmed the large-scale porphyry potential at Copper Ridge and gives further confidence to continue targeting porphyry mineralisation at the project, with considerable scope for both lateral and depth extensions evident.

Generative work programs also continued across the Dynasty and Copper Duke Projects with the Company now well positioned to test identified targets at each project in drilling programs planned for 2023.

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