Titan Minerals : Dynasty Gold Project Drilling Results

ASX Release - 17 December 2021

Corporate Structure

Issued Shares: 1.391 billion onlyIssued Options: 92.6 million

Share Price: $ 0.098

Market Cap (16/12/21): A$136m

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

porphyry	copper, gold and
usesilver mineralisation and range
from early-stage exploration to
advanced	pre-development
personalMatthew Carr - Executive Director
status.
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-execDirector

ForBa y Bourne - Non-exec Director

Zane Lewis - Company Secretary

Key Management

Mike Skead - Executive Vice

President Exploration

Dynasty Gold Project Drilling Results

The Board of Titan is pleased to advise it has now received assay results from a further 22 diamond holes drilled within the Cerro Verde area of its Dynasty Gold Project.

HIGHLIGHTS

Diamond Drilling Results

• 102.7m @ 1.44g/t gold from 46.5m depth to end of assays received to date for drill hole CVD072 (results past 149.2m depth pending assay)
  including 43.06m @ 2.56g/t gold with 6.9g/t silver from 84.94m including 14.14m @ 6.42g/t gold with 16g/t silver from 87.09m
• 1.98m @ 51.2g/t gold with 9.1g/t silver from 135.5m in CVD073
• 7.27m @ 9.89g/t gold with 28g/t silver from 118.78m in CVD033
• 6.75m @ 6.74g/t gold with 82g/t silver from 53.83m within, 18.1m @ 3.83g/t gold with 50g/t silver and,
  4.39m @ 3.63g/t gold with 35g/t silver from 73.05m in CVD039
• 4.60m @ 5.83g/t gold with 25g/t silver from 61.9m in CVD069
• 6.59m @ 4.24g/t gold with 12g/t silver from 68.45m in CVD068

Drilling Program Update

• Titan continues to operate three diamond drill rigs at the Dynasty Gold Project, and the Company remains on track to complete the current phase of drilling at the Cerro Verde Prospect over the next week.
• The fourth rig was deployed to the Copper Duke Project (refer to ASX release dated 13 December 2021) and continues on the second hole validating geology and magnetic responses.

Managing Directors Comments:

"It is pleasing that the drills continue to return excellent high-grade gold and silver results from the Cerro Verde Prospect which confirm our interpretations and provide data to validate the previous resource estimation processes.

We are excited to get some drilling started in the El Huato area at Copper Duke this year. Whilst this preliminary drilling phase is shot, it is designed to assist with the planning of our future programs and signals a long- awaited start to serious exploration at Copper Duke"

Titan Minerals Limited, Suite 6, 295 Rokeby Road Subiaco WA 6008, [phone]	www.titanminerals.com.au
Laurie Marsland	Matthew Carr	Mark Flynn
Managing Director	Executive Director	Investor Relations + 61 416 068 733
[e-mail]	[e-mail]	[e-mail]

For personal use only

Diamond Drilling -

As has been previously reported Titan commenced a phase of resource definition and extensional drilling just ahead of the September Quarter.

To date the Company has completed 97 drill holes for 19,560 metres of diamond core drilling on the Cerro Verde Prospect. Assay results have now been received for 51 of the 97 holes drilled with the first 29 holes of the program previously reported (refer to the ASX releases dated 9 September and 17 November 2021).

This announcement provides an update of assay results received for the next 22 drill holes.

Figure 1: Cerro Verde Prospect Drill Collar locations

These assay results, in combination with an additional five (5) holes completed this quarter on the Iguana Prospect, leaves a balance of 51 drill holes completed and awaiting assay analyses, and another three (3) holes currently in progress. Extended laboratory turn-around times are not anticipated to abate going into new year and assay results for drilling completed through December are anticipated to be received incrementally from January through March of the new year.

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New Data

Assay results have now been returned from a further 22 holes totalling 4,453m of drilling in this program, and returning excellent high-grade results, with all reported drill holes returning significant gold intercepts ranging from the same magnitude of the previous drilling, to including several holes returning much higher grades and/or widths than predicted. Significant drill intercepts are included in Appendix A, however the better results from these 22 holes include:

• 1.98m @ 51.2g/t gold with 9.1g/t silver from 135.5m in CVD073
  CVD073 is a first drill test into a northwest oriented vein, previously identified only in surface channel sampling, located 130m northwest of hole CVD068:
• 6.59m @ 4.24g/t gold with 12g/t silver from 68.45m in CVD068
• 14.14m @ 6.42g/t gold with 16g/t silver from 87.09m drill depth in drill hole CVD072
  CVD072 is a first drill test into northwest trending vein set within the Cerro Verde prospect identified in historical trench sampling programs. Surface channel sample results above the drill trace range from 0.5g/t gold up to 3.81g/t gold at surface. CVD072 intersected a significant zone of quartz healed breccia associated with sulphide mineralisation, returning a broader intercept of 43.06m @ 2.56g/t gold from 84.94m depth.
  Located on a section 80m north of CVD037 both holes are drilled on the margins of a stockwork zone associated with an intrusion complex at the southern end of the Cerro Verde Prospect area. Both holes report much broader mineralized zones at a lower cut- off (0.3g/t gold), with CVD072 reporting 102.7m @ 1.44g/t gold from 46.5m depth to end of assays received to date for the 487m deep hole. Noting that the additional assay results for this hole past 149.2m depth will be reported once received.
• 7.27m @ 9.89g/t gold with 28g/t silver from 118.78m in CVD033 located 275m north of CVD072, drill hole CVD033 highlights the opportunity for high-grade shoots in the drill gap between these two holes that requires further drilling testing in the coming year.
• 6.75m @ 6.74g/t gold with 82g/t silver from 53.83m
  Intersected within, 18.1m @ 3.83g/t gold with 50g/t silver and, 4.39m @ 3.63g/t gold with 35g/t silver from 73.05m in CVD039
• 4.60m @ 5.83g/t gold with 25g/t silver from 61.9m in CVD069

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These initial drilling programs commenced by Titan have had a resource definition focus with an objective view to further validate the overall estimate. This has a first phase of increasing drill density to a nominal 40m (vertical) x 80m (along strike) pattern now completed for the Iguana and Cerro Verde Prospects. The initial focus on Iguana and Cerro Verde Prospects is due to its convenient access and logistics, with planned drilling now advancing to Papayal, hosting higher grade gold and silver results in previous channel sampling and limited drill testing.

Figure 2: Quartz veining and quartz breccia textures in hole CVD072, Interval returning 4.56m @ 11.2g/t gold

and 25.6g/t silver from 96.67m depth hosted in quartz diorite.

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Cerro Verde Prospect

The Cerro Verde Prospect in the southwest of the overall Dynasty Project manifests as an extensive cluster of ramifying high sulfidation epithermal veins.

As was concluded by the small-scale mining phase at Cerro Verde, the structural architecture and mineralisation halo's around the auriferous veins are more extensive than depicted by the previous polygonal estimates which had applied higher cut-off grades. Mine to model reconciliation studies for small scale mining activity as at December 2018 concluded 69% more tonnes at 85% of the grade for 39% more overall ounces were extracted from shallow open pits within the Cerro Verde Prospect area. Whilst too preliminary in evaluation to be conclusive, results are suggesting that this is a likely outcome for new resource estimation.

The previous resource estimate was broken between three main prospects, Papayal; Iguana; and Cerro Verde (Figure 3). Titan has been re-collating, validating and increasing drill density within the existing dataset to align it with JORC 2012 requirements, with the Cerro Verde area nearing completion of drilling.

Figure 3: Dynasty Project showing key Prospects and foreign resource estimates

PAPAYAL PROSPECT

Land access was recently granted to the area at the Papayal Prospect (refer Figure 2). Further resource definition drilling will commence mid-January, 2022 totalling a planned thirteen (13) diamond holes (including three (3) twin hole) for a proposed 2,500 metre programme to support 3D modelling of the previous polygonal model estimates (refer to Figure 3)

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