Titan Minerals Limited and Core Gold Inc. announced that the companies have entered into a binding arrangement agreement, pursuant to which Titan will acquire all of the issued and outstanding Core Gold common shares by way of a share exchange. Post-Merger, the proposed Board of Directors will consist of three nominees from Titan (Nicholas Rowley, Matthew Carr and Laurence Marsland) and three nominees from Core Gold (Gregg Sedun, Javier Reyes, and Mark Bailey). The Chairman of the combined company will be chosen from among the Core Gold director nominees.

Laurence Marsland has been nominated to assume the role of CEO and Managing Director, Matthew Carr will assume an Executive Director role and it is proposed that Keith Piggott will assume the role of President in Ecuador. In addition, Armando Alexandri is nominated to assume the role of Chief Operating Officer and Travis Schwertfeger is nominated to assume the role of Chief Geologist. The company will be based in Perth, Australia and the operational teams for each project will remain in place.