Supports Customer Qualification Program and Advances Commercialization of Titan’s New York Kilbourne Graphite Project
Titan Mining Corporation (NYSE-A:TII) (TSX:TI), a U.S.-focused critical minerals producer and developer, is pleased to announce that its wholly owned subsidiary, Empire State Mines, LLC, has entered into a non-binding Letter of Intent with a U.S. manufacturer serving the aerospace, defense and advanced industrial sectors for the supply of natural graphite products from Titan’s planned commercial graphite facility in New York.
The LOI represents an important milestone in Titan’s commercialization strategy and supports the Company’s ongoing customer qualification program as it advances development of a secure domestic U.S. natural graphite supply chain. The Company is building its commercial order book through a series of similar customer agreements as it advances towards allocating significant production capacity for its commercial facility.
“This is exactly the kind of validation we’ve been working toward,” said Rita Adiani, President and Chief Executive Officer of Titan. “Landing early interest from a qualified U.S. manufacturer at the heart of the aerospace and defense supply chain is a powerful signal that our New York graphite measures up to the most demanding specifications in the market. As Washington and industry double down on rebuilding domestic critical mineral supply chains, Titan is positioning itself to be a key American solution.”
HIGHLIGHTS
Natural graphite has been designated a critical mineral by the U.S. government and is essential to a wide range of strategic applications, including aerospace, defense, energy storage and advanced manufacturing. With the majority of global graphite processing capacity located in China, Titan’s Kilbourne Graphite Project is designed to establish a secure, traceable domestic source of natural graphite to support North American supply chains.
The Company continues to advance customer qualification programs across multiple end markets while progressing the feasibility study for its proposed commercial graphite facility.
The LOI is non-binding and remains subject to a number of conditions, including completion of Titan’s feasibility study, securing project financing, receipt of required regulatory approvals, successful completion of customer qualification and negotiation of a definitive supply agreement. There can be no assurance that a definitive agreement will be executed or that any commercial sales will result from the LOI.
About Titan Mining Corporation
Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York State. Titan is also the United States’ first end-to-end producer of natural flake graphite in 70 years and is advancing graphite and germanium initiatives to strengthen domestic critical minerals supply chains. The Company has also received support from the U.S. Export-Import Bank (EXIM) under its Make More in America Initiative. Titan’s goal is to deliver shareholder value through operational excellence, development, and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain.
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