Titan Mining Corporation (TSX:TI) is pleased to announce the completion of Phase I drilling at the Company’s Kilbourne Graphite Project. Phase I included a total of 11,916 feet (3,632 m) of drilling in 39 diamond drill holes. This phase of exploration has been focused on mineralization amenable to open pit mining within the fully permitted footprint of the Company’s 100% owned Empire State Mine in upstate New York.

Assays from 32 of the 39 holes have been returned to date, including the 17 holes highlighted below. Results from the most recent assays continued to demonstrate the consistency of graphitic carbon grades returned from the initial 15 holes from Phase I of drilling. These results were reported in the Company’s April 9, 2024 press release titled “Titan Mining Provides Initial Drill Results on the Kilbourne Graphite Project, Results Include 173.5 ft at 3.75% Graphitic Carbon”.

Significant mineralized intercepts from drilling include:

• KX24-017 – 143.5 feet assaying 3.6% graphitic carbon
• KX24-031 – 92.8 feet assaying 3.5% graphitic carbon
• KX23-016 – 89.1 feet assaying 3.1% graphitic carbon

Phase I has successfully tested 8,225 ft (2,507 m) of Kilbourne strike length, with graphitic carbon mineralization intercepted in all 39 holes. Twenty-nine of the 32 holes with assays returned intercepted graphite mineralization with an average thickness of 58.5 ft (17.8 m) for the upper mineralized zone, and 25.5 ft (7.8 m) for the lower mineralized zone. The non-weighted, arithmetic average grade of the mineralized intercepts is 3.1% graphitic carbon, with individual assays reaching 13.5% graphitic carbon.

Significant mineralized intercepts bookend the Kilbourne strike length within ESM’s active use permit. Mineralization remains open along strike, with an additional ~17,000 ft of the Kilbourne host geology mapped outside of the permitted ground. The mapped extent of this geologic unit falls within mineral rights held by the Company. The Company continues to develop its understanding of the Kilbourne deposit and plans for Phase II of drilling to commence in or before the fourth quarter of this year.

In addition to Phase I drilling, Titan has continued metallurgical and materials testing, with initial results expected in the third quarter of this year. These tests will provide the Company with a description of the size and quality of the flake graphite in concentrate and help guide additional test work and end use application studies.

Table I. Mineralized intercepts from Kilbourne exploration program (holes 16-32)

Note: The true width of the mineralization is not currently known.

Table II. Collar Location

Figure 1. Location of the Kilbourne Project relative to ESM Operations

Figure 2. Plan view of drilling showing the location of Kilbourne Exploration holes, planned drill holes, and trenching.

Figure 3. Cross section showing host lithologies with assays from 2023-2024 drilling. Highlighted are holes KX23-001, KX24-002, and KX24-015,KX24-016.

 Looking North East, section line marked on Figure 2.

Qualified Person

The scientific and technical information contained in this news release and the sampling, analytical and test data underlying the scientific and technical information has been reviewed, verified and approved by Donald R. Taylor, MSc., PG, President and Chief Executive Officer of the Company, a qualified person for the purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience and is a Registered Professional Geologist through the SME (registered member #4029597). Mr. Taylor verified the data disclosed, including sampling, analytical, and test data underlying the information included in this news release for which he is responsible, by performing a number of checks to confirm the accuracy of such data. In addition, Mr. Taylor reviewed the QA/QC reports from the Company’s drill programs and noted that there were no issues that arose which would affect confidence with the assay data.

Assays and Quality Assurance/Quality Control

To ensure reliable sample results, the Company has a rigorous QA/QC program in place that monitors the chain-of-custody of samples and includes the insertion of blanks and certified reference standards at statistically derived intervals within each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes. Drill core samples submitted for analysis had a minimum weight of 0.6 lb (0.3 kg) and a maximum weight of 6.0 lb (2.7 kg), with an average weight of 3.6 lb (1.6 kg). Trench samples submitted for analysis had a minimum weight of 4.2 lb (1.9 kg) and a maximum weight of 26.2 lb (11.9 kg), with an average weight of 6.2 lb (13.6 kg).

Analysis has been performed as SGS Canada Inc. an independent ISO/IEC accredited lab. Sample preparation (crushing and pulverizing) and total graphitic carbon analysis has been completed at SGS Lakefield, Ontario, Canada. SGS prepares a pulp of all samples and sends the pulps to their analytical laboratory in Burnaby, B.C., Canada for multielement analysis. SGS analyzes the pulp sample by leach and IR combustion for total graphitic carbon (GC_CSA05V) and aqua regia digestion (GE-ICP21B20 for 34 elements) with an ICP – OES finish including Cu (copper), Pb (lead), and Zn (zinc). All samples in which Cu (copper), Pb (lead), or Zn (zinc) are greater than 10,000 ppm are re-run using aqua regia digestion (GO_ICP21B100) with the elements reported in percentage (%).

The Company has not identified any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data set out in this news release. True widths of the mineralized zones described in this news release are not presently known.

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 built for growth, focused on value and committed to excellence.