Titan Mining Corporation (NYSE-A:TII) (TSX:TI), an established zinc concentrate producer in upstate New York and the only end-to-end producer of natural flake graphite in the U.S., today reported strong financial and operating performance for the first quarter ended March 31, 2026.

During the quarter, Titan delivered revenue growth, generated positive operating cash flow, commenced end-to-end domestic graphite shipments and advanced evaluation work related to potential germanium recovery from existing process streams. Natural flake graphite and germanium are critical minerals of significant priority to the U.S. Government, and Titan looks to become a key component of the U.S. minerals security supply chain.

Q1 2026 HIGHLIGHTS⁽⁾⁽²⁾

Operating and Financial Performance:

• Zinc production: 14.2 million payable pounds, in line with the mine plan
• Revenues: $19.6 million, up 22% from Q1 2025
• Cash costs: C1 cash costs of $0.98/lb, within guidance
• AISC: $1.01/lb, below guidance
• Adjusted EBITDA: $3.9 million in the quarter and forecast Adjusted EBITDA of $20 – $28 million for the year⁽³⁾
• Cash Balance: $13.8 million cash balance at quarter-end, up 13% from Q1 2025, reflecting continued balance sheet strength

Strategic and Corporate Developments:

• Kilbourne Graphite Project: Advancing toward commercial scale — Production and initial shipments of graphite concentrate commenced in Q1 2026, supporting ongoing customer qualification and advancing Titan’s vertically integrated U.S. graphite strategy, with a fully funded 40,000 tpa Feasibility Study underway
• Exploration: Drilling supports resource expansion — Graphite mineralization extended up to 2,500 feet beyond the current resource boundary, with grades consistent with the main deposit, highlighting meaningful expansion potential
• Germanium: Near-term recovery potential from existing streams — Germanium identified withi n existing process streams at Empire State Mines appears to be predominantly associated with mica and other gangue materials rather than sulphides. This finding helps define the potential recovery approach and highlights a potential incremental cash flow opportunity alongside the existing zinc operation.

1. _{Unless noted otherwise, all monetary figures are expressed in U.S. dollars.
   2.  C1 Cash Cost, All-In Sustaining Cost (“AISC”), Adjusted EBITDA and Net Debt are non-GAAP measures. Accordingly, these financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. These financial measures have been calculated on a basis consistent with historical periods. Information explaining these non-GAAP measures is provided below under “Non-GAAP Performance Measures”.
   3.  Estimated based on approximate cur rent spot zinc pricing, assuming production and costs remain in line with guidance. Actual realized pricing and Adjusted EBITDA may vary based on operational and market conditions.}

Rita Adiani, President and Chief Executive Officer, commented: “Titan is executing on a clear strategy, generating cash flow today while building the next generation of U.S. critical minerals supply. In the first quarter, we delivered consistent zinc production, commenced graphite shipments from an end-to-end domestic source, and advanced evaluation work related to the potential recovery of germanium from existing operations.

With a strengthened balance sheet and multiple near-term growth catalysts, we are positioning Titan to become a leading domestic supplier of materials essential to defense and industrial supply chains”.

TABLE 1 Financial and Operating Highlights⁽¹⁾⁽²⁾

1. _{Unless noted otherwise, all monetary figures are expressed in U.S. dollars.
   2.  C1 Cash Cost, All-In Sustaining Cost (“AISC”), Adjusted EBITDA and Net Debt are non-GAAP measures. Accordingly, these financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. These financial measures have been calculated on a basis consistent with historical periods. Information explaining these non-GAAP measures is provided below under “Non-GAAP Performance Measures”.}

Net loss before tax for Q1-2026 was $13.34 million, primarily attributable to a non-cash fair value loss of $13.19 million on derivative financial instruments as required under IFRS. These instruments are classified as financial liabilities measured at fair value through profit or loss and have no bearing on the Company’s operating performance. This is a non-cash item.

Cash used in operating activities after changes in non-cash wo rking capital was $2.05 million, driven by the Company’s $2.83 million investment in growth activities, including exploration, the graphite demonstration facility and the graphite feasibility study. The growth activities were fully funded from equity and debt proceeds and are expensed as per the company’s accounting policies.

ZINC OPERATIONS REVIEW

Mining in Q1 2026 was focused on the Mahler, New Fold, and Mud Pond Apron zones, with longhole stoping delivering above-target grades and tonnes. The Company optimized operations to prioritize higher-grade areas. Following a temporary hoisting disruption in January, the team successfully recovered the majority of deferred production through increased milling and extended shifts. Capital development advanced key infrastructure milestones, including the New Fold–Mahler ventilation connection and ramp development, alongside the commissioning of new underground equipment to support continued productivity.

GRAPHITE UPDATE

In Q1 2026, the Kilbourne Graphite Project advanced across key milestones. The demonstration facility delivered initial graphite concentrate shipments for customer qualification, marking an important step toward commercial development. The fully funded Feasibility Study for the proposed 40,000 tonne-per-year facility is progressing on schedule with support from EXIM’s Make More in America initiative.

EXPLORATION UPDATE

Zinc: Underground drilling in Q1 2026 focused on the Mahler and Mud Pond zones, with 4,726 ft completed to support near-mine resource expansion and mine planning. This included exploration drilling at the Little York target, where hole LY25-004 intersected 3.3 feet of 31% Zn, confirming high-grade upside potential. Drilling in Q2 will continue to target Mahler, Mud Pond, and New Fold.

Kilbourne Graphite Project: Drilling at Kilbourne totalled 13,384 ft across 37 holes in Q1 2026, focused on resource delineation, geotechnical work, and testing eastern extensions. Results confirmed graphite mineralization extending beyond the current conceptual pit, with grades consistent with the main deposit, including 255.1 ft at 3.0% Cg (KX26-077) and 92.2 ft at 3.1% Cg (KX26-079), highlighting strong potential for resource expansion and supporting future development planning. Drilling will continue in Q2 with a focus on delineating eastern mineralization and advancing geotechnical work.

Scientific and Technical Information

The scientific and technical information contained in this news release related to the Company’s exploration activities and zinc operations has been reviewed and approved by Matthew Melnyk, CPG #11540, Vice President Exploration and Geology of Titan Mining Corp., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

The scientific and technical information contained in this news release related to the Company’s germanium and graphite development has been reviewed and approved by Oliver Peters, MSc., P.Eng., who is a Qualified Person as defined by NI 43-101. Mr. Peters is independent of the Company.

Refer to the Company’s technical report titled “Empire State Mines 2025 NI 43-101 Technical Report, Gouverneur, New York, USA” for additional information.