Titan Mining Corporation (TSX: TI) (OTCQB: TIMCF) is pleased to announce that it has agreed to certain amendments to the credit facility with National Bank of Canada dated June 6, 2022 which will result in Titan significantly deleveraging by the end of 2025 while maintaining flexibility to pursue multiple growth projects within the Company.

Highlights:

• Principal repayment of US$5 million by December 30, 2024, for an aggregate of US$17 million in principal repaid in 2024
• Extension of the Credit Facility maturity date from June 30, 2025 to December 31, 2025
• Extension of the remaining principal repayment from $10.2 million by June 30, 2025 to US$5 million by June 30, 2025 and US$5.2 million by December 31, 2025

Don Taylor, CEO of Titan, commented: “We are pleased to have achieved a key milestone for Titan with a total of US$17 million of principal being repaid towards the outstanding Credit Facility in 2024. The Company’s Empire State Mines continues to deliver strong results operationally and we remain focused on reducing unit costs and improving cash flow. The revisions to the Credit Facility will allow us to achieve our goal of significantly deleveraging the Company while advancing near term expansion. We are excited to be entering 2025 with a stronger balance sheet and renewed financial momentum”.

Rita Adiani, President of Titan, commented: “The amended payment schedule for the Credit Facility provides Titan with the financial flexibility to capitalize on multiple growth opportunities in 2025 while continuing to reduce debt, positioning us well for 2025 and beyond. As we focus on executing potential near-term increases to production, supported by a favorable zinc price environment, we are committed to unlocking significant value for our shareholders”.

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. The Company is focused on value creation and operating excellence, with a strong commitment to developing critical mineral assets that enhance the security of the U.S. supply chain and the Kilbourne Graphite Project is a core part of this strategy.