Titan Declares 2nd Cash Dividend of Approximately C$1.4 million; Fixes US$1.50/lb Zinc Price for 60% of Q1 2022 Budgeted Production
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Titan Declares 2nd Cash Dividend of Approximately C$1.4 million;
Fixes US$1.50/lb Zinc Price for 60% of Q1 2022 Budgeted Production
Vancouver, B.C., December 2, 2021 – Titan Mining Corporation (TSX: TI) (“Titan” or the “Company”)
announces that its Board of Directors has declared a special cash dividend of C$0.01 per common
share (the “Dividend”) for an aggregate distribution of approximately C$1.4 million based on the current
number of shares outstanding. Titan also announces that it has entered into a fixed zinc pricing
arrangement pursuant to its existing offtake agreement with an affiliate of Glencore plc for 60% of the
Company’s budgeted zinc production for the first quarter of 2022 at a price of US$1.4954 per pound of
zinc.
Don Taylor, President and CEO, commented, “This second consecutive special dividend meets the
Company’s intention to pay regular quarterly dividends with the gradual increase in production at its
Empire State Mine. In addition, the certainty of US$1.50 per pound zinc from the fixed pricing
arrangement protects the Company from downside risk in the zinc price for Q1 2022 and is very
beneficial in delivering on the Company’s 2022 financial goals.”
The Dividend is payable on January 18, 2022 to shareholders of record at the close of business on
December 30, 2021.
The Dividend will be designated an “eligible dividend” for Canadian tax purposes. The declaration,
timing, amount and payment of future dividends remains at the discretion of the Board of Directors.
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.
For more information on the Company, please visit our website at www.titanminingcorp.com.
Contact
For further information, please contact:
Investor Relations:
Email: [email protected]
Cautionary Note Regarding Forward-Looking Information
Certain statements and information contained in this new release constitute "forward-looking
statements", and "forward-looking information" within the meaning of applicable securities laws
(collectively, "forward-looking statements"). These statements appear in a number of places in this news
release and include statements regarding our intent, or the beliefs or current expectations of our officers
and directors, including that the Company has an intention to pay regular quarterly dividends with the
gradual increase in production at its Empire State Mine; and that the certainty of US$1.50 per pound
zinc from the fixed pricing arrangement protects the Company from downside risk in the zinc price for
Q1 2022 and is very beneficial in delivering on the Company’s 2022 financial goals. When used in this
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news release words such as “to be”, "will", "planned", "expected", "potential", and similar expressions
are intended to identify these forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements since the Company can give no assurance
that such expectations will prove to be correct. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to vary materially from those
anticipated in such forward-looking statements, including the risks, uncertainties and other factors
identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking
statements are based on various assumptions, including assumptions made with regard to the ability to
advance exploration efforts at ESM; the results of such exploration efforts; the ability to secure adequate
financing (as needed); the Company maintaining its current strategy and objectives; and the Company’s
ability to achieve its growth objectives. While the Company considers these assumptions to be
reasonable, based on information currently available, they may prove to be incorrect. Except as required
by applicable law, we assume no obligation to update or to publicly announce the results of any change
to any forward-looking statement contained herein to reflect actual results, future events or
developments, changes in assumptions or changes in other factors affecting the forward-looking
statements. If we update any one or more forward-looking statements, no inference should be drawn
that we will make additional updates with respect to those or other forward-looking statements. You
should not place undue importance on forward-looking statements and should not rely upon these
statements as of any other date. All forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement.