TI.TO · 2020-03-03 12:00:00

Titan Mining Identifies a Third Zone of Near-Surface Mineralization, Including 53 Feet of 6.5% Zinc, 0.5% Lead and 7.8 g/t Silver

Drill Results Sampling & Geoscience Results

Titan Mining Identifies a Third Zone of Near-Surface Mineralization,

Including 53 Feet of 6.5% Zinc, 0.5% Lead and 7.8 g/t Silver

Vancouver, B.C., March 3, 2020 – Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is

pleased to announce the delineation of a third zone of near-surface mineralization at its 100%-owned

Empire State Mine (“ESM”) in upstate New York. Drilling has successfully delineated three significant

zones of mineralization that can potentially be mined by lower cost open-pit mining methods and milled

at ESM’s milling complex located one mile to the north under ESM’s current mining permit, subject to

an update of the Mined Land Use Plan. This could allow for near-term development of the mineralization.

Highlights from the Recent Drilling Program:

All zones are located within an approximate 1-mile distance from the ESM mill. Please refer to

Figure 1. Highlights from the recent drilling include:

- Pumphouse Zone: Drilling has defined a zone of mineralization 25 feet thick over a strike length

of 300 feet extending to a depth of at least 150 feet with hole SX20-2554 returning 53.0 feet

assaying 6.5% zinc, 0.5% lead and 7.8 g/t silver, including 7.6 feet assaying 20.7% zinc, 1.6%

lead and 17.1 g/t silver.

- Hoist House Zone: Strike length extends to 750 feet with hole SX20-2557 returning 19.5 feet assaying

11.0% zinc, 1.7% lead and 19.5 g/t silver.

- Turnpike Zone: Step out and infill drilling continue to confirm mineralization continuity along strike and

down-dip with hole SX20-2561 returning 82.4 feet assaying 6.5% zinc, 2.1% lead and 14.7 g/t silver,

including 33.5 feet assaying 12.8% zinc, 4.6% lead and 29.4 g/t silver.

Preliminary metallurgy on the three near surface mineralized zones (Hoist House, Turnpike and

Pumphouse), indicate similar recoveries for zinc (94-96%) as being achieved from mineralized material

currently being mined from the #4 mining operations. Additionally, historic milling of mineralization

containing galena (lead) and silver have produced high concentrate grades but at lower recoveries. A

full array of testing is underway at Resource Development Inc (RDi) of Wheat Ridge, Colorado to

determine expected ranges for the recoveries.

Key mineralized intervals from the Pumphouse Zone include:

 53.0 feet assaying 6.5% zinc, 0.5% lead and 7.8 g/t silver

o Including 7.6 feet assaying 20.7% zinc, 1.6% lead and 17.1 g/t silver

 41.5 feet assaying 5.6% zinc, 0.4% lead and 9.8 g/t silver

o Including 8.8 feet assaying 16.8% zinc, 0.3% lead and 14.5 g/t silver

 16.5 feet assaying 12.2% zinc, 0.5% lead and 11.3 g/t silver

o Including 5.3 feet assaying 29.4% zinc, 0.7% lead and 23.4 g/t silver

 12.4 feet assaying 6.1% zinc, 1.1% lead and 9.1 g/t silver

o Including 1.7 feet assaying 16.6% zinc, 3.2% lead and 19.7 g/t silver

 22.6 feet assaying 6.4% zinc, 1.0% lead and 8.0 g/t silver

o Including 2.1 feet assaying 16.1% zinc, 0.2% lead and 7.5 g/t silver

Key mineralized intervals from the Hoist House Zone include:

 80.0 feet assaying 4.6% zinc, 0.3% lead and 4.3 g/t silver (FW)

o Including 15.0 feet assaying 13.6% zinc, 0.5% lead and 10.8 g/t silver

 122.2 feet assaying 5.4% zinc, 0.3% lead and 7.4 g/t silver (FW)

o Including 45.8 feet assaying 10.4% zinc, 0.4% lead and 8.1 g/t silver

 19.5 feet assaying 11.0% zinc, 1.7% lead and 19.4 g/t silver (FW)

Key mineralized intervals from the Turnpike Zone include:

 82.4 feet assaying 6.5% zinc, 2.1% lead and 14.7 g/t silver

o Including 33.5 feet assaying 12.8% zinc, 4.6% lead and 29.4 g/t silver

 100.0 feet assaying 2.6% zinc, 0.8% lead and 8.0 g/t silver

o Including 10 feet assaying 7.9% zinc, 1.8% lead and 10.7 g/t silver

 135.3 feet assaying 3.7% zinc, 0.5% lead and 6.1 g/t silver

o Including 7.7 feet assaying 10.9% zinc, 1.5% lead and 11.2 g/t silver

Scott Burkett, Vice President, Exploration, commented, “Drilling on Pumphouse, Hoist House and

Turnpike Zones is complete and has confirmed the continuity and tenor of mineralization, along strike

and down-dip for all three zones. Based on the drill hole results, ESM anticipates that the near surface

mineralization will support open pit mining and provide incremental feed to the under-utilized mill at

ESM.”

Due to the encouraging drill results from the three near surface mineralized zones, ESM has contracted

industry experts to further evaluate the open-pit potential. Results will be incorporated into the updated

Mined Land Use Plan (“MLUP”) and updated Preliminary Economic Assessment (“PEA”) scheduled for

completion in the first half of 2020. The following contractors will be working on the open-pit project and

updated MLUP and PEA:

 Knight Piesold – Geotechnical evaluation to determine pit slope stability and pit wall angles

 AMC Consultants – Pit optimization, design and scheduling as well as providing cost estimates

 SRK – Resource estimation

 RDi - Metallurgical studies to optimize lead and silver recoveries

 Johnny Pappas– Environmental and permitting

 IASL Lynda Bloom - QAQC

The Pumphouse Zone (Figures 1-2) is located 500 feet to the southwest of the Hoist House zone

and is interpreted as being an unmined lens of mineralization adjacent to the historic #2 zone.

Mineralization outcrops on surface and drilling has confirmed a 25-foot-wide zone of

mineralization with a strike length of 300 feet extending to at least 150 feet deep. Drill hole results

are listed in Table 1.

The Hoist House Zone, located one mile south of the ESM #4 mine and milling complex, is

interpreted to be the unmined extension of the historic #2 zone. Historic drilling indicates that the

Hoist House zone extends to a depth of at least 300 feet over a strike length of 750 feet. The most

recent drilling at Hoist House confirms footwall (“FW”) mineralization extends an additional 150

feet to the south (Figures 1-2). Significant intercepts are listed in Table 2.

The Turnpike Zone (Figures 1-2), located 600 feet to the southeast of the Hoist House zone, is

interpreted to be the unmined extension of the historic #1 zone. Historic mapping identified

outcropping mineralization with a strike length of 450 feet, and drilling has confirmed the presence

of near-surface mineralization between 50 and 100 feet thick. Significant intercepts are listed in

Table 3.

Don Taylor, Chief Executive Officer, said, “The highly successful drill results on the near surface

mineralized material has generated a lot of optimism as a low-cost way to increase our throughput

at ESM with low capital requirements. Once in production, this project has the potential to add a

combination of ESM and contractor employees totaling 24 jobs to our current workforce of

approximately 110 employees.”

Figure 1 – Location of Near-Surface Drill Targets at ESM

Figure 2 – Plan View of Pumphouse, Hoist House and Turnpike Zones Showing Drill Hole

Locations

Pumphouse Zone Drill Results

Table 1 – Exploration Drill Results from Pumphouse

* Based on observed geologic contacts, no representation is made here regarding the true width.

Drill hole From (feet) To (feet) Interval (feet)* Zn% Pb% Ag g/t Zone Horizon

SX19-2543 No Significant Intercepts Pumphouse

SX19-2544 No Significant Intercepts Pumphouse

SX20-2545 12.5 49.0 36.5 1.1 0.4 5.8 Pumphouse NA

SX20-2545 181.5 223.0 41.5 5.6 0.4 9.8 Pumphouse NA

including 181.5 190.3 8.8 16.8 0.3 14.5 Pumphouse NA

SX20-2545 278.5 295.0 16.5 12.2 0.5 11.3 Pumphouse NA

including 278.5 283.8 5.3 29.4 0.7 23.4 Pumphouse NA

SX20-2547 28.0 89.0 61.0 5.0 0.3 8.1 Pumphouse NA

including 65.4 84.4 19.0 10.2 0.4 8.4 Pumphouse NA

SX20-2547 102.6 146.0 43.4 2.3 0.3 6.8 Pumphouse NA

including 102.6 117.5 14.9 4.8 0.7 12.4 Pumphouse NA

SX20-2547 161.0 171.0 10.0 2.0 0.2 5.5 Pumphouse NA

SX20-2548 11.5 153.6 142.1 2.8 0.4 5.5 Pumphouse NA

including 60.5 69.3 8.8 10.3 0.8 10.0 Pumphouse NA

SX20-2549 24.5 52.9 28.4 3.1 0.4 17.7 Pumphouse NA

SX20-2550 65.7 132.5 66.8 3.6 0.6 10.1 Pumphouse NA

including 109.0 115.5 6.5 9.8 0.9 8.5 Pumphouse NA

SX20-2550 189.0 190.5 1.5 3.6 0.4 9.5 Pumphouse NA

SX20-2551 30.0 58.0 28.0 3.6 0.3 3.0 Pumphouse NA

including 42.8 49.2 6.4 9.8 0.8 7.1 Pumphouse NA

SX20-2552 106.8 119.2 12.4 6.1 1.1 9.1 Pumphouse NA

including 117.5 119.2 1.7 16.6 3.2 19.7 Pumphouse NA

SX20-2553 3.0 29.2 26.2 2.5 0.4 6.1 Pumphouse NA

including 18.8 23.3 4.5 6.0 0.8 12.4 Pumphouse NA

SX20-2554 10.0 63.0 53.0 6.5 0.5 7.8 Pumphouse NA

including 29.0 36.6 7.6 20.7 1.6 17.1 Pumphouse NA

SX20-2554 122.2 149.7 27.5 4.6 0.3 6.0 Pumphouse NA

including 130.5 142.2 11.7 8.5 0.4 6.2 Pumphouse NA

SX20-2555 10.6 33.2 22.6 6.4 1.0 8.0 Pumphouse NA

including 17.6 19.7 2.1 16.1 0.2 7.5 Pumphouse NA

SX20-2555 137.7 151.2 13.5 6.5 1.0 7.7 Pumphouse NA

including 145.9 149.3 3.4 15.7 2.6 18.1 Pumphouse NA

SX20-2556 20.0 27.0 7.0 0.9 0.0 3.5 Pumphouse NA

SX20-2556 69.2 75.0 5.8 6.9 0.1 6.4 Pumphouse NA

Hoist House Zone Drill Results

Table 2 – Exploration Drill Results from Hoist House

* Based on observed geologic contacts, no representation is made here regarding the true width.

Drill hole From (feet) To (feet) Interval (feet)* Zn% Pb% Ag g/t Zone Horizon Note

SX19-2475 66.5 77.5 11.0 6.4 0.8 14.9 Hoist House HW Previously Reported

SX19-2475 172.0 228.0 56.0 2.0 0.3 5.5 Hoist House FW Previously Reported

SX19-2476 77.5 93.0 15.5 8.0 0.4 6.9 Hoist House HW Previously Reported

including 83.7 88.0 4.3 19.3 0.4 8.0 Hoist House HW Previously Reported

SX19-2476 237.4 273.0 35.6 3.1 0.4 8.3 Hoist House FW Previously Reported

SX19-2477 73.3 88.3 15.0 12.4 1.6 17.2 Hoist House HW Previously Reported

SX19-2477 192.0 262.0 70.0 2.2 0.2 5.9 Hoist House HW Previously Reported

including 201.5 205.0 3.5 11.7 0.0 8.0 Hoist House FW Previously Reported

SX19-2478 79.0 87.0 8.0 11.0 0.7 13.2 Hoist House HW Previously Reported

SX19-2478 195.5 227.0 31.5 2.5 0.2 7.8 Hoist House FW Previously Reported

SX19-2479 67.1 83.0 15.9 5.6 0.9 18.5 Hoist House HW Previously Reported

including 73.0 78.8 5.8 10.2 2.0 27.5 Hoist House HW Previously Reported

SX19-2479 199.5 247.0 47.5 2.2 0.1 4.1 Hoist House FW Previously Reported

including 199.5 203.0 3.5 7.9 0.1 7.4 Hoist House FW Previously Reported

SX19-2480 62.0 87.0 25.0 4.5 0.5 20.3 Hoist House HW Previously Reported

SX19-2480 232.0 257.0 25.0 4.6 0.3 6.3 Hoist House FW Previously Reported

SX19-2480 277.0 307.0 30.0 1.2 0.3 6.6 Hoist House FW Previously Reported

SX19-2484 77.0 97.0 20.0 7.3 0.9 11.7 Hoist House HW Previously Reported

including 82.0 92.0 10.0 13.5 1.6 19.1 Hoist House HW Previously Reported

SX19-2484 167.0 177.0 10.0 2.7 0.2 5.0 Hoist House FW Previously Reported

SX19-2484 242.0 273.0 31.0 4.2 0.5 10.3 Hoist House FW Previously Reported

including 247.0 257.0 10.0 10.1 0.9 11.6 Hoist House FW Previously Reported

SX19-2487 59.5 62.0 2.5 7.3 0.6 6.2 Hoist House HW NA

SX19-2487 117.0 122.0 5.0 1.0 - 2.8 Hoist House FW NA

SX19-2487 167.0 247.0 80.0 4.6 0.3 4.3 Hoist House FW NA

including 167.0 182.0 15.0 13.6 0.5 10.8 Hoist House FW NA

SX19-2489 76.0 96.0 20.0 3.1 0.1 4.3 Hoist House HW NA

SX19-2489 131.0 191.0 60.0 2.9 0.5 10.6 Hoist House FW NA

including 161.0 176.0 15.0 6.2 0.7 7.0 Hoist House FW NA

SX19-2492 63.5 77.0 13.5 2.8 0.0 5.1 Hoist House HW NA

SX19-2492 97.0 140.0 43.0 2.5 0.2 5.1 Hoist House FW NA

including 121.0 132.0 11.0 5.8 0.5 9.2 Hoist House FW NA

SX19-2495 90.2 93.2 3.0 6.3 0.6 12.6 Hoist House HW NA

SX19-2495 152.0 163.5 11.5 10.2 0.1 9.3 Hoist House FW NA

including 160.3 163.5 3.3 21.7 0.1 12.3 Hoist House FW NA

Table 2 Continued – Exploration Drill Results from Hoist House

* Based on observed geologic contacts, no representation is made here regarding the true width.

Drill hole From (feet) To (feet) Interval (feet)* Zn% Pb% Ag g/t Zone Horizon Note

SX19-2499 73.3 83.7 10.4 2.9 0.3 9.7 Hoist House HW NA

SX19-2503 72.0 86.8 14.8 1.7 0.4 8.0 Hoist House HW NA

SX19-2503 186.2 213.4 27.2 2.9 0.3 12.4 Hoist House FW NA

including 211.4 213.4 2.0 20.8 0.0 12.0 Hoist House FW

SX19-2503 238.4 296.0 57.6 2.3 0.2 3.3 Hoist House FW NA

including 238.4 250.0 11.6 7.1 0.3 6.3 Hoist House FW

SX19-2504 75.5 88.9 13.4 3.3 0.4 16.6 Hoist House HW NA

SX19-2504 160.7 282.9 122.2 5.4 0.3 7.4 Hoist House FW NA

including 160.7 206.5 45.8 10.4 0.4 8.1 Hoist House FW

SX19-2505 94.0 96.9 2.9 0.7 0.0 3.1 Hoist House HW NA

SX19-2505 133.9 136.0 2.1 2.9 0.0 6.6 Hoist House FW NA

SX19-2505 151.0 209.5 58.5 1.6 0.2 2.7 Hoist House FW NA

including 151.0 153.0 2.0 11.5 0.8 20.6 Hoist House FW

SX19-2507 76.0 87.6 11.6 7.1 1.3 21.9 Hoist House HW NA

including 76.0 79.0 3.0 17.2 4.2 37.9 Hoist House HW

SX19-2507 202.0 210.5 8.5 2.7 0.0 6.1 Hoist House FW NA

SX19-2507 250.0 276.6 26.6 2.0 0.2 4.3 Hoist House FW NA

SX19-2508 75.8 85.2 9.4 5.8 0.4 6.9 Hoist House HW NA

SX19-2508 209.0 221.9 12.9 1.3 0.0 3.6 Hoist House FW NA

SX19-2508 267.8 289.0 21.2 2.5 0.4 3.9 Hoist House FW NA

including 267.8 275.4 7.6 6.3 0.9 9.0 Hoist House FW

SX19-2509 75.3 79.4 4.1 5.1 0.3 9.0 Hoist House HW NA

SX19-2509 195.0 235.3 40.3 1.0 0.0 3.3 Hoist House FW NA

SX19-2510 74.6 83.8 9.2 3.5 0.2 8.0 Hoist House HW NA

SX19-2510 175.0 212.1 37.1 2.3 0.2 5.0 Hoist House FW NA

including 190.0 193.9 3.9 11.1 0.1 4.8 Hoist House FW

SX19-2511 38.2 53.0 14.9 2.3 0.2 15.8 Hoist House HW NA

SX19-2511 130.2 140.0 9.8 1.9 - 4.2 Hoist House FW NA

SX19-2511 155.0 160.0 5.0 7.2 0.1 7.7 Hoist House FW NA

SX19-2511 199.0 218.0 19.0 3.3 0.3 2.9 Hoist House FW NA

including 205.3 209.5 4.2 10.2 0.6 6.1 Hoist House FW

SX19-2512 Hole Lost Hoist House

SX19-2513 30.8 49.0 18.2 6.5 0.2 13.0 Hoist House HW NA

including 30.8 39.0 8.2 10.1 0.1 6.5 Hoist House HW

SX19-2513 119.0 128.0 9.0 0.7 0.0 2.3 Hoist House FW NA

SX19-2513 148.0 205.0 57.0 1.5 0.1 3.7 Hoist House FW NA

including 175.6 178.6 3.0 11.6 0.1 9.9 Hoist House FW

Table 2 Continued – Exploration Drill Results from Hoist House

*Based on observed geologic contacts, no representation is made here regarding the true width.

Drill hole From (feet) To (feet) Interval (feet)* Zn% Pb% Ag g/t Zone Horizon Note

SX19-2514 Hole Lost Hoist House

SX19-2515 161.0 163.0 2.0 2.1 0.1 6.9 Hoist House HW NA

SX19-2516 154.0 157.0 3.0 2.8 0.3 4.7 Hoist House HW NA

SX19-2517 137.0 141.0 4.0 0.7 - 0.5 Hoist House HW NA

SX19-2517 147.5 168.0 20.5 3.5 0.1 2.9 Hoist House FW NA

including 147.5 150.3 2.8 12.1 0.1 4.2 Hoist House FW

SX19-2518 52.0 70.0 18.0 3.3 0.8 4.8 Hoist House FW NA

SX19-2519 43.3 72.5 29.2 4.3 1.1 6.4 Hoist House FW NA

including 48.4 57.0 8.6 8.3 2.1 10.7 Hoist House FW

SX19-2521 144.1 166.8 22.7 3.0 0.4 6.3 Hoist House HW NA

including 154.7 158.9 4.2 7.0 2.0 18.2 Hoist House HW

SX19-2522 Hole Lost Hoist House

SX19-2523 149.6 175.0 25.4 4.7 0.7 21.2 Hoist House HW NA

including 149.6 155.3 5.7 13.5 0.3 6.6 Hoist House HW

SX19-2525 31.0 51.0 20.0 1.9 0.6 5.4 Hoist House FW NA

including 31.0 35.0 4.0 7.9 2.6 16.8 Hoist House FW

SX19-2527 23.0 39.3 16.3 4.6 1.3 14.5 Hoist House FW NA

including 27.8 35.0 7.2 8.3 2.4 24.5 Hoist House FW

SX19-2528 No Significant Intercepts Hoist House

SX19-2532 149.7 159.3 9.6 2.7 0.3 6.4 Hoist House HW NA

including 149.7 151.7 2.0 8.7 1.1 12.9 Hoist House HW

SX19-2533 217.8 223.0 5.2 8.9 1.4 10.9 Hoist House HW NA

SX19-2536 110.0 130.0 20.0 1.1 0.2 5.0 Hoist House FW NA

SX19-2537 59.5 62.7 3.2 1.6 0.3 4.0 Hoist House FW NA

SX20-2538 96.0 126.5 30.5 2.1 0.3 6.2 Hoist House FW NA

including 106.0 111.0 5.0 4.9 0.2 11.7 Hoist House FW

SX20-2539 43.9 63.0 19.1 2.8 0.1 5.0 Hoist House FW NA

including 43.9 52.6 8.7 4.5 0.1 3.6 Hoist House FW

SX20-2540 54.0 55.5 1.5 3.7 0.2 2.9 Hoist House FW NA

SX20-2541 17.0 29.0 12.0 1.9 0.1 8.4 Hoist House FW NA

SX20-2557 7.0 26.5 19.5 11.0 1.7 19.4 Hoist House FW NA

SX20-2557 33.4 56.2 22.8 1.1 0.2 3.0 Hoist House FW NA

SX20-2557 73.9 82.2 8.3 3.1 0.3 3.7 Hoist House FW NA

SX19-2558 Hole Lost Hoist House

SX19-2559 Hole Lost Hoist House

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