15.5m at 3.0 g/t Gold and 22.8 g/t Silver Boosts Dynasty Resource Outlook

• 15.5m @ 3.0 g/t Au and 22.8 g/t Ag intersected at Iguana main zone
• Successful drilling extends mineralisation down-dip at Iguana East
• Four diamond rigs active with 5,400m drilling remaining in 2025 campaign
• A$20 million capital raise completed in December 2024 supports exploration
• Updated Mineral Resource and Scoping Study targeted for mid-2025

Strong Drilling Results Validate Historical Data

Titan Minerals Limited (ASX: TTM) has delivered a promising update from its ongoing resource drilling campaign at the Dynasty Gold Project in southern Ecuador. The highlight comes from the Iguana prospect, where a significant intercept of 15.5 metres grading 3.0 grams per tonne (g/t) gold and 22.8 g/t silver was returned from 89.1 metres downhole. This includes a higher-grade zone of 6.1 metres at 4.0 g/t gold and 40.1 g/t silver, underscoring the prospect’s robust mineralisation potential.

This result not only validates historical drilling but also enhances the geological confidence in the resource model. The intercept from drill hole IGDD24-027 notably improves on a previous hole that recorded 10.7 metres at 2.2 g/t gold, demonstrating both grade and continuity improvements.

Extending Mineralisation at Iguana East

Drilling at Iguana East, an area previously classified as Inferred Mineral Resources based on surface trenching and mapping but never drilled, has successfully confirmed mineralisation continuity at depth. Significant intercepts include 3.0 metres at 4.9 g/t gold and 11.2 g/t silver within a broader 9.8-metre zone grading 1.6 g/t gold. These results are expected to support an upgrade in resource classification and provide new targets for follow-up drilling.

Advancing the 2025 Drilling Campaign

Following a brief pause to assimilate initial results from approximately 4,600 metres drilled in late 2024, Titan has redeployed four diamond drill rigs to continue its 10,000-metre resource extension and infill program. The remaining 5,400 metres will focus primarily on extensional and infill drilling at the Cerro Verde prospect, alongside depth testing below the Iguana main zone. The company anticipates completing this phase by late March 2025.

Financial Strength Fuels Exploration Momentum

Titan’s exploration efforts are underpinned by a strong financial position, bolstered by a A$20 million capital raise completed in December 2024 and robust conversion of 35-cent options. This funding supports not only the ongoing drilling but also the delivery of an updated Mineral Resource Estimate (MRE) and the commencement of a Scoping Study for the Dynasty project, both slated for mid-2025.

Looking Ahead: Resource Update and Scoping Study

The company is preparing to update its Mineral Resource Estimate once the current drilling campaign concludes and the 3D geological model is refined. This update will be a critical input for the Scoping Study, which is already underway and includes metallurgical test work on fresh mineralisation samples from the Iguana zone. These studies will provide a clearer picture of the project’s economic potential and guide future development decisions.

Meanwhile, drilling continues at the Linderos Copper Project through joint venture partner Hanrine, with a 10,000-metre program underway to test copper porphyry extensions. This diversification adds further strategic value to Titan’s portfolio in Ecuador.

Bottom Line?

Titan Minerals’ latest drilling success at Dynasty sets the stage for a pivotal resource update and development study in 2025.

Questions in the middle?

• How will the upcoming Mineral Resource update impact Titan’s valuation and project classification?
• What are the implications of metallurgical test results on potential processing methods and costs?
• Could further drilling at Iguana East and Cerro Verde reveal additional high-grade zones or extensions?