Dynasty Mineral Resource

Significant high-grade component of 17Mt @ 3.8 g/t Au, 24g/t Ag for a contained 2.1 Moz gold and 13 Moz silver

Key Highlights

  • Indicated and Inferred Mineral Resource Estimate of 43.5 Mt at 2.23 g/t Au & 15.7 g/t Ag for a contained 3.12 million ounces of gold and 21.98 million ounces of silver (reported > 0.5 g/t Au)
  • Mineral Resources reported by area:
    • Cerro Verde: 28.8Mt @ 2.08 g/t Au, 13.0 g/t Ag for 1.9 Moz Au, 12 Moz Ag
    • Iguana: 10.9Mt @ 2.02 g/t Au, 13.7 g/t Ag for 0.7 Moz Au, 4.8 Moz Ag
    • Trapichillo: 2.9Mt @ 3.80 g/t Au, 39.3 g/t Ag for 0.4 Moz Au, 3.7 Moz Ag
    • Papayal: 0.9Mt @ 4.54 g/t Au, 50.8 g/t Ag for 0.1 Moz Au, 1.4 Moz Ag
  • Significant high-grade component of 17.3Mt @ 3.77 g/t Au, 24 g/t Ag for a contained 2.1 Moz gold and 13.3 Moz silver (reported > 2 g/t Au)
  • Over half (52%) of Mineral Resources contained within 100 metres from surface
  • 39% Indicated and 61% Inferred Resources
  • Majority of Indicated resources at Cerro Verde prospect, which is largely credited to the additional drilling and QAQC work completed by Titan.
  • Papayal and Trapichillo vein systems exhibit extremely high gold and silver grades, albeit relatively low tonnes.
  • Papayal and Trapichillo has been very sparsely drilled, with these areas a focus for resource growth.
  • Dynasty Gold Project significantly derisked with completion of JORC compliant Mineral Resource, providing a robust 3D model for targeting resource growth and initiating future mine development studies.
  • Substantial depth extensions to the epithermal Au-Ag vein system confirmed to 350m in latest drill results at Brecha-Comanche (Cerro Verde), providing the confidence to test, and potentially add substantial resources through delineating depth extensions across the project.
  • Several high conviction areas for resource additions identified with minimal drilling required. Several significant drill intercepts were excluded from the resource due to uncertainty in geological interpretation in some areas. Minimal drilling required to improve geological understanding in these areas, representing potential near-term future resource additions.

The 3.1 million ounce gold and 22 million ounce silver resource is hosted within a 9 kilometre long by 2 kilometre wide corridor of epithermal gold and silver vein hosted mineralisation, of intermediate sulphidation type.

Interpretation and estimation of the Mineral Resource is based on data from 394 diamond drill holes (63,342.54 metres), 85 channels (2,089.02 metres) and 1,599 trenches (6,743.54 metres). Drilling and trenching campaigns were completed by Titan Minerals Ltd in 2021 and 2023 and in several phases of drilling by previous project operators from 2007 to 2019.

The Dynasty MRE includes the Cerro Verde, Iguana, Papayal and Trapichillo prospects, with clear potential for the resource to grow significantly, with the majority of resource remaining open, and in many areas only sparsely drilled. The epithermal gold-silver system remains largely untested below a depth of approximately 200 metres.

Completion of the JORC (2012) MRE represents a fantastic milestone for the Company and a significant derisking for the Dynasty project, with preliminary optimisation studies indicating robust economics, and the resource having potential to underpin an open pit followed by underground stope mining scenario.

The MRE provides a solid foundation for future resource growth and feasibility studies, in what Titan believes is a natural progression for the Dynasty Project, which has considerable exploration upside that remains to be tested.