Mr. Donald Taylor reports

TITAN REPORTS 16% INCREASE IN PRODUCTION WHILE LOWERING COSTS

Titan Mining Corp. has released the results for the year ended Dec. 31, 2023. (All amounts are in U.S. dollars unless otherwise stated).

Don Taylor, president and chief executive officer of Titan Mining, commented: "Titan finished 2023 with a strong fourth quarter in both safety and production, which allowed Empire State mine to produce a record 61.0 million payable zinc pounds in 2023. As we enter 2024, our plans are to continue the upward trajectory on production while improving our safety performance."

Full-year 2023 highlights:

• Safest year of operations on record at the Empire State mine since reopening, with an injury frequency rate of 0.7, 70 per cent lower than the national average;
• Produced 13.9 million pounds of payable zinc in the fourth quarter of 2023 and a record 61 million payable pounds of zinc in 2023, a 16-per-cent increase over the prior year;
• Announced the discovery of the Kilbourne graphite trend, an extensively drill-tested graphite-bearing trend located on permitted lands:
  • Drilling began in December, 2023, with eight holes totalling 2,074 feet completed to date with an additional 10,000 feet scheduled for 2024;
  • An initial bulk sample was identified and collected in January, 2024.

For further details, the reader is directed to the company's year ended Dec. 31, 2023, financial statements and management's discussion and analysis available on SEDAR+.

Operations review

Mining efforts in 2023 focused on the Mahler, New Fold and Mud Pond zones. Deepening of the lower Mahler ramp system provided access to high-grade ore in the Lower Mahler mining zone that supported strong grades and record metal production. It is expected that ore from this zone will continue to support budgeted zinc grades for full-year 2024. Mining is expected to continue in the same zones in 2024.

Major projects completed include the counterweight rail replacement for the service cage and the purchase of a telehandler for underground material movement.

Exploration update

Underground

Drill programs in 2023 targeted Lower Mahler, N2D, New Fold and Fowler. Underground drilling totalled 58 drill holes and 29,937 feet. Of these, eight were completed in the fourth quarter of 2023, totalling 5,884 feet. Drilling has continued to target New Fold and Lower Mahler in the first quarter of 2024. All underground drilling was completed with company-owned underground drills by company employees. Of the total drilling, five holes were completed targeting the downdip extensions of Lower Mahler, and the area between Lower Mahler and New Fold. A total of 7,984 feet were drilled, with mineralization intercepted 600 feet downdip from the current active faces of Lower Mahler.

Surface

Surface drilling in 2023 focused on the exploration and further delineation of the Turnpike project (formerly identified as Sphaleros). A total of 25 holes totalling 10,717 feet were drilled in the first and second quarters of 2023.

Two holes were drilled testing the 24 Crescent target, a district target within close proximity to existing Empire State mine infrastructure. Drilling totalled 2,023 feet.

Kilbourne

Titan Mining has begun work on further defining the Kilbourne graphite trend, a graphite exploration target hosted within the same stratigraphic sequence as ESM's zinc mineralization. The host unit is unit 2 of the lower marbles. Mapping and drilling have documented 8.2 kilometres of strike length to a depth of one kilometre from surface. Approximately 2.5 kilometres of this strike length is within the affected area of the Empire State mine and is covered by current permitting. The remaining strike length is securely within mineral rights held by ESM.

Exploration activities began in the third quarter of 2023 with surface trenching and channel sampling generating 99 samples. Based on that sampling, a representative bulk sample (X tons) was sent to RDI labs in Wheat Ridge, Colo., for metallurgical testing. Drilling began in the fourth quarter of 2023 and is projected to continue into the second quarter of 2024. To date, nine holes totalling 2,718 feet have been completed.

Assays and quality assurance/quality control

To ensure reliable sample results, the company has a rigorous QA/QC program in place that monitors the chain of custody of samples and includes the insertion of blanks and certified reference standards at statistically derived intervals within each batch of samples. Core is photographed and split in half with one-half retained in a secured facility for verification purposes.

Sample preparation (crushing and pulverizing) has been performed at ALS Geochemistry, an independent ISO/IEC accredited lab located in Sudbury, Ont., Canada. ALS prepares a pulp of all samples and sends the pulps to its analytical laboratory in Vancouver, B.C., Canada, for analysis. ALS analyzes the pulp sample by an aqua regia digestion (ME-ICP41 for 35 elements) with an ICP-AES finish including Cu (copper), Pb (lead) and Zn (zinc). All samples in which Cu, Pb or Zn are greater than 10,000 parts per million are rerun using aqua regia digestion (Cu-OG46, Pb-OG46 and and Zn-OG46) with the elements reported in percentage. Silver values are determined by an aqua regia digestion with an ICP-AES finish (ME-ICP41) with all samples with silver values greater than 100 ppm repeated using an aqua regia digestion overlimit method (Ag-OG46) calibrated for higher levels of silver contained. Gold values are determined by a 30-gram fire assay with an ICP-AES finish (Au-ICP21).

The company has not identified any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data set out in this news release.

Qualified person

The scientific and technical information contained in this news release and the sampling, analytical and test data underlying the scientific and technical information have been reviewed, verified and approved by Donald R. Taylor, MSc, PG, president and chief executive officer of the company, a qualified person for the purposes of National Instrument 43-101. Mr. Taylor has more than 25 years of mineral exploration and mining experience, and is a registered professional geologist through the SME (registered member No. 4029597). The data were verified using data validation and quality assurance procedures under high industry standards.

About Titan Mining Corp.

Titan Mining is an Augusta Group company which produces zinc concentrate at its 100-per-cent-owned Empire State mine located in New York State. Titan Mining is built for growth, focused on value and committed to excellence.

We seek Safe Harbor.