An anonymous director reports

TITAN MINING ANNOUNCES US$10M BRIDGE LOAN

Titan Mining Corp. has arranged a $10-million (U.S.) bridge loan from the company's largest shareholder, Augusta Investments Inc. Proceeds from this loan have been used to repay part of the company's current credit facility with National Bank of Canada (NBC), bringing the outstanding amount down from $27.2-million to $17.2-million following the payment to NBC. The company and Augusta Investments are in continuing negotiations regarding terms of this loan and of the $5-million (U.S.) advance made by Augusta Investments earlier this year.

About Titan Mining Corp.

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

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