Titan Minerals Limited provided an update on the Company's maiden drilling campaign at the Copper Ridge Porphyry prospect at the Linderos Project in southern Ecuador. The Company has now completed four diamond drillholes at the Copper Ridge Porphyry prospect as part of its maiden drilling campaign. Drilling has been designed to target porphyry mineralisation as highlighted by surface mapping and geochemistry, and limited historical drilling completed at the prospect.

Pleasingly, all four diamond holes drilled at the Copper Ridge prospect have been successful in intersecting wide intervals of porphyry style disseminated and vein hosted chalcopyrite-pyrite- molybdenite±pyrrhotite mineralisation from shallow depths. Diamond holes have been drilled to an average depth of 500 metres with a total of 1,985 metres drilled to date. A further two diamond holes are currently being drilled as part of the first pass exploration drilling campaign.

Continued systematic logging of key geological features such as lithology, alteration, sulphide mineralogy (percentages and ratios), vein style and abundance, is improving the Company's understanding of the controls, and potential scale of the porphyry mineral system being targeted. Lithological units identified in diamond drilling are described below from oldest to the youngest: Andesites (Celica Formation): dark grey colour, aphanitic texture.; Tonalite porphyry (former granodiorite): stocks as extensions from the Tangula Batholith characterised by light grey colour and porphyritic texture, contains "quartz eye" phenocrysts.; Quartz diorite porphyry: crowded porphyritic texture, composed of phenocrystals of quartz, plagioclase and hornblende, in a microcrystalline groundmass.; and Diorite porphyry dykes: fine grained porphyritic texture, composed of phenocrysts of plagioclase and hornblende in aphanitic groundmass. Alteration types observed include potassic, phyllic, and intermediate argillic, with several complex phases of alteration overprinting evident in drill core.

Potassic alteration (biotite-K-felspar-quartz±magnetite-chlorite), is pervasive affecting diorite porphyry and andesites. Phyllic alteration (quartz-sericite-pyrite) is seen to overprint the potassic alteration assemblage. Intermediate argillic alteration (chlorite-smectite-illite ±carbonates), is pervasive and occurs as veins, overprinting former phyllic and potassic alteration.

Sulphide mineralisation observed at Copper Ridge includes chalcopyrite, pyrite, molybdenite, pyrrhotite and magnetite, both disseminated in groundmass and within quartz veinlets. Disseminated chalcopyrite (cpy) is observed to replace mafic minerals. Disseminated molybdenite (mo) is observed in groundmass and is also present in B-type quartz veinlets, as sutures and in the margins to these veins.

Pyrrhotite (ph) is disseminated and is observed to replace mafic minerals in zones of potassic alteration. Magnetite (mt) is disseminated and observed to be overprinting/replacing mafic minerals. Veining observed in drilling is described as follows: Stockworks of coarse milky quartz veinlets: massive texture, 5 to 30 mm wide.; Isolated sulphide veinlets: 2 mm wide, composed of variable amounts of pyrite and chalcopyrite.

A-type quartz veinlets: usually as stockwork arrays, massive texture, translucent, grey colour, 2 to 6 mm wide.; B-type quartz veinlets: occurring as isolated veinlets, massive texture, translucent, grey colour, 2 to 6 mm wide. Veinlets are filled by quartz, molybdenum on edges and chalcopyrite and pyrite in sutures.; and D-type quartz veinlets: characterized by isolated and sheeted arrays, massive texture, 3 mm wide. Fillings of pyrite, quartz, carbonates, with sericite-chlorite halos.

Vein volume estimation is routinely recorded along two-metre intervals in the drill core, to provide a consistent methodology and dataset for quartz vein abundance estimation. Quartz vein abundance contours can be used to define the borders of porphyry intrusions, with increasing quartz vein abundance commonly correlating with an increase in chalcopyrite and molybdenite mineralisation, as is typically observed in large-scale porphyry deposits. opper Ridge Porphyry Prospect The Copper Ridge Porphyry prospect (Copper Ridge) features surface copper-molybdenum anomalism highlighted by channel and soil sampling recently completed by Titan.

Mapping has confirmed that copper-molybdenum mineralisation is centred on dioritic porphyry intrusions approximately one kilometre in diameter, with these porphyritic intrusions also containing abundant mineralised quartz veining and copper oxide mineralisation at surface. A copper-gold mineralisation event has also been identified as a separate and later mineralisation event, crosscutting the copper-molybdenum east-west trend. Future exploration and drill targeting will aim to follow this gold trend at depth.

An initial 6 diamond drill hole program is underway to test the Copper Ridge porphyry prospect. A campaign of diamond drilling totalling 3,000m has been designed to a nominal depth of 500m to test the copper-molybdenum porphyry system. Drilling is aimed at intersecting the earlier, better mineralised porphyry, observed as xenoliths in inter-mineral mineralised porphyries logged in historical drill core.

Key parameters used for drill design were structural framework, porphyry intrusion chronology (i.e., porphyry phases), quartz vein abundance, airborne magnetics and radiometrics, soil and channel sample geochemistry and Induced Polarisation (IP) chargeability isosurfaces. Once this initial campaign of drilling has been completed and assay results compiled, the Company will be well positioned to design additional follow up drilling.