Titan Minerals : Amended - Drilling Commences at Copper Duke Project

Corporate StructureIssued Shares: 1.391 billion onlyIssued Options: 92.6 million

Share Price: $ 0.10

Market Cap (9/12/21): A$139m

Titan Minerals Ltd (ASX:TTM) is usean xplorer and developer of the rich cordilleras of the Andes

in Southern Ecuador.

Titan's main projects are rich in

porphyry copper, gold and silver mineralisation and range from early-stage exploration to

personalMatthew Carr- Executive Director
advanced	pre-development
st tus.
They include:
1.	Dynasty Gold Project;
2.	Copper Duke Project;
3.	Linderos Project;
4.	Jerusalem Project.

Board of Directors

P t r G Cook - Non-execChairman Laurie Marsland - Managing Director

Nicholas Rowley- Non-execDirector

ForBa y Bourne- Non Exec. Director

Zane Lewis- Company Secretary

Key Management

Mike Skead - Executive Vice

President Exploration

ASX Release - 13 December 2021

DRILLING COMMENCES AT COPPER DUKE

The Board of Titan Minerals Limited (ASX: TTM) (Titan or the Company) is pleased to advise that it has commenced an inaugural round of reconnaissance drilling at the Company's 100% held Copper Duke project.

The objective of this first program, which is squeezed in before the onset of the wet season, is to validate historic results from two diamond holes drilled in 1978 by the United Nations (U.N.) aimed at discovering molybdenum but intersecting gold mineralisation. Additionally, the first hole tested an interpreted magnetic target proximal to one of those historic holes.

Background work by way of geophysics, geochemistry, mapping and rock chip sampling is being completed, progressing numerous targets generated earlier this year from newly completed airborne magnetic and radiometric surveys (refer to ASX release dated 2 March 2021).

The core from the first hole, HTD001, looks visually encouraging with zones of magnetite veining within predominantly andesitic volcanics, and magnetite veining often associated with pyrite and cross cut by narrow quartz pyrite veinlets associated with pervasive alteration and localised quartz-sericite-pyrite alteration in the silicified rocks.

Figure 1: Drillhole location map of hole HTD001, and proposed HTD002 drill site on Analytical Signal

Filter image of airborne magnetic response, with surface geochemistry results

Titan Minerals Limited, Suite 6, 295 Rokeby Road Subiaco WA 6008, [phone] www.titanminerlas.com.au

Laurie Marsland	Matthew Carr	Mark Flynn
Managing Director	Executive Director	Investor Relations + 61 416 068 733
[e-mail]	[e-mail]	[e-mail]

For personal use only

ASX RELEASE - 13 December 2021

Titan Managing Director, Laurie Marsland commented:

"It is gratifying to finally be able to schedule two drill holes at Copper Duke before the end of this drill season.

Our objectives in this short program are modest with the objective of validating previous data and collecting core to analyse and prepare for more detailed strategy. We will also get to test a newly identified geophysical anomaly which will provide great information on geology, alteration and structures controlling the magnetic features beneath more than 1.5km by 6km corridor of gold-copper mineralisation mapped at surface."

DIAMOND DRILLING

The Company has moved to divert one of its drill rigs to Copper Duke to complete two holes for a planned 540m campaign before the wet season curtails access in this drill season.

This program has two main objectives:

1. The validation of results from an historical completed in 1978 as follow-up work to a U.N. survey to identify strategic base metal potential in the region.

In that program drill hole SON-02 was drilled to a depth of 220m depth and only the top 62.75m was assayed for gold and silver with published results declaring an interval of 45.4m @ 1.9g/t gold from surface. The description notes poor core recovery to in the upper part of the hole. (Refer to ASX release dated 25 May 2020).

In addition, Titan will extend the depth of its first hole HTD001 to approximately 300m to test the source of 291m of magnetic anomalism highlighted in 3D inversion modelling of the high- resolution magnetic datasets generated earlier this year.

2. A second hole is planned to be drilled 1.5km to the southeast on a sub-parallel trend of magnetic anomalies associated with relatively higher gold grades and increasing vein density noted in surface mapping and sampling to the southeast in the El Huato target.

The first core from the diamond hole, HTD001, hole looks visually encouraging intersecting zones of magnetite veining within predominantly andesitic volcanics, including magnetite veining often associated with pyrite and cross-cut by narrow quartz-pyrite veinlets (refer to Plates 1 and 2a) associated with pervasive alteration and localised quartz-sericite-pyrite alteration in the silicified rocks (refer to Plate 1c and Appendix B).

Several narrow diorite instrusions (dykes) are intersected hosting disseminated magnetite but the dykes are less altered than the surrounding volcanic sequence and do not appear to be a causitive intrusion for porphyry style mineralisation.

Table 1: Copper Duke drill hole location

	HoleID			Azimuth			Dip			Depth of			Easting			Northing			Elevation
							Hole (m)
	HTD001	317		220		291.07		648257		9543301		1,978

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ASX RELEASE - 13 December 2021

For personal use only

Plate 1: HTD001 core (31.64m to 35m interval), intersecting andesitic volcanic with partially oxidised quartz- pyrite stockworks and narrow quartz-pyrite-chalcopyrite veinlets

	2a				2b				2c

Plate 2: (2a) volcanic breccia unit hosting intense disseminated magnetite and quartz-magnetite filled fractures cross-cut by quartz-pyrite-chlorite filled fractures (from 56.4m depth) - (2b) silicified and quartz-pyrite-sericite altered andesite with magnetite-pyrite veinlets and quartz-pyrite type stockworks (from 216.9m depth), and (2c) Strongly silicified volcanics, intensely chlorite to sericite altered with quartz-pyrite veining (from 257.2m depth).

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ASX RELEASE - 13 December 2021

EXPLORATION UPDATE

Titan continues to progress its surface reconnaissance works at the Copper Duke Project. In the September quarter programs of systematic soil geochemistry surveys were initiated concurrent mapping and rock/channel sampling. These were focused on priority targets generated from high resolution airborne geophysics generated earlier in the year (refer to ASX releases dated 21 January and 2 March 2021).

The soil survey campaign is nearing completion with the soil geochemistry coverage for the Copper Duke Project increased by approximately 300%, and an additional 270 rock chip samples along with over 1,900m of channel sampling have been completed in the process of ground truthing the geophysical interpretations of magnetic and radiometric data. Assay results for surface geochemistry are anticipated over the coming week.

ABOUT THE COPPER DUKE PROJECT

Copper Duke is an early-stage exploration project located approximately 18km east of the Company's more advanced Dynasty Gold Project.

Comprised of thirteen concessions totalling 130km2 in the Loja Province of southern Ecuador, Copper Duke is host to multiple porphyritic textured intrusions associated with extensive copper-gold anomalism and quartz hosted gold veining outcropping at surface.

The high resolution airborne magnetic and radiometric survey completed by Titan Minerals in late 2020 is the first significant catalyst in advancement of the Copper Duke Project since exploration activity ceased in 2007, leaving significant un-drilled potential at Copper Duke.

Following integration of historical data with airborne geophysical results to better define and rank targets for mapping and systematic geochemistry work, Titan has progressed an aggressive mapping and sampling campaign in 2021 and reconnaissance drilling is being progressed to validate historical work. Results of ongoing exploration activities will support a ranking of numerous drill ready targets planned for Q1 of 2022 ahead of maiden drill testing budgeted for mid-2022.

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ASX RELEASE - 13 December 2021

For personal use only

Figure 1:Location of Titan Minerals Projects in Southern Ecuador

- ENDS -

Released with the authority of the Board.

For further information on the company and our projects, please visit: www.titanminerals.com.au

Contact:
Titan Minerals
Laurie Marsland	Matthew Carr	Mark Flynn
Managing Director	Executive Director	Investor Relations
[e-mail]	[e-mail]	[e-mail]
[phone]	[phone]	[phone]

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