Titan Minerals Limited provided an update on the Company's maiden drilling campaign at the Meseta Gold prospect at the Linderos Project in southern Ecuador. The Company has now completed fourteen diamond drill holes to an average depth of 90 metres at the Meseta Gold prospect. Pleasingly, multiple, narrow high-sulphidation pyrite- sphalerite-arsenopyrite±galena, massive sulphide veins have been intersected by Titan's maiden drilling.

Lithologies observed in drilling include: Andesite (Celica Formation): greenish lava flow, porphyritic texture, phenocrystals of plagioclase and hornblende in a microcrystalline groundmass. Siltstone (Zapotillo Formation): greyish coloured, parallel lamination. Granodiorite: as in Copper Ridge this lithology outcrops at Meseta.

Quartz diorite: light grey coloured, medium grained equigranular texture. Phreatic breccia: polymictic, poorly sorted, angular to subangular fragments, 5 to 100mm fragment size, clast supported breccia. Hydrothermal injection breccia: monomictic, cement supported, with subangular 3 to 10mm fragments of quartz-diorite cemented by sulphides predominately by pyrite, arsenopyrite and minor galena and sphalerite).

Most of the drilling at Meseta shows pervasive phyllic (quartz-paragonite±pyrite), grading to intermediate argillic (paragonite-illite) alteration. To the east, within the andesites, the intermediate argillic alteration includes chlorite in the alteration mineral assemblage. Mineralisation in veins occurs as massive pyrite, arsenopyrite, with minor galena and sphalerite.

Vein thicknesses range from 30 to 80cm with an average of 60cm observed in drill core. Visual estimates of sulphide minerals in veins range from 2 to 80% pyrite, 5 to 80% arsenopyrite, 0.5 to 10% pyrrhotite, lesser amounts of 0.5 to 2% galena and chalcopyrite. Wall rock mineralisation includes disseminated sulphides, with visual estimates ranging from 1 to 20% pyrite, 0.5 to 80% arsenopyrite, 1 to 5% sphalerite, several zones of 0.5 to 10% disseminated pyrrhotite, and isolated intervals of 0.5 to 1% galena, and 0.5 to 2% chalcopyrite.

Sulphide mineral species have been identified by geologists in hand specimen/diamond core, through the use of handlens and high powered miscroscope. In addition to this, portable XRF readings have also provided an indication of elemental abundances present in diamond core, which have been used to assist with mineral identification. Titan does caution that at this stage visual estimates of sulphide mineral abundances are provided as a guide only, and are not considered a proxy or substitute for laboratory analyses.

Quantititive confirmaiton of sulphide mineral percantages will be confirmed by multi-element laboratory analysis, with assay results anticipated in the coming 6 to 8 weeks. To the immediate northeast of Copper Ridge, gold mineralisation across the Meseta Gold prospect is hosted in steep to sub-vertical structures at the margins of the porphyry stock and is associated with strong silicification and oxidation of sulphides. Several alteration and sulphide mineralisation features indicate that this is an intermediate sulphidation gold system.

High-grade epithermal gold mineralisation was initially identified at the Meseta Gold prospect in 2017, when artisanal workings on a break-away slope were sampled. The slope exposes a stockwork of oxidised veinlets capped by transported boulders forming a plateau of perched alluvial sediments. The alluvial cap covers mineralisation and alteration in the area forming a geochemically blind target beneath only a few metres of transported material.

In 2018, diamond drilling confirmed higher grade gold mineralisation in fresh rock. All drill holes intersected extensive hydrothermal related alteration and localised gold mineralisation. An initial 18-hole program for 2,500m of diamond drilling is underway and has been designed to test the presence of plunging high-grade ore shoots at interpreted structural intersections.

The Linderos Project is located 20km southwest of the Company's Dynasty Gold Project and is comprised of four contiguous concessions totaling over 143km2 located near the Peruvian border in southern Ecuador's Loja Province. Located in a major flexure of the Andean Terrane, the Linderos Project is situated within a corridor of mineralisation extending from Peru through northern Ecuador that is associated with early to late Miocene aged intrusions. The majority of porphyry copper and epithermal gold deposits in southern Ecuador are associated with magmatism in this age range, with a number of these younger intrusions located along the margin of the extensive Cretaceous aged Tangula Batholith forming a favorable structural and metallogenic corridor for intrusion activity where Titan minerals holds a significant land position in southern Ecuador.