Titan Mining Drills Two New Zones of Near-Surface Mineralization, Including 80 Feet of 5.8% Zinc, 2.8% Lead and 28.2 g/t Silver - Seite 2

◦  Including 10.0 feet assaying 10.1% zinc, 0.9%lead and 11.6 g/t silver

Scott Burkett, Vice President, Exploration, commented, “The drilling results from the Hoist House and Turnpike zones are encouraging as we continue to confirm the presence of near-surface mineralization which may potentially support open-pit mining of incremental feed for our under-utilized mill at ESM. At Hoist House, continuity of mineralization has been demonstrated along strike and down dip. Initial drilling at Turnpike has identified robust mineralization up to 100 feet wide.”

The Hoist House zone, located one mile south of the ESM #4 mine and milling complex, is interpreted to be the unmined extension of the historic #2 zone. Historic drilling indicates that the Hoist House zone extends to a depth of at least 300 feet over a strike length of 600 feet. The most recent drill holes at Hoist House have extended both the hanging wall (“HW”) and footwall (“FW”) mineralized horizons (Figure 3), and drilling continues.

The Turnpike zone (Figure 4), located 600 feet to the southeast of the Hoist House zone, is interpreted to be the unmined extension of the historic #1 zone. Historic mapping identified outcropping mineralization with a strike length of 450 feet, and drilling has confirmed the presence of near-surface mineralization between 50 and 100 feet thick.

The Pumphouse zone (Figure 1) is located 500 feet to the southwest of the Hoist House zone and is interpreted as being an unmined lens of mineralization adjacent to the historic #2 zone. Mineralization outcrops on surface and historic drilling indicates a 20 to 40-foot-wide zone of mineralization with a strike length of 350 feet and could extend to a depth of at least 150 feet.

Don Taylor, Chief Executive Officer, said, “Drilling continues to indicate several near-surface targets representing potential low-cost opportunities for additional mill feed. Preliminary metallurgical tests on Hoist House zinc mineralization indicate that the processing method and recovery rates are similar to those for the #2D zone which is being developed for underground mining. In addition to zinc, the Hoist House and Turnpike zones contain galena and associated silver. The mill at ESM is currently outfitted with a lead circuit and will be tested to take advantage of the lead/silver content of the mineralization currently under investigation.”