Titan Minerals Receives Overwhelming Support for Takeover of Core Gold - More Than 80% of Core Shares Tendered

Final Offer Extension and Intent to Pursue Delisting of Core Gold and Acquire All Outstanding Core Shares Via Second Step Amalgamation

HIGHLIGHTS

• Core Gold shareholders have now tendered 82.34% of the outstanding Core Shares ⁽¹⁾ to the Offer
• Titan to take up and pay for the Core Shares tendered to date
• Upon take-up of the deposited Core Shares, Titan will hold 83.31% of Core Gold, including the 5.48% held on commencement of the Offer
• Having secured in excess of the 66.6% requirement, Titan now intends to pursue the delisting of Core Gold, and the acquisition of remaining Core Shares via a second step transaction
• In order to gain immediate final acceptances, Titan has extended the period Core Gold shareholders have to tender their Core Shares under the Offer until 9:00 a.m. (Toronto time) on February 7, 2020.  No further extensions are anticipated
• All conditions of the Offer have been met

TORONTO, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Following the announcement on January 14, 2020 that Titan Minerals Limited (the "Company" or "Titan") (ASX: TTM) has successfully met or waived all the conditions to its offer (the “Offer”) to purchase all of the issued and outstanding common shares (the “Core Shares”) of Core Gold Inc. ("Core Gold") (TSXV: CGLD) ⁽²⁾, the Company is pleased to announce that as at Monday January 27, 2020, an additional 44,346,578 Core Shares have been tendered to Titan under the terms of the Offer. The addition of these newly tendered Core Shares increases the total number of Core Shares tendered to Titan under the Offer to 129,865,724 and represents 82.34% of the issued and outstanding Core Shares, excluding Core Shares beneficially owned or over which control or direction is exercised by Titan or any person acting jointly or in concert with Titan.

All of the conditions of the Offer have been satisfied or waived by Titan. In accordance with the terms of the Offer, Titan has already taken up and paid for the Core Shares that were tendered prior to the initial expiry time at 9:00 a.m. (Toronto time) January 14, 2020 (the “Initial Expiry Time”) and will immediately take up the Core Shares that have been tendered since the Initial Expiry Time and pay for the additional Core Shares taken up as soon as possible and, in any event, not later than three business days after the additional Core Shares are taken up.