Titan Mining Corporation (TSX: TI, OTCQB: TIMCF) ("Titan" or the
"Company") is pleased to announce the addition of 43,943 acres of
mineral rights through lease and option agreements with St.
Lawrence County, New York. This expansion brings Titan’s total
mineral tenure in upstate New York to over 120,000 acres,
increasing the discovery opportunities for additional zinc and
graphite resources as well as iron-oxide copper gold ("IOCG")
deposits.
Highlights:
- Consolidates the mineralized trend
between Titan’s Empire State Mine ("ESM") and the historic Edwards
Mine (6,567,660 tons produced at 10.76% Zn).
- Properties added include the
historic Clifton Magnetite Mine and Parish Magnetite occurrence to
Titan’s portfolio. These prospects highlight the potential for IOCG
mineralization. Historic drilling has encountered copper sulfides
and recent sampling returned surface gold values of 0.1–0.4 g/t
Au.
- Expansion includes areas
prospective for additional graphite mineralization as highlighted
by Titans airborne geophysical surveys.
- Includes 37,867 acres under lease
and 6,075 acres under an option to lease as outlined in Figure
1.
- Titan has committed to giving
qualified St. Lawrence County residents hiring priority for jobs
created through exploration and development.
The new parcels were selected based on their
mining history, exploration records, and geologic potential,
targeting base metals (zinc and lead), graphite, and polymetallic
(gold, copper, and iron).
Don Taylor, CEO of Titan commented: “The
conclusion of this cooperative agreement with St. Lawrence County
expands Titan’s highly prospective mineral tenure to over 120,000
acres. The expanded land position will increase our opportunities
for additional zinc and graphite discoveries and provides access to
occurrences of historic oxide iron deposits known to host
potentially commercial amounts of copper and gold. This expanded
mineral tenure is further evidence of Titan’s long-term plans and
commitment to our employees and surrounding communities of upstate
New York.”
Rita Adiani, President of Titan commented: “This
agreement highlights Titan’s long-term commitment to St. Lawrence
County in New York state. Expanding our exploration footprint
strengthens our partnership with the County and supports local
hiring and economic growth.”
St Lawrence County Board of Legislators Chair
David Forsythe commented: "St. Lawrence County is proud to work
with Titan to bring new jobs and new investment to expand our
economy by exploring and harnessing our untapped mineral wealth.
For too long, these valuable resources have been forgotten or left
waiting to be discovered. The St. Lawrence County Industrial
Development Agency, River Valley Development Agency and Development
Authority of the North Country have teamed up with the county
legislature and Titan to make this project happen and show that our
area is open to for business and new investment.”
St. Lawrence County Legislative District
Representative William Sheridan commented: “This agreement with
Titan represents a major step forward in unlocking the economic
potential of our region. By prioritizing local hiring and
committing to responsible development, this project will bring
high-quality jobs, stimulate local businesses, and generate
long-term revenue for St. Lawrence County. We’re proud to support a
partnership that advances both our community’s economic resilience
and its connection to New York’s rich mining heritage.”
Iron Oxide Copper-Gold (IOCG)
Potential
A portion of the expanded land package includes
the historic Adirondack Magnetite District, an area with a long
history of iron mining but minimal modern exploration for copper
and gold often associated with these type deposits. Significant
geological and geophysical evidence highlight the size potential of
the iron bodies. Historic drilling has encountered magnetite to a
depth of 600 feet. Reported in the historic drilling are zones of
copper mineralization that were not assayed. Assays of recent
surface sampling by ESM geologists have returned gold values of up
to 0.41 g/t Au, with trace copper up to 0.05%. A surface
exploration program is planned to identify areas of higher
potential within the iron bodies which will be followed by surface
diamond drilling.
Zinc and Graphite
The additional acreage consolidates ground
between ESM and the historic Edwards Mine (6,567,660 tons produced
at 10.76% Zn). Several zinc and graphite targets have been
identified, with field mapping and sampling of the expanded lands
to commence in 2025.
Exploration Planning
The expanded tenure has led to an updated
exploration strategy for 2025, building on plans announced in the
Company’s January 7, 2025, press release. Titan currently has 18
drill-ready targets with five located on the new parcels, including
the Parish prospect. Drilling commenced in January at Pleasant
Valley, with future programs as outlined in Figure 1 planned at the
Pork Creek, Moss Ridge, Parish, and Bend targets.
Key Terms of the Lease and Option to
Lease Agreement
Titan has leased mineral rights over 56 parcels
(37,867 acres) and holds an option to lease an additional 37
parcels (6,075 acres). The lease agreement is for a term of up to
40 years and the option agreement is for a term of up to 25 years
(exercisable into a lease with a lease term of up to 40 additional
years). Titan has agreed to pay all taxes due on the parcels leased
from St. Lawrence County. The Company has also committed to giving
qualified St. Lawrence County residents hiring priority for jobs
created through exploration and development.
Figure 1: Additions to land package and ESM Drill Targets for
2025 (green triangles) and future targets (black triangles).
Figure 2: Parish Magnetic Anomaly, with sample locations and
historic prospect pits marked.
Sample ID |
UTM East |
UTM North |
Elevation (m) |
Au ppm |
Cuppm |
Fe % |
499912 |
503947 |
4911482 |
396 |
0.32 |
349 |
40.6 |
499913 |
503945 |
4911481 |
396 |
0.11 |
483 |
34.4 |
499914 |
503968 |
4911447 |
394 |
0.411 |
11 |
34.3 |
499915 |
503968 |
4911447 |
394 |
-0.005 |
16 |
7.56 |
Table 1:Parish sample locations and assayed grades of Gold (Au
ppm), Copper (Cu ppm), and Iron (Fe %).
Quality Assurance and Quality Control
Surface sampling was conducted by ESM personnel.
Samples were collected using a rock hammer, with samples placed
into cloth bags labeled with an assigned sample identification
number. A sample tag corresponding to the assigned sample
identification number was also inserted into the bag. Sample
locations were collected and recorded on handheld GPS. A
representative piece of each sample has been retained by the
Company. Sample bags were secured with a draw string, weighed, and
packed in shipping boxes.
For samples related to base and precious metal
exploration, shipping boxes are placed on pallets and shipped by
freight to ALS Geochemistry (“ALS”), an independent ISO/IEC
accredited lab located in Sudbury, Ontario, Canada. ALS prepares a
pulp of all samples and sends the pulps to their analytical
laboratory in Vancouver, B.C., Canada, for analysis. ALS analyzes
the pulp sample by four acid digestion (ME-ICP61 for 34 elements)
with an ICP – AES finish including Cu (copper), Pb (lead), and Zn
(zinc). All samples in which Fe (iron) are greater than 50 percent
(%) are re-run using four acid digestion (Fe-OG62). Gold values are
determined by a 30 g fire assay with an AAS finish (Au-AAP23).
The scientific and technical information
contained in this news release has been reviewed and approved by
Donald R. Taylor, MSc., PG, Chief Executive Officer of the Company.
Mr. Taylor has a fulsome staff of experts on-site that thoroughly
review and verify ESM technical data on a regular basis. For this
reason, Mr. Taylor has relied entirely on such verification
procedures for verifying the scientific and technical data in this
news release. Mr. Taylor did not identify any drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the technical data disclosed herein.
Mr. Taylor is a qualified person for the
purposes of NI 43-101. Mr. Taylor has more than 25 years of mineral
exploration and mining experience and is a Registered Professional
Geologist through the SME (registered member #4029597).
About Titan Mining
Corporation
Titan is an Augusta Group company which produces
zinc concentrate at its 100%-owned Empire State Mine located in New
York state. Titan’s goal is to deliver shareholder value through
operational excellence, development and exploration. We have a
strong commitment towards developing critical minerals assets which
enhance the security of the domestic supply chain. For more
information on the Company, please visit our website at
www.titanminingcorp.com.
Contact
For further information, please contact: Investor
Relations: Email: info@titanminingcorp.com
Cautionary Note Regarding
Forward-Looking Information
Certain statements and information contained in
this new release constitute "forward-looking statements", and
"forward-looking information" within the meaning of applicable
securities laws (collectively, "forward-looking statements"). These
statements appear in a number of places in this news release and
include statements regarding our intent, or the beliefs or current
expectations of our officers and directors, including that the
expanded land position will increase Titan’s opportunities for
additional zinc and graphite discoveries; a surface exploration
program is planned to identify areas of higher potential within the
iron bodies which will be followed by surface diamond drilling;
several zinc and graphite targets have been identified, with field
mapping and sampling of the expanded lands to commence in 2025;
future programs as outlined in Figure 1, planned at Pork Creek,
Moss Ridge, Parish, and Bend targets; exploration targets and
plans. When used in this news release words such as “to be”,
"will", "planned", "expected", "potential", and similar expressions
are intended to identify these forward-looking statements. Although
the Company believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue
reliance should not be placed on forward-looking statements since
the Company can give no assurance that such expectations will prove
to be correct. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or
events to vary materially from those anticipated in such
forward-looking statements, including risks relating to cost
increases for capital and operating costs; risks of shortages and
fluctuating costs of equipment or supplies; risks relating to
fluctuations in the price of zinc; the inherently hazardous nature
of mining-related activities; potential effects on our operations
of environmental regulations in New York State; risks due to legal
proceedings; risks related to operation of mining projects
generally and the risks, uncertainties and other factors identified
in the Company's periodic filings with Canadian securities
regulators. Such forward-looking statements are based on various
assumptions, including assumptions made with regard to our
forecasts and expected cash flows; our projected capital and
operating costs; our expectations regarding mining and
metallurgical recoveries; mine life and production rates; that laws
or regulations impacting mining activities will remain consistent;
our approved business plans; our mineral resource estimates and
results of the PEA; our experience with regulators; political and
social support of the mining industry in New York State; our
experience and knowledge of the New York State mining industry and
our expectations of economic conditions and the price of zinc; the
ability to advance exploration efforts at ESM; the results of such
exploration efforts; the ability to secure adequate financing (as
needed); the Company maintaining its current strategy and
objectives; and the Company’s ability to achieve its growth
objectives. While the Company considers these assumptions to be
reasonable, based on information currently available, they may
prove to be incorrect. Except as required by applicable law, we
assume no obligation to update or to publicly announce the results
of any change to any forward-looking statement contained herein to
reflect actual results, future events or developments, changes in
assumptions or changes in other factors affecting the
forward-looking statements. If we update any one or more
forward-looking statements, no inference should be drawn that we
will make additional updates with respect to those or other
forward-looking statements. You should not place undue importance
on forward-looking statements and should not rely upon these
statements as of any other date. All forward-looking statements
contained in this news release are expressly qualified in their
entirety by this cautionary statement.
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/a35b45b0-3daa-44a8-8f55-744666a32161
https://www.globenewswire.com/NewsRoom/AttachmentNg/ffb2786e-6732-4842-b0f5-d2d980c324bc
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