Vancouver, B.C., August 31, 2020 – Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) is pleased to announce the signing of an Option Agreement (the “Agreement”) on the Mineral Ridge Property located in Esmerelda County, Nevada (“Mineral Ridge Property”) from Scorpio Gold Corporation (TSX.V: SGN ) (“Scorpio Gold”) through its US affiliates.

Mineral Ridge Highlights
•Current open pit Mineral Resource of 350,000 oz gold at an average grade of 1.16 g/t
•Fully permitted for production and drill-ready
•Widespread mineralization, only sporadic exploration completed to date
•Historical drill results, never followed up, on including: ?1.17 oz gold per ton over 25 ft or 40.1 g/t gold over 7.6m
?0.55 oz gold per ton over 30 ft or 18.9 g/t gold over 9.1m
?0.31 oz gold per ton over 40 ft or 10.6 g/t gold over 12.2m
?0.34 oz gold per ton over 30 ft or 11.7 g/t gold over 9.1m
?0.28 oz gold per ton over 40 ft or 9.6 g/t gold over 12.2m


Titan Chairman, Richard Warke, commented, “After an extensive review, we are delighted to have found another US-based asset with tremendous upside potential, much like our Empire State Mine. What we see in Mineral Ridge is a property with widespread, high grade mineralization that has never seen a comprehensive exploration program given a lack of adequate funding and historical focus on small scale mining. Mineral Ridge fits all of the criteria we have as a mining company for assets: the property is in a great jurisdiction, is fully permitted for production and drilling, and has known resources of 350,000 ounces of gold, and tremendous exploration potential. We believe a portfolio of projects that fits this strategy is the best way to grow and translate into building substantial value for our shareholders.”

Figure 1: Location map of Mineral Ridge and ownership boundary

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Titan CEO, Don Taylor, stated, “The property is a well-endowed mineralized system that has, to date, been woefully under-explored. The Company is finalizing its exploration programs and budgets and, as funding requirements become clear, will seek to raise additional capital via an equity offering, which will be backed by Titan’s Chairman, Richard Warke. Our plan will be to immediately begin a comprehensive drill campaign with a target to expand resources around the existing open pits and thoroughly test the other targets with the potential for new discoveries.”

Exploration Plan

Initially, exploration will focus on the down-dip and strike extensions of the Drinkwater, Mary, Mary LC, Brodie NW, Custer, Bunkhouse and the Oromonte pit areas outside the existing Mineral Resources previously defined (refer to Figure 2 highlighting areas of previous mining, planned mining and exploration target areas). Examples of select drill intercepts that will require follow-up are:
•Oromonte target area; ?1.17 oz gold per ton over 25 ft or 40.1 g/t gold over 7.6m
?0.55 oz gold per ton over 30 ft or 18.9 g/t gold over 9.1m
?0.49 oz gold per ton over 13 ft or 16.8 g/t 13.2 gold feet 4.0m
?0.31 oz gold per ton over 40 ft or 10.6 g/t gold over 12.2m

•Custer target area; ?0.47 oz gold per ton over 15 ft or 16.1 g/t gold over 4.6m
?0.34 oz gold per ton over 30 ft or 11.7 g/t gold over 9.1m
?0.28 oz gold per ton over 40 ft or 9.6 g/t gold over 12.2m
?0.24 oz gold per ton over 25 ft or 8.2 g/t gold over 7.6m


Seven additional targets, outside the production areas, have been identified for immediate exploration drilling. These targets include: North Springs, Chieftain, Vanderbilt, Custer Ridge, Drinkwater NW and Tarantula. These targets have been prioritized based on surface sampling of high-grade gold and/or a combination of structure and lithology hosting anomalous gold (refer to Figure 3).

Figure 2: Mineral Ridge highlighting areas of previous mining, planned mining and exploration target areas.
The Mineral Ridge Property is a fully permitted mine and mill operation comprised of approximately 14,000 acres of patented, fee-owned, and unpatented mining claims which include certain water rights (refer to Figure 1 for location and boundary map). Historically, the property has produced approximately 1 million ounces of gold from underground and open pit mining operations. The recent history of the project under Scorpio Gold focused on identifying Resources and Reserves to support potential for small-scale mining. With this in mind, an Updated Feasibility Study and National Instrument Technical Report on the Mineral Ridge Project was reported on January 2, 2018, showcasing gold hosted in remaining heap leach material and remnant pit areas with Mineral Resources inventory totaling approximately 350,000 ounces of gold, inclusive of Mineral Reserves. A summary of Mineral Resources and Mineral Reserves by category can be seen in Table 1 and Table 2.

Table 1: Mineral Resources Summary
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