Titan Minerals accelerates Dynasty growth strategy as drilling and scoping studies advance

Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) built strong momentum at its flagship Dynasty Gold Project during the June 2026 quarter, restarting resource drilling, identifying substantial extensions to mineralisation and advancing a scoping study scheduled for delivery in the fourth quarter.

Three diamond rigs are now operating across Dynasty in southern Ecuador as part of a 10,000-metre exploration and resource extension campaign designed to expand the project’s existing mineral resource of 65.55 million tonnes at 1.85 g/t gold and 12.38 g/t silver for 3.9 million ounces of gold and 26.1 million ounces of silver.

The program is primarily focused on the Cerro Verde prospect, which hosts around 70% of the total Dynasty resource, with drilling targeting resource growth, conversion and new exploration opportunities.

Surface mapping and trenching during the quarter also confirmed mineralisation extending around 400 metres west and 150 metres east of the current Cerro Verde resource boundary, highlighting potential for additional shallow material that could influence future open-pit development plans.

Drilling restarts across Dynasty

Titan completed 2,395 metres of exploration, extension and infill diamond drilling at Cerro Verde during the quarter, alongside 1,045 metres at the Gissell porphyry copper target.

The broader 10,000-metre campaign is testing extensions around the established resource as well as exploration targets across the Cerro Verde and Brecha-Comanche areas.

First assay results from the current drilling program are expected in the coming weeks, although Titan noted that high sample volumes at the ALS laboratory had affected turnaround times.

The company is targeting an updated Dynasty mineral resource estimate in the first quarter of 2027.

Titan chief executive officer Melanie Leighton said the return to drilling represented an important acceleration in activity at the project.

“The June Quarter marked an important step-change in momentum for Dynasty, with drilling recommencing across the project and three diamond rigs now turning,” she said.

“Our latest trenching results at Cerro Verde have again demonstrated the exceptional exploration upside that remains untapped at this project, which already boasts resources of 3.9Moz gold and 26.1Moz silver.”

Trenching identifies shallow resource growth potential

Titan’s systematic surface mapping and trenching program at Cerro Verde is designed to locate near-surface mineralisation and identify opportunities to grow the project’s oxide resource inventory.

Results reported during the quarter included:

• 6.1 metres at 5.1 g/t gold and 3.9 g/t silver;
• 3.7 metres at 3.8 g/t gold and 6.1 g/t silver;
• 3.5 metres at 3.9 g/t gold and 21.9 g/t silver;
• 1.6 metres at 12.6 g/t gold and 42.7 g/t silver;
• 4.4 metres at 3.1 g/t gold and 11.6 g/t silver;
• 9.5 metres at 1.4 g/t gold and 24 g/t silver; and
• 3.9 metres at 3.4 g/t gold and 6.8 g/t silver.

These results delineated new mineralised areas outside the current Cerro Verde resource, including the 400-metre western extension and 150-metre eastern extension.

Follow-up drilling has commenced to evaluate the grade and continuity of mineralisation below the surface results. Successful drilling could support the addition of shallow oxide resources within the project’s developing open-pit optimisation model.

The plan view included in Titan’s quarterly report shows multiple areas of mineralisation remaining open beyond the current resource blocks, reinforcing the company’s view that Cerro Verde retains considerable exploration upside.

Cerro Verde plan view showing the MRE block coloured by gold (g/t), diamond drill traces (grey), latest significant trench/ channel results and new areas of epithermal mineralisation being explored by surface mapping and trenching programs.

Scoping study targets Q4 delivery

Alongside drilling, Titan continued to progress the Dynasty scoping study, which is expected to provide a strategic framework for future feasibility work and resource conversion programs.

Independent mine consulting group Orelogy is advancing pit optimisation and engineering studies, while Ausenco has been appointed to undertake process design and capital and operating cost assessments.

Knight Piésold is also contributing to key study workstreams.

Preliminary pit designs produced through the optimisation process are being used to guide infill and conversion drilling. Titan anticipates that drilling on a nominal 40-metre by 40-metre spacing could improve the classification of resources to the Indicated category.

That work would support a future pre-feasibility study and the potential definition of an ore reserve.

The current Dynasty resource includes 17.36 million tonnes in the Indicated category at 2.18 g/t gold and 13.94 g/t silver for 1.21 million ounces of gold and 7.78 million ounces of silver.

A further 48.2 million tonnes at 1.73 g/t gold and 11.82 g/t silver is classified as Inferred, containing 2.68 million ounces of gold and 18.32 million ounces of silver.

Leighton said the multiple engineering workstreams were well advanced and the study remained on track for delivery in the fourth quarter of 2026.

“The Scoping Study is expected to provide a strategic framework for ongoing and future feasibility studies and resource conversion drilling at Dynasty,” she said.

Hancock-backed drilling progresses at Linderos

Titan also continued to benefit from partner-funded exploration at the Linderos Copper Project, where Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining is managing a two-phase, 25,000-metre diamond drilling program.

Hanrine has completed the initial 10,000-metre drilling commitment and is nearing completion of the second-phase 15,000-metre program.

Exploration has defined porphyry copper mineralisation over more than one kilometre of strike and to a vertical depth of about one kilometre at the Copper Ridge prospect.

The drilling is testing lateral extensions to the mineralised system as Hanrine advances the third milestone under the joint venture and earn-in agreement.

Completion of the milestone would increase Hanrine’s earned interest in Linderos by 21 percentage points to a cumulative 51%. Titan would also receive a US$1 million cash payment.

The final earn-in milestone involves a decision to mine and aggregate expenditure of US$120 million, which could ultimately lift Hanrine’s interest to 80%.

Copper portfolio advanced through low-cost exploration

Generative exploration and drill-targeting exercises also continued at Titan’s wholly owned Copper Duke and Copper Field projects during the quarter.

The programs are intended to improve Titan’s understanding of the potential for large-scale copper systems across its southern Ecuador portfolio while maintaining a relatively low-cost exploration approach.

Titan said the strong copper price environment continued to support its strategy of advancing multiple copper opportunities in parallel with the gold-focused work at Dynasty.

The combination of a wholly owned, multi-million-ounce gold and silver project and partner-funded copper exploration gives Titan exposure to several development pathways across its Ecuadorian asset base.

Strong cash position supports ongoing work

Titan ended the June quarter with cash of US$5.9 million, equivalent to approximately A$8.5 million.

The company spent US$1.3 million on exploration and evaluation activities during the period and reported estimated funding coverage of 3.25 quarters based on its recent operating and exploration expenditure.

Titan also received approximately US$882,000 from Hancock Prospecting as reimbursement for expenditure paid on Hanrine’s behalf at Linderos.

A further US$218,000 was received from the exercise of 528,695 options.

At quarter-end, Titan had 288,016,545 shares on issue and no drawn financing facilities.

Next steps

Titan’s immediate focus will be the release of the first assay results from the ongoing Dynasty drilling program.

Drilling will continue to test the western and eastern extensions identified through surface trenching, while infill work will target conversion of existing resources into the Indicated category.

The company will also advance the Dynasty scoping study toward its planned fourth-quarter delivery, with mine optimisation, processing design and capital and operating cost estimates expected to shape the next phase of development studies.

A mineral resource update is targeted for the first quarter of 2027.

At Linderos, Hanrine is expected to complete its 15,000-metre third-milestone drilling commitment, potentially increasing its project interest to 51% and triggering the US$1 million payment to Titan.