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Investor Presentation | June 2025 Ecuadorâs Next Gold DeveloperFor personal use only
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2 ASX:TTM Disclaimer and Forward-Looking Statements COMPETENT PERSONâS STATEMENTS The information in this report that relates to Exploration Results is based on and fairly represents information compiled by Ms Melanie Leighton, who is an experienced geologist and a Member of The Australian Institute of Geoscientists. Ms Leighton is a full-time employee at Titan Minerals and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the âAustralasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reservesâ. Ms Leighton consents to their inclusion in the report of the matters based on this information in the form and context in which it appears. With respect to estimates of Mineral Resources, announced on 6 July 2023, (MRE Announcement) the Company confirms that it is not aware of any new information or data that materially effects the information in the MRE Announcement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. NOT FINANCIAL PRODUCT ADVICE This presentation does not constitute financial product advice and does not consider any investorâs personal investment objectives, taxation situation, financial situation or needs. This presentation consists purely of factual information and does not involve or imply a recommendation of a statement of opinion in respect of whether to buy, sell or hold a financial product. An investment in Titan is considered to be speculative in nature. Before making any investment decision in connection with any acquisition of securities, investors should consult their own legal, tax and/or financial advisers in relation to the information in, and action taken on the basis of, this presentation. NO LIABILITY To the extent permitted by law, Titan makes no guarantee representation or warranty express or implied as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this presentation. To the maximum extent permitted by law, Titan and each of its affiliates and its directors, officers, employees, associates, advisers and agents expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. To the extent permitted by law, no responsibility or liability is assumed by Titan or any of its affiliates and its directors, officers, employees, associates, advisers and agents for updating any information in this presentation or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which Titan and any of its affiliates or advisers may become aware. FORWARD LOOKING STATEMENTS Certain information in this document refers to the intentions of Titan, but these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of the events in the future are subject to risk, uncertainties and other actions that may cause Titanâs actual results, performance or achievements to differ from those referred to in this document. Accordingly, Titan and its affiliates and their directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of these events referred to in the document will actually occur as contemplated. Statements contained in this document, including but not limited to those regarding the possible or assumed future costs, performance, dividends, returns, revenue, exchange rates, potential growth of Titan, industry growth or other projections and any estimated company earnings are or may be forward looking statements. Forward-looking statements can generally be identified by the use of words such as âprojectâ, âforeseeâ, âplanâ, âexpectâ, âaimâ, âintendâ, âanticipateâ, âbelieveâ, âestimateâ, âmayâ, âshouldâ, âwillâ or similar expressions. These statements relate to future events and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of Titan. Actual results, performance, actions and developments of Titan may differ materially from those expressed or implied by the forward-looking statements in this document. Such forward-looking statements speak only as of the date of this document. There can be no assurance that actual outcomes will not differ materially from these statements. To the maximum extent permitted by law, Titan and any of its affiliates and their directors, officers, employees, agents, associates and advisers: ⢠disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions; ⢠do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and ⢠disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). ACCEPTANCE By attending an investor presentation or briefing, or accepting, accessing or reviewing this document you acknowledge and agree to the "Disclaimer" as set out above. AUTHORISATION Released with the authority of the board of Titan Minerals Ltd. COPPER EQUIVALENT (CU EQ) VALUES â REQUIREMENTS UNDER THE JORC CODE Assumed commodity prices for the calculation of Copper Equivalent (Cu Eq) is Cu US$3.00/lb, Au US$1,700/oz, Mo US$14/lb and Ag US$20/oz. Recoveries are assumed from similar deposits: Cu = 85%, Au = 65%, Ag = 65%, Mo = 80%. Cu Eq (%) was calculated using the following formula: ((Cu% x Cu price 1% per tonne x Cu recovery) + (Au(g/t) x Au price per g/t x Au recovery) + (Mo ppm x Mo price per g/t x Mo recovery) + Ag ppm x Ag price per g/t x Ag recovery)) / (Cu price 1% per tonne x Cu recovery). Cu Eq (%) = Cu (%) + (0.54 x Au (g/t)) + (0.00037 x Mo (ppm)) + (0.0063 x Ag (ppm)). TTM confirms that it is the Companyâs opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. SUMMARY INFORMATION This document contains a summary of information about Titan and its activities that is current as at the date of this document. The information in this document is general in nature and does not purport to be complete or to contain all the information which a prospective investor may require in evaluating a possible investment in Titan or that would be required in a prospectus or a product disclosure statement prepared in accordance with the Corporations Act 2001 (Cth) (Corporations Act). NOT AN OFFER OF SECURITIES This presentation has been prepared by Titan Minerals Limited (âTitanâ or the âCompanyâ) and is provided for informational purposes only. This presentation does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities of Titan This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in any jurisdiction (in particular, the United States), or a securities recommendation. This presentation is not a prospectus, product disclosure statement or other offering document under Australian law or any other law and will not be lodged with the Australian Securities and Investments Commission. Dynasty Project Indicated Inferred Total Tonnes (M) Grade (g/t) Contained Metal (Moz) Tonnes (M) Grade (g/t) Contained Metal (Moz) Tonnes (M) Grade (g/t) Contained Metal (Moz) Au Ag Au Ag Au Ag Au Ag Au Ag Au Ag Cerro Verde 15.17 2.01 13.51 0.98 6.59 13.63 2.15 12.44 0.94 5.45 28.80 2.08 13.00 1.92 12.04 Iguana 2.41 2.36 16.08 0.18 1.25 8.52 1.92 13.00 0.53 3.56 10.93 2.02 13.68 0.71 4.81 Trapichillo 0.05 1.89 9.28 0.00 0.01 2.89 3.83 39.80 0.36 3.70 2.94 3.80 39.31 0.36 3.71 Papayal 0.46 3.04 48.24 0.05 0.72 0.41 6.24 53.80 0.08 0.71 0.87 4.54 50.85 0.13 1.43 Total 18.09 2.09 14.73 1.21 8.57 25.44 2.33 16.40 1.90 13.41 43.54 2.23 15.70 3.12 21.98 Notes: 1.Reported ⼠0.5 g/t Au. 2.Some rounding errors may be present. 3.Tables are rounded as the final steps. Totals are not calculated after rounding. 4.M â million. Oz- ounce. g/t â grams per tonne. For personal use only
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3 ASX:TTM Investment Highlights Near-term gold developer with high growth copper projects in the underexplored Andean Copper Belt 100% Owned 3.1Moz Au Dynasty Gold Project Large Scale Copper potential across Multiple Projects Active Programs & Strong Newsflow ⢠World class potential across 478km2 portfolio of gold and copper projects in the underexplored Andean copper belt ⢠Strong regional M&A First Mover Advantage in Underexplored Andean Copper Belt Board & Management with a Proven Capability Dynasty Gold (100%) Size: 139km2 Geology: High grade epithermal gold and porphyry copper Resource: 3.1Moz gold and 22Moz silver ⢠3.1Moz Gold & 22Moz Silver resource from surface and significant lateral and depth resource growth potential ⢠Strong recoveries demonstrated via conventional processing ⢠Hancock spending up to US$120M for 80% of Linderos Copper Project ⢠100% owned Copper Duke and Copper Field significant greenfield potential ⢠New copper porphyry targets unlocked at Dynasty ⢠Experienced Board & Management with a proven capability to deliver on discovery and development ⢠10,000m resource drill program underway at Dynasty, 3 rigs on site delivering strong and consistent newsflow ⢠MRE Update targeting Q3 2025 Linderos Copper (95% TTM/ 5% Hancock) Size: 143km2 Geology: Porphyry copper and high grade epithermal gold Copper Duke (100%) Size: 131km2 Geology: Porphyry copper, breccia copper and high grade epithermal gold Copper Field (100%) Size: 65km2 Geology: Porphyry copper and high grade epithermal gold For personal use only
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4 ASX:TTM Corporate Snapshot Strong balance sheet provides clear pathway to growth and development Capital Structure Board Top Shareholders Peter Cook Non-Executive Chairman Matthew Carr Executive Director Barry Bourne Non-Executive Director Share Price1 A$0.40 Total Shares & CDIs on Issue 261M Market Capitalisation A$105M Options on Issue2 17M Net Cash (31 March 25) A$17.2M Enterprise Value A$88M Share price (12 months) High Net Wealth 35% TTM Directors 3% Institutions 20% Other 42% - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 $0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 Market volume Share Price (A$) Note 1: As at 6 June 2025 Note 2: 17.3 million options at $0.70 expiring 31 January 2027 Research For personal use only
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5 ASX:TTM Board & Management Team MELANIE LEIGHTON CHIEF EXECUTIVE OFFICER Geologist & Business Master ⢠+20 yearsâ experience in exploration, development and mining in precious & base metals. ⢠Considerable experience in LATAM and porphyry copper. ⢠Held management and senior roles with Hot Chili Ltd and Harmony Gold. PETER COOK NON- EXECUTIVE CHAIRMAN Geologist & Mineral Economist ⢠+35 years' in exploration, mining and corporate management. ⢠Founded & served as Managing Director/ Chairman for many successful resource companies. MATTHEW CARR EXECUTIVE DIRECTOR Entrepreneur & Project Developer ⢠Experienced company director, founder of Urban Capital Group, a PE firm with a focus on property backed investment and security. BARRY BOURNE NON-EXEC DIRECTOR Geologist and Geophysicist ⢠Founder and Principal Consultant at Terra Resources, specialising in exploration targeting. ⢠Held senior and management roles with Barrick Gold and Homestake Gold. ⢠+ 30 yearsâ experience in exploration, development and mining. ⢠Former Director of Geoscience in Newmontâs Global Projects Team and Former Director of Global Exploration for Goldcorp. ⢠Significant experience in emerging mining jurisdictions. Spent 1 year in Ecuador building out the team and systems. ⢠+20 yearsâ experience in epithermal gold systems and copper-gold porphyry systems. ⢠Previous roles held with Barrick, Newmont, Kinross and Rio Tinto. ⢠Experience across Cretaceous, Palaeocene, Eocene-Oligocene and Miocene Belts of Chile and Mexico. PABLO MORELLI EXPLORATION MANAGER MICHAEL SKEAD CHIEF TECHNICAL ADVISOR Right team assembled to add substantial value through discovery and developmentFor personal use only
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6 ASX:TTM Ecuador: An Emerging Tier 1 Mining Jurisdiction Significant new investment in Ecuador to meet future metals demand Strong Government Support ⢠Low tax rates, low inflation, fast permitting, mining contributes 1-2% GDP ⢠President Noboa re-elected for a second term ⢠Several development projects: ⢠El Domo (Silvercorp) permittedâ Aug 24, construction phase, production- late 26 ⢠Warintza (Solaris)- PFS due Q3 25, mining permits expected mid-26 ⢠Cascabel (Solgold)- mining permits- June 24, $750M streaming deal- July 24 Key Infrastructure & Permits ⢠Low Elevation, exploration all year-round ⢠Infrastructure rich and workforce ready ⢠Permits in place for drilling and clear pathway to achieve mining permits Highly Prospective and Underexplored ⢠Exposure to a meaningful scale copper- gold in Andean copper belt ⢠Recent M&A highlights corporate activity heating up in Ecuador: ⢠Silvercorp acquired Adventus (Apr 24) ⢠CMOC acquired Lumina Gold (May 25) ⢠Solaris secure $200M stream for Warintza Cu-Au Project (May 25) For personal use only
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7 ASX:TTM Build a +5Moz standalone gold mine & deliver non-dilutive porphyry copper discoveries Our Strategy 3 Horizons of Growth and Value Add Focus on initial open pit 10-12 year mine life and complete drilling and development studies to achieve FID for Dynasty by Q4 2026. Grow Dynasty resource by adding high value ounces in best part of the system (within or adjacent to optimized open pit ie. top 500m). Several compelling down-plunge opportunities identified as part of MRE internal review. Test the true scale of the Dynasty gold system by thinking big and testing conceptual targets! A 9km gold system has to come from a big heat source! Discovery through JV Partnerships Secure JV partners to fund porphyry copper discoveries across our portfolio of highly prospective projects in the Andean copper belt Transform the scale of Dynasty by drill-testing porphyry copper-gold targets GOLD COPPER 1 2 3 1 2 For personal use only
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TITAN MINERALS LTD 8ASX: TTM DYNASTY GOLD PROJECT (100%)For personal use only
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9 ASX:TTM Dynasty Gold Project 3.1Moz Au and growing, potential for a meaningful standalone development 100% Owned 3.1Moz Au Dynasty Gold Project ⢠Large high-grade epithermal gold and copper-gold porphyry system hosting 3.1Moz gold and 22Moz silver presents a meaningful standalone development opportunity with significant scope to grow ⢠Potential for large scale, long life open pit and underground operation Meaningful Existing Resource from Surface ⢠43Mt @ 2.23g/t Au, 15.7g/t Ag for 3.1Moz Au and 22Moz Ag resource from surface ⢠High grade resource 17.3Mt @ 3.77 g/t Au, 24.0 g/t Ag for 2.1Moz Au and 13.7Moz Ag ⢠39% Indicated Significant Resource Growth Potential ⢠+50% of the Resource in the top 100m, +80% of the Resource in the top 200m ⢠Lateral and depth extensions being drill tested in 2025 ⢠Resource conversion drilling underway to upgrade resources in initial open pit Multiple Untested Gold and Copper Targets ⢠Considerable exploration upside that remains to be tested targeting the 9km epithermal gold vein corridor and copper-gold porphyry mineralisation ⢠Four key prospects defined to date and multiple geochemical anomalies yet to be drill tested ⢠All permits in place and full flexibility to undertake drilling across the entire 9km mineralised corridor Classification Tonnes Grade (g/t) Contained Ounces (Million) (Million) Gold Silver Gold Silver Indicated 18.1 2.09 14.7 1.2 8.6 Inferred 25.4 2.33 16.4 1.9 13.4 Total 43.5 2.23 15.7 3.1 22.0 For personal use only
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10 ASX:TTM Dynasty: Cerro Verde and Iguana ⢠Potential for a large scale, long life open pit and underground operation ⢠Cerro Verde prospect: ⢠Hosts almost two thirds of Dynasty of Mineral Resources - 1.92Moz @ 2.08 g/t Au, and remains open at depth ⢠Contains 51% Indicated Resources ⢠Preliminary pit optimisation indicates 1.6km diameter pit down to ~350m depth, followed by underground optionality ⢠Wider, higher grade, more continuous mineralisation- the focus for resource drilling- growth and conversion ⢠Iguana prospect: ⢠Hosts 0.7Moz gold @ 2.02 g/t Au, which remains open at depth ⢠Large conceptual open pit ~1.km long and ~160m depth, , followed by underground optionality ⢠Mineralisation remains open at depth and to the south Robust resources set for conversion and growth A Aâ AâA Plan view of the Cerro Verde & Iguana resources & conceptual pit1 Long section A-Aâ displaying resources and conceptual pit Refer to ASX release dated 6 July 2023 for all input parameters used in the pit optimisation For personal use only
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11 ASX:TTM Dynasty: Resource Growth & Resource Upgrade at Cerro Verde ⢠Latest resource growth drill results have confirmed substantial resource growth, defining new wide, high-grade mineralisation at depth and up to 150m below current resources in an entirely untested area including: ⢠13.0m @ 4.5 g/t Au, 22.1 g/t Ag from 331m & ⢠17.5m @ 2.5g/t Au, 8.6g/t Ag from 274m, including 5.0m @ 5.5g/t Au, 10.7 g/t Ag ⢠New high-grade mineralisation (and resource additions) in latest drilling, with a significant intercept of 2.9m @ 21.9 g/t Au, 10.4 g/t Ag from 17m, confirming a 80m lateral extension to shallow resources which remains open along strike ⢠Resource conversion drilling program now underway, targeting resource upgrades at Cerro Verde within conceptual pit ie. potential Ore Reserve ⢠MT geophysical survey planned for June and exciting deep drilling planned, testing system down to 1km depth ⢠Dynasty MRE Update targeted for Q3 2025 Resource conversion drilling underway Long section showing latest significant drill intercepts below the resource CVDD24-122: ⪠2.9m @ 21.9g/t Au ⪠11.7m @ 3.9 g/t Au ⪠13.0m @ 4.5 g/t Au ⪠5.5m @ 2.3 g/t Au ⪠5.0m @ 5.5 g/t Au ⪠2.0m @ 6.1 g/t Au For personal use only
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12 ASX:TTM Dynasty: Metallurgy Significantly Derisked ⢠Highly encouraging preliminary metallurgical test work results confirm the suitability of conventional process techniques to achieve high recoveries across all ore types: ⢠Oxide testwork achieved overall recoveries of 85- 88% gold at 106¾m grind using a conventional cyanide in leach circuit (CIL) ⢠Sulphide testwork achieved overall recoveries of 91% gold at 75¾m grind using a conventional flotation circuit, with the option to direct sell a clean concentrate or further oxidisation process on site to produce dore bars ⢠Significant de-risking milestone achieved and Titan has identified several opportunities to improve recoveries with further metallurgical testwork optimisation Strong recoveries via conventional processes Mineralised core samples from the Dynasty Gold Project For personal use only
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13 ASX:TTM Dynasty: the Copper Upside ⢠Large-scale soil anomalies have revealed several porphyry copper targets yet to be drill tested ⢠Mapping has confirmed porphyry style veining with copper oxide mineralisation at surface ⢠Cola target exhibits secondary chalcocite enrichment with abundant disseminated pyrite ⢠Trenching and mapping is continuing across new target areas, with these results to inform exploration drilling to test new exciting copper-gold porphyry targets, set to commence in 2HCY 2025 New copper porphyry targets unveiledFor personal use only
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TITAN MINERALS LTD 14ASX: TTM COPPER PROJECTSFor personal use only
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15 ASX:TTM Linderos Copper Project ⢠Hancock secured as a strategic partner to explore and develop Linderos - Hancock subsidiary (Hanrine) to spend up to US$120m (A$180m) or at the Decision to Mine to earn up to an 80% interest in Linderos ⢠Titan free-carried until 80% earn-in achieved. If Titan elects not to contribute after 80% earn-in and if diluted < 10%, Titan project ownership will revert to a 2.7% NSR ⢠Hanrine to manage and fund all exploration and development activities ⢠10,000m drilling campaign underway - latest significant results include: 735m @ 0.23% CuEq from 385m, including 131m @ 0.29% CuEq from 385m & including 51m @ 0.37% CuEq from 623m ⢠Linderos project is located 20km from Dynasty Commitment1 % Earned % Earned (cumulative) Earn-in Period (years) Status Activities Expenditure USD 1 - $2M 5% 5% 0 COMPLETE 2 10,000m drilling $8M 25% 30% 3 UNDERWAY 3 15,000m drilling $12M 21% 51% 7 PENDING 4 Decision to Mine $120M 29% 80% 15 PENDING Note 1: Each earn-in milestone is earnt when the first of either project activities or minimum expenditure is achieved. Mineralisation remains open at depth and to the west and the east of current drill limits Cross SectionHancock Prospecting to spend up to US$120M to earn 80% For personal use only
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16 ASX:TTM Linderos Copper Project ⢠Latest drill results confirm Linderos hosts substantial porphyry copper mineralisation ⢠Drilling to date has defined mineralisation over 1km of strike and down to 1km depth, and remains open in all directions ⢠Further drilling underway to test northwest and southeast lateral extents ⢠Hanrine on track to complete JV Earn-in Milestone 2 in late Q2 2025, less than 12 months after executing the JVA Mineralisation remains open at depth and to the northwest and the southeast of current drill limits 1km drill defined porphyry mineralisation and 2km geophysical porphyry footprint Plan View Long Section Hancock Prospecting to spend up to US$120M to earn 80% For personal use only
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17 ASX:TTM Copper Duke Project (100%) ⢠7km porphyry alteration footprint highlighted by multiple datasets ⢠Same magma type as global Tier 1 porphyry systems and mineralisation the same age as mega-porphyry copper deposits of Peru ⢠Multiple outcropping targets â porphyry copper, breccia copper, skarn, intrusion related gold, and epithermal gold ⢠Best technical experts guiding exploration strategy ⢠High priority targets defined with drilling to commence in Q3 20m @ 0.2% Cu, 0.9g/t Au, incl 4m @ 2.4g/t Au 28m @ 0.4% Cu, 0.3g/t Au, incl 14m @ 0.6% Cu, 0.45g/t Au Potential tier 1 porphyry copper discovery set to be unveiled 20m @ 0.1% Cu, 0.7g/t Au, incl 10m @ 0.13% Cu, 1.2g/t Au For personal use only
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TITAN MINERALS LTD 18ASX: TTM Forward Value DriversFor personal use only
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19 ASX:TTM 2025 Activity & Milestones A transformational year of resource growth, de-risking and discovery Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Dynasty Gold Project Resource Growth & Conversion Drilling Geophysical (Mobile MT Survey) Exploration Deep Drilling at Cerro Verde & porphyry targets (~5,000m) Mineral Resource Update Scoping Study Copper Projects Linderos Project (Hancock JVA) Phase 1 Drilling (10,000m) to earn 25% (total 30%) Phase 2 Drilling (15,000m) to earn 21% (total 51%) Copper Projects (100% owned): Geophysical (Aeromagnetic Survey) Reconnaissance mapping and soil sampling Exploration Drilling Complete Incomplete 10,000m complete 10,000m planned For personal use only
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20 ASX:TTM The Value Proposition Poised for growth with strong funding in place, exciting drilling underway and a gold price at all time highs Board & Management with a Proven Capability Large Scale Copper Potential across Multiple Projects Active Programs & Strong Newsflow First Mover Advantage in Underexplored Andean Copper Belt 100% Owned 3.1Moz Au Dynasty Gold Project For personal use only
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info@titanminerals.com.au +61 8 6555 2950 @titanminerals For personal use only