Titan Mining Corporation

Climate Impact & Sustainability Data (2021)

Non-acid generating tailings; reclamation plans in place for ESM’s #4 mine and Balmat No. 2 shaft area; surface water discharge in compliance with SPDES permit; mine tailings reclamation is guaranteed with a $1,662,870 certificate of deposit.

Employs 124 people at ESM’s #4 mine; endeavors to provide and maintain safe and healthy working conditions; maintains good relations with employees.

Audit Committee in place; Code of Conduct adopted to address anti-corruption and anti-bribery laws; ESTMA reporting commenced in 2017.

Short-term Goals:

Ramp up to 1,800 t/d in 2022 for combined open pit and underground mines; completion of revised mine plan incorporating higher-grade New Fold zone and near-mine open pits expected in mid-2022.

Limited operating history; dependence on ESM’s #4 mine; limited supplies and supply chain disruptions due to factors including COVID-19 and the Russia-Ukraine conflict; potential need for additional capital; financial leverage and restrictive covenants; ramping up mining operations; inaccurate production projections and cost estimates; inherent risks in mining; uncertainty related to inferred mineral resources; title disputes; fluctuations in zinc demand and prices; difficulty attracting and retaining qualified management and employees; significant governmental regulations; adverse global economic conditions; environmental laws and regulations; threat of legal proceedings; obtaining and renewing permits; social and environmental activism; burdensome land reclamation requirements; tailings management facility and environmental reclamation; insurance limitations; health and safety risks; dependence on information technology systems; risks inherent in fixed zinc pricing arrangements; conflicts of interest; risks inherent in acquisitions; labor and employment relations; anti-corruption and bribery regulations; infrastructure limitations; enforceability of judgments; global outbreaks and coronavirus.

Restructured operations with focus on underground development and exploration; entered into fixed zinc pricing arrangements; examining various financing options; implementing grade control; exploring optical sorting technology; addressing legal proceedings; maintaining insurance; complying with environmental regulations; reclamation plans in place; Code of Conduct adopted; ESTMA reporting.

Frameworks Used: NI 43-101