Here are a few analogies for Titan Mining:

• It's like a Barrick Gold, but focused on industrial metals such as zinc and graphite, along with some copper and gold.
• Imagine ExxonMobil, but focused on digging up industrial minerals like zinc, graphite, and copper/gold, rather than drilling for oil and gas.

• Zinc: A base metal extracted for various industrial applications, including galvanizing and alloys.
• Graphite: A form of carbon mined for its use in batteries, lubricants, and high-temperature applications.
• Copper: An industrial metal produced from its deposits, primarily used in electrical and construction applications.
• Gold: A precious metal extracted for its use in jewelry, investment, and electronics.

Titan Mining Corporation (TII) primarily sells its zinc concentrate to other industrial companies, specifically zinc smelters or commodity trading firms that supply smelters.

Based on available information and historical agreements, a major customer of Titan Mining is:

• Glencore plc (LSE: GLEN, OTCQX: GLCNF)

Glencore is a diversified natural resource company and a major producer and marketer of zinc. Mining companies like Titan Mining often have off-take agreements with large commodity traders or directly with smelters for their concentrate products.

Rita Adiani, President & CEO

Rita Adiani has over 18 years of experience in the mining industry and has held senior executive positions in listed companies and private investment vehicles. She has also worked as an investment banker, private equity professional, and lawyer. Ms. Adiani has extensive experience in global capital markets and public and private M&A transactions, having been involved in raising over US$10 billion in public equities.

Kevin Hart, Chief Financial Officer

Kevin Hart is an executive with over two decades of experience in mineral exploration, development, construction, and operations, focusing on base and precious metals. A Chartered Professional Accountant, he has held senior leadership roles in finance, administration, and governance for publicly traded companies in Canada and the United States. He previously served as CFO and Corporate Secretary for Inca One Gold Corp. and as Corporate Controller at Asanko Gold Inc. Mr. Hart also worked with companies under the Hunter Dickinson group, including Farallon Mining, which was sold to Nyrstar in 2011.

Richard Warke, Executive Chairman

Richard Warke possesses over 40 years of experience in the international resource sector. In 2005, he founded the Augusta Group of Companies, which is recognized for its track record of value creation in mining. The Augusta Group founded, managed, and funded three world-class mineral discoveries: Ventana Gold (sold for $1.3B in 2011), Augusta Resource (sold for $667M in 2014), and Arizona Mining (sold for $2.1B in 2018). He also co-founded Equinox Gold in 2017.

Purni Parikh, Senior Vice President, Corporate Affairs & Corporate Secretary

Purni Parikh has more than 25 years of public company experience in the mining sector, including corporate affairs and finance, legal and regulatory administration, and governance. She is President of the Augusta Group of Companies and Senior Vice President, Corporate Affairs for member companies including Titan Mining Corporation. Ms. Parikh is credited with overseeing over $4.5 billion in M&A transactions for the Augusta Group, including multiple world-class asset sales.

Joel Rheault, Vice President, Operations

Joel Rheault joined Titan Mining Corp in 2018 as General Manager of the Empire State Mine and was appointed Vice President of Operations in March 2024. He has over 30 years of experience building and operating mines in North America, South America, and Europe, and has been involved in several start-up projects.

The key risks to Titan Mining's business include:

1. Commodity Price Fluctuations: Titan Mining is significantly exposed to the volatility in the prices of zinc and graphite. Fluctuations in the London Metal Exchange (LME) zinc price can directly affect profitability, and the company has previously suspended dividends due to downturns in zinc prices. The profitability of its emerging graphite business also heavily relies on successful customer product qualification and securing long-term offtake agreements, as graphite is not an exchange-traded commodity.

2. Development and Ramping Up Risks for Graphite Production: As an emerging natural flake graphite producer, Titan Mining faces inherent uncertainties in realizing projected mineral resource estimates, meeting cost and production guidance, and successfully establishing commercial graphite production. The company's goal to become the first end-to-end producer of natural flake graphite in the USA in 70 years underscores the significant development and market penetration challenges it must overcome.

3. Operational Challenges and Cost Management: The company has faced challenges during the ramp-up of its Empire State Mine, including falling behind on mine rehabilitation and development, requiring a focus on restructuring and optimization. There is an ongoing risk of cost increases for capital and operating expenses, as well as potential shortages of equipment or supplies, which can impact the efficiency and profitability of its mining operations.

The addressable markets for Titan Mining's main products are as follows:

• Zinc: The global zinc market size was valued at approximately USD 27.2 billion in 2024 and is projected to grow to USD 52.14 billion by 2033. Another estimate for the global zinc mining market indicated a revenue of USD 66.085.3 million in 2022, expected to reach USD 91,334.1 million by 2030.
• Graphite: The global graphite market size was estimated at USD 31.59 billion in 2025 and is predicted to increase to approximately USD 65.60 billion by 2034. Another source estimated the global graphite market size at USD 13.29 billion in 2025, projected to reach USD 23.87 billion by 2033.
• Copper: The global copper market was valued at USD 291.12 billion in 2025 and is anticipated to reach USD 442.04 billion by 2034. Another report estimated the global copper market size at USD 241.88 billion in 2024, projected to reach USD 339.95 billion by 2030.
• Gold: The global gold market was valued at USD 291.68 billion in 2024 and is projected to reach USD 400 billion by the end of 2030. In terms of volume, the global gold market is expected to grow from 4,890.0 tons in 2025 to 7,424.4 tons by 2034.

Here are 3-5 expected drivers of future revenue growth for Titan Mining (TII) over the next 2-3 years:

1. Advancement and Commercialization of the Kilbourne Graphite Project: Titan Mining has begun initial graphite shipments from its demonstration facility in New York State and is proceeding with a feasibility study for a larger 40,000-tonne-per-annum integrated graphite operation. The company aims for a construction decision in late 2026 or early 2027, with construction anticipated to commence in 2027. This project represents a significant new revenue stream as the company transitions from demonstration to full-scale production of natural flake graphite.
2. Sustained and Optimized Zinc Production: Titan Mining achieved record zinc production in 2025, with 64.26 million payable pounds, an 8% increase year-over-year. The company has provided 2026 guidance for zinc production between 62-66 million payable pounds, indicating a commitment to maintaining high production levels. Continued operational efficiency and stable production from its Empire State Mine are expected to contribute consistent revenue.
3. Strategic Positioning and Favorable Market for U.S. Graphite: Titan Mining is actively positioning itself as a key domestic producer of natural flake graphite, a critical mineral for the U.S. supply chain. The company recently welcomed the imposition of at least 160% duties on Chinese graphite imports, which is expected to create a more favorable pricing and demand environment for domestic producers like Titan. This strategic market advantage, coupled with federal support, including a letter of interest for up to US$120 million from the Export-Import Bank of the United States (EXIM) for its graphite project, is anticipated to enhance revenue.
4. Resource Expansion through Ongoing Exploration: The company continues significant exploration efforts at its Kilbourne graphite project, with approximately 82% of infill drilling and 51% of exploration drilling completed. Successful conversion of these resources into reserves and the potential discovery of additional high-grade mineralization for both zinc and graphite at the Empire State Mine could lead to expanded production capacity and extended mine life, thereby driving future revenue growth.

Share Issuance

• In January 2026, Titan Mining filed a base shelf prospectus and established an "at-the-market" (ATM) equity program, enabling it to potentially raise up to US$150 million over 25 months and sell up to US$50 million in common shares, respectively.
• In December 2025, the company completed a US$15 million institutional equity financing to further its U.S. graphite strategy.
• The number of shares outstanding for Titan Mining increased by 10.09% in the last year and by 13.59% quarter-over-quarter.

Inbound Investments

• In July 2025, Titan Mining's subsidiary, Empire State Mines, LLC, secured a US$15.8 million credit agreement with the Export-Import Bank of the United States (EXIM) to fund critical capital development and expansion at its underground zinc mine.
• The Kilbourne Graphite Project received US$5.5 million in funding from EXIM and a Letter of Interest for project financing up to US$120 million.
• A US$15 million investment was received in December 2025 from a leading institutional investor, specifically aimed at accelerating U.S. graphite development.

Capital Expenditures

• Initial construction capital for the Kilbourne Graphite Project is estimated at US$156 million, intended to leverage existing Empire State Mine infrastructure.
• Titan Mining increased its exploration budget in 2023, focusing on new discoveries across its 80,000 acres of mineral rights.
• In the second quarter of 2021, the company purchased an additional two boom jumbo and a loader to support increased tonnage from the N2D zone.