Titan Mining Announces Major Expansion of Historic Mineralized Zone Close to the Shaft at Empire State Mine and Provides Operational Update

About this update from Titan Mining Corp.

[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI) (“Titan” or the “Company”) today provided an update on the operations and exploration program at its Empire State Mine (“ESM”). All financial amounts are in U.S. dollars, unless otherwise stated. Highlights Titan’s executive leadership team was strengthened with the appointment of Donald Taylor as Chief Executive Officer, Purni Parikh as President and Kevin Torpy as VP, Operations. The Board of Directors was enhanced with the addition of John Boehner, James Gowans and William Mulrow, bringing further mining and financial expertise to the Board. Drilling has resulted in a major high-grade expansion of the near-mine #2D zone, formerly referred to as #2 Deep, by over 700 feet down-plunge. The zone remains open at depth and laterally toward the #4 shaft. Development of this zone will be a focus in the short term. A definition drilling program is planned for the fourth quarter of 2018, and preliminary engineering design is underway. An updated mine plan for ESM, incorporating the #2D zone, is expected in the first half of 2019. Production at ESM was impacted in the third quarter of 2018 mainly by low productivity from the mining contractor, however, payable zinc shipments increased by 6% from the prior quarter. The transition from contractor to owner-mining has been completed and 190 of 200 staff positions at ESM have been filled to date. Titan has received a commitment for the financing of its operations into 2019. Donald Taylor, Chief Executive Officer of Titan, commented: “We faced some set-backs in the ramp up at ESM. Production rates in the third quarter were impacted by a hoist incident and overall underperformance by our mining contractor. New mine management is in place and immediate changes have been implemented to address this short-term issue. The transition from contractor to owner-mining was accelerated and completed before the end of October. I believe the quick decisions today will set us up for a successful 2019 and beyond as we target near-mine growth opportunities to maximize production, given our available spare capacity.” “The #2D zone, an extension of the large #2 mine which accounted for about half of the tons mined historically at ESM, is growing rapidly,” continued Mr. Taylor. “This zone has the potential to add s...

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