Titan Mining Announces Option On The Mineral Ridge Gold Project

VANCOUVER - Titan Mining Corporation reported the signing of an Option Agreement on the Mineral Ridge Property located in Esmerelda County, Nevada (Mineral Ridge Property) from Scorpio Gold Corporation through its US affiliates.

Mineral Ridge Highlights: Current open pit Mineral Resource of 350,000 oz gold at an average grade of 1.16 g/tp; Fully permitted for production and drill-ready; Widespread mineralization, only sporadic exploration completed to date; & Historical drill results, never followed up, on including: 1.17 oz gold per ton over 25 ft or 40.1 g/t gold over 7.6m; 0.55 oz gold per ton over 30 ft or 18.9 g/t gold over 9.1m; 0.31 oz gold per ton over 40 ft or 10.6 g/t gold over 12.2m; 0.34 oz gold per ton over 30 ft or 11.7 g/t gold over 9.1m: & 0.28 oz gold per ton over 40 ft or 9.6 g/t gold over 12.2m.

Chairman, Richard Warke, said, “After an extensive review, we are delighted to have found another US-based asset with tremendous upside potential, much like our Empire State Mine. What we see in Mineral Ridge is a property with widespread, high grade mineralization that has never seen a comprehensive exploration program given a lack of adequate funding and historical focus on small scale mining.  Mineral Ridge fits all of the criteria we have as a mining company for assets: the property is in a great jurisdiction, is fully permitted for production and drilling, and has known resources of 350,000 ounces of gold, and tremendous exploration potential.  We believe a portfolio of projects that fits this strategy is the best way to grow and translate into building substantial value for our shareholders.”

The Mineral Ridge Property is a fully permitted mine and mill operation comprised of approximately 14,000 acres of patented, fee-owned, and unpatented mining claims which include certain water rights. Historically, the property has produced approximately 1 million ounces of gold from underground and open pit mining operations.  The recent history of the project under Scorpio Gold focused on identifying Resources and Reserves to support potential for small-scale mining.