Titan Minerals Highlights 3.9 Million Ounce Gold Resource at Dynasty Gold Project in Ecuador

Overview of Dynasty Project Size and Mineralogy in Ecuador

Titan Minerals positions the Dynasty Gold Project as a key exploration asset within Ecuador’s growing gold mining sector. The March 2026 mineral resource estimate confirms the project as one of Ecuador’s upcoming major gold camps, boasting 3.9 million ounces of gold and 26.1 million ounces of silver. The mineralisation comprises both epithermal and porphyry-hosted gold deposits, reflecting geological diversity and potentially varied mining methods. The project spans multiple deposits including Cerro Verde, Iguana, Papayal, and Trapichillo, indicating a broad mineralised footprint. This structural variety may provide operational flexibility and opportunities for phased development as Titan advances toward feasibility studies or production decisions.

Resource estimates report epithermal deposits above 0.5 grams per tonne gold within constrained open-pit optimisation scenarios, while deeper fresh rock below the open-pit shell is reported at grades exceeding 1.5 grams per tonne gold. The Kaliman porphyry-hosted resources are reported above 0.3 grams per tonne gold under similar open-pit constraints. These tiered thresholds follow JORC Code standards, helping investors understand mineral inventory by mining depth and method. The presence of high-grade deeper material suggests potential for underground mining in future development stages, which could enhance project economics if pursued.

Resource Estimate Updates and Deposit Tracking

In July 2023, Titan released a mineral resource estimate covering four main deposits: Cerro Verde, Iguana, Papayal, and Trapichillo, all reported above 0.5 grams per tonne gold. The March 2026 update, part of the recent investor presentation, specifically revises the Cerro Verde deposit, while the other three deposits remain unchanged. This focused update indicates that exploration and resource definition efforts concentrated on Cerro Verde during this period, likely integrating new drilling data or geological interpretations. The unchanged status of Iguana, Papayal, and Trapichillo suggests ongoing drilling or a shift in exploration focus within the Dynasty area.

The progression from 2023 to 2026 reflects a typical multi-year timeline for South American exploration projects. The prioritisation of Cerro Verde as the most advanced deposit highlights its strategic importance. Investors can expect further resource updates as drilling continues, particularly at Iguana, Papayal, and Trapichillo, supporting Titan’s claim of significant remaining upside. The timing and sequencing of updates provide insights into management’s capital allocation and exploration priorities, influencing investor confidence in project momentum.

Epithermal and Porphyry Mineralisation Characteristics at Dynasty

The Dynasty project features two distinct mineralisation styles with differing ore grades and mining implications. Epithermal gold-silver deposits are reported at grades above 0.5 grams per tonne gold within open-pit optimisation parameters, assuming gold prices of US$4,200 per ounce and silver at US$75 per ounce. The substantial silver resource of 26.1 million ounces enhances project economics through byproduct credits, which is notable among South American gold projects. Deeper fresh epithermal material exceeding 1.5 grams per tonne gold indicates potential for underground mining in future phases.

Porphyry-hosted mineralisation at the Kaliman deposit is reported above 0.3 grams per tonne gold within constrained open-pit optimisation. Porphyry deposits typically offer large tonnage but lower-grade ore bodies suited for large-scale open-pit mining, contrasting with smaller, higher-grade epithermal systems. Having both mineralisation types within the project area provides geological diversity and the possibility of integrating multiple mining methods. Resource assumptions include processing recovery rates of 65% for gold and silver and 85% for copper if present, aligning with industry benchmarks for similar South American deposits.

Commodity Price Assumptions in Resource Valuation

Titan’s resource estimate follows JORC Code requirements, applying commodity prices of US$4,200 per ounce for gold, US$75 per ounce for silver, US$4.50 per pound for copper, and US$15 per pound for molybdenum in constrained optimisation scenarios defining the Dynasty resource. These prices, current as of March 2026, directly influence which mineralisation qualifies as economic mineral resources by meeting minimum grade thresholds. Future price fluctuations could impact resource classifications in subsequent updates, a common risk for commodity-dependent projects.

Silver’s valuation is particularly significant due to the 26.1 million ounce silver resource accompanying the 3.9 million ounce gold estimate. At US$75 per ounce, silver materially enhances the project’s economic profile, especially in epithermal deposits where silver grades are elevated relative to global standards. Recovery assumptions of 65% for gold and silver reflect typical metallurgical performance for the deposit types, based on Titan’s reference to similar projects. These assumptions will require validation through metallurgical testing and pilot studies as the project advances toward feasibility, a standard procedure in Ecuador and the South American gold sector.

Geographic and Operational Setting for Ecuador Gold Exploration

Located in Ecuador, the Dynasty project benefits from established precious metals mining infrastructure and a regulatory framework conducive to gold project development. Titan’s positioning of Dynasty as "Ecuador’s next major gold camp" underscores management’s confidence in its scale and geological potential to join the country’s significant gold producers and advanced exploration projects. Ecuador’s mining sector has grown recently with major international gold companies operating projects, creating a competitive and mature environment for exploration and development. The project’s epithermal and porphyry geology aligns with well-understood Andean deposit models, potentially reducing technical risks compared to less-explored regions.

Ecuador’s regulatory and infrastructure environment influences development timelines and capital needs. The country offers access to skilled mining labor, suppliers, and service providers essential for advancing exploration and development. While social and environmental permitting requires engagement and compliance, established precedents reduce uncertainty. The company has not disclosed current permitting or licensing status for Dynasty, which will be detailed in future quarterly or annual reports. Investors will monitor Ecuador’s mineral tenure stability, taxation, and regulatory changes that could impact project economics or operations.

Upside Potential and Future Resource Expansion Opportunities

Titan describes Dynasty as "rapidly growing" with "significant upside remaining," indicating that current resource estimates represent only part of the project’s potential. This aligns with typical exploration-stage messaging and implies ongoing or planned drilling to extend mineralisation, discover new deposits, or upgrade resource categories from inferred to indicated and measured. The unchanged resource status of Iguana, Papayal, and Trapichillo since 2023 suggests exploration focus opportunities at these deposits, where systematic drilling could yield updates. The Cerro Verde update between 2023 and 2026 highlights its prioritisation, and similar efforts at other deposits could drive further expansion.

Resource growth potential at Dynasty is typical for early to intermediate exploration assets in favorable geological settings. Multiple named deposits indicate district-scale mineralisation, often correlating with further expansion. Investors will likely track drilling meters, assay results, and exploration expenditures in quarterly reports to assess progress. The company’s assertion of significant upside suggests ongoing capital investment in exploration and resource definition, reflected in exploration expenses and cash flow disclosures. The timing of the next resource update and whether it includes multiple deposits will signal project momentum and management confidence.

Investor Presentation and Disclosure Framework

The Dynasty Gold Project update was released via a formal investor presentation authorised by Titan Minerals’ board in July 2026. The presentation includes disclaimers clarifying it is for informational purposes only and does not constitute financial product advice, a securities offer, or prospectus under Australian law. Investors are advised to treat the information as factual summary data rather than investment recommendations. The presentation acknowledges investment in Titan as "speculative in nature," consistent with disclosures for exploration and development stage mineral companies. Investors are urged to seek independent legal, tax, and financial advice before making decisions, adhering to standard ASX-listed resource company practices.

The resource estimate follows the JORC Code, the Australian standard for public reporting of exploration results, mineral resources, and reserves. Titan’s notes detail grade cutoffs, commodity price assumptions, and recovery rates, ensuring transparency of methodology. Forward-looking statements about future growth and development potential are clearly flagged with cautionary notes that actual outcomes may differ materially. This framing complies with Australian securities law requirements for mineral project disclosures.

Multi-Deposit Structure and Development Flexibility at Dynasty

The Dynasty project’s four named deposits—Cerro Verde, Iguana, Papayal, and Trapichillo—offer operational flexibility for staged development or phased production. Each deposit represents a distinct mineralised zone with differing geological characteristics, implying varied development timelines and requirements. Separate resource tracking allows management and investors to monitor deposit-specific progress. This multi-deposit setup contrasts with single-deposit projects, providing strategic options to prioritise faster-advancing deposits while retaining optionality on others. Such flexibility may appeal to investors concerned with execution timelines and capital efficiency.

The combined 3.9 million ounce gold resource across multiple deposits represents a portfolio rather than a single mine plan. This necessitates integrated exploration and development strategies to optimise value, including decisions on which deposits to advance first, sequencing, and whether production will involve multiple mines or a central processing facility. The company has not disclosed current development staging or mine planning, which will be addressed in future technical and economic studies. Investors will anticipate preliminary economic assessments or scoping studies that outline preferred development pathways and capital scenarios.

Market Environment for South American Gold Projects and Investor Outlook

Titan’s Dynasty project enters the market amid sustained global gold demand and strong investor interest in South American mineral exploration. The Andean region, including Ecuador, Peru, and Chile, hosts some of the world’s largest precious metals operations, offering established supply chains, skilled labor, and regulatory precedents for large-scale gold mining. Emerging projects like Dynasty attract attention as potential producers or acquisition targets for mid-tier and major gold companies seeking resource replacement. Positioning Dynasty as an emerging camp-scale discovery aligns with projects that historically attract capital from producers expanding in South America. The public resource announcement may indicate Titan’s readiness to engage strategic partners or investors, a common step for advancing exploration-stage projects.

Gold sector dynamics—including interest rates, currency fluctuations, geopolitical factors, and central bank demand—create variable conditions for exploration and development companies. Dynasty, as an Ecuador-based asset with stated growth potential, faces these sector-wide influences alongside company-specific exploration and technical risks. The July 2026 timing of the investor presentation reflects a market context that may have influenced Titan’s decision to formalise and publicise the resource estimate. Investors assessing Titan will compare Dynasty to peer projects at similar stages while monitoring the company’s financial strength and capital availability to support ongoing exploration and development.