Titan Mining (TSX: TI) Delivers Strong Q2 Results
Titan Mining Delivers Strong Q2 Results; On Track to Commission First Integrated U.S. Graphite Facility in 2025
August 12, 2025
Gouverneur, New York and Vancouver, BC – August 12, 2025 – Titan Mining Corporation (TSX: TI; OTCQB: TIMCF) (“Titan” or the “Company”) today announced its financial and operating results for the quarter ended June 30, 2025. The Company met quarterly production guidance at its Empire State Mines LLC (“ESM”) and is on track to be the first end-to-end producer of natural flake graphite in the United States by Q4 2025.
Q2 2025 Highlights:
- Payable zinc production of 15.5 million pounds, up 7% from Q2 2024
- Revenues of $16.3 million, C1 cash costs and AISC of $0.90/lb
- Cash flow from operations of $2.4 million
- Reduction in net debt by 21% from Q2 2024
- Cash balance of $8.1 million at quarter end
- EXIM Bank financing secured for $15.8 million, the first direct mining loan under its Make More in America Initiative (2)
- Strong safety performance, with an injury frequency rate well below the U.S. national average
- Over 40,000 acres of mineral rights added in May 2025, expanding Titan’s total to more than 120,000 acres in upstate New York
- Graphite processing facility construction underway at ESM site; over 50% of major equipment delivered
- Commissioning expected Q4 2025, making Titan the first integrated producer of natural flake graphite in the U.S. in over 70 years.
(1) All figures in USD unless otherwise noted. (2) The EXIM Bank financing was completed July 21, 2025, subsequent to quarter end.
Don Taylor, CEO, commented: “Our Q2 performance reflects consistent execution at ESM, with strong production, start-up of the N2D zone and continued cost control. Importantly, our graphite project has moved from concept to construction, supported by public and private sector backing. Titan is building the foundation to become a multi-commodity, integrated supplier of critical minerals to the U.S. economy.”
Rita Adiani, President, added: “Titan is executing a unique dual-commodity strategy. Our zinc operations continue to generate cash flow, while the Kilbourne graphite facility rapidly progresses toward commissioning. With strong government support and tangible progress on-site, we’re positioning Titan as a future-facing, U.S.-based supplier of both industrial and critical minerals.”
Table 1: Financial and Operating Highlights
| Operating / Financial Metric | Unit | Q2 2025 | Q1 2025 | YTD 2025 |
|---|---|---|---|---|
| Payable zinc produced | mlbs | 15.51 | 15.37 | 30.88 |
| Payable zinc sold | mlbs | 16.04 | 15.57 | 31.61 |
| Average realized zinc price | $/lb | 1.20 | 1.29 | 1.24 |
| C1 Cost(1) | $/lb | 0.90 | 0.91 | 0.91 |
| AISC(1) | $/lb | 0.90 | 0.96 | 0.93 |
| Revenue | $m | 16.34 | 16.02 | 32.36 |
| Net income after tax | $m | 0.54 | 0.35 | 0.89 |
| Cash flow from operations | $m | 2.36 | 2.69 | 5.05 |
| Cash & equivalents | $m | 8.1 | 12.2 | 8.1 |
| Net debt(1) | $m | 24.2 | 23.1 | 24.2 |
Scroll right to view more. Note: Sums may not equal totals due to rounding. (1) Non-GAAP measures.
Zinc Operations Review
Mining continued in the Mahler, New Fold, and Mud Pond zones at the #4 mine, with new production from the N2D zone. High-grade ore from Lower Mahler supported above-budget output. N2D production is ramping from 250 to 500 tons per day in Q3.
Graphite Update
Construction of the Kilbourne graphite demonstration plant is advancing, with more than half of major equipment delivered and installation underway. Commissioning remains on track for Q4 2025, making it the first U.S. end-to-end natural flake graphite producer in over 70 years.
Exploration Update
Titan added 43,942 acres of mineral rights in May 2025 under lease and option agreements with St. Lawrence County, expanding total tenure to over 120,000 acres. Multiple areas of historic graphite and base-metal mineralization have been identified. Surface and underground drilling programs continue to demonstrate mine-life expansion potential.
Non-GAAP Performance Measures
C1 Cash Cost per Payable Pound Sold represents the cash cost incurred from mining through to recoverable metal delivered to customers. All-in Sustaining Cost (AISC) adds sustaining capital expenditures to the C1 cash cost, divided by payable zinc sold.
| Q2 2025 | Q2 2024 | |
|---|---|---|
| Pounds of payable zinc sold (millions) | 16.0 | 14.7 |
| Operating expenses and selling costs | $12,750 / $0.80/lb | $9,652 / $0.66/lb |
| Concentrate smelting and refining costs | $1,671 / $0.10/lb | $1,913 / $0.13/lb |
| Total C1 cash cost | $14,421 / $0.90/lb | $11,565 / $0.79/lb |
| Sustaining capital expenditures | $27 / $0.00/lb | – / $0.00/lb |
| AISC | $14,448 / $0.90/lb | $11,565 / $0.79/lb |
Net Debt
| Q2 2025 ($000s) | Q2 2024 ($000s) | |
|---|---|---|
| Current portion of debt | 29,135 | 36,177 |
| Non-current portion of debt | 3,254 | – |
| Total debt | 32,389 | 36,177 |
| Less: Cash and cash equivalents | (8,142) | (5,547) |
| Net debt | 24,247 | 30,630 |
About Titan Mining Corporation
Titan is an Augusta Group company producing zinc concentrate at its 100%-owned Empire State Mine in New York. Titan is advancing toward commissioning the first integrated natural flake graphite facility in the U.S. in over 70 years. Learn more at www.titanminingcorp.com.
Contact:
Investor Relations – info@titanminingcorp.com
Cautionary Note Regarding Forward-Looking Information
Certain statements in this news release constitute “forward-looking statements” within the meaning of applicable securities laws. These include statements regarding commissioning timelines, production targets, and future development plans. Such statements involve known and unknown risks and uncertainties that may cause actual results to differ materially. Please refer to Titan’s filings with Canadian securities regulators for a full discussion of risk factors. Titan disclaims any obligation
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is meant for informational and educational purposes only and does not provide investment advice.
