Core Gold Inc. (fka CGLDF)

[NYBob]

Titan Minerals Signs Term Sheet for the
Sale of Zaruma Mine & Portovelo Process Plant
for US$15.0 million
Highlights
• Titan Minerals has entered into a term sheet with Pelorus Minerals for the sale of its non-core
Zaruma Mine and Portovelo Process Plant assets
• Consideration is US$15 million in staged cash payments plus a 2% net smelter return royalty
on future copper production from the Zaruma Mine concessions
• The sale of the Zaruma Mine and Portovelo Process Plant will strengthen the Company’s cash
position and balance sheet
Titan Minerals Limited (ASX: TTM) (“Titan” or the “Company”) is pleased to announce it has entered into a term
sheet (“Term Sheet”) with Pelorus Minerals Limited (“Pelorus” or the “Buyer”) for divestment of its non-core
Zaruma Mine and Portovelo Process Plant assets in Ecuador.

https://www.titanminerals.com.au/