MINERAL RIDGE

1.5 Geology and Mineralization

Based on current published explanations for the Mineral Ridge mineralization, it appears that a structurally-controlled orogenic model may be the most applicable to the deposits.

The Mineral Ridge gold deposits are located on the northeast flank of the Silver Peak Mountain Range. The major lithological units include the Wyman Formation, Reed Dolomite, and the Deep Springs Formation. The Wyman Formation is underlain and intruded by an Eocene granodiorite and related alaskite, aplite, and pegmatite intrusive rocks. The contact is highly irregular in detail, due in part to structural contortions within the Wyman Formation.

Four main structural corridors have been defined, trending north–northwest, northwest, north– northeast, and northeast. The structural setting is marked by high shearing and flattening strain zones. The strain regime also resulted in extreme grainsize reduction of pegmatites, local development of mylonites, and abundant, locally chaotic, transposition in calcareous rocks. In addition, intense foliation developed in all rock types.

The currently-known mineralized zones occur over an area of approximately 14,000 ft (4,300 m) north–south and 15,000 ft (4,600 m) east–west. Gold deposits in the Project area are hosted within a structural envelope in the lower unit of the Wyman Formation near its contact with the crystalline core rocks. Quartz and felsic intrusive rock boundaries are common in this structural zone. Elongate, braided, ductile shear zones surround the boundaries, with these shear zones being preferentially in-filled by milky quartz veining associated with mineralization and the better gold grades. Internal to the mineralized envelope, other, smaller-scale fault and fold sets occur, which correspond to higher-grade mineralized shoots.

Gold is present as native gold and electrum that occurs as irregular shaped intergrowths in quartz associated with interstitial space and small fractures. Gold also occurs as irregularly-shaped intergrowths and as fracture fillings associated with goethite. Locally, minor amounts of galena, graphitic to carbonaceous material, sphalerite and anglesite/cerrusite have been observed, with galena and graphite appearing to be associated with higher-grade gold values. Gold particle size

Project number: 20145

Date: December 2020 Page 1-2

Titan Mining Corporation

Mineral Ridge Project, Esmeralda County, Nevada, USA NI 43-101 Technical Report

varies from 1–2 μm to about 700 μm, but most of the particles are in the 5–50 μm size range. Gold to silver ratios are typically in the 2:1 range.

1.6 History

Gold was initially discovered in 1864–1865. Mechanized open-pit mining feeding a heap leach pad commenced in 1989, and to 2008, operations were variously conducted by Zephyr Resources Inc. (Zephyr), Homestead Minerals Corp. (Homestead), Mineral Ridge Resources, Inc. (MRRI), Vista Gold Corp. (Vista Gold), and Golden Phoenix Minerals (Golden Phoenix). Production in this period is estimated at 1,942,527 t at 0.058 opt for about 60,802 oz Au. Scorpio Gold acquired the Project in 2009, and conducted open-pit mining operations feeding a heap leach pad to November, 2017. Scorpio Gold produced, to end November 2017, 7,368,722 t grading 0.055 opt for 277,653 oz Au. The heap leach pad continued operating after mining activities were completed. From 2018 to November 2020, production from the pad was 14,516 oz Au and 7,358 oz Ag.

Exploration activities completed by companies prior to Titan included: geological mapping; rock chip and geochemical sampling; limited geophysical surveys; sonic, reverse circulation (RC) and core drilling; analytical and metallurgical testwork; and mining and technical studies.

In August 2020, Titan began mapping existing open-pit exposures at Mineral Ridge. The purpose of this program is to guide exploration and to develop near-mine drill targets. Titan placed special focus on mapping significant structures at the pit perimeters. Titan initiated a confirmation and exploration drill program in October 2020. From August to December 15, 2020, Titan collected 43 rockchip and grab samples during the mapping program.

Four targets for further exploration were estimated. Additional exploration potential remains within the Project, with a number of prospects that require data compilation, review and assessment to identify the most appropriate methods to explore those areas.

1.7 Drilling and Sampling

Exploration drilling prior to Scorpio Gold’s involvement in the Project occurred from 1939–2008, and totalled 310,739 ft (94,713 m) in 1,794 drill holes. Of this total, 554 holes were drilled using diamond core tools for a total of 63,238 ft (19,275 m), and 1,240 holes were drilled by RC methods for a total of 247,501 ft (83,668 m). Scorpio Gold completed a confirmation drilling campaign at Mineral Ridge in 2009, and development and exploration drilling campaigns from 2010 to 2017. Drilling by Scorpio Gold from 2009 to July 31, 2017, the last date of drilling for Scorpio Gold, totalled 679,059 ft (206,978 m) in 2,118 RC, core and sonic drill holes.

Titan initiated a confirmation and exploration drill program in October 2020, comprising core and RC drilling. As of December 15, 2020, Titan had completed 19,937.5 ft (6,077 m) of drilling in 28 drill holes. Another 18,750 ft (5,715 m) of drilling in 25 drill holes are planned to complete the program. The drill campaign is expected to be completed in early 2021. The Titan drill campaign includes two confirmation twin drill holes and near-mine exploration drill holes at the Brodie, Oromonte, Custer, Bluelite, Solberry, Bunkhouse, and Chieftain mine and prospect areas. The Titan drilling does not support the Mineral Resource estimates for Mineral Ridge. The drill holes are also not used in estimating targets for further exploration.

Project number: 20145

Date: December 2020 Page 1-3

Titan Mining Corporation

Mineral Ridge Project, Esmeralda County, Nevada, USA NI 43-101 Technical Report

Data collected at Mineral Ridge for RC and core drill holes during all drill programs includes, but is not limited to, collar surveys, downhole surveys, logging (lithology, structure, alteration, and mineralization), and geotechnical information. Sonic drill holes testing the leach pad were not logged. All core was photographed, and RC chip trays are retained as a record for the RC drill holes.

Sample recovery for Scorpio Gold and Titan RC drill holes was not estimated. Core recovery for the 2014–2020 diamond core campaigns was good. Scorpio Gold notes that core recovery was generally >94%. Average core recovery for Titan drilling, to date, is 93%. Sonic core recovery was not estimated, but generally observed by Scorpio Gold geologists as very good.

Collar surveys were conducted either by Scorpio Gold staff or by Kevin Haskew, a professional land surveyor with Advanced Surveying & Professional Services in Tonopah, Nevada, who completed collar survey locations for Scorpio Gold and for the Titan drill holes completed to date. Collars were picked up using global positioning system (GPS) instruments.

Down-hole surveys were not performed on all drill holes, and survey intervals varied by program, from a single survey per drill hole in the 2010 drill programs to 50 ft (15 m) intervals in the Scorpio Gold drilling. Scorpio Gold RC holes were only down-hole surveyed if they were >400 ft in depth. Titan RC holes were surveyed using the EZ-Gyro from Reflex. The sonic drill holes in the leach pad area did not have down-hole surveys performed.

RC samples were collected on approximately 5 ft (1.5 m) intervals, from a rotating wet splitter assembly attached to the drill rig. Core sample intervals were collected on 5 ft (1.5 m) intervals within homogeneous zones or on 2 1 to 7 ft (0.6 3 to 2.1 m) intervals where dictated by lithology. Sonic drill core from the leach pad drilling was placed in plastic bags in nominal 2.5 ft (0.76 m) intervals.

Bulk density determinations were conducted as part of early mining technical studies in 1995– 1996. Checks were made using a metallurgical laboratory in 2010. Scorpio Gold checked values using truck count data. MTS recommended that a 13 ft3/t ton value for in-situ rock be used for estimation purposes in this Report. If any blocks were encountered that were determined to be fill, then a bulk density value of 17.2 ft3/t should be applied. These values are consistent with the collected density data and the observations during the Scorpio Gold mining operational.

American Assay Laboratories (AAL), located in Reno, Nevada, was the primary laboratory for a majority of the exploration drill campaigns, and is independent of Scorpio Gold. The laboratory performs both sample preparation and analysis. AAL was also used as a primary laboratory in the 2014 and 2017 Scorpio Gold analytical campaigns. AAL holds International Organization for Standardization (ISO)/International Electrotechnical Committee (IEC) 17025:2005 certification for testing laboratories. During 2014 and 2016, ALS Global (ALS) was used as a primary laboratory by Scorpio Gold. Sample preparation was conducted at ALS Reno, and analysis was completed by ALS Vancouver, Canada. ALS holds ISO/IEC 17025:2005 certification. In 2015 and 2016, Bureau Veritas (BV), in Sparks, Nevada was used by Scorpio Gold as a primary laboratory, and undertook both sample preparation and analysis. The BV laboratory holds ISO/IEC 17025:2005 certification.

At AAL, gold was determined by 30 g fire assay atomic absorption spectroscopy (AAS). AAL typically reassayed samples reporting greater than 2.5 g/t gold by fire assay gravimetric finish on a separate 30 g pulp split. The analytical method requested from ALS was Au-AA123, whereby gold was determined by 30 g fire assay AAS. A gravimetric method was used for samples

Project number: 20145

Date: December 2020 Page 1-4

Titan Mining Corporation

Mineral Ridge Project, Esmeralda County, Nevada, USA NI 43-101 Technical Report

returning greater than 0.08 opt gold for non-pulp samples. The BV analytical method was a 30 g fire assay for gold.