Overview of Titan Minerals' joint venture & earn-in agreement with Hanrine

Titan Minerals Limited (ASX:TTM) has announced the execution of a binding joint venture and earn-in agreement with Hanrine Ecuadorian Exploration and Mining S.A. (Hanrine), a subsidiary of Hancock Prospecting Pty Ltd, for the Linderos Copper Project in Ecuador. Hanrine will have the opportunity to acquire up to an 80% ownership interest in the project by fulfilling specific exploration milestones and investing up to US$120 million. The initial 10,000m drilling campaign is in preparation, with technical site visits and logistics planning well underway.

Executive commentary on the joint venture & earn-in agreement

Titan's CEO, Melanie Leighton, expressed enthusiasm about the formal arrangements with Hanrine, highlighting the endorsement of the early-stage porphyry copper-gold discovery at the Linderos Copper Project. She emphasized the advanced technical discussions with Hanrine and their readiness to commence exploration activities, aiming to ensure seamless operations once drilling begins. Leighton also acknowledged the mutual benefits expected from exploration success and the positive impact on Ecuador's economy. Further updates on logistics and exploration activities are anticipated as the company prepares for the initial drilling campaign.

Summary of the joint venture & earn-in agreement and outlook

The joint venture and earn-in agreement between Titan Minerals and Hanrine signifies a significant step towards the development of the Linderos Copper Project. With Hanrine's potential investment of up to US$120 million, the project's exploration and development activities are poised for substantial progress. The company's CEO, Melanie Leighton, highlighted the technical capability and financial capacity of Hanrine, indicating a positive outlook for the project's advancement. The upcoming 10,000m drilling campaign is expected to provide valuable insights, and the company looks forward to sharing further updates on the project's milestones and achievements.