Titan Mining Receives Financing Interest of up to US$120 Million from U.S. EXIM Bank for Kilbourne Graphite Project

Executive Summary

• The Export‑Import Bank of the United States issued a non‑binding Letter of Interest for up to US$120 million under its “Make More in America” program to finance Titan Mining’s Kilbourne Graphite Project.
• The proposed loan would be a direct loan with an approximate 12‑year tenor, including an interest‑only period and pricing tied to the Commercial Interest Reference Rate (≈5.0%).
• If finalized, the financing could cover a substantial portion of the capital required for constructing a 40,000 t/yr natural flake graphite facility, supporting Titan’s expansion into critical‑minerals production and creating high‑quality U.S. jobs.

Key Details

• Financing Source: Export‑Import Bank of the United States (EXIM) – “Make More in America” initiative.
• Potential Amount: Up to US$120 million.
• Loan Structure: Direct loan, ~12‑year repayment term, interest‑only period included; rate linked to CIRR (~5.0%).
• Purpose: Construction of the Kilbourne Graphite Project – a 40,000‑tonne‑per‑year commercial natural flake graphite plant adjacent to Titan’s Empire State Mines zinc operations in St. Lawrence County, NY.
• Strategic Importance: Designated as a U.S. critical‑minerals asset; aligns with national priorities for domestic supply‑chain resilience and job creation.
• Current Status: Letter of Interest is non‑binding; financing remains subject to EXIM’s due diligence, environmental review, policy compliance, and final Board approval.
• Company Positioning: Titan expects the financing structure to be highly capital‑efficient, leveraging strong operating cash flow from its zinc business.
• Government Collaboration: Ongoing coordination with U.S. agencies (Department of War, Department of Energy) for potential additional strategic funding and policy support.

Notable Quotes

“We are proud to expand our partnership with EXIM as we advance the Kilbourne Graphite Project—an asset that will create high‑quality U.S. jobs, strengthen critical‑mineral supply chains, and position Titan as the leading fully integrated natural flake graphite producer in the United States.” – Rita Adiani, President & CEO, Titan Mining

Materiality Assessment: Material – Positive (potential large‑scale financing that could materially impact project development, cash flow, and shareholder value).