Titiminas Silver Reports Results from Twelve Additional Packsack Drill Holes at Madre Sierra Norte and Madre Sierra, Expanding High-Grade Silver Mineralization Across Multiple Vein Structures

Titiminas Silver Inc. (TITI) reported assay results from 12 additional Packsack holes, comprising nine at Madre Sierra Norte (seven surface and two underground) and three surface holes at Madre Sierra. The holes were drilled between August and 15 September 2026. The company stated that mineralized structures were intersected in all twelve reported holes, although one hole, PKS-MSN-26-02, was lost to poor core recovery from contaminated recirculated water and returned no results.

The best reported intervals were headline results from PKS-MSN-26-07, which intersected 1.00 m TW @ 201.2 g/t Ag, 1.70 g/t Au, 2.36% Cu, 1.19% Pb, 1.59% Zn (479 g/t AgEq) in Veta NN 17, and 0.65 m TW @ 107.8 g/t Ag, 5.32 g/t Au, 2.93% Pb, 12.56% Zn (578 g/t AgEq) in Veta NN 16.

Other notable intercepts included:

• PKS-MSN-26-03: 1.60 m TW @ 218.8 g/t Ag, 0.59 g/t Au, 0.87% Cu, 1.53% Pb (321 g/t AgEq) in Tensional 1.
• PKS-MSN-26-05: 0.60 m TW @ 224.1 g/t Ag, 0.96 g/t Au, 1.89% Cu, 1.73% Pb (418 g/t AgEq) in Veta NN 10, plus six other intervals.
• PKS-MSN-26-04: Seven named structures, with the best being 0.99 m TW @ 294.1 g/t Ag, 0.97 g/t Au, 0.74% Cu (389 g/t AgEq) in Veta NN 2.
• PKS-MSN-26-11: Four intervals, with the best being 2.00 m TW @ 205.94 g/t Ag, 0.30 g/t Au, 0.33% Cu (246 g/t AgEq) in Veta Leydi and 2.30 m TW @ 205.75 g/t Ag, 0.35 g/t Au (255 g/t AgEq) in Tensional 4.
• PKS-MSN-UG-26-02 (underground): 1.25 m TW @ 232.35 g/t Ag, 0.55 g/t Au, 3.22% Cu (495 g/t AgEq) in Veta Leydi, representing the highest AgEq gram-metre intercept of the batch.

Results from the Madre Sierra surface holes included:

• PKS-MS-SUP-26-03: 0.65 m TW @ 113.53 g/t Ag, 1.71 g/t Au, 3.38% Cu (433 g/t AgEq) in Viviana.
• PKS-MS-SUP-26-04: 0.47 m TW @ 242.33 g/t Ag, 1.11% Cu (344 g/t AgEq) in Viviana and 0.53 m TW @ 214.15 g/t Ag (356 g/t AgEq) in Tensional.
• PKS-MS-SUP-26-05: 0.73 m TW @ 77.32 g/t Ag, 2.71% Cu (328 g/t AgEq) in Viviana.

PKS-MSN-26-06 returned only low values across four structures, with a best of 0.45 m TW @ 30.8 g/t Ag (49 g/t AgEq), alongside 20.9–28.0 g/t Ag and 37–46 g/t AgEq on the other three.

Silver equivalent (AgEq) calculations used US$58.60/oz Ag, US$3,994/oz Au, US$5.96/lb Cu, US$0.86/lb Pb, US$1.55/lb Zn, and assumed recoveries of 80% Ag, 45% Au, 85% Cu, 75% Pb, and 74% Zn. These results feed into a maiden NI 43-101 Mineral Resource Estimate (MRE) targeted for end-Q2/early-Q3 2027, with a Preliminary Economic Assessment (PEA) and Final Investment Decision (FID) targeted for Q4 2027.

Titiminas Silver Inc. (TITI) remains a pre-resource explorer and developer with no current NI 43-101 resource, no revenue, and no Preliminary Economic Assessment. The company holds a market capitalization of roughly C$33 million against approximately C$16.6 million in cash, resulting in an enterprise value of only ~C$16 million. At this stage, the absence of true width, cutoff, and metallurgy data is the baseline state, with the market pricing scale and odds rather than bankability.

The latest batch of drilling adds or confirms a broad vein inventory across two zones, spanning approximately 350 meters of easting and 150 meters of elevation. The identified structures include NN 1–19, Tensional 1–9, Ramal Leydi, Fiorella, Alejandra, and Viviana. The drilling achieved a 12-for-12 hit rate, technically 12-for-13 with one lost hole. This supports the interpretation of a large, multi-vein hydrothermal system, representing an unquantified increase in potential tonnage.

Regarding grade, the best AgEq gram-metres (~619) are roughly one-fifth of the June North Zone anchor (~3,333). Standalone silver grades range from 20–244 g/t on nearly every interval. There is no new zone at a new depth, no step-change in grade or scale, and no assay-supported extension of the high-grade North Zone shoot.

The expectation anchor remains PKS-MSN-26-01 (25 June 2026, 0.70 m @ 4,604 g/t Ag). This result did not re-rate the stock; TITI closed at C$1.00 on 25 June, compared to C$1.05 on 22 June and C$1.00 on 26 June. Shares have since traded from C$1.70 at the April listing down to the C$0.76–0.84 range. Because the anchor is not embedded, the large grade delta versus June does not constitute a material negative event, as the market never priced in a repeat of that specific result.

The latest results represent solid, expected progress that confirms continuity of the model and widens the structure inventory. However, the grade-and-width substance is weaker than the best previously demonstrated rock. The results do not change the perceived deposit grade, add a resource, or de-risk metallurgy, permitting, or funding. The expected share-price impact is roughly flat to modestly positive on a low-expectation price near its 52-week low, rather than a significant market event.

Titiminas Silver Inc. (TSXV: TITI) is a Peru-focused silver developer that listed on the TSX Venture Exchange on 9 April 2026 via a reverse takeover of formerly 1317202 B.C. Ltd. The transaction consolidated shares at a ratio of 10.7916:1 and issued 35,155,067 shares to the former target's holders. The company’s flagship asset is the past-producing Madre Sierra Silver Mine, located in the Ricrán district of Jauja province, Junín, approximately 70 km from Lima. The property spans 7,561 hectares across 18 concessions at an elevation of 4,380–4,745 m. Existing infrastructure includes more than 1 km of underground development, an 80-person camp, roads, and water infrastructure. The site is registered under Peru's REINFO small-scale regime, allowing for up to 350 tpd, and holds IGAFOM environmental approval along with surface-access agreements with the Yauli (through 2032) and Jajachaca communities.

The company’s asset portfolio includes the Madre Sierra mine, characterized by Ag-Pb-Zn and Ag-Cu-Au veins in dacite; the Madre Sierra Norte, a newly identified Ag-Cu-Au vein swarm; the Titiminas CRD, an Ag-Pb-Zn carbonate replacement deposit at the Chambará limestone–dacite contact; and the Janchiscocha historical molybdenum mine, which has shown up to 8.29% Mo in channel samples over a ~1 km corridor. A deeper Cu-Mo porphyry concept is also part of the exploration program.

Disclosed historical estimates are limited to the Marán Project/Madre Selva 90-3P from 2006/2007. These figures include approximately 1,267,200 t at 0.82 g/t Au, 4.60 oz/short ton Ag, 0.81% Cu, 3.10% Pb, and 3.00% Zn (proven), as well as 0.70 g/t Au, 3.95 oz/short ton Ag, 0.74% Cu, 2.55% Pb, and 3.05% Zn (probable). The company explicitly states these are historical estimates and not a current NI 43-101 resource. There is currently no resource estimate, NPV, IRR, capex, AISC, or mine plan.

Management has guided for a maiden NI 43-101 MRE by the end of Q2 or early Q3 2027, with a PEA and FID targeted for Q4 2027. The Phase 1 target is approximately 1.2 moz AgEq/year from a modular 350 tpd plant, with expansion potential to 800–1,000 tpd.

The capital structure consists of 38.8M basic shares, plus approximately 1.7M RSUs, 8.3M warrants, and 0.1M options, totaling roughly 48.9M fully diluted shares. The company holds approximately C$16.6M in cash following a C$16.6M brokered financing at C$1.75 and a C$3.075M non-brokered financing at C$1.75.

Management includes Chairman and CEO Luis Goyzueta, CFO Chris Richards, and VP of Exploration and Qualified Person Helmut Herrera. The board includes independent directors from Vida Energy, Gemini Resources, Fortescue, and former Victoria Gold. Associated party spending includes Native Ads (up to US$200,000 over ~24 months), Atrium Research (C$10,200/quarter), Adelaide Capital (C$10,000/month plus options), and Independent Trading Group market-making (C$6,500/month).