Titan Mining Corporation announced that it has extended the maturity dates of its credit facilities with each of the Bank of Nova Scotia (“BNS”) and a company controlled by Titan's Executive Chairman (the “Lender”). Additionally, the Company made an initial repayment against the BNS facility of USD 2,000,000 in the fourth quarter of 2021. The maturity date of the BNS senior secured revolving credit facility with a limit of USD 10,000,000 has been extended from April 3, 2022 to April 3, 2023 and the maturity date of the Company's second ranking secured credit facility of USD 20,710,000 with the Lender has been extended from April 5, 2022 to April 5, 2023.

In consideration of the extension of the Company's credit facility with the Lender, the Company paid an extension fee to the Lender in the amount of USD 75,000.