Sale of Zaruma Mine & Portovelo Process Plant for US$15.0 million
Highlights
• Titan Minerals has entered into a term sheet with Pelorus Minerals for the sale of its non-coreZaruma Mine and Portovelo Process Plant assets
• Consideration is US$15 million in staged cash payments plus a 2% net smelter return royaltyon future copper production from the Zaruma Mine concessions
• The sale of the Zaruma Mine and Portovelo Process Plant will strengthen the Company’s cash
Ann: Sale of Zaruma Mine & Portovelo Process Plant for US$15m, page-2
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