Overview

• EXIM issued a non-binding letter of interest indicating potential financing of up to $120 million for Titan Mining’s Kilbourne Graphite Project in St. Lawrence County, New York.
• The proposal remains subject to EXIM’s standard due diligence, environmental and policy reviews, followed by consideration by the EXIM Board.
• Indicative terms contemplate a direct loan with a repayment period of about 12 years, an interest-only phase, and pricing referenced to the Commercial Interest Reference Rate.
• If finalized, the funding would support construction of a 40,000-tonne-per-year natural flake graphite facility adjacent to Titan’s Empire State Mines zinc complex.
• Titan’s shares rose nearly 20% following the announcement, and the company says it is coordinating with U.S. agencies, including the Department of Energy.