Titiminas Silver Secures Jajachaca Community Acceptance, Unlocking Historic Janchiscocha Molybdenum Mine for First Modern Exploration Program; Engages Independent Trading Group as Market Maker
Formal ratification by the Jajachaca Community General Assembly approving a multi-year surface access framework unlocks Titiminas' access to the past-producing Janchiscocha molybdenum mine -- historically operated by Perú Molibdeno S.A. with reported molybdenite grades of 0.7% to 1.2% -- enabling the first systematic modern exploration campaign across more than 2 kilometres of underground workings and multiple documented vein structures.
LIMA, Peru, April 24, 2026 /CNW/ - Titiminas Silver Inc. (TSXV: TITI) ("Titiminas" or the "Company") is pleased to announce that the Jajachaca Community General Assembly has formally granted Titiminas access to the community's territorial lands within the concessions owned by the Company. The access unlocks the past-producing Janchiscocha molybdenum mine -- a historic high-grade operation that has not been the subject of any modern systematic exploration program -- enabling Titiminas to plan and execute such a program for the first time.
Key Highlights
- Jajachaca Community Acceptance: the Jajachaca Community General Assembly has formally resolved to approve a multi-year surface framework with Titiminas, establishing the basis for territorial access within the Company's concessions.
- Access to a Past-Producing High-Grade Molybdenum Mine: the Jajachaca framework unlocks the historic Janchiscocha molybdenum mine, which was operated by Perú Molibdeno S.A. during the 1940s with reported molybdenite grades fluctuating between 0.7% and 1.2% per a 1940 Peruvian government geological report.
- First Modern Exploration Program: the Company will design and execute the first systematic modern exploration program at Janchiscocha, applying current geological, geochemical and QA/QC methodologies to a mineralized system that has not been evaluated with modern techniques since initial operations were suspended.
- Scale of Documented Historical Workings: over 2 kilometres of historical underground workings have been documented at Janchiscocha, together with a historic mill, and multiple veins including Proveedora (Abastecedora), Harvard, California, Torohuajana, San José No. 2, Capispotrero and Siete Amigos.
- Path to a Comprehensive Agreement: Jajachaca community leadership has expressed formal interest in developing a comprehensive surface access agreement on terms similar to the Yauli framework; documentary formalization of current access is targeted for Q2 2026.
Jajachaca Community Partnership
The Jajachaca rural community territory lies within the area of the concessions owned by the Company at the Madre Sierra Silver Project. Following engagement with community leadership, the Jajachaca Community General Assembly convened in accordance with traditional governance protocols and formally resolved to approve a multi-year surface agreement access framework with Titiminas, establishing the basis for territorial access and ongoing community relationship.
The Company is working with the Jajachaca community leadership to formalize the approved framework in a definitive surface access agreement. The Company expects to report further on the execution of the definitive agreement in a subsequent release.
Janchiscocha -- A Historic Molybdenum Mine
With Jajachaca community access now secured, Titiminas' focus at the Janchiscocha target shifts from reconnaissance to the planning of the first systematic modern exploration program at the site. Janchiscocha is a past-producing molybdenum mine with well-documented historical operations and mineralization.
Historical Operations
Historical records indicate that during the early part of the 20th century, the Janchiscocha mine was operated by Perú Molibdeno S.A., which developed the Proveedora (also referenced as Abastecedora) vein through multiple levels accessed by stopes and raises, including the Santa Teresita and Tercera Laguna levels. Additional veins identified and/or partially developed by the prior operator include Harvard, California, Torohuajana (veins T-2, T-4 and T-5), San José No. 2 (veins A and B), Capispotrero and Siete Amigos.
Historical on-site infrastructure at Janchiscocha includes the historic mill foundations, constructed in connection with prior operations to process mineralized material from the underground workings. The Company's technical team will inspect and assess the historic mill as part of the planned modern exploration program.
Historical Grade
A geological report prepared by Carlos del Solar B., Geologist, of the Cuerpo de Ingenieros de Minas y Aguas (Departamento de Geología, Ministerio de Fomento, Government of Peru), dated Lima, December 18, 1940, and archived at the Instituto Geológico, Minero y Metalúrgico del Perú (INGEMMET) under archive code A0265 (the "1940 Historical Report"), reports molybdenite grades fluctuating between 0.7% and 1.2% at Janchiscocha, and describes three principal veins each exceeding one metre in width carrying molybdenite hosted in milky white quartz. The 1940 Historical Report was prepared by the Government of Peru for the purpose of independently characterizing the mineralization at the property then held by Perú Molibdeno S.A. As no intact, historic core or assay samples exist for inspection or resampling, the Company's Qualified Person was not able to validate the historic results and is therefore relying on the reported historic results only as indicative of further potential and the style of mineralization on the property.
Geomechanical Conditions
Technical inspections conducted during the December 2025 – March 2026 work program confirmed partial accessibility of the existing underground workings at Janchiscocha and acceptable geomechanical conditions, including competent rock. Service installation, drainage and access conditioning will be implemented as part of the modern exploration program.
First Modern Exploration Program
The Jajachaca community acceptance enables Titiminas to plan and execute what the Company believes to be the first systematic modern exploration program at Janchiscocha. The planned program will apply current geological, geochemical, geophysical and QA/QC methodologies that were not available during the 1940s operating period and that have not subsequently been applied at Janchiscocha in any systematic way. Planned activities include:
- Systematic underground and surface mapping of the Proveedora vein system and the additional veins identified in the historical record.
- Modern channel and chip sampling with full QA/QC protocols (blanks, standards, duplicates) analyzed at an ISO 9001-certified laboratory.
- Re-logging and verification of accessible historical workings to correlate modern observations with the 1940 historical record.
- Inspection and technical assessment of the historic mill and associated surface infrastructure.
- Geotechnical and access conditioning work to prepare priority sectors for further exploration.
- Evaluation of the geological setting to determine whether the vein system represents part of a broader porphyry-related mineralizing system, consistent with observations elsewhere across the Madre Sierra Project.
The results of this program are expected, over time, to provide the technical basis for the Company to evaluate strategic options for Janchiscocha. The Company will report on the results of exploration activities as they progress.
Management Commentary
"The acceptance we have earned from the Jajachaca community is a significant milestone. It reflects months of patient work by our team and, above all, a genuine reset of the relationship with the community after years of distance. What this acceptance unlocks is equally important: Janchiscocha is a past-producing molybdenum mine with more than 2 kilometres of historical workings and documented high-grade mineralization that, to our knowledge, has never been the subject of a modern exploration program. Our job now is to apply today's tools to a historic asset and to do so in a way that continues to honour the trust the community has placed in us."
-- Luis Goyzueta, Chairman and Chief Executive Officer, Titiminas Silver Inc.
About Titiminas Silver Inc.
Titiminas Silver Inc. is a Peru-focused silver developer advancing the past-producing high-grade Madre Sierra Silver mine in central Peru, one of the world's most prolific mining jurisdictions. The Company is pursuing a multi-asset growth strategy with a clear path to becoming a mid-tier silver producer through project development and strategic M&A, leveraging a proprietary deal flow and deep relationships across Peru. Titiminas is led by an experienced team with a proven track record in exploration, development, financings and operations.
Engagement of Independent Trading Group as Market Maker
The Company also announces that, subject to regulatory approval, it has engaged the services of Independent Trading Group ("ITG") to provide market-making services in accordance with TSX Venture Exchange ("TSXV") policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.
Under the agreement, ITG will receive compensation of CAD$6,500 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and, at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
About Independent Trading Group
Independent Trading Group (ITG) Inc. is a Toronto-based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
Qualified Person
The technical information in this news release has been reviewed and approved by Helmut Herrera, VP Exploration of Titiminas Silver Inc., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Herrera holds a degree in Geology from the Universidad Nacional Mayor de San Marcos in Lima, Peru, and a postgraduate degree in Mineral Economics from the University of Chile, and has over 20 years of exploration experience.
The historical grade information referenced in this news release with respect to Janchiscocha (including molybdenite grades of 0.7% to 1.2% and references to the Proveedora, Harvard, California, Torohuajana, San José No. 2, Capispotrero and Siete Amigos veins and to historical operations by Perú Molibdeno S.A.) is derived from the 1940 Historical Report identified above. A qualified person has not done sufficient work to verify, classify or otherwise rely on the historical grade information as current, and the Company is not treating the historical grade information as current. The historical information is considered relevant because it indicates the presence, scale and character of molybdenum mineralization at Janchiscocha and provides a basis for prioritizing the Company's first modern exploration program at the site. Significant additional work will be required before any mineralization at Janchiscocha could be disclosed as a current mineral resource or mineral reserve under National Instrument 43-101. Investors are cautioned not to rely on the historical grade information described in this news release.
References in this news release to the scale of historical workings and to specific vein names are based on historical documentation and field observation during the December 2025 – March 2026 work program. Historical workings were not developed by the Company and the Company has not independently verified the full extent of historical development. References to rock mass rating (RMR) are based on geomechanical inspection of accessible underground workings and are preliminary.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These include, without limitation, statements with respect to: the formalization of Jajachaca access documentation; the Company's ability to negotiate a comprehensive surface access agreement with the Jajachaca community; the planning, design, scope and execution of the first modern exploration program at Janchiscocha; the applicability of current exploration methodologies to the Janchiscocha target; the geological setting of Janchiscocha and its relationship to the broader Madre Sierra Project; the Company's intention to verify historical information using modern methods; regulatory approval of, and commencement of services under, the ITG market-making engagement; and the Company's business plans generally.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management as at the date of this release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown risk factors, many of which are beyond the Company's ability to predict or control, could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risk factors include, without limitation: risks related to exploration and mining activities; the possibility that modern exploration results differ materially from historical information; the possibility that the scale or continuity of historical workings differs from current documentation; ability to formalize and maintain community agreements; permitting and regulatory approvals; the availability of qualified personnel, equipment and services; general economic conditions and commodity prices; and the other risk factors disclosed in the Company's public filings.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Titiminas Silver Inc
For Further Information: Titiminas Silver Inc., Luis Goyzueta, Chairman and CEO, Email: [email protected], Telephone: +1 646 262 0090
Share this article