The Board of Titanium Sands Limited announced completion of the infill and extension resource drilling program at Mannar Island, Sri Lanka. The program consisted of approximately 300 holes for a total meterage of around 3,600m. The primary objective of the drilling was to convert more of the resource in the high-grade zone from a JORC-2012 inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal400m to 200m.

A secondary objective was to drill 12m deep holes beneath a 2.2km sq. area of the high-grade zone resource only previously tested by shallow auger drilling down to 2-3m below surface. The program was completed under the management of the Geological Survey and Mines Bureau technical services division ("GSMBTS") using TSL's reverse circulation air-core drilling rig.

The program was contained within the company's high grade resource zone as outlined in the initial scoping study. This high-grade zone contains a mineral resource estimate2 of 93Mt at 5.24%THM of which 32% is already in the indicated category. It represents only 35% of the total current mineral resource estimate for the project of 265Mt at 4.38%THM.

As reported, sample preparation in the Company's on site laboratory is ongoing. Once prepared, shipment of samples to the reporting laboratory in South Africa will occur. Approximately 45% of the program samples have already been shipped and the balance are expected to leave Colombo in the coming weeks as the onsite laboratory work concludes.

Analytical laboratory determinations of Total Heavy Mineral content of samples are expected to be completed by the end of October2022.Results from the first 68 drill holes have already been received and reported on with all holes returning significant heavy mineral intercepts of up to 11m at over 8% Total Heavy Minerals (THM)and with individual samples returning values in excess of 20% THM. An updated resource estimate will follow allowing for a revision of the project' scoping study. The scoping study will provide a detailed analysis of the numbers and scale of the project for the market to consider.