Core Gold DMMIF

RE:What happens now?

[JohnMcIntosh]

Everything is explained in the fillings. Please read by yourself before tendering your shares or making a decision.

Essentially, as long as Titan doesn't reach 66 2/3%, Core Gold will remain listed on the facilities of the TSXV and Titan won't be able to proceed with a compulsory acquisition or a subsequent acquisition transaction. They will have to buy the remaining shares in the open market, through privately negotiated transactions or through another takeover bid. In other words, there is no reason to panic if you don't like the current offer, you can just sit tight and wait for an increased offer to come. If you tender your shares, they will be exchanged against Titan shares in the next days and you won't be able to benefit from an eventual improved offer.

Please find below an exctract of the last circular

Will I have protections if Titan buys more than 50% of the Core Shares and I don't sell? YES. In Canada, applicable corporate law contains protections for minority Core Shareholders, including the right, in certain circumstances, to dissent and demand payment of their shares in cash. If Titan is successful in acquiring in excess of 90% of the Core Shares pursuant to the Titan Offer (other than Core Shares owned by Titan or any affiliate at the date of the Titan Offer), Titan has disclosed an intention to acquire the remaining Core Shares pursuant to a right of compulsory acquisition pursuant to the Business Corporations Act (British Columbia). If Titan is successful in acquiring in excess of 66% of the Core Shares, but less than 90% of the Core Shares, Titan has disclosed only that it may pursue other means of acquiring the remaining Core Shares not deposited under the Titan Offer pursuant to a subsequent acquisition transaction. You are encouraged to read Section 16 of the Titan Original Offer Circular, "Acquisition of Core Shares Not Deposited Under the Offer" for an explanation of Titan's intentions and the mechanics of any such acquisition.