TINKA PROVIDES UPDATE ON EXPLORATION PROGRAM AT SILVIA GOLD - COPPER PROJECT Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) ( TSXV: TK) (OTCQB: TKRFF ) is pleased to provide an update on the ongoing exploration at the Company’s 100% owned Silvia gold-copper project, and to p
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May 22, 2025
TINKA PROVIDES UPDATE ON EXPLORATION PROGRAM AT SILVIA GOLD - COPPER PROJECT
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) ( TSXV: TK) (OTCQB: TKRFF ) is pleased to
provide an update on the ongoing exploration at the Company’s 100% owned Silvia gold-copper project, and to provide a
summary of the exploration results to date. The Silvia project was acquired from BHP in 2021, located 100 km south of the
world-class Antamina copper mine in the central Andes of Peru. Silvia is believed to be prospective for gold-copper
mineralization of a similar skarn - porphyry style to Antamina. Silvia NW , the most advanced of the exploration targets
identified on the 10,900 hectare Silvia mining claim package, has strong indications for gold - copper potential based on
systematic surface sampling and preliminary geophysical prospecting. The Silvia NW target has not been drill tested
previously.
Dr. Graham Carman, Tinka’s President and CEO, stated : “The Silvia project offers Tinka a significant opportunity for the
discovery of a gold – copper deposit, located 30 km from our flagship Ayawilca project and just 120 km from the Peruvian
coast. ‘Area A’ target at Silvia NW , which spans several hectares of outcropping mineralization (approximately 500 m by
150 m including areas of cover), has returned multiple high-grade samples with an average grade of 0.5 g/t gold and 0.5%
copper from 261 channel samples. Individual channel samples have returned up to 22 g/t gold and 12% copper. The strong
positive relationship between gold and copper is highly encouraging, as this increases the overall grade of the mineralization
and further enhances Silvia’s potential.”
Dr. Carman continued: “We have made significant progress toward securing our d rill permits for Silvia NW, thanks in large
part to the great work by our local team. Surface ownership rights covering the key Silvia NW target were formally issued to
the local community in Q3 2024. Tinka concluded successful negotiations for access with the community in Q4 2024. A
DIA drilling permit allowing up to 40 drill platforms was approved by the Peruvian authorities also in Q4 2024, and a request
to initiate activities was filed with the authorities in Q1 2025. The Company is now awaiting the final step of the drilling
permit approval, which is expected to be granted within weeks.”
“Current and ongoing exploration at Silvia will involve detailed targeting focused on the significant gold – copper
mineralization at Areas A and further interpretation of the geophysical targets at Area , in anticipation of a maiden drill
program later in 2025, subject to final drill approval and funding. The e xploration activities at the Ayawilca project remain
on hold as we continue with the previously announced strategic review.”
Highlights of exploration results from the Silvia NW gold-copper project
• Three areas of copper-gold mineralization have been identified and sampled at Silvia NW (known as Areas A, B and
C) along a 3.5 km northeast-southwest trend.
• Surface sampling: Channel samples (680 in total) were assayed for gold , copper and pathfinder elements with
individual samples grading up to 22 g/t gold and 12% copper.
o Highlight of channel sampling: 46 metres grading 1.9 g/t gold and 0.8% copper (including 6 metres grading
12.8 g/t gold and 2.7% copper) at “Area A” – see previous news release.
o Area A: Channel samples from an area of 500 metres by 150 metres returned an average grade of 0.55 g/t
gold and 0.45% copper (average of 261 non-selective samples).
T: 604.685.9316 [email protected]
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o Mineralization is associated with skarn / stockwork hosted by monzonite and limestone.
o A strong positive correlation exists between gold and copper (associated with chalcopyrite content).
• Geophysical prospecting: Drone-based magnetics was flown at 100-metre line spacing over Silvia NW with several
anomalies outlined , including a large circular feature 1.5 km in diameter at Area B interpreted as a potential
mineralized intrusion at depth;
• Community: A two-year period of coordinated engagement with the local community was established and will
commence upon receipt of ‘initiation of activities’ (IOA) authorization from the Peruvian government.
• Drill permitting: Approval of DIA drill permit for up to 40 drill platforms was approved in Q4 2024.
• Authority to initiate activities: A request to “Initiate Activities” was filed with the Peruvian authorities in Q1 2025.
The Company anticipates final approval will be granted early Q3 2025.
• The highest priority copper-gold drill targets are currently interpreted as ( 1) high-grade skarn/stockwork at Area A
and (2) geophysical targets at Area B.
Geology of Silvia NW
Mineralization at Silvia NW is hosted by the Jumasha Formation, a >2 km thick sequence of Upper Cretaceous limestone
that is widespread throughout the central Peruvian Andes. Jumasha limestone is a highly favourable host rock for large
copper and other deposits, and is the host to the world-class Antamina copper mine 100 km to the north. Beneath the
Jumasha limestone lies the Goyllar sandstone which outcrops near the western boundary of the Silvia property.
The Jumasha limestone is typically strongly altered to ‘skarn’ in the mineralized rocks at Areas A, B and C at Silvia NW .
Skarn alteration occurs both within limestone and the intrusions themselves, typified by widespread green garnet and pale
pyroxene alteration within a few tens of metres of the limestone - intrusion contacts. Further from the intrusions the
limestone is altered to marble or is weakly recrystallised, and even further away the limestone appears unaltered. At Area
B, limestone is altered to hornfels (a pyroxene rock) indicating proximity to an intrusion, and cut by heterolithic breccia.
Diorite and quartz diorite intrusions outcrop at Area C and are largely unaltered , while skarn borders the edge of the
intrusions in contact with limestone. An intrusive breccia which contains clasts of diorite and strongly altered monzonite
outcrops at Area B. Dikes form a radial pattern associated with a prominent circular feature at Area B. At Area A, dikes and
intrusions of quartz monzonite are altered to ‘endoskarn’ (including garnet, pyroxene with later amphibole, chlorite) and
are commonly mineralized with copper sulphides (chalcopyrite) and pyrite. Quartz stockwork veining is also noted at Area
A within the mineralized skarn.
Channel samples from Silvia NW
Table 1. Summary of average grade of surface samples from mineralized areas at Silvia NW
Samples (non-selective
channels or trenches)
No. of
samples Gold g/t (av.)
Copper %
(av.)
Silver g/t
(av.)
Zinc %
(av.)
Average sample
length (m)
Area A 261 0.55 0.45 4 0.38 1.7
Area B 348 0.08 0.18 2 0.03 1.4
Area C 74 0.03 0.19 4 0.52 1.6
Range of metal content in each sample
Au g/t Cu % Ag g/t Zn %
All Areas 0.0025 to 22.5 0.002 – 12.3 0.1 - 192 0.001 – 5.8
Area A
The skarn mineralization at Area A covers a n area of discontinuous outcrop within a valley floor covering an area
approximately 500 metres by 150 metres with significant colluvium and alluvium cover between outcrops. The maximum
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grade in the channel samples was 22.5 g/t gold and 12.3% copper. There is a strong positive correlation between gold and
copper in all of the samples. Copper is associated with visible chalcopyrite, and minor copper oxides. Free gold has been
observed under microscope, and submicroscopic gold is likely associated with the chalcopyrite.
Area B
A prominent circular feature with a diameter of approximately 1.5 km can be observed in the topography and in the
magnetics – see Figures 2 and 3. This circular feature is interpreted as caused by a buried mineralized intrusion. Skarn and
breccia is exposed over an area of approximately 600 metres by 300 metres, although gold - copper mineralization is not
as well developed as at Area A in the surface outcrops. The maximum grade of any channel sample from Area B was 6.3 g/t
gold and 11.4% copper. A syncli ne fold passes through the centre of Area B , which is associated with a wide zone of
hornfels and local breccia.
Area C
Mineralized skarn occurs around the southern flank of a diorite stock at Area C, but generally is more restricted in area and
not as well developed as at Areas A and B. The maximum grade in any channel sample was 1.0 g/t gold , 2.5 % copper and
3.6% zinc. An area of marble surrounds the diorite and may indicate potential for mineralized skarn and porphyry at depth.
Drill Permit
A DIA drill permit including up to 40 drill platforms was approved during Q4 2024. Prior to the Company being allowed to
drill, an authority to initiate drilling activities must be provided by the Peruvian government. It is expected that such
approval could be granted within weeks.
Figures below show the location of the Silvia and Ayawilca projects in central Peru (Figure 1); Geology of Silvia NW with a
summary of the gold-copper geochemistry (Figure 2); and a Magnetic anomaly map over the same Silvia NW area (Figure
3).
Figure 1. Location of the Silvia project in central Peru
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Figure 2. Geological Map of Silvia NW
Figure 2. Magnetic Anomaly Map of Silvia NW
Note to Figure 2. The hot colours in the analytical signal map highlight magnetic sources, while the size the of the anomaly is a
reflection of the size and depth of the magnetic bodies.
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Notes on sampling and assaying
Channel samples were continuous samples collected with hammer and chisel over 1 to 2m intervals and dug to a depth of
up to 1m. In areas of sporadic outcrop, samples were taken as semi-continuous rock chips. Tinka believes the samples
are representative of outcrop and are non-selective in nature. Samples were bagged and labelled in the field. Samples
were sent to Certimin and ALS laboratories in Lima for drying, crushing P85 < 2mm, and 250 g pulverized P85 < 75 microns.
Gold was analysed by fire assay using 30 g aliquots and multi-element analysis by ICP using multi-acid digestion. Au assays
> 10 g/t were re-assayed by fire assay and gravimetric finish. Cu, Pb and Zn assays above 1% were re-assayed by AAS .
Standards and blanks were not inserted by Tinka for the channel sampling but were inserted at the laboratory.
On behalf of the Board,
“Graham Carman”
Dr. Graham Carman, President & CEO
Further Information:
www.tinkaresources.com
Mariana Bermudez 1.604.685.9316
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About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100% -owned Ayawilca zinc -silver-
tin project in central Peru at PEA stage . The Zinc Zone has an estimated Indicated Mineral Resource of 28.3 Mt grading
5.82% zinc, 16.4 g/t silver, 0.2% lead and 91 g/t indium, and Inferred Mineral Resource of 31.2 Mt grading 4.21% zinc, 14.5
g/t silver, 0.2% lead and 45 g/t indium . The Tin Zone has an estimated Indicated M ineral Resource of 1.4 million tonnes
grading 0.72% tin and Inferred Mineral Resource of 12.7 Mt grading 0.76% tin . The Company filed a NI 43-101 technical
report on an updated PEA for Ayawilca on April 15, 2024 ( link to NI 43-101 report here) . Dr. Graham Carman, Tinka’s
President and CEO, has reviewed, verified and approved the technical contents of this release. Dr. Carman is a Fellow of
the Australasian Institute of Mining and Metallurgy, and is a Qualified Person as defined by National Instrument 43-101.
Forward Looking Statements: Certain information in this news release contains forward -looking statements and forward -looking
information within the meaning of applicable securities laws (collectively "forward -looking statements"). All statements, other tha n
statements of historical fact, are forward-looking statements. Forward-looking statements include, but are not limited to, statements
regarding Nexa and Buenaventura becoming Control Persons of the Company and future financings of the Company. Forward-looking
statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently availa ble to
Tinka's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factor s including,
without limitations: regulatory approvals; volatility and sensitivity to market prices; timing of planned work programs and results varying
from expectations; delay in obtaining results; changes in equity markets; uncertainties relating to the availability and costs of financing
needed in the future; equipment failure, unexpected geological conditions; imprecision in resource estimates or metal recover ies;
success of future development initiatives; competition and operating performance; environmental and safety risks; timing of geological
reports; the preliminary nature of the Ayawilca Project PEA and the Company’s ability to realize the results of the Ayawilca Project PEA;
the political environment in which the Company operates continuing to su pport the development and operation of mining projects;
risks related to negative publicity with respect to the Company or the mining industry in general; delays in obtaining or failure to obtain
necessary permits and approvals from local authorities; community agreements and relations; and, other development and operating
risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein. Although Tinka believes that assumptions inherent in the forward -looking
statements are reasonable, forward -looking statements are not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws,
Tinka disclaims any intent or obligation to update any forward-looking statement.
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 news release.