TINKA PROVIDES UPDATE ON SILVIA GOLD-COPPER PROJECT WITH COMPLETION OF INITIAL 1,400 METRE DRILL PROGRAM Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) (TSXV: TK) (OTCQB: TKRFD) is pleased to provide an update of the exploration activities at the Silvia gold-copper property
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January 23, 2025
TINKA PROVIDES UPDATE ON SILVIA GOLD-COPPER PROJECT WITH COMPLETION
OF INITIAL 1,400 METRE DRILL PROGRAM
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) (TSXV: TK) (OTCQB: TKRFD) is pleased to
provide an update of the exploration activities at the Silvia gold-copper property in Peru.
Highlights of initial drilling at Silvia:
Initial 1,400 metre diamond drill program completed – A four-hole, 1,400 metre diamond drill program which
commenced in late October 2025, was completed in early January 2026. The drill cores are being assayed for gold,
copper and pathfinder elements at a commercial laboratory in Lima. Assays are awaited.
Visible copper mineralization – Copper in the form of chalcopyrite was observed in all holes. Visible chalcopyrite
of potentially economic grade occurs over relatively narrow intervals up to a few metres in thickness, and is
concentrated on or near the contacts between monzonite intrusive dikes and limestone associated with skarn
alteration. Chalcopyrite is associated pyrite, magnetite and minor pyrrhotite. Molybdenite is also present in some
intersections but typically not directly associated with visible chalcopyrite.
Copper increasing with depth - There are multiple intervals of copper mineralization, and there appears to be a
tendency for the chalcopyrite mineralization to increase in intensity with depth, to be confirmed by the assay results.
Drill rig remains on site - The portable drill rig will remain on site for the wet season until the end of April at the
earliest, or until a decision is made to continue the drilling program subject to results of an upcoming geophysical
program.
Next steps – Assay results for the four-hole drill program are expected Q1 2026. A ground geophysical survey using
induced polarization (“IP”) and/or magnetotellurics (“MT”) is planned for Q2 2026 targeting zones of greater
sulphide concentrations.
Dr. Graham Carman, President and CEO of Tinka, stated: “The first drill program at Silvia has been completed at Silvia NW
Area A, one of three targets at the Silvia gold-copper property. Four holes were drilled to depths of between 250 metres and
450 metres targeting gold - copper mineralization sampled at surface. Copper mineralization appears to be relatively
narrow but we are encouraged by the confirmation of its presence in the subsurface. There are multiple intervals of visible
copper sulphides in some of the holes, and there appears to be a tendency for copper abundance to increase with depth,
to be confirmed by assays. We are planning a ground geophysical program to follow-up this drilling once access allows
after the wet season. The geophysical surveys are intended to highlight areas of greater sulphide concentrations both
laterally removed from Area A and at depth, including at Areas A and B.”
Discussion of Observed Geology in the Drill Holes
Four diamond drill holes were completed at Silvia NW Area A between late October 2025 and early January 2026. Three of
the holes (S25-001, 002 and 004) were drilled on one section line with holes inclined to the west. A fourth hole (S25-003)
was drilled on a separate section approximately 100 metres to the north (Figure 1).
T: 604.685.9316 [email protected]
TSXV: TK OTCQB: TKRFD
NEWS RELEASE
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A summary of the drill intercepts which have significant visible chalcopyrite is presented in Table 1. Details of the four drill
holes including collar coordinates are summarized in Table 2.
There is widespread and pervasive skarn alteration in the intrusive rocks (quartz monzonite) and limestone (Jumasha
Formation) in the drill holes. Skarn typically consists of green and brown garnet with lesser pyroxene, vesuvianite and
potassium feldspar (“prograde” alteration) which is overprinted by variable amounts of chlorite, quartz, amphibole,
magnetite and carbonate (“retrograde” alteration) in veins and replacements. Exoskarn refers to skarn in limestone,
whereas endoskarn refers to alteration in monzonite intrusions (mostly dikes). Sulphides including chalcopyrite, are
typically associated with the retrograde alteration. On the edges of the skarn, marble and recrystallised limestone
predominate. Typical drill core textures are displayed in Figure 2.
Table 1. Summary of geology in drill intercepts with visible chalcopyrite
Drill hole Depth
from (m)
Depth to
(m)
Approximate downhole
thickness (m)
Sulphides Summary description of geology
S25-001 18.4 22.4 4 py, po, sph, cpy Exoskarn with sulphide veins
29.5 32.5 3 py, po, sph, cpy Exoskarn and endoskarn with sulphide
36 51 15 mo Weak disseminated mo in endoskarn
S25-002 16 32 16 py, cpy Exoskarn with disseminated mt, py, cpy
32 34 2 py, cpy Stronger sulphide with py, cpy
36 50 14 mo Weak disseminated mo in endoskarn
51 54 3 py, cpy Bands of mt, py, cpy in exoskarn
69 71 2 py, cpy, po Exoskarn with disseminated py, cpy
71 88 17 mo Weak disseminated mo in endoskarn
96 98 2 py, cpy Endo and exoskarn, sulphides with mt
152 154 2 po, py, cpy, sph Exoskarn associated with mt
159 163 4 py, po, cpy Exoskarn with mt and green garnets
169 172 3 Py, po, cpy Exo and endoskarn with mt, green
garnets
S25-003 62 82 20 mo Weak disseminated mo in endoskarn
160 163 3 py, po, cpy, sph Sulphide vein in endoskarn with mt
208 211 3 py, cpy Sulphide veining in exoskarn with mt
395 396 1 po, py, cpy Exoskarn with garnets and mt
417 422 4 py, sph, cpy Endoskarn, disseminated sulphides
S25-004 176 177 1 po, py, sph, cpy Sulphide vein in exoskarn
186 194 8 py, po, cpy Sulphides in exo and endoskarn with mt
231 233 2 py, cpy Sulphide veins in exoskarn
238 255 17 py, po, cpy Sulphide veins in exoskarn with mt
366 371 5 py, po, cpy Sulphide veins in endoskarn
379 382 3 py, po, cpy Sulphide in exoskarn contact
385 386 1 py, cpy Sulphide vein with mt in exoskarn
400 401 1 py, cpy Sulphide vein with mt in exoskarn
Note to Table 1: Mt = magnetite. Cpy = chalcopyrite. Py = pyrite. Po = pyrrhotite. Mo = molybdenite. Sph = sphalerite.
Table 2. Details of Drill holes completed at Silvia NW Area A
Drill hole Easting Northing Elevation Azimuth (mag) Dip Total Depth (m)
S25-001 304354 8857384 4497 293 -55 257.1
S25-002 304355 8857383 4497 270 -70 258.7
S25-003 304379 8857468 4507 280 -80 447.3
S25-004 304417 8857388 4532 270 -75 438.5
Note: Coordinates are in WGS84-18S datum
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Figure 1. Geology map of Area A and B targets at Silvia NW with location of drill holes completed
Figure 2. Drill core photos
A. S25-001 (29.75 to 33.65 m) : Limestone altered to garnet exoskarn (pale brown-green colour) and later sulphide
(dark black) and carbonate veins (white).
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B. S25-002 (160.9 to 164.6 m) : Limestone (light grey, banded) cut by sulphide – magnetite vein (dark brown).
Sulphides include pyrite, chalcopyrite and minor pyrrhotite.
C. S25-003 (249.45 to 253.25 m) : Monzonite porphyry (grey) altered to garnet endoskarn (brown) and cut by late
carbonate-chlorite veins (white)
D. S25-004 (378.3 to 381.95 m): Limestone (light grey) cut by garnet skarn (brown) and in turn cut by sulphide-rich
vein with retrograde skarn alteration (dark green to black)
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On behalf of the Board,
“Graham Carman”
Dr. Graham Carman, President & CEO
Further Information:
www.tinkaresources.com
Tim McNulty 1.604.290.8100
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About Tinka Resources Limited
Tinka is an exploration and development company focused on base and precious metals projects in Peru. The Company’s
flagship property is the Ayawilca zinc-silver-tin project which has substantial mineral resources of zinc (with silver-lead
credits), the Colquipucro silver deposit and the Tin Zone in separate areas. The nearby Silvia gold-copper project is the
current focus of exploration drilling. The Company filed a NI 43-101 technical report on an updated PEA for the Ayawilca
Project 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 than
statements of historical fact, are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of
Tinka as well as assumptions made by and information currently available to Tinka's management. Such statements reflect the current
risks, uncertainties and assumptions related to certain factors including, without limitations: 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
recoveries; 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 support 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.
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