TINKA PROVIDES EXPLORATION UPDATE ON HUWAYMIDAN GOLD PROJECT IN SAUDI ARABIA INCLUDING COMPLETION OF 3,400-METRE RC DRILL PROGRAM Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) (TSXV: TK) (OTCQB: TKRFD) is pleased to
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January 12, 2025
TINKA PROVIDES EXPLORATION UPDATE ON HUWAYMIDAN GOLD PROJECT IN SAUDI ARABIA INCLUDING
COMPLETION OF 3,400-METRE RC 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 Huwaymidan gold property in Saudi Arabia. The Huwaymidan property
(“Huwaymidan” or the “ Project”) is owned by Midad Al Mona Mining Company (“ Midad”), a Saudi Arabian company of
which Tinka has a minority (5%) equity ownership. Tinka has a free-carried interest until mid 2027 and is responsible for
providing technical expertise and exploration leadership to the Project. Exploration on the ground is largely carried out by
third-party consultants and local contractors.
Key highlights:
Reconnaissance 3,400 metre drill program completed at Huwaymidan – A 46-hole reverse circulation (RC) drill
program was carried out in December 2025. The drill rigs have now demobilized, with assay results pending.
District-scale orogenic gold potential - The initial drill program targeted gold mineralization identified by selective
surface sampling at two target areas covering a potential gold trend of more than 5 kilometres.
High-grade gold in surface samples – Selective surface rocks graded up to 30.5 g/t gold in quartz float and up to
6.4 g/t gold in outcropping quartz veins. Refer to technical discussion for more details of rock sample results.
Significant zones of quartz veining and widespread hydrothermal alteration – Drilling intersected wide zones of
pervasive hydrothermal alteration and quartz veining, features consistent with a large orogenic gold system. Note
that no gold assays are available at this time.
Next steps – Assay results from the drilling are expected late Q1 2026. Subject to results, a follow-up drill program
is planned for Q2 2026.
Cautionary note: by their nature, surface samples represent selective samples and do not necessarily reflect the
overall grade of underlying mineralization.
Dr. Graham Carman, President and CEO of Tinka, stated: “The exploration program at Huwaymidan is advancing very well,
with encouraging surface results for gold and the completion of an initial 3,400 metre RC drill program within 6 months of
acquiring an interest in the property, thanks to the support of our local partner and our consultants. Huwaymidan is located
in a proven gold belt just 30 kilometres along trend of Maaden’s Ar Rjum project (3.9 Moz gold) and we believe Huwaymidan
has the potential to be a district-scale gold target. The aim of the reconnaissance drill program was to drill test the most
obvious surface gold occurrences on a wide-spaced drilling grid. We look forward to receiving gold assays soon, so that the
most promising areas for gold can be quickly followed up with additional work including more focused drilling.”
“The exploration programs at Huwaymidan are fully-funded by our local Saudi partner until mid 2027. The main focus of
Tinka’s exploration remains our 100% owned Ayawilca zinc-silver project, and our early exploration stage Silvia gold-copper
project in Peru.”
T: 604.685.9316 [email protected]
TSXV: TK OTCQB: TKRFD
NEWS RELEASE
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Technical Discussion
Exploration completed in 2025
Tinka acquired a minority stake in the Huwaymidan gold property in Saudi Arabia during July 2025 (see release dated August
19, 2025). The Project is located 300 km east of Jeddah and is close to excellent infrastructure including a major highway
and large town. The geology consists mostly of mafic volcanics and intrusions of Proterozoic age (~900–550 million years)
of the central Arabian Shield ( Figure 1). Several large orogenic-style gold deposits are known within the central Arabian
Shield, including Maaden’s Ar Rjum gold deposit (~3.9 Moz Au in resources) 30 km along trend to the southeast of
Huwaymidan, and the Mansourrah-Masarah gold mine (~7.5 Moz Au in resources) some 100 km to the east.
Exploration at the Huwaymidan Project (34 km 2) has progressed significantly during the second half of 2025. Systematic
geological mapping and sampling was conducted in September and October with more than 500 rock samples assayed for
gold and pathfinder elements. A 340 line-kilometre ground magnetic survey was acquired over the entire property in
October 2025. The results of this exploration have identified a 10-kilometre gold trend exposed discontinuously throughout
the Huwaymidan property, believed to be associated with a large district-scale orogenic-type gold system.
A reconnaissance RC drilling program commenced in late November 2025 and was completed by the end of December
2025. The drill program was designed to follow-up on encouraging gold assays from surface sampling. In total, 46 holes for
3,436 metres were drilled with two rigs operating. All holes were drilled at an angle of between 50 and 60 degrees on a grid
pattern, to an average downhole depth of 75 metres. Two areas were drill tested on ~250 metre-spaced drill lines covering
a combined trend of approximately 5 kilometres.
District-scale orogenic gold target
Gold mineralization along the Huwaymidan gold trend is associated with quartz veining and hydrothermal alteration of
andesite volcanic host rocks. Much of the Huwaymidan trend is covered by wind-blown sand on the flat-lying desert terrain.
Surface sampling of discontinuous outcrops of quartz veins as well as quartz float samples has defined two gold targets at
the Ibriz and Rawasi areas. Both areas were the focus of the initial 3,400-metre RC drilling program:
Ibriz: 2 km by 0.4 km area with abundant quartz ‘float’ grading up to 30.5 g/t gold (refer to Table 1).
Rawasi: 3 km by 0.4 km area with outcropping quartz veins with associated silica-hematite-pyrite alteration
grading up to 6.4 g/t gold.
Table 1. Summary of selective quartz vein samples collected at Huwaymidan in 2025 exploration activities
Target Sample
type
Number of
samples
Area covered
by sampling
Average
sample width
Mean
Au g/t
% of samples grading
> 0.10 g/t Au
Range of
gold values
Ibriz Float* 67 2 km x 0.4 km See note below 0.93
g/t Au *
28% <0.01 to
30.5 g/t Au
Rawasi Outcrop
rock chip
98 3 km x 0.4 km 3 m 0.35
g/t Au
55% <0.01 to 6.4
g/t Au
* Float samples are rock samples collected at surface not in their original bedrock position. Each float sample consisted of quartz vein
material collected over a radius of ~25 metres. Quartz float samples were collected on the edges of old trenches now filled with sand
– while these samples are displaced from their original position, they are thought to be within a few tens of metres from their source.
Cautionary note: by their nature, surface samples represent selective samples and do not necessarily reflect the
overall grade of underlying mineralization.
Background of Huwaymidan Project ownership
The Huwaymidan Project covers a licence area of 34 km 2 in the Mekkah region of central Saudi Arabia, approximately 300
km east of Jeddah. The Project was acquired by a mining consortium which included Tinka as principal technical partner
in Round 6 exploration licence auction held by the Ministry of Industry and Mineral Resources of Saudi Arabia (the
“Ministry”) in November 2024. The Ministry transferred the Huwaymidan concession to Midad Al Mona, a private Saudi
company, in July 2025. Tinka owns a 5% carried interest in Midad Al Mona while our Saudi partner owns 94%. The
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exploration and administration costs are fully covered by our Saudi partner for the first two years (up to ~C$3.3 M). Our
Saudi partner is a well respected and financed family-owned group with limited experience in mining and exploration. Tinka
is responsible for providing technical expertise and exploration leadership, and in overseeing the field programs to be
largely undertaken by 3 rd party consultants and local personnel. Consulting fees are paid to Tinka technical personnel, at
market rates, capped at US$250K over two years. Following the initial two-year period, Tinka may continue to hold its
interest via a renewed consulting agreement or by a funding arrangement.
Figure 1. Simplified Geology Map of the Saudi Arabian Shield and location of the Huwaymidan project
Data sources: Mineral Resource tables in Annual Reports for Maaden and Centamin (now AngloGold Ashanti) at Dec. 31, 2023.
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Note on assaying
Rock chip samples from Huwaymidan were sent to SGS Ankara for analysis for gold fire assay (30 g aliquot) and ICP
multielement analysis.
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) and tin in separate zones. 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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