Tinka Announces C$5.0 Million Non-Brokered Private Placement
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November 20, 2024
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
TINKA ANNOUNCES C$5.0 MILLION NON-BROKERED PRIVATE PLACEMENT
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCQB: TKRFF) announces
a non-brokered private placement financing (the “ Offering”) of up to 50,000,000 units of the Company (the " Units") at a
price of C$0.10 per Unit (the “Issue Price”) for gross proceeds of up to C$ 5,000,000. Each Unit comprises one common
share (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to
purchase one additional Share of the Company at an exercise price of C$0. 15 for a period of eighteen (18) months from
closing of the Offering.
It is anticipated that c ertain insiders of the Company , including Nexa Resources S.A. and Compañia de Minas
Buenaventura SAA , will participate in the Offering to maintain their respective pro -rata interest in the Company . All
securities to be issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws
in Canada. Finder’s fees may be payable on a portion of the Offering. The Offering is subject to certain conditions
customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the
approval of the TSX Venture Exchange.
The Company plans to use the net proceeds to fund step-out and resource optimization drilling of approximately 4,000
metres at the East Ayawilca zinc-silver-lead area, for exploration at the Silvia copper-gold property, and for general working
capital and corporate purposes. See October 16, 2024 , news release for information regarding key exploration targets
proposed for 2024/25.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of an y of
the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been
and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or the
securities laws of any state of the United States and may not be offered or sold within the United States (as defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities
laws or pursuant to an exemption from such registration requirements.
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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T: 604.685.9316 [email protected]
TSXV & BVL: TK OTCQB: TKRFF
NEWS RELEASE
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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. The Zinc Zone at Ayawilca 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 an 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 Silver Zone has an estimated Inferred Mineral Resource of 1.0 Mt grading 111.4 g/t
silver, 1.54% zinc, & 0.5% lead. The Tin Zone has an estimated Indicated Mineral Resource of 1.4 million tonnes grading
0.72% tin and an 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 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 th an
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 and successful completion of the
Offering; the intended use of proceeds from the Offering; 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 relat ed to
negative publicity with respect to the Company or the mining industry in gen eral; 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 a ny 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 discl aims 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