Tinka Commences Ayawilca Resource Expansion Drill Program
TINKA COMMENCES AYAWILCA RESOURCE EXPANSION DRILL PROGRAM
Vancouver, Canada – Tinka Resources Limited ( “Tinka” o r t h e “Company”) (T S X V & B V L : T K) (OTCQB: TKRFF) is
pleased to announce that the Company has commenced a resource extension and exploration drill program at its 100%‐
owned Ayawilca project in Central Peru. The drill program will consist of up to 10,000 metres of drilling, initially with
one rig and increasing to two rigs by the end of August, with drilling expected to continue for the rest of 2022.
Ayawilca 2022 Drill Program
A key objective of the up to 10,000 metre drill program is to e xpand Zinc Zone Measured and Indicated resources at
South and West with infill and step‐out drilling, in part, thro ugh the conversion of higher grade Inferred resources. A
second objective is to expand the high grade resources at Central and West through the drill testing of possible lateral
extensions. Additional drilling will go towards metallurgical and geotechnical test work which, coupled with the
resource expansion drilling, will form the backbone of a future prefeasibility study. We expect the overall drill program
to consist of 25 to 30 drill holes over a period of approximately 6 months.
Metallurgical test work of the Ayawilca Tin Zone is ongoing. T he Tin Zone mineralization is dominated by cassiterite,
the most important ore mineral of tin, which is contained within iron sulphides. The current metallurgical test work is
focusing on separation of the iron sulphides (through grinding and flotation) and minimising tin loss prior to tin
concentration through gravity separation. Results of this test work are expected by August 2022.
Highlights of the Ayawilca project include:
High‐grade Zinc Zone resources: Indicated Mineral resource est imated at 19.0 million tonnes grading 7.2%
zinc, and Inferred resources estimated at 47.9 million tonnes g rading 5.4% zinc. Mineralization remains open
in several directions, including to the south and northeast;
Robust Zinc Zone 2021 PEA: Prelimi nary Economic Assessment (PEA) showed that Ayawilca has the potential
to become a Top‐10 global zinc mine with additional silver credits, strong economics and a modest initial capex;
Tin Zone upside: While not incorporated into the 2021 PEA the T in Zone has the potential to add significant
value to the project, with current Inferred resources estimated at 8.4 million tonnes grading 1.0% tin with
potential for expansion, open in all directions including at depth;
Exploration upside: Tinka has identified multiple exploration targets on its 160 km2 Ayawilca land package, and
has filed a permit extension at Ayawilca to drill high priority targets near to existing resources including the
Ayawilca Far South target.
Dr. Graham Carman, Tinka’s President and CEO, stated: “We are excited to commence our 2022 drill program within 2
weeks of the closing of a C$11 million private placement financ ing with Nexa and Buenaventura. The drill program is
designed to significantly improve the confidence of our high‐grade Zinc Zone resources, and to complete baseline work
which will be required for a future prefeasibility study. The drill program will initially focus on an exploration program
at Central Ayawilca, where we believe potential high grade zinc feeder structures may not have been fully tested in the
past. We look forward to announcing drill results as they are received, with first results expected by August.”
June 14, 2022
T: 604.685.9316 [email protected]
TSXV & BVL: TK OTCQB: TKRFF NEWS RELEASE
The Qualified Person, Dr. Graham Carman, Tinka’s President and CEO, and a Fellow of the Australasian Institute of
Mining and Metallurgy, has reviewed and verified the technical contents of this release.
On behalf of the Board,
“Graham Carman”
Dr. Graham Carman, President & CEO
Further Information:
www.tinkaresources.com
Mariana Bermudez 1.604.685.9316
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 Pe ru. The Zinc Zone deposit has a n estimated Indicated Mineral Resource of 19.0 Mt @
7.15% Zn, 16.8 g/t Ag & 0.2% Pb and Inferred Mineral Resource o f 47.9 Mt @ 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated
August 30, 2021 ‐ see news release ). The Ayawilca Tin Zone has an estimated Inferred Mineral Res ource of 8.4 Mt
grading 1.0% Sn. Tinka holds 46,000 hectares of mining claims in Central Peru, one of the largest holders of mining
claims in the belt. Tinka is actively exploring for copper‐gold skarn mineral deposits at its 100%‐owned Silvia project.
Forward Looking Statements: Certain information in this news re lease contains forward‐looking statements and forward‐looking
information within the meaning o f applicable securities laws (c ollectively "forward‐looking sta tements"). All statements, oth er
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; the Company’s expectations regarding 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
w i t h r e s p e ct t o t h e C o m p a n y o r t h e m i n i n g i n d u s t r y i n g e n e r a l ; t h e t h r e a t a s s o ci a t e d w i t h o u t b r e a k s o f v i r u s e s a n d i n f e ct i o u s
diseases, including the novel CO VID‐19 virus; delays in obtaini ng or failure to obtain necessary permits and approvals from lo cal
authorities; community agreements and relations; and, other dev elopment and operating risks. Should any one or more of these
risks or uncertainties materialize, or should any underlying as sumptions prove incorrect, actual results may vary materially f rom
those described herein. Although Tinka believes that assumptio ns inherent in the forward‐looking statements are reasonable,
forward‐looking statements are not guarantees of future perform ance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein. Except as m ay be required by applicable secur ities laws, Tinka disclaims a ny
intent or obligation to update any forward‐looking statement.
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accepts responsibility for the adequacy or accuracy of this news release