Tinka Drills 5.7 Metres At 32.6% Zinc At Ayawilca

Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce assay results for two recent holes drilled at the Company’s 100%-owned Ayawilca Property in central Peru. Drilling is continuing with one rig operating at the South Ayawilca area, with the focus on expanding and upgrading the high-grade ‘Zinc Zone’ mineralization as defined in the Company’s recent Preliminary Economic Assessment (PEA).

Hole A19-163 intercepted two intervals of high grade zinc mineralization close to the margin of the current inferred resource. The hole intersected one of the highest grade intervals ever drilled at South Ayawilca.In addition, a new style of silver-rich mineralization with disseminated zinc - lead was intersected deeper in hole A19-163 within a down-faulted limestone more than 100 metres beneath the current resource, with mineralization remaining open to the west and at depth. The footprint of the mineralization at Ayawilca continues to expand, and still offers exciting exploration upside.

Key Highlights from hole A19-163:

Zinc Zone:

  • 34.7 metres grading 6.7% zinc, 11 g/t silver and 86 g/t indium from 171.0 metres, including

    • 5.7 metres grading 9.7% zinc, 12 g/t silver and 147 g/t indium from 199.1 metres; and

  • 5.7 metres grading 32.6% zinc, 20 g/t silver and 89 g/t indium from 228.0 metres; and

Lower Silver Zone:

  • 13.9metres grading 1.0% zinc, 0.6% lead and 128 g/t silver from 397.7 metres, including

    • 0.6 metres grading 5.4% zinc, 3.5% lead and 818 g/t silver from 397.7 metres depth.

Note: True thicknesses of the Zinc Zone intersections are estimated to be at least 85% of the downhole thicknesses. The true thickness of the Lower Silver Zone intersection cannot be determined at this time as insufficient data is available.

Recent drilling has significantly advanced the geological model and understanding of the geometry of the high grade zinc mineralization at the western end of South Ayawilca. The second hole reported here, A19-164, was drilled up-dip from hole A19-163 at a shallower angle (50 degree dip) to test for extensions of the existing zinc mineral resource but did not encounter mineralization. A19-164 is interpreted to have drilled into the roof zone of a hinge of an anticline fold, the core of which hosts very high grade mineralization in multiple lenses or ‘mantos’, including those intercepted in A19-163.

Dr. Graham Carman, Tinka’s President and CEO, stated: “The ongoing drill program at South Ayawilca is focused on the expansion and upgrading of high-grade resources in the Zinc Zone. We are excited that new drill holes like A19-163 continue to intersect exceptional zinc grades.The recently completed PEA shows that the project economics is sensitive to zinc grade, so expansions or upgrading of these higher grade zinc resources will have a positive impact on the project economics in future studies.”

“With the discovery of the Lower Silver Zone in hole A19-164, we have proven that mineralization exists within a deeper limestone at South Ayawilca, 100 to 150 metres beneath the existing resource, open to the west and at depth. The Lower Silver Zone so far consists of disseminated sulphides hosted in strongly altered limestone where the original rock has been almost completely replaced by iron - manganese carbonates, a style of mineralization and alteration that had previously been encountered only in vein form around the edges of the massive sulphide mineralization.Further drilling is planned for the Lower Silver Zone, including the deepening of a 2017 drill hole (A19-167) which is currently in progress.Holes A19-165 and 166 were recently completed and assays are pending.”

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