News

Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV: TK) (OTCPK: TKRFF) is pleased to announce assay results for three additional drill holes from the South Ayawilca zinc discovery in central Peru. Hole A17-096 intersected high-grade zinc mineralization in two intercepts of over 40 metres each, and is one of the best drill holes of this year’s 15,000 metre drill campaign. The zinc intercepts in A17-096 indicate continuity of the two high-grade zinc zones intersected in hole A17-056 (63.9 metres grading 5.6% zinc from 126 metres depth & 51.9 metres grading 10.1 % zinc from 242 metres depth) separated by 50 to 100 metres. Also at South Ayawilca, hole A17-093 intersected zinc-lead-silver mineralization in an infill hole between two holes separated by 250 metres (A17-075 and A17-078), and connects South Ayawilca with the Central Ayawilca resource zone. Hole A17-094 intercepted a narrow high-grade silver-zinc-lead zone in a 200 metre step out hole. Mineralization at South Ayawilca remains open to the southeast, east and south.

Two drill rigs continue to turn at South Ayawilca. Drill data for a zinc resource update is being finalized, with the new resource expected by early November. Drilling is planned to continue until December, testing new targets and continuing with step out holes at South Ayawilca.

Key Highlights of the latest South Ayawilca drill holes

Hole A17-096:

• 45.5 metres at 7.8 % zinc & 111 g/t indium from 241.5 metres depth, including
  • 10.6 metres at 15.5 % zinc & 320 g/t indium from 250.8 metres depth; and
• 3.8 metres at 8.3 % zinc & 82 g/t indium from 304.8 metres depth; and
• 40.8 metres at 9.4 % zinc, 15 g/t silver & 145 g/t indium from 315.2 metres depth, including
  • 5.0 metres at 17.2 % zinc, 28 g/t silver & 591 g/t indium from 319.0 metres depth, and
  • 11.9 metres at 17.4 % zinc, 20 g/t silver & 80 g/t indium from 342.6 metres depth;

Hole A17-094:

• 1.2 metres at 1.6 % zinc, 2.1 % lead & 193 g/t silver from 394.0 metres depth;

Hole A17-093:

• 9.0 metres** at 2.7 % zinc, 0.7 % lead & 51 g/t silver from 382.0 metres depth, including
  • 2.7 metres at 6.8 % zinc, 1.1 % lead & 108 g/t silver from 388.3 metres depth;
    (** includes 1.3 metres of no recovery assumed zero grade)

Dr. Graham Carman, Tinka´s President and CEO, stated: “We are thrilled with the intersections in hole A17-096 as they confirm the continuity of thick and high-grade zinc mineralization previously encountered in hole A17-056. South Ayawilca continues to surprise us with its high zinc grades. As we enter the final quarter of 2017, our busiest year at the project with more than 15,000 metres drilled to date, we look forward to updating our resource estimate by November. In addition, tin assays are being compiled and will be released once our geological interpretations are completed. Also, closed-cycle metallurgical flotation tests for zinc composite samples from South, West, and Central Ayawilca are in progress with results expected before year end.”

Drill progress

Six drill holes from South and Central Ayawilca have assays pending or are in progress (A17-095 and A17-097, 098, 099, 100, 101). Approximately five additional holes are planned at South and Central Ayawilca this year. Assays are also pending for two holes from the Valley area (A17-090 and 092). See Table 1 for a summary of all significant zinc (lead, indium, silver) intercepts in the 2017 drill program to date. Maps attached are:

Figure 1 - Ayawilca drill hole location map.
Figure 2 - Longitudinal section of South Ayawilca showing hole A17-096.

Figure 1. Ayawilca 2017 drill hole location map with 2016 Zinc Mineral Resource boundaries

Figure 2. Interpretive Section Y-Y’ (see Fig. 1) showing hole A17-096

True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in footnotes to Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text. Table 2 summarizes all drill collar information to date.

NI 43-101 Technical Report:

On June 29, 2016, Tinka filed an independent National Instrument 43-101 Technical Report (the “NI 43-101 Technical Report”) on the Mineral Resource Estimate for the Ayawilca Property, Department of Pasco, Peru in support of the Company’s news release dated May 25, 2016. The NI 43-101 Technical Report was authored by Mr. David Ross. P.Geo., of Roscoe Postle Associates Inc., who is an independent “qualified person” as defined by National Instrument 43-101. The NI 43-101 Technical Report may be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.tinkaresources.com

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.

Table 1. Summary of 2017 Drill Results from Ayawilca by Area and Date of Release

Notes on sampling and assaying

Drill holes are diamond HQ or NQ size core holes with recoveries generally above 80% and often close to 100%. The drill core is marked up, logged, and photographed on site. The cores are cut in half at the Company’s core storage facility, with half-cores stored as a future reference. Half-core is bagged on average over 1 to 2 metre composite intervals and sent to ALS or SGS laboratories in Lima for assay in batches. Standards and blanks are inserted into each batch prior to departure from Tinka’s core storage facilities. At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper and over 100 g/t silver are re-assayed using precise ore-grade AAS techniques.

Table 2. Summary of Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)

About Tinka Resources Limited

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver (May 25, 2016). A significant resource expansion drill program began in February 2017 and is ongoing.

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, drilling results, the Company’s expectations regarding mineral resource calculations, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets, 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, operating performance, environmental and safety risks, 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.

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