Mr. Gordon Neal reports

TINCORP INTERSECTS 21.20 METRES GRADING 0.65% TIN INCLUDING 6.13 METRES GRADING 1.71% TIN AT THE PORVENIR PROJECT, BOLIVIA

Tincorp Metals Inc. has received the assay results for holes DPOV0002, DPOV0003, DPOV0004 and DPOV0006 from its Porvenir tin-zinc-silver project. Tincorp completed seven drill holes totalling 2,545 metres for its 2023 drill campaign at the project.

These four holes and the previously reported DPOV0001 were drilled to test the depth and lateral extension of the north-northwest-trending Condor Nasa structure (NWV1) and the north-south-trending mineralized structures (NSV1 and NSV2).

The assay results are highlighted by a 21.20-metre intercept grading 334 grams per tonne silver equivalent (0.65 per cent tin, 1.97 per cent zinc, four grams per tonne silver and 0.10 per cent copper) in hole DPOV0006, which includes 828 grams per tonne silver equivalent (1.71 per cent tin, 4.21 per cent zinc, seven grams per tonne silver and 0.16 per cent copper) over 6.13 metres. This represents the mineralization of the north-northwest-trending Condor Nasa structure.

In addition to the results of DPOV0006, the composite assay results are shown in the attached table.

Other than the high-grade interval in DPOV0006, DPOV0003 and DPOV0004 also drilled through NWV1, with DPOV0003 intersecting 36.72 metres of 113 grams per tonne silver equivalent (0.17 per cent tin, 0.92 per cent zinc, five grams per tonne silver and 0.08 per cent copper) and DPOV0004 intersecting 9.77 metres of 115 grams per tonne silver equivalent (0.08 per cent tin, 1.29 per cent zinc, 16 grams per tonne silver and 0.17 per cent copper).

The 10.18-metre high-grade interval in DPOV0002 (294 grams per tonne silver equivalent -- 0.25 per cent tin, 4.14 per cent zinc, 25 grams per tonne silver and 0.16 per cent copper) and 10.80-metre interval of DPOV0003 (361 grams per tonne silver equivalent -- 0.40 per cent tin, 4.43 per cent zinc, 20 grams per tonne silver and 0.21 per cent copper) are related to the north-south-extending vein, NSV1.

The 3.52-metre interval of 361 grams per tonne silver equivalent (0.72 per cent tin, 1.72 per cent zinc, nine grams per tonne silver and 0.11 per cent copper) in DPOV0003 is related to NSV2.

DPOV0002, DPOV0003 and DPOV0004 have intercepted multiple north-south-trending mineralized structures (NSV1 and NSV2), which has opened up new drilling targets to be tested in future drill programs at the project.

Mineralization in the holes occurs as sulphide and gangue minerals permeated in veins, veinlets and breccias. The sulphide minerals recognized to date are predominantly pyrite, pyrrhotite and sphalerite, with lesser amounts of galena, chalcopyrite and arsenopyrite. Sericite, siderite and quartz are the predominant gangue minerals, though they form a minor portion of the mineralized zone. The mineralization is hosted within a chlorite-sericite altered shale and argillite sequence of the Silurian-aged Llallagua formation.

"We are thrilled by the outstanding assay results from our recent drill campaign at the Porvenir project. I am excited to witness the continued success of Tincorp's exploration efforts. These results confirm our belief in the richness of the mineralization at Porvenir and reinforce our commitment to unlocking the full value of this remarkable asset," stated Gordon Neal, chief executive officer of Tincorp.

Quality assurance and quality control

Tincorp maintains tight sample security and quality assurance and quality control for all aspects of its exploration program. All Porvenir core samples were logged, photographed and split on site by staff geologists and were shipped in securely sealed bags by company staff in the company's vehicles directly from the field to ALS Bolivia Ltda. in Oruro, Bolivia, for preparation, and ALS Peru's laboratory in Lima, Peru, for geochemical analysis. ALS Global is an ISO 17025 accredited laboratory independent from New Pacific. All samples are first analyzed by a multielement ICP package (ALS code ME-MS41) with ore-grade-specified limits for silver, lead and zinc, further analyzed using ALS code OG46. The tin grades were analyzed by fusion XRF (X-ray fluorescence) (ALS code ME-XRF15b). Certified reference materials and various types of blank samples and duplicate samples are inserted into normal drill core sample sequences prior to delivery to the laboratory for preparation and analysis. The overall ratio of quality control samples in sample sequences is around 20 per cent.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Donald J. Birak, independent consultant geologist who is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Resources. The qualified person has visited the Porvenir property and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.

About Tincorp Metals Inc.

Tincorp is a mineral exploration company focusing on tin projects in Bolivia and a gold project near Whitehorse, Yukon, Canada. The company has signed agreements to acquire a 100-per-cent interest in the Porvenir project and the SF tin project, which are 70 kilometres southeast of Oruro, Bolivia. The company's 100-per-cent-owned Skukum gold project is approximately 84 kilometres south of Whitehorse by road. An independent mineral resource estimate update in respect of the Skukum gold project was completed in October, 2022.

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