Dr. Graham Carman reports

TINKA ANNOUNCES EXTENSION OF NON-BROKERED UNIT PRIVATE PLACEMENT FINANCING

Following the closing of the first tranche of Tinka Resources Ltd.'s non-brokered private placement financing of units, the TSX Venture Exchange has agreed to extend the closing of the offering to on or before Feb. 4, 2025.

As previously announced by the company on Nov. 20, 2024, the offering consists of up to 50 million units at a price of 10 cents per unit for gross proceeds of up to $5-million. Each unit comprises one common share and one-half common share purchase warrant. Each warrant entitles the holder to purchase one additional share of the company at an exercise price of 15 cents for a period of 18 months from closing of the offering. Securities issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period. The offering is subject to the final approval of the TSX-V.

Pursuant to the closing of the first tranche on Dec. 17, 2024, the company issued 17,392,958 units at a price of 10 cents per unit for gross proceeds of $1,739,296. All securities issued in connection with the first tranche are subject to a statutory four-month hold period, expiring on April 18, 2025.

The company plans to use the net proceeds from the offering to finance stepout 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 Oct. 16, 2024, news release for information regarding key exploration targets proposed for 2024/2025.

About Tinka Resources Ltd.

Tinka is an exploration and development company, with its flagship property being the 100-per-cent-owned Ayawilca zinc-silver-tin project in central Peru. The zinc zone at Ayawilca has an estimated indicated mineral resource of 28.3 million tonnes grading 5.82 per cent zinc, 16.4 grams per tonne silver, 0.2 per cent lead and 91 g/t indium, and an inferred mineral resource of 31.2 million tonnes grading 4.21 per cent zinc, 14.5 g/t silver, 0.2 per cent lead and 45 g/t indium. The silver zone has an estimated inferred mineral resource of one million tonnes grading 111.4 g/t silver, 1.54 per cent zinc and 0.5 per cent lead. The tin zone has an estimated indicated mineral resource of 1.4 million tonnes grading 0.72 per cent tin, and an inferred mineral resource of 12.7 million tonnes grading 0.76 per cent tin. The company filed a National Instrument 43-101 technical report on an updated preliminary economic assessment for the Ayawilca project on April 15, 2024.

Dr. Graham Carman, Tinka's president and chief executive officer, 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 NI 43-101.

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