Dr. Graham Carman reports

TINKA ACQUIRES MINORITY STAKE IN GOLD EXPLORATION PROPERTY IN SAUDI ARABIA

Tinka Resources Ltd. has acquired, through its 100-per-cent-owned subsidiary, Tinka Saudi Resources Corp., a minority stake in a mineral exploration property in Saudi Arabia prospective for gold deposits. The concession over the property, known as Huwaymidan, was acquired as the result of a successful competitive tender by a mining consortium including Tinka in the round 6 exploration licence auction held by the Ministry of Industry and Mineral Resources of Saudi Arabia in November, 2024. The ministry granted a concession over the property to Midad Al Mona Mining Company, a newly established Saudi Arabian company, in late July, 2025. Tinka now owns a 5-per-cent carried interest in Midad Al Mona while its Saudi Arabian partner owns 94 per cent. Midad Al Mona will be fully financed and capitalized by Tinka's Saudi partner for the first two years of the exploration program.

Huwaymidan covers an area of 34 square kilometres (km) in the Jiddah terrane of the Saudi Arabian shield. Numerous gold workings are known, while no mineral resources have been defined. Past trench sampling results include 10 grams per tonne (g/t) gold (Au) over 2.5 metres (m) within a much wider clay-silica alteration zone with gold anomalism and a mapped strike of one km. Fieldwork will commence in September, 2025, with a program of mapping, rock sampling and ground-based geophysics (magnetics). An initial shallow drill program is planned for late 2025 and no additional permitting is required to allow drilling.

Key highlights of the Huwaymidan property acquisition:

• Huwaymidan is situated 300 km east of the Red Sea city of Jeddah in central Saudi Arabia, an area with excellent road access.
• The property has historical gold workings (surface trench results up to 2.5 m at 10 g/t Au) yet to be tested by modern exploration. There is no past drilling recorded. Much of the area is covered by shallow sand.
• The property is located in an underexplored region of the Precambrian-age Arabian shield prospective for orogenic gold. Deposits in the region include Ar Rjum (approximately 3.9 million ounces (oz) Au) just 30 km from Huwaymidan and the Mansourrah-Masarah gold mines (approximately 7.5 million oz Au), operated by Maaden, approximately 100 km from the property.
• Midad Al Mona will be financed and capitalized by Kalimat Al Hikma, Tinka's Saudi partner, a private company, to undertake the anticipated exploration programs in 2025 and 2026.
• Tinka will provide exploration expertise and technical leadership to Midad Al Mona, and will be paid consulting fees for all services provided.
• Tinka holds a 5-per-cent carried interest for the first two years. Afterward, Tinka may continue to hold its interest by negotiating a renewed consulting agreement or via a financing arrangement.

Dr. Graham Carman, Tinka's president and chief executive officer, stated: "This new venture in Saudi Arabia is an exciting opportunity for our company. Our Saudi partner is a well-funded and well-respected family-run company based out of Jeddah. The project company will be funded and capitalized by our Saudi partner for at least the first two years, with Tinka providing exploration leadership and project oversight. Not only is there no upfront funding required by Tinka, but we will be paid for all services provided."

Dr. Carman continued: "Tinka gains critical access through this relationship to exploration and capital market opportunities in the Middle East. This is a huge capital market, which has started to diversify investments from hydrocarbon industries into new opportunities, including in the mining sector. Importantly, the Saudi venture will not detract from our focus in Peru. On-ground activities in Saudi will largely be supervised by third party geological consultants and locally sourced personnel."

The Huwaymidan gold property

Background

Huwaymidan was awarded to the Midad Al Mona-Tinka consortium on Nov. 24, 2024, following a competitive tender process under exploration licencing round 6 by the Saudi government. A concession over the property was granted to Midad Al Mona in late July, 2025, covering 34 square km. The ownership of Midad Al Mona is: Kalimat Al Hikma, 94 per cent (a local company); Tinka Saudi Resources Corp., 5 per cent; and Orthosa Pty. Ltd., 1 per cent (a private Australian exploration consulting company not related to Tinka). Tinka is responsible for providing technical expertise and exploration leadership to Midad Al Mona, and in overseeing the field program to be largely undertaken by third party consultants and local personnel. The Saudi partner will cover sufficient financing and capitalization for the first two years.

Geology

Huwaymidan is located 300 km east of Jeddah in the Jiddah terrane. The property is prospective for orogenic gold deposits hosted by Precambrian mafic volcanic and intrusive igneous rocks associated with shear zones. Past exploration data are limited to surface sampling for gold associated with old workings. Geochemical data from historic trenches returned results up to 2.5 m grading 10 g/t gold within a zone of hydrothermal clay-silica alteration with iron oxides up to 200 metres wide and one km in strike length (northwest-southeast). A reconnaissance field trip in January, 2025, confirmed this zone of alteration in trench debris (with trenches largely infilled with recent sand) with check samples grading up to six g/t Au.

Regionally, the Arabian shield is composed of Proterozoic (approximately 900 million to 550 million years old) igneous and sedimentary rocks. Several large gold deposits are currently in operation within the Arabian shield in Saudi Arabia and the Nubian shield across the Red Sea in Egypt (including the world-class Sukari mine -- more than 10 million oz gold). The Huwaymidan property lies within the Ash Shakhtaliyat belt, consisting mostly of mafic volcanics and intrusive rocks. The Ar Rjum gold deposit (3.9 million oz Au) lies within the same belt 30 km to the southeast of the property. The Mansourrah-Masarah gold mines (approximately 7.5 million oz Au) are located approximately 100 km to the east. Gold mineralization in these deposits is generally associated with shear zones and quartz veining hosted either in volcanic or intrusive rocks. The Jabal Sayid copper mine is a volcanogenic massive sulphide deposit approximately 150 km to the north-northwest of the property.

Key deal terms:

• Tinka to have 5-per-cent carried ownership of Midad Al Mona for the first two years;
• Exploration to focus on the Huwaymidan property for gold. All exploration and administration costs to be covered by Tinka's Saudi partner for the first two years (up to approximately $2.3-million (Canadian));
• Tinka to provide exploration leadership to Midad Al Mona with Dr. Carman as technical director;
• Consulting fees to be paid to Tinka technical personnel, at market rates, capped at $250,000 (U.S.) over two years;
• Certain KPIs (key performance indicators) to be met by Tinka during the first two years in order to retain an interest in Huwaymidan, including the successful execution of a drill program;
• Following the initial two-year period, Tinka may continue to hold its interest via a renewed consulting agreement or by a financing arrangement;
• All shareholders to be locked in for the first two years, a period when shareholders are unable to sell, transfer or otherwise dispose of their shares or their interest in Midad Al Mona.

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, and is also exploring the nearby Silvia copper-gold project. Mineral resources at Ayawilca include the zinc zone, which has an estimated indicated mineral resource of 28.3 million tonnes (t) grading 5.8 per cent zinc, 16.4 g/t silver, 0.2 per cent lead and 91 g/t indium, and an inferred mineral resource of 31.2 million t grading 4.2 per cent zinc, 14.5 g/t silver, 0.2 per cent lead and 45 g/t indium. The tin zone at Ayawilca 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 t grading 0.76 per cent tin. The company filed a National Instrument 43-101 technical report on an updated PEA (preliminary economic assessment) for the Ayawilca project on April 15, 2024.

Dr. Carman has reviewed, verified and approved the technical contents of this news release. Dr. Carman is a fellow of the Australasian Institute of Mining and Metallurgy, and is a qualified person as defined by National Instrument 43-101.

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