Vancouver, British Columbia--(Newsfile Corp. - November 12, 2026) - Tinka Resources Limited (TSXV: TK) (OTCQX: TKRFF) ("Tinka" or the "Company") is pleased to provide an update on activities at the Ayawilca polymetallic project in Peru ("Ayawilca" or "the project").

Key Highlights:

• Tinka has signed an agreement with the San Pedro de Pillao community ("Pillao") covering 170 hectares of community land overlying the Colquipucro deposit, a key area of silver mineralization within the Ayawilca project.

• Following constructive dialogue, Tinka and Pillao have agreed to work collaboratively to facilitate the execution of exploration and other technical studies at Colquipucro.

• The agreement has a three-year term, commencing when Tinka initiates exploration activities at Colquipucro. Tinka has also committed to provide opportunities for the community stakeholders, including local employment and potential collaborative investment initiatives.

Dr. Graham Carman, President and CEO of Tinka, stated: "We thank the San Pedro de Pillao community for its confidence in Tinka and for reaching this agreement, which represents and important step in establishing a framework for future exploration and technical work at Colquipucro. We are committed to building constructive, long-term relationships with our local communities and we look forward to working collaboratively with Pillao as the project advances."

"Meanwhile, work on the previously announced PEA update is progressing well (news release October 15, 2026). The study is evaluating the potential for an integrated development approach, commencing with Colquipucro and followed by the Ayawilca polymetallic deposit. We remain on track to announce the results of the PEA update by early Q1 2027."

About Tinka Resources Limited
Tinka is an exploration and development company focused on base and precious metals projects in Peru. The Company's flagship property is the Ayawilca project which has substantial mineral resources of zinc and silver, a separate tin resource, and the near-surface Colquipucro silver deposit. The nearby Silvia NW copper-gold project is a skarn and porphyry target. The Company filed a NI 43-101 technical report¹ on an updated PEA for the Ayawilca Project on April 15, 2024 (link to NI 43-101 report here).

Qualified Person
Dr. Graham Carman, FAusIMM, President and CEO of Tinka, is a Qualified Person as defined by NI 43-101 and is not independent of the Company. Dr. Carman has reviewed and approved the scientific and technical information in this news release. He verified the data disclosed by reviewing the drill hole database, assay certificates and QA/QC results underlying the Colquipucro Mineral Resource Estimate and the 2025 relogging data. Data verification for the Mineral Resource Estimates is described in the Technical Report. 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.

^1. The NI 43‐101 Technical Report was prepared by independent consulting firm SRK Consulting (UK), as principal consultants, with contributions from other independent Qualified Persons (as the term is defined in NI 43‐101) with specific subject matter expertise including: SLR Consulting (Canada) Ltd. for mineral resource estimation; Transmin Metallurgical Consultants (UK) for processing, metallurgical and recovery inputs; MineFill Services (Seattle) for mine backfill inputs; and Cen-tail (formerly Envis Peru) for processing and costs for surface tailings storage. The Technical Report may be found under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.tinkaresources.com. The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty the PEA will be realized.

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: timing of planned work programs and results varying from expectations; delay in obtaining results; 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 and operating performance; environmental and safety risks; the Company's ability to realize the results of the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323681