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Tinka Resources Ltd
Symbol	TK
Shares Issued	211,995,022
Close 2017-11-02	C$ 0.71
Market Cap	C$ 150,516,466
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Tinka Resources drills 13 m of 1.57% Sn at Ayawilca

2017-11-03 07:23 ET - News Release

Dr. Graham Carman reports

TINKA DRILLS 13 METRES GRADING 1.6 % TIN AT SOUTH AYAWILCA

Tinka Resources Ltd. has released tin assay results for eight drill holes from the South Ayawilca zinc discovery area in central Peru (zinc intercepts from these holes were previously reported earlier in 2017). Tin mineralization at Ayawilca is predominantly in the form of cassiterite (SnO2), disseminated in flat-lying massive to semi-massive pyrrhotite mantos which are physically separated from the zinc zones. Tin at South Ayawilca connects and expands the known tin mineralization at Central Ayawilca, which includes drill intercepts of 50.5 metres grading 1.23 per cent tin and 0.16 per cent copper in hole A15-040, and 50.0 metres grading 0.52 per cent tin and 0.25 per cent copper in A15-039 (news releases Oct. 13, 2015, and Sept. 29, 2015).

Assays for four new zinc drill hole intercepts are also reported below. An updated zinc and tin resource estimate is expected shortly, with results for all the holes to be included in the resource update now reported (up to hole A17-098). Two drill rigs continue to test new targets at Ayawilca -- current holes are A17-105 and A17-091A (Valley and zone 3 areas, respectively) with several more holes planned before the end of the year.

Key highlights of tin intercepts at South Ayawilca

Hole A17-063:

13.0 metres at 1.57 per cent tin from 273.0 m depth, including 4.0 metres at 2.82 per cent tin from 275.0 m depth;
5.5 metres at 1.22 per cent tin, 0.22 per cent copper and 16 g/t silver from 369.0 m depth, including 1.1 metres at 3.72 per cent tin, 0.81 per cent copper and 32 grams per tonne silver from 373.4 m depth.

Hole A17-069:

39.0 metres at 0.37 per cent tin from 206 m depth.

Hole A17-070:

16.7 metres at 0.51 per cent tin from 285.0 m depth, including 3.3 metres at 1.45 per cent tin from 286.7 m depth, and 2.0 metres at 2.16 per cent tin from 348.0 m depth, and 2.0 metres at 1.42 per cent tin, 0.56 per cent copper and 75 g/t silver from 362 m depth.

Hole A17-56:

15.1 metres at 0.56 per cent tin from 212.0 m depth, including 3.95 metres at 1.07 per cent tin from 217.35 m depth.

Note

A cut-off of 0.2 per cent tin over six metres has been applied.

Dr. Graham Carman, Tinka's president and chief executive officer, stated: "Tinka is focusing on realizing the potential of the extensive high-grade zinc mineralization at Ayawilca. However, we believe the project also offers additional upside for other commodities, especially for tin, which occurs in separate mineralized bodies to the zinc. Tin intercepts reported here from South Ayawilca are believed to connect with the Central Ayawilca tin resource, extending the footprint of the tin mineralization by several hundred metres. Tin is currently trading at about six times the price of zinc, and about three times the price of copper on the London Metals Exchange, so these tin intercepts are potentially significant to the project. We look forward to updating our zinc and tin resources very shortly, which will include the 2017 South Ayawilca discovery."

Zinc assays for four new drill holes from the Ayawilca South and Valley zones are also reported here, with all holes intersecting significant zinc mineralization. Two holes drilled at the Valley area targeted previously untested magnetic anomalies. Results have confirmed the presence of zinc mineralization at or near the base of the host carbonate sequence. Two holes tested extensions of South Ayawilca (A17-095 and 098).

Highlights of new zinc intercepts at Ayawilca

Hole A17-090 (Valley area):

1.5 metres at 6.6 per cent zinc, 0.5 per cent lead and 13 g/t silver from 132.6 m depth.

Hole A17-092 (Valley area):

11.7 metres at 3.2 per cent zinc, 0.2 per cent lead and 32 g/t silver from 241.8 m depth.

Hole A17-095 (South Ayawilca):

1.8 metres at 14.8 per cent zinc, 0.1 per cent lead and 48 g/t silver from 52.2 m depth, and 2.0 metres at 7.2 per cent zinc, 0.6 per cent lead, 163 g/t silver and 146 g/t indium from 101.7 m depth.

Hole A17-098 (South Ayawilca):

3.4 metres at 4.3 per cent zinc and 18 g/t silver from 230.6 m depth, and 3.7 metres at 4.3 per cent zinc and 11 g/t silver from 238.6 m depth.

Dr. Carman continued: "Drill results from the Valley area, about one kilometre north of the Ayawilca zinc zone resources, indicate that the Ayawilca zinc system is very large and has significant potential to grow. We plan to continue drill testing for new zinc discoveries even as an updated resource estimate is being finalized. This strategy allows Tinka to pursue the blue-sky potential of Ayawilca, while simultaneously working towards derisking the known resources."

Drill progress

Seven drill holes from South and Central Ayawilca have assays pending (A17-097, 099 to 104). Two holes are currently in progress at zone 3 (A17-091A) and Valley (A17-105).

True thicknesses of the zinc and tin intersections are estimated to be at least 85 per cent of the downhole thickness, except where otherwise noted in footnotes to the associated tables. All significant zinc (lead, silver, indium) intercepts of the 2017 program are summarized in the associated table with the strongest intercepts in bold text in the tables on the company's website. Significant tin (copper, silver) intercepts of the 2017 program are summarized in the associated table.

National Instrument 43-101 technical report

On June 29, 2016, Tinka filed an independent National Instrument 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 David Ross, PGeo, 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 and on the company's website.

The qualified person, Dr. Carman, a fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.


Drill hole           From No.                   (m)

A17-056 (1)         90.30 and                113.00 and                126.00 including          127.50 including          127.50 and                199.20 and                228.50 and                242.00 including          279.00 including          279.00 A17-056A           286.50 and                309.00 including          310.50 A17-057             84.90 and                143.70

Drill hole           From No.                   (m)

and                157.60 including          168.20 and                227.15 and                264.00 including          265.75 including          272.50 A17-058            103.50 and                133.25 A17-058 A17-059             50.30 58.00 A17-060            262.40 and                275.00 and                298.00 including          303.40 A17-061            122.70 including          145.70 and                184.00 including          196.20 including          201.90 and                220.00 including          224.10 and                265.00 A17-062            152.40 A17-062 A17-063            302.20 including          303.30 including          327.40 A17-064            269.90 and                277.20 A17-065            119.00 and                204.00 and                219.50 including          236.20 and                266.40 and                307.30 and                340.00 A17-066            185.20 and                330.90 and                345.00 A17-067            256.40 A17-068            343.55 and                382.00 A17-069            182.00 and                261.60 and                271.40 including          287.30 A17-070            100.00 and                306.80 and                317.50 including          340.00 including          340.00 A17-071            327.20 including          332.40 A17-072            104.80 and                294.50 including          302.00

Drill hole           From No.                   (m)

A17-073 A17-074             71.40 and                148.00 A17-075 including          376.30 A17-076            196.70 and                264.00 and                368.00 A17-077            265.10 and                337.30 and                348.60 A17-078            190.00 and                400.10 A17-079            209.30 and                254.40 and                273.25 including          304.00 A17-080            171.70 and                291.30 including          304.70 A17-081 A17-082 A17-083             81.60 and                175.80 and                268.00 A17-084 A17-085            100.00 and                292.30 and                303.10 A17-086 A17-087            133.50 and                148.00 and                242.00 and                262.90 A17-088 A17-089            218.60 including          218.60 including          222.50 and                241.00 including          245.70 including          249.40 A17-090            132.60 A17-091 A17-092            241.80 A17-093            331.50 and including          388.30 A17-094            394.00 A17-095             52.20 and                101.70 A17-096            241.50 including          250.80 and                298.40 and                304.80 and                315.20 including          319.00 including          342.60

Drill hole           From No.                   (m)

A17-098            230.60 and                238.60

(1) Hole lost at (2) Includes 0.6 given a zero grade. (3) Includes 3.1 given a zero grade. (4) Includes a silver 16,490 g/t Ag, 7.0 per cent Zn (5) High-grade vein (6) Includes 4.3 (7) Includes 1.7 (8) Includes 1.3 Note: Assays are six metres.

Drill hole        From No.                (m)

A17-056         212.00    227.10 including       217.35    221.30 A17-057         202.29    225.74 A17-063         273.00    286.00 including       275.00    279.00 and             369.00    374.50 including       373.40    374.50 A17-065         348.00    352.00 A17-068         380.00    388.00 A17-069         206.00    245.00 A17-070         269.20    274.00 and             285.00    301.70 including       286.70    290.00 and             348.00    350.00 and             356.80    358.60 and             362.00    364.00 A17-075         376.30    379.80

Note Assays are calculated over six metres

SUMMARY OF SIGNIFICANT ZINC (LEAD, SILVER, INDIUM) INTERCEPTS FOR AYAWILCA DRILL PROGRAM 2017 To Interval Zn Pb Ag Indium (m) (m) (%) (%) (g/t) (g/t) 90.65 0.35 29.0 0.4 82 443 113.40 0.40 31.2 0.0 85 759 189.90 63.90 5.6 0.1 17 29 145.40 17.90 11.6 0.2 36 20 133.30 5.80 22.5 0.3 77 50 204.70 5.50 5.8 0.1 6 38 233.70 5.20 12.9 0.0 11 162 293.90 51.90 10.1 0.1 62 (4) 233 293.90 14.90 20.6 0.2 152 (4) 441 285.40 6.40 37.5 0.4 301 916 296.00 9.50 9.3 0.3 19 88 313.10 4.10 18.6 0.1 27 224 313.10 2.60 27.3 0.1 38 336 86.35 1.45 24.8 0.0 62 157 144.50 0.80 40.4 0.1 138 261 To Interval Zn Pb Ag Indium (m) (m) (%) (%) (g/t) (g/t) 197.70 40.10 9.1 0.2 22 168 177.80 9.60 16.8 0.1 22 299 234.90 7.75 3.5 0.2 21 85 279.30 15.30 20.0 2.5 102 263 269.00 3.25 34.5 2.1 96 196 277.70 5.20 32.5 1.3 69 639 107.70 4.20 5 20.2 4.2 329 (4) 15 134.35 1.10 5 30.3 3.2 500 61 did not reach target, lost at 301 metres in sandstone 51.10 0.80 37.5 0.5 69 70 60.00 2.00 6.3 0.0 12 30 264.40 2.00 14.8 0.0 35 1,178 279.50 4.50 15.0 0.0 20 383 328.50 30.52 3.4 0.2 10 38 312.00 8.60 5.1 0.1 11 6 150.50 27.80 4.4 0.1 18 24 147.50 1.80 (5) 27.2 0.0 32 157 202.60 18.60 (3) 10.4 0.5 52 59 198.80 2.60 23.6 2.4 192 19 202.60 0.70 28.7 3.6 202 41 233.40 13.40 18.7 0.9 57 463 230.00 7.90 29.3 0.8 71 719 266.80 1.80 37.0 0.2 85 808 153.05 0.65 (5) 33.6 0.3 166 42 was lost prior to target depth in a fault zone at 313 metres 349.90 47.70 11.3 0.0 18 313 313.10 9.80 17.4 0.0 28 587 339.60 12.20 17.1 0.0 26 495 270.40 0.50 15.6 0.0 11 304 277.60 0.40 14.5 0.0 17 39 119.75 0.75 36.6 0.1 88 157 210.00 6.00 4.0 0.0 4 9 238.80 19.30 4.7 0.0 7 93 238.80 2.60 20.6 0.0 23 529 293.00 26.60 3.6 0.0 4 46 332.00 24.70 3.8 0.0 5 51 346.00 6.00 2.6 0.1 7 16 185.50 0.30 37.8 0.0 40 1,330 334.40 3.50 7.4 0.1 24 111 350.00 5.00 11.3 0.1 37 270 265.00 8.60 2.7 0.2 39 0 344.30 0.75 6.1 11.6 210 7 388.00 6.00 4.0 0.1 46 47 190.00 8.00 3.0 0.5 13 17 262.30 0.70 17.8 0.0 14 73 300.70 29.30 10.4 0.1 17 278 299.40 12.10 19.1 0.1 25 440 105.10 5.10 6.3 0.6 127 82 308.40 1.60 15.4 0.1 40 529 356.80 39.30 (6) 7.1 0.1 13 100 356.80 16.80 12.9 0.1 19 183 348.00 8.00 20.9 0.1 19 265 350.00 22.80 8.4 0.8 35 17 345.00 12.60 11.6 0.9 35 30 105.60 0.80 27.0 0.3 73 125 306.00 11.50 2.9 2.3 781 0 304.00 2.00 5.6 5.5 3,167 0 To Interval Zn Pb Ag Indium (m) (m) (%) (%) (g/t) (g/t) no significant results 73.60 2.20 (5) 31.0 0.1 138 23 148.70 0.70 (5) 18.3 0.3 38 0 359.00 379.8 (7) 20.80 5.0 0.0 11 44 379.80 3.50 10.2 0.0 17 96 199.50 2.80 4.5 0.4 54 43 269.90 5.90 1.2 1.0 58 0 373.70 5.70 2.4 1.9 55 0 268.00 2.90 2.9 2.8 84 0 339.60 2.30 9.2 0.0 11 79 359.60 11.00 2.6 0.7 86 1 191.20 1.20 8.9 0.3 380 32 404.40 4.30 7.8 0.1 4 57 225.15 15.85 2.4 1.2 25 0 270.00 15.60 2.4 0.1 5 16 309.50 36.25 5.2 0.2 10 65 309.50 5.50 12.5 0.0 8 103 174.00 2.30 3.5 2.2 58 0 306.50 15.20 6.0 0.0 7 184 306.50 1.80 28.4 0.0 34 1,400 no significant results not sampled -- did notreach target depth 84.50 2.90 8.0 0.6 61 133 178.70 2.90 2.9 1.3 46 0 278.20 10.20 3.0 0.7 15 3 no significant results 102.00 2.00 8.3 0.0 10 28 294.10 1.80 9.6 0.1 4 2 305.50 2.40 14.3 0.2 18 20 no significant results 134.40 0.90 9.6 0.1 472 15 150.00 2.00 3.9 0.1 166 9 242.80 0.80 7.4 3.3 607 26 264.55 1.65 5.4 0.2 84 1 no significant results 229.40 10.80 16.7 0.0 33 681 220.40 1.80 35.9 0.0 40 1,248 225.20 2.70 33.6 0.1 68 1,800 250.20 9.20 7.9 0.0 18 60 246.80 1.10 25.7 0.1 49 355 250.20 0.80 35.6 0.1 51 103 134.10 1.50 6.6 0.5 13 5 hole currently being redrilled 253.50 11.70 3.17 0.2 32 44 336.00 4.50 1.4 1.2 59 3 382.00 391.00 (8) 9.00 2.7 0.7 51 13 391.00 2.70 6.8 1.1 108 26 395.20 1.20 1.6 2.1 193 0 54.00 1.80 14.8 0.1 48 40 103.70 2.00 7.2 0.6 163 146 287.00 45.50 7.8 0.0 8 111 261.40 10.60 15.5 0.1 23 320 300.10 1.70 7.3 0.0 7 46 308.60 3.80 8.3 0.0 6 82 356.00 40.80 9.4 0.1 15 145 324.00 5.00 17.2 0.0 28 591 354.50 11.90 17.4 0.1 20 80 To Interval Zn Pb Ag Indium (m) (m) (%) (%) (g/t) (g/t) 234.00 3.40 4.3 0.0 18 43 242.30 3.70 4.3 0.0 11 21 293.9 metres; wedged and completed as A17-056A to 376 m depth. m with no core recovery from 315.2 to 315.8 m; this interval was m with no core recovery from 198.8 to 201.9 m; this interval was assay cut at 1,000 g/t; actual assay in A17-056 was 0.2 m at and 6.9 per cent Cu from 287.1 m. intercepts with variable true thicknesses. m of no recovery assumed zero grade. m of no recovery assumed zero grade. m of no recovery assumed zero grade. calculated using a zinc only cut-off grade of 2 per cent over SUMMARY OF SIGNIFICANT TIN (COPPER, SILVER) INTERCEPTS FOR AYAWILCA DRILL PROGRAM 2017 To Interval Sn Cu Ag (m) (m) (%) (%) (g/t) 15.10 0.56 0.04 6 3.95 1.07 0.03 6 23.45 0.37 0.03 9 13.00 1.57 0.04 7 4.00 2.82 0.04 5 5.50 1.22 0.22 16 1.10 3.72 0.81 32 4.00 0.30 0.08 6 8.00 0.51 0.13 47 39.00 0.37 0.05 6 4.80 0.44 0.05 17 16.70 0.51 0.05 9 3.30 1.45 0.05 9 2.00 2.16 0.03 11 1.80 1.33 0.09 25 2.00 1.42 0.56 75 3.50 0.79 0.08 17 using a tin-only cut-off grade of 0.2 per cent

Notes on sampling and assaying

Drill holes are diamond HQ-size or NQ-size core holes with recoveries generally above 80 per cent and often close to 100 per cent. 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 one-metre to two-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 per cent passing two millimetres, then 500 grams pulverized for multielement analysis by ICP using multiacid digestion. Samples assaying over 1 per cent zinc, lead or copper and over 100 grams per tonne silver are reassayed using precise ore-grade AAS techniques.

Samples which assayed approximately 200 parts per million tin or greater in the ICP (inductively coupled plasma) analysis were reassayed for tin by fusion with sodium peroxide and AAS (atomic absorption spectroscopy) finish (SGS Lima laboratory method SGS-MN-ME-112) or by XRF (X-ray fluorescence) pressed powder technique (ALS Lima laboratory method ME-XRF15b).

About Tinka Resources Ltd.

Tinka is an exploration and development company with its flagship property being the 100-per-cent-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 million tonnes at 5.9 per cent zinc, 0.2 per cent lead, 15 grams per tonne silver and 74 grams per tonne indium, and a tin zone inferred mineral resource of 5.4 million tonnes at 0.76 per cent tin, 0.31 per cent copper and 18 grams per tonne silver (May 25, 2016). A significant resource expansion drill program began in February, 2017, and is continuing.

We seek Safe Harbor.