Tinka Resources Limited announced results from four infill drill holes from the Company's ongoing resource definition and expansion drill program at the Ayawilca zinc project in Peru. All four holes reported are from the West Ayawilca area. The results reported in this release are of similar or better grade to the earlier holes and show strong continuity of the limestone-hosted zinc sulphide mineralization at West Ayawilca.

The Company recently announced an extension of the drill program to 11,000 metres due to the strong results particularly from South Ayawilca. Approximately 8,200 metres in 24 drill holes have been completed with results reported for 17 holes. The drill program is progressing without interruption with two rigs operating 24/7 and is expected to continue until April 2023.

Tinka has now completed approximately 8,200 metres for 24 holes in the 2022-2023 resource definition-expansion drill program with 17 of the holes now reported - see previous results dated Oct 11, 2022, Nov. 21, 2022 and Jan 9, 2023. The objectives of the drill program continue to be to target high-grade zinc mineralization at South and West Ayawilca and to expand measured and indicated zinc resources.

Hole A22-207 was a follow-up of hole A22-200, one of the best holes ever drilled at West Ayawilca (44.9 metres at 12.0% zinc from 283.3 metres) and produced a similar intercept at a shallower depth: 45.2 metres at 11.5% zinc from 248.0 metres. This high-grade interval formed part of a thicker lower grade interval consisting mostly of breccia-hosted zinc mineralization which is typically observed in the upper portions of the West Ayawilca deposit: 132.5 metres at 6.8% zinc from 194 metres depth downhole (from 180 metres vertical depth). Holes A22-203 and A22-205 were both follow-up holes of A22-197 (79.4 metres at 5.3% zinc from 271.6 metres depth including 26.3 metres at 8.4% zinc from 281.7 metres depth).

A22-203 intersected 49.8 metres 8.3% zinc from 186.8 metres depth in limestone breccia, approximately 80 metres up-section of the mineralized zinc intercept in hole A22-197. Hole A22-205 was drilled underneath A22-197 and intercepted 63.3 metres at 6.6% zinc including 14.4 metres at 9.4% zinc from 291 metres depth. Hole A22-209 tested the northern-most extension of the mineralization at West Ayawilca.

The best mineralization in A22-209 was 1 metre at 11.3% zinc with an additional narrow intercept of 1.7 metres at 7.7% Zn+Pb & 108 g/t Ag. Drill holes are diamond HQ size core holes with recoveries generally above 80% and often close to 100%. 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 was bagged on average over 1 to 2 metre composite intervals and sent to SGS laboratory in Lima for assay in batches. Standards and blanks were inserted by Tinka into each batch prior to departure from the core storage facilities.

At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICPMS using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper and over 100 g/t silver were re-assayed using precise ore-grade AAS techniques. Samples within massive sulphide zones were also assayed for tin using fusion and atomic absorption techniques.

The Qualified Person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.