Tinka Resources Limited announced that the Company has filed a National Instrument 43-101 Technical Report entitled NI 43-101 Technical Report on a Preliminary Economic Assessment of the Ayawilca Polymetallic Project, Peru in support of the Company's news release dated February 28, 2024. The effective date of the Technical Report is February 28, 2024. Ayawilca Updated PEA Highlights: Robust economics: After-tax Net Present Value (NPV) at 8% discount of USD 434 million (pre-tax NPV8% of USD 732 million) and after-tax Internal Rate of Return (IRR) of 25.9% (pre-tax IRR of 34.8%).

Payback period after-tax of 2.9 years (pre-tax of 2.4 years). Initial Capital Expenditure of USD 382 million. Long 21-year life of mine (LOM) for a 2.0 million tonnes per annum (Mtpa) zinc-silver-lead operation with 15years of tin production at 0.3 Mtpa.

Average C1 cash cost of USD 0.55/pound (lb) zinc and all in sustaining cost (AISC) of USD 0.68/lb zinc. Average annual metal production in concentrate of 200 Mlb zinc (90,000 tonnes Zn), 3.3 Mlb tin (1,500 tonnes Sn), 560,000 ounces silver and 5.7 Mlb lead (2,590 tonnes Pb). Large Mineral Resource base with approximately half of the resources in the PEA mine plan classified as Indicated. Location in a world-class mining jurisdiction, close to a zinc smelter and port.

Use of filtered tailings technology provides the lowest risk and most water-efficient solution for tailings storage with 40% of tailings to be stored underground as backfill. Significant exploration potential remains for more discoveries. Metal prices assumptions for the PEA: USD 1.30/lb zinc; USD 11.00/lb tin; USD 22/oz silver; USD 1.00/lb lead.

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 Envis Peru S.A.C. (Envis) for processing and costs for surface tailings storage.