Tinka Resources Limited announce results for five holes in the Company's ongoing 2022 drill program at the Ayawilca project in Central Peru. Results reported are for three resource extension holes at South Ayawilca, and two exploration holes at Central Ayawilca . Results are pending for two holes and the eighth drill hole in the program, A22197, is in progress.

Approximately 10 to 12 more drill holes are planned in the zinc resource definition program. Drill hole A22195 returned very highgrade zinc results within a repeated section of favourable limestone, approximately 10 metres below the main contact with the basement phyllite. This highgrade zinc discovery is expected to extend the Zinc Zone indicated resource at South Ayawilca by around 60 metres to the northeast, with mineralization remaining open in that direction.

Previous holes in the vicinity may have been stopped prematurely and did not test the lateral continuity of the repeated limestone in the basement. In another positive development for the program, strong tincopper mineralization was also intersected underneath zinc mineralization in hole A22190 at Central Ayawilca, confirming the tenor of a previous drill hole intersection . The tincopper mineralization occurs as cassiterite and chalcopyrite in massive iron sulphide replacement bodies hosted in limestone, and as veinstyle stockwork mineralization in underlying phyllite.

Tin Zone mineralization at Central Ayawilca is interpreted to plunge northwards at a shallow angle and is open at depth. Key highlights: South Ayawilca Zinc Zone resource extensions A22195: 6.0 metres at 18.8% zinc from 392.6 metres depth including 3 metres at 27.7% zinc from 395.9 m. A22194: 26.8 metres at 4.2% zinc from 293.0 metres depth including 1.0 metre at 31.6% zinc from 310.1 m. A22192: 16.7 metres at 3.2% zinc, 0.4% lead and 18 g/t silver from 312.3 metres depth. Central Ayawilca zinc exploration A22191: 36.8 metres at 3.6% zinc from 264.0 metres depth including 6.3 metres at 6.0% zinc from 264.0 m. A22190: 17.9 metres at 3.1% zinc, 0.2% lead and 10g/t silver from 330.4 metres depth.

Tin Zone exploration: A22190: 32.0 metres at 0.36% tin, 0.33% copper and 13 g/t silver from 398 metres depth, including 9.4 metres at 0.52% tin, 0.28% copper and 11 g/t silver from 412.7 m. The mineralization in the above holes is associated with sulphide bodies interpreted to be gentlydipping. True thicknesses of the mineralized intercepts are estimated to be at least 80% of the downhole thicknesses. The main objectives of the 2022 drill program at Ayawilca are to target additional highgrade zinc mineralization and to expand the measured and indicated zinc mineral resources.

Indicated resources are currently estimated at 19.0 Mt grading 7.2% Zn, 17 g/t Ag & 0.2% Pb and inferred resources are 47.9 Mt @ 5.4% Zn, 20 g/t Ag & 0.4% Pb. Three holes were drilled to test the potential expansion of zinc mineralization at South Ayawilca to the east and northeast. Hole A22192 is believed to have intersected the southern edge of the highgrade zinc mineralization at South, while A22194 and A22195 both intersected zones of highgrade zinc. Hole A22195 intersected 6 metres grading 18.8% zinc within a repeated limestone, the favoured lithology for sulphide replacement, approximately 10 metres below the main contact with the basement phyllite.

The upper contact with the repeated limestone is interpreted as a low angle thrust, and the possibility exists for more extensive limestone beneath the main phyllite contact. Previous drill holes nearby may have been stopped too soon, without testing the lateral continuity of the repeated limestone in drill hole A22195 . Holes A22190 and A22191 were drilled at Central Ayawilca to test for the lateral extensions of a previous zinc intercept and to confirm the extent of the tin mineralization at depth.

Both holes intersected moderate grade zinc mineralization, while the strong tin grades in hole A22190 confirmed good continuity with previous drill holes. 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 halfcores stored as a future reference. Halfcore was bagged on average over 1 to 2 metre composite intervals and sent to ALS and SGS laboratories 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 multielement analysis by ICPMS using multiacid digestion. Samples assaying over 1% zinc, lead, or copper and over 100 g/t silver were reassayed using precise oregrade AAS techniques. Samples within massive sulphide zones were also assayed for tin using XRF techniques.