Tinka Resources Limited announced results for the final three drill holes of the 11,000-metre 2022-2023 drill program at South Ayawilca and to provide an update on the Company's ongoing exploration activities. The recent drill campaign at Ayawilca was completed at the end of May 2023. The Company is now focused on completing a Mineral Resource update for the Ayawilca deposit and revising future mining scenarios via a desktop trade-off study.

Exploration is also continuing at the Company's nearby Silvia copper-gold project. Drill results from the "Silver Zone" at South Ayawilca were highly encouraging with a high-grade silver intercept in a 150-metre step-out in hole A22-195. The other two new holes reported here, A23-221 and A23-223, intersected high-grade "Zinc Zone" mineralization in resource confirmation holes.

All drill hole results have now been incorporated into a revised geological model for the Ayawilca deposits, and an independent consultant is currently updating the Mineral Resource estimation for the Zinc and Tin Zones. The full suite of drill results from the 2022-23 program have now been incorporated into an updated 3D geological model and a Mineral Resource update is in progress. The updated Mineral Resource estimation is expected to be available in September 2023.

Significant improvements to the geological interpretation based on the 2022-23 drill program include the following: Zinc Zone mineralization at West Ayawilca is more vertically controlled than was previously interpreted - two zinc sulphide 'pipes' each with diameters of between 100 and 150 metres extend through entire limestone sequence (up to 200 metres vertically).