Tinka Resources Drills 26 Meters Grading 10% Zinc At Ayawilca

VANCOUVER - Tinka Resources Limited reported partial results from drill hole A20-170 and full results from A20-169, the first two holes of the 2020 drill program at the Ayawilca project in central Peru. Drill hole A20-170 at South Ayawilca intersected several zones of high-grade zinc (silver-lead) mineralization from 203 meters to 357 meters depth, with assay results reported here to a depth of 309 meters only. Assay results for mineralized samples beyond 309 meters depth are pending. The receipt of assays from the laboratory has been slower this year due to the impacts of COVID-19 in Peru.

Highlights Hole A20-170 (South Ayawilca): 12.2 meters @ 4.1% zinc, 1.2% lead & 60 g/t silver from 202.9 meters depth, including 2.2 meters @ 10.2% zinc, 2.5% lead & 121 g/t silver from 202.9 meters depth; 3.7 meters @ 6.5% zinc, 0.1% lead & 13 g/t silver from 243.2 meters depth; 25.9 meters @ 10.0 % zinc & 15 g/t silver from 282.6 meters to end of sampled interval, including 13.7 meters @ 15.9% zinc & 26 g/t silver from 282.6 meters depth; These are partial results only - significant visible zinc and iron sulphide mineralization has been observed from 309 meters depth (end of reported interval above) to the contact with the underlying phyllite at 357 meters depth - assay results for this interval are pending; Mineralization is associated with gently dipping sulphide rich "mantos" hosted by limestones; and True thicknesses of the manto intersections are estimated to be at least 90% of the downhole thicknesses.

Highlights Hole A20-169 (West Ayawilca): 0.9 meters @ 13.7% zinc, 0.6% lead & 133 g/t silver from 108.8 meters depth; 1.1 meters @ 12.4% zinc, 2.1% lead & 147 g/t silver from 136.0 meters depth; 1.1 meters @ 18.8% zinc, 5.0% lead & 172 g/t silver from 190.0 meters depth; 0.7 meters @ 15.2% zinc, 1.3% lead & 71 g/t silver from 210.5 meters depth; 1.2 meters @ 22.7% zinc, 3.9% lead & 190 g/t silver from 356.8 meters depth; and Mineralization in hole A20-169 is vein style - these veins have unknown true thicknesses.

Hole A20-170 is an infill hole within the overall footprint of the inferred resource at South Ayawilca. Hole A20-169 is a step-out hole 75 meters west of the existing inferred resource at West Ayawilca - this hole intersected several high-grade but narrow zinc-silver-lead veins. So far in the drill program, approximately 2,500 meters have been completed in seven drill holes (see Figure 1 for a map of drill holes). The overall program is now expected to extend into early 2021. Several drill targets still remain to be tested, including the large area between West and South Ayawilca which has seen limited past drilling.

President and CEO, Graham Carman, said, "These initial drill results are a great start to the 2020 drill program. Hole A20-170 intersected a better than expected zone of high grade zinc mineralization at South Ayawilca, with additional mineralization to be reported from deeper in the hole once results are received from the lab. Importantly, this hole hit high grade silver-zinc-lead mineralization as well as massive pyrrhotite at shallower than usual depths, suggesting that replacement of limestone by sulphides is much thicker in this area than previously recognised. Additional holes are planned to further drill test this high grade area, as well as the large gap between West and South."