"An investment in knowledge pays the best interest."

Tinka Resources Ltd. (TK.V) has released results of five additional drill holes from its 100-per-cent-owned Ayawilca zinc project in central Peru. All five holes are from the South Ayawilca area. Hole A17-063 has returned one of the best intersections of zinc mineralization at Ayawilca to date, 47.7 metres grading 11.3% zinc, also with high indium credits. Hole A17-063 lies 200 metres northeast of the South Ayawilca discovery hole A17-056, which intersected two high grade zinc sulphide zones including 17.9 metres at 11.6 % zinc and 51.9 metres at 10.1% zinc (see Table 1). Drill results reported so far in 2017 have defined high grade zinc mineralization at South Ayawilca over a northeast-southwest strike length of 370 metres, connecting the South Ayawilca discovery area to the Central Ayawilca zinc resource.

Key Highlights

Hole A17-059:

0.8 metres at 37.5 % zinc, 0.5 % lead & 69 g/t silver from 50.3 metres depth (vein).

Hole A17-063 :

47.7 metres at 11.3 % zinc, 18 g/t silver & 313 g/t indium from 302.2 metres depth, including

9.8 metres at 17.4 % zinc, 28 g/t silver & 587 g/t indium from 303.3 metres depth; and

12.2 metres at 17.1 % zinc, 26 g/t silver & 495 g/t indium from 327.4 metres depth.

Hole A17-064:

0.5 metres at 15.6 % zinc, 11 g/t silver & 304 g/t indium from 269.9 metres depth; and

0.4 metres at 14.5 % zinc, 17 g/t silver & 39 g/t indium from 277.2 metres depth.

Hole A17-065:

19.3 metres at 4.7 % zinc, 7 g/t silver & 93 g/t indium from 219.5 metres depth, including

2.6 metres at 20.6 % zinc, 23 g/t silver & 529 g/t indium from 236.2 metres depth; and

26.6 metres at 3.6 % zinc, 4 g/t silver & 46 g/t indium from 266.4 metres depth; and

24.7 metres at 3.8% zinc, 5 g/t silver & 51 g/t indium from 307.3 metres depth.

Hole A17-066:

3.5 metres at 7.4 % zinc, 24 g/t silver & 111 g/t indium from 330.9 metres depth, and

5.0 metres at 11.3 % zinc & 37 g/t silver & 270 g/t indium from 345.0 metres depth;

Dr. Graham Carman, Tinkas President and CEO, stated: "These latest drill results continue to show strong zinc mineralization in our step-out drill program at South Ayawilca. There now appears to be continuity of the zinc mineralization between South & Central Ayawilca, which could add an additional 500 metres of mineralization along strike extension to our existing resources. Massive to semi-massive sulphides occur throughout the mineralized sequence. We are finding that the zinc mineralization is zoned around iron sulphides (mostly pyrrhotite with lesser pyrite) which may also host tin mineralization (note: tin assays are pending). We have also encountered an important northeast-trending fault, and can confirm that post-mineral movement has displaced mineralization laterally which opens additional exploration opportunities. "

The Company has now released results from eleven drill holes of an estimated total of 30 holes planned for 2017. Seventeen holes have been completed. There are currently two rigs drilling at South and Central Ayawilca focussing on resource expansion and connection of these areas (see drill map, Figure 1). A third drill rig is currently testing the possible extensions of West Ayawilca. A fourth rig has started at Zone 3, a new area located 700 hundred metres northeast of the existing zinc resource area (see Figure 2).

Zinc mineralization is associated with gently dipping, massive to semi-massive, sulphide replacements of carbonate and clastic sediments. Minor veins are also noted. True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text.

Table 1.  Summary of 2017 Drill Results
  
  
Drill hole       From (m)   To (m)  Interval (m)   Zn (%) Pb (%)  Ag (g/t) Indium (g/t)        Reported
A17-056  1          90.30    90.65          0.35     29.0    0.4        82          443     April 3 '17
and                113.00   113.40          0.40     31.2    0.0        85          759     April 3 '17
and                126.00   189.90         63.90      5.6    0.1        17           29     March 6 '17
including          127.50   145.40         17.90     11.6    0.2        36           20     March 6 '17
including          127.50   133.30          5.80     22.5    0.3        77           50     March 6 '17
and                199.20   204.70          5.50      5.8    0.1         6           38     April 3 '17
and                228.50   233.70          5.20     12.9    0.0        11          162     March 6 '17
and                242.00   293.90         51.90     10.1    0.1       624          233     April 3 '17
including          279.00   293.90         14.90     20.6    0.2    152  4          441     April 3 '17
including          279.00   285.40          6.40     37.5    0.4       301          916     April 3 '17
A17-056A           286.50   296.00          9.50      9.3    0.3        19           88        May 3'17
and                309.00   313.10          4.10     18.6    0.1        27          224        May 3'17
including          310.50   313.10          2.60     27.3    0.1        38          336        May 3'17
A17-057             84.90    86.35          1.45     24.8    0.0        62          157     April 3 '17
and                143.70   144.50          0.80     40.4    0.1       138          261     April 3 '17
and                157.60   197.70         40.10      9.1    0.2        22          168     April 3 '17
including          168.20   177.80          9.60     16.8    0.1        22          299     April 3 '17
and                227.15   234.90          7.75      3.5    0.2        21           85     April 3 '17
and                264.00   279.30         15.30     20.0    2.5       102          263     April 3 '17
including          265.75   269.00          3.25     34.5    2.1        96          196     April 3 '17
including          272.50   277.70          5.20     32.5    1.3        69          639     April 3 '17
A17-058            103.50   107.70       4.20  5     20.2    4.2    329  4           15        May 3'17
and                133.25   134.35         1.105     30.3    3.2       500           61        May 3'17
Ho             le did not reach target, lost at 301 metres depth in sandstone
A17-059             50.30    51.10         0.805     37.5    0.5        69           70            Here
and                 58.00    60.00          2.00      6.3    0.0        12           30            Here
A17-060            262.40   264.40          2.00     14.8    0.0        35         1178        May 3'17
and                275.00   279.50          4.50     15.0    0.0        20          383        May 3'17
and                298.00   328.50         30.52      3.4    0.2        10           38        May 3'17
including          303.40   312.00          8.60      5.1    0.1        11            6        May 3'17
A17-061            122.70   150.50         27.80      4.4    0.1        18           24        May 3'17
including          145.70   147.50         1.805     27.2    0.0        32          157        May 3'17
and                184.00   202.60      18.60  3     10.4    0.5        52           59        May 3'17
including          196.20   198.80          2.60     23.6    2.4       192           19        May 3'17
including          201.90   202.60          0.70     28.7    3.6       202           41        May 3'17
and                220.00   233.40         13.40     18.7    0.9        57          463        May 3'17
including          224.10   230.00          7.90     29.3    0.8        71          719        May 3'17
and                265.00   266.80          1.80     37.0    0.2        85          808        May 3'17
A17-062           Hole was lost prior to target depth; some mineralization in hole with results awaited
A17-063            302.20   349.90         47.70     11.3    0.0        18          313            Here
including          303.30   313.10          9.80     17.4    0.0        28          587            Here
including          327.40   339.60         12.20     17.1    0.0        26          495            Here
A17-064            269.90   270.40          0.50     15.6    0.0        11          304            Here
and                277.20   277.60          0.40     14.5    0.0        17           39            Here
A17-065            119.00   119.75          0.75     36.6    0.1        88          157            Here
and                204.00   210.00          6.00      4.0    0.0         4            9            Here
and                219.50   238.80         19.30      4.7    0.0         7           93            Here
including          236.20   238.80          2.60     20.6    0.0        23          529            Here
and                266.40   293.00         26.60      3.6    0.0         4           46            Here
and                307.30   332.00         24.70      3.8    0.0         5           51            Here
and                340.00   346.00          6.00      2.6    0.1         7           16            Here
A17-066            185.20   185.50          0.30     37.8    0.0        40         1330            Here
and                330.90   334.40          3.50      7.4    0.1        24          111            Here
and                345.00   350.00          5.00     11.3    0.1        37          270            Here
 
 
1 hole lost at 293.9 metres; wedged and completed as A17-056A to 376 metres depth                 
2 includes 0.6 m with no core recovery from 315.2 to 315.8 m; this interval was given a zero grade
3 includes 3.1 m with no core recovery from 198.8 to 201.9 m; this interval was given a zero grade
4 includes a silver assay cut at 1000 g/t                                                         
5 high grade vein intercepts with variable true thicknesses                                       
Note: Assays are calculated using a zinc only cut-off grade of 2% over 6 metres

Notes on sampling and assaying:

Drill holes are diamond HQ or NQ 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 is bagged on average over 1 to 2 metre composite intervals and sent to ALS laboratory in Lima, an ISO 9001:2000-registered laboratory, for assay in batches. Standards and blanks are inserted into each batch prior to departure from Tinka's core storage facilities. At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP (MS) using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper are re-assayed using precise ore-grade AAS 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.

About Tinka Resources Limited

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver. Both resources are open for expansion (May 25, 2016). The Silver Zone at Colquipucro, 2 km north of the Zinc Zone, has an Indicated Mineral Resource of 2.9 Mt at 112 g/t silver for 10.4 Moz silver and an Inferred Mineral Resource of 2.2 Mt at 105g/t silver for 7.5 Moz silver hosted by oxidized lenses between the surface and 80 metres depth (Feb. 26, 2015).