Tinka Resources Limited · TSXV:TK
Tinka Resources — Investor Presentation (May 2025)
28 slides from Tinka Resources's investor presentation, May 2025
Slide 1: Focus on Peru: Corporate Presentation May 2025
FOCUS ON PERU Ayawilca Zinc-Silver-Tin Polymetallic Deposit (flagship) Silvia Gold-Copper Project (huge exploration upside) Corporate Presentation May 2025
Slide 2: Disclaimer
Disclaimer This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Tinka Resources Limited (“Tinka” or the “Company”), nor shall it or any part of it form the bas
Slide 3: Investment Highlights
Investment Highlights Quality projects and growth potential: Ayawilca is one of the best undeveloped zinc-rich polymetallic projects in the Americas with important critical metal credits (silver, tin and indium). Huge exploration upside at Ayawilca, and at nearby Silvia project for gold-copper porph
Slide 4: Capital Structure
Capital Structure Shares Outstanding 408,696,885 19% Buenaventura Warrants ($0.15) 8,696,479 (exp 06/26) 35% Nexa Resources Options ($0.25) 8,350,000 (exp 06/26) Institutions Market Cap C$17 M (@ $0.04) OWNERSHIP Mgmt & Insiders Share Price C$0.04 19% Retail Cash & Equivalent C$2M 4% Debt nil 23% Ti
Slide 5: Management and Directors
Management and Directors President and CEO: Graham Carman, PhD, FAUSIMM: Dr. Graham Carman is a geologist with 20 years experience in Peru (ex Rio Tinto, Kennecott, Savage Resources, Pasminco). CEO/MD of junior companies in Australia (Paradigm Gold) and Canada (Darwin Res, Tinka Res). GM / Project M
Slide 6: Zinc – the Versatile Critical Metal
Zinc – the Versatile Critical Metal Zinc Supply and Demand (Mt Zn) ➢ Multiple uses: Protecting steel against corrosion is the most important use, also alloys and die-casting. ➢ Demand increasing for green energy uses: construction, wind turbines, transmission towers, solar panels, EVs ▪ A 10 MW offs
Slide 7: Tin / Indium – Important Critical Metals
Tin / Indium – Important Critical Metals ➢ Tin is the highest value of all the base metals - ➢ Indium is a key component in flat panel displays growing demand with a predicted supply deficit. and touch screens, LCDs, semiconductors, thin- ➢ Widely used in electronics and circuit boards as film solar
Slide 8: Central Peru: World-Class Mines Close to Markets
Central Peru: World-Class Mines Close to Markets ➢ Central Peru hosts several world-class base metal mines, including Antamina (Cu-Zn), due to its favorable Andean geology. ➢ Port of Callao Lima / Cajamarquilla zinc refinery are 250 km by road from Ayawilca. ➢ Port of Chancay (Chinese) 130 km by roa
Slide 9: Mineral Resources: ~80 Mt of Combined Resources
Mineral Resources: ~80 Mt of Combined Resources Zinc Zone ➢ Indicated: 28.3 Mt @ 5.8% zinc, 16.4 g/t silver, Based on ~95,000 metres of drilling 0.2% lead and 91 g/t indium ➢ Inferred: 31.2 Mt @ 4.2% zinc, 14.5 g/t silver, 0.2 g/t lead and 45 g/t indium Tin Zone ➢ Indicated: 1.4 Mt @ 0.72% tin ➢ Inf
Slide 10: Ayawilca: High-Grade Zinc at West and South
Ayawilca: High-Grade Zinc at West and South ➢ Exceptional drill results from the 2022/23 drill program led to a reinterpretation of the geological model and updated PEA. West Ayawilca – massive sulphide ‘pipes’ Selected Results from 2022/23 Drill Program W E A22-195 6.0m @ 18.8% Zn incl. 3.0m @ 27.7
Slide 11: Ayawilca: 2024 PEA
Ayawilca: 2024 PEA ➢ 2.0 Mt per annum zinc-silver-lead circuit and 0.3 Mtpa tin underground mine as two separate circuits: ▪ Robust economics: NPV 8% of US$434 million after-tax and IRR of 25.9% after-tax. ▪ Long life-of-mine : 21-year LOM for zinc, 15-year To be optimised later (PFS) LOM for tin op
Slide 12: Ayawilca PEA: Flow-Sheet for Zinc and Tin Circuits
Ayawilca PEA: Flow-Sheet for Zinc and Tin Circuits 180,000 dmt Zn conc / yr (av.) Zinc-Silver-Lead 5,500 dmt Ag-Pb conc / yr (av.) Tin 3,000 dmt Sn conc / yr (av.) TinkaResources.com 12 | TSXV: TK
Slide 13: Ayawilca: Spectacular Grades
Ayawilca: Spectacular Grades South Ayawilca: 39 m @ 20% Zn including West Ayawilca: 16 metres @ 22% Zn (A22-220) 10 m @ 42% Zn (A22-202) TinkaResources.com 13 | TSXV: TK
Slide 14: Ayawilca: Map of Metal Distribution
Ayawilca: Map of Metal Distribution Uplifted block >5% Zinc East Zn >0.2% Copper >0.1% Tin West Zn Zn 1 km Priority Sn targets Central Sn (Cu) target South Zn TinkaResources.com 14 | TSXV: TK
Slide 15: Ayawilca: Cross Section AA’ (NW to SE)
Ayawilca: Cross Section AA’ (NW to SE) A A’ West Ayawilca Central Ayawilca 060 Fault Zinc resource >5% Zinc Tin resource >0.2% Copper 300 m >0.1% Tin TIN is A22-190: 32m @ 0.36% Sn & 0.33% Cu OPEN A13-11: 16m @ 1.0% Sn & 0.7% Cu (to EOH) Incl. 2m @ 4.8% Sn & 2.0% Cu Sn-Cu ‘feeder structure’ undrille
Slide 16: Ayawilca: Cross Section BB’ (SSW to NNE)
Ayawilca: Cross Section BB’ (SSW to NNE) South Ayawilca 060 Fault B Magnetic “low” B’ Central Ayawilca East Ayawilca Zinc resource >5% Zinc Tin resource >0.2% Copper 300 m >0.1% Tin East Zn target A13-11: 16m @ 1.0% Sn & 0.7% Cu Central A13-12A: 31m @ 0.54% Sn and 0.2% Cu (OPEN) Incl. 2m @ 4.8% Sn S
Slide 17: Environmental, Social and Governance
Environmental, Social and Governance Tinka has strong relationships with local communities • Tinka is committed to fostering long-term sustainable relationships with our stakeholders. • Agreements in place with two communities. • The Company provides employment opportunities and social investments t
Slide 18: Silvia: Huge Upside for Gold & Copper
Silvia: Huge Upside for Gold & Copper Silvia mining claims: 10,900 ha N ) ) Silvia NW ) ) ) ) ) )) ) ) ) ) ) ) ) ) ))) ) Ayawilca mining claims: 16,800 ha ) ) ) ) ) ) )) ) ) ) ) Up to 12% Cu in rocks ) ) ) ) ) ) ) ) ) ) ) )) ) ) ) ) ) ) ) ) ) ) )) ) ) ) ) ) ) ))) ) ) ) )) ) ) ) ) ) ) ))) )) ) ) ))))
Slide 19: Silvia NW Target - Geology
Silvia NW Target - Geology N ALTERATION Hornfels • Several intrusive rocks cut the limestone 1 km Marble sequence, stocks and dikes Exoskarn Endoskarn • Multiple zones of Cu-Au mineralization associated with garnet – pyroxene skarn, stockworks, within the intrusions. Area C • Main target area at Sil
Slide 20: Silvia: High-Grade Gold-Copper Target “Area A”
Silvia: High-Grade Gold-Copper Target “Area A” 1m @ 2.9 g/t Au & 1.2% Cu 8m @ 0.3 g/t Au & 0.5% Cu 150 m Geology cover Quartz Monzonite High-grade Limestone 16m @ 0.3 g/t Au & 0.5% Cu Au-Cu target area 34m @ 0.2 g/t Au & 0.4% Cu Alteration 1m @ 18.6 g/t Au & 12.3 % Cu Marble cover 8m @ 0.2 g/t Au &
Slide 21: Investment Summary
Investment Summary ➢ High quality projects: 1. Ayawilca Zinc-Silver-Tin: One of the largest undeveloped zinc deposits in the Americas, significant tin and silver upside – offers development and growth opportunities. 2. Copper-gold discovery at Silvia: Huge exploration potential for large, high-grade
Slide 22: Peer Group Valuation
Peer Group Valuation ➢ Few globally significant zinc development projects are held by juniors. ➢ Tinka’s Ayawilca project is attractively valued, representing one of the cheapest zinc projects on an EV/ Resource basis. 60 18,000 AYAWILCA 16,000 50 14,000 Resouce (Mlb ZnEq) 40 12,000 (C$/Klb Zn Eq) E
Slide 23: Ayawilca 2024 PEA - Highlights
AYAWILCA 2024 PEA - Highlights BASE CASE METAL PRICES & EXCHANGE RATE ASSUMPTIONS INPUT VALUE OPERATING SUMMARY Zinc price US$1.30/lb Processing plant throughput Zn/Ag/Pb 2.0 Mt/year Lead price US$1.00/lb Processing plant throughput Sn 0.3 Mt/year Silver price US$22/oz Avg. annual Zn concentrate pro
Slide 24: Zinc Zone Mineral Resource (SLR, Jan. 2024)
Zinc Zone Mineral Resource (SLR, Jan. 2024) Grade Contained Metal Classification/ Tonnage NSR Zone (Mt) ($/t) (% Zn) (g/t Ag) (%Pb) (g/t In) (Mlb Zn) (Moz Ag) (Mlb Pb) (t In) Indicated South 13.8 128 6.64 19.3 0.2 120 2,020 8.6 52 1,655 West 14.5 98 5.05 13.6 0.2 64 1,618 6.3 56 927 Total Indicated
Slide 25: Tin Zone Mineral Resource (SLR, Jan. 2024)
Tin Zone Mineral Resource (SLR, Jan. 2024) Tonnage NSR Grade Contained Metal Classification (Mt) ($/t) (% Sn) (Mlb Sn) Indicated 1.4 99 0.72 22 Inferred 12.7 104 0.76 213 Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. The Mineral Resources have been reported within undergro
Slide 26: Structural Control: Favorable Geological Setting
Structural Control: Favorable Geological Setting ➢ Major structures. N ➢ Zinc occurs near margins or close to Uplifted block magnetic anomalies. U East ➢ East Ayawilca D Zn discovery hole D included 21 m @ 6.1% Zn, 0.2% Pb & U 13 g/t Ag and 37 m @ 6.1% Zn, 0.4% West Central Pb & 10 g/t Ag – Not Zn S
Slide 27: Tin Zone – Open and Untested at Depth
Tin Zone – Open and Untested at Depth A14-18 • 1 km strike of HG A14-24 tin Existing Indicated • More drilling Zinc Zone Resources A14-18 platform needed to define high-grade areas and depth extents A13-01 A15-40 West A23-219 plaform A13-12A A13-04 TIN ZONE – Drill intercepts A13-11 A15-40: 13m @ 2.
Slide 28: Contacts
CONTACTS Graham Carman, President and CEO gcarman@tinkaresources.com Mariana Bermudez, Corporate Secretary info@tinkaresources.com Tim McNulty, Corporate Communications tmcnulty@tinkaresources.com Phone: 1.604.290.8100 Tinka Resources Suite 1305 – 1090 West Georgia St Vancouver, BC V6E 3V7 Canada Ti