Tinka Resources Ltd Presentation Update - 2025-04-25 - Significant Addition of...

This update highlights key strategic and financial revisions to Tinka Resources Ltd's presentation, including the recognition of indium as a new strategic metal, adjustments in ownership stakes, and a decline in market capitalization and share price. Several resource and project detail pages were removed, while new pages emphasizing exploration upside, strategic metals, and valuation metrics have been added. Financial metrics such as NPV and IRR remain unchanged, but market cap and ownership stakes have experienced notable shifts.

Page-by-Page Changes:

Page 1: This page was removed from the presentation entirely. It previously contained an overview of the Ayawilca Zinc (Silver-Tin) Project as of March 2025.

Page 2: No significant changes; content remains identical and the page is unchanged.

Page 3: The slide was updated to clarify that Ayawilca is "one of the best undeveloped zinc-rich polymetallic projects in the Americas." It now explicitly states that indium is added as a new strategic metal credit alongside silver and tin, emphasizing its importance. Infrastructure details were slightly refined, noting the coastline distance increased from 100 km to 120 km, and that an electrical substation is "just 4 km from Ayawilca" (previously mentioning "water sources available 4 km from Ayawilca"). The resource description now emphasizes "strategic metals credits" (silver, tin, and indium), whereas earlier it only mentioned silver and tin. Importantly, there are no changes to revenue, profit, or other financial metrics; the PEA’s NPV remains at US$434 million with a 21-year mine life and a 25.9% IRR. No new partnerships or strategic updates are introduced.

Page 4: The capital structure details remain unchanged—shares outstanding are steady at 408,696,885; warrants and options are unchanged; market cap decreased from C$28 million (@ $0.07) to C$20 million (@ $0.05); share price dropped from C$0.07 to C$0.05. Ownership by Nexa Resources increased significantly from 4% to 35%, Buenaventura’s stake rose from 19% to 26%, and management & insiders increased from 14% to 19%. Retail ownership decreased sharply from 18% to 4%. Cash holdings remain at C$2M, with no debt reported.

Page 5: No material changes; content remains the same.

Page 6: No changes; content remains consistent.

Page 7: The slide remains unchanged but is now numbered as page 8, as the previous page was removed.

Page 8: Entire page was removed. It detailed the mineral resource wireframes and estimates for the Ayawilca deposits as of January 1, 2024.

Page 9: The slide was updated to include results from a new drill hole, A22-202, which intercepted 38.9 meters at 20.0% zinc, including 10.4 meters at 42.0% zinc. This replaces the previous reference to the 2021 West Ayawilca model, emphasizing the updated “pipe” geological model. No other changes in financial metrics or resource estimates are evident.

Page 10: No significant changes; content remains as previously.

Page 11: No updates; content remains unchanged.

Page 12: The slide emphasizes exploration upside for zinc, tin, and silver without altering quantitative data or resource estimates.

Page 13: No material change; content remains consistent.

Page 14: This page was removed. It previously covered the Silvia Cu-Au project details from acquisition to drilling status.

Page 15: The slide remains the same but is now numbered as page 19; no material changes.

Page 16: Removed from the presentation. It previously detailed the Silvia NW Area A, including strike length, sampling results, and exploration status.

Page 17: No change; content remains as before.

Page 18: The valuation metric was updated from “Trading at less than 10% of NAV” to “Trading at less than 5% of NAV,” indicating a further decrease in perceived valuation relative to NAV. The distance to the port increased from 120 km to 130 km. All economic and resource metrics (NPV, IRR, mine life) remain the same, and there are no changes to warrants or share structure.

Page 19: No significant changes; content remains the same.

Page N/A (added new pages):

Page 1 (new): Introduces a new page titled "Critical Resource Development in Peru," covering the Ayawilca deposit and Silvia project, emphasizing regional importance.

Page 7 (new): Details the significance of tin and indium as strategic metals, highlighting their applications in electronics, renewable energy, and their supply-demand dynamics.

Page 9 (new): Presents a comprehensive resource summary, including approximately 80 million tonnes of combined resources, with specific indicated and inferred resource figures for zinc, tin, and silver zones.

Page 13 (new): Showcases a detailed slide on the Ayawilca 2024 PEA highlights, including metal prices, processing throughput, capital expenditure, and economic metrics such as NPV, IRR, and payback periods.

Page 16 (new): Describes