VANCOUVER, Nov. 28, 2018 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV: TK) (BVL: TK) (OTCPK: TKRFF) is pleased to
announce that it has formally commenced a Preliminary Economic Assessment ("PEA") on the Ayawilca Zinc and Tin Project in
Peru. Wood (formerly Amec Foster Wheeler) in Lima, Peru, has been engaged as lead
consultant to prepare the PEA.
In addition, Tinka is pleased to announce the appointment of Mr Ken Engquist as Managing
Consultant, Project Development. Mr. Engquist's role is to oversee development of the PEA on behalf of the Company. His track
record and extensive experience adds additional leadership and project development expertise to an already strong in-country
exploration team, led by Alvaro Fernández-Baca, VP Exploration. The management team is well qualified to ensure Tinka
delivers a high value base metal project in one of the best mining jurisdictions in the industry.
Dr. Graham Carman, President and CEO, stated: "It is with great enthusiasm that we welcome
Ken Engquist as Tinka's manager of our Ayawilca Project PEA. Ken brings a broad background of
knowledge to Tinka, with his experience in both major and junior company development projects. His experience is very
relevant for Tinka given his intimate involvement with Arizona Mining's Hermosa project in the USA and, before that Nevsun Resources' Timok project in Serbia. We are looking forward to benefitting
from Ken's exceptional skillset, experience in project management and development and his active involvement as we move Ayawilca
forward."
Mr. Engquist is based in Vancouver but will be spending much of his time in Peru in support of the project. Mr Engquist will report to Tinka's CEO. Mr. Engquist brings over 25 years of
engineering and project leadership experience to his role. Immediately prior to joining Tinka, he was responsible for overseeing
the feasibility engineering study for Arizona Mining's Hermosa Zinc Project which has recently been fully acquired by South
32. Before this, Mr. Engquist was VP of Project Development for Nevsun Resources where he was responsible for the Timok
copper project in Serbia. He led all aspects of the development including chairing the joint venture technical advisory board
comprised of executive experts from both Nevsun and Freeport-McMoRan. Mr. Engquist's past experience also includes roles with
Oxygen Capital where he was responsible for advancing a portfolio of projects within Oxygen's managed group of companies (True
Gold, Pilot Gold, and Pure Gold) through various stages of development from advanced exploration to start up. He has held
positions with AngloGold Ashanti as Manager of their Projects Group within their US operations and spent several years with Rio
Tinto's Copper Group as a Senior Project Manager. Mr. Engquist led the infrastructure engineering for the underground design of
the Oyu Tolgoi mine in Mongolia as well as held senior project leadership roles and consulted on
several other mining projects at operations such as Kennecott Utah Copper, La Granja in Peru,
and Resolution Copper in Arizona. Mr. Engquist holds a B.Sc. in Engineering from Michigan Technological University and is a registered Project Management Professional.
About Wood
Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial
markets. Wood operates in more than 60 countries, employing around 60,000 people, with revenues of over $10 billion. The company provides performance-driven solutions throughout the asset life-cycle, from concept to
decommissioning across a broad range of industrial markets including the upstream, midstream and downstream oil & gas, power
& process, environment and infrastructure, clean energy, mining, nuclear and general industrial sectors www.woodplc.com. The company serves mining industry clients in more than 80
countries, providing a full range of services from initial exploration through to engineering, construction, commissioning and
closure. It is recognized by the mining industry and the international finance community for the production of NI 43-101
Technical Reports and other audit/due diligence work.
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 contains 11.7 Mt of Indicated Resources grading 6.9% zinc, 0.2%
lead, 15 g/t silver and 84 g/t indium and 45.0 Mt Inferred Resources grading 5.6% zinc, 0.2% lead, 17 g/t silver and 67 g/t
indium. The Ayawilca Tin Zone contains an Inferred Mineral Resource of 14.5 Mt at 0.63% tin, 0.23% copper & 12 g/t
silver (November 26, 2018 release). A maiden PEA is underway, with results anticipated in the first half of 2019. 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.
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President & CEO
Forward Looking Statements: Certain information in this news release contains forward-looking statements and
forward-looking information within the meaning of applicable securities laws (collectively "forward-looking
statements"). All statements, other than statements of historical fact are forward-looking statements. Forward-looking
statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available
to Tinka's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors
including, without limitations, drilling results, the Company's expectations regarding the Ayawilca Project PEA, capital and
other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets,
changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment
failure, unexpected geological conditions, imprecision in resource estimates or metal recoveries, success of future development
initiatives, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain
necessary permits and approvals from local authorities, community agreements and relations, and other development and operating
risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect,
actual results may vary materially from those described herein. Although Tinka believes that assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by
applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Tinka Resources Limited
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