Tinka Resources Limited

March 08, 2010 09:00 ET

Tinka Options Anita de Tibillos Copper Porphyry Project in Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2010) - Tinka Resources Limited (the "Company") (TSX VENTURE:TK)(PINK SHEETS:TKRFF)(FRANKFURT:TLD) - The Company announces the signing, through its 100% owned Peruvian subsidiary, of an option agreement to purchase 100% interest in the Anita de Tibillos Copper Porphyry property ("Tibillos") from an arm's length private owner in Peru (the "Vendor"). Tibillos totals 1,000 hectares and is located about 40 km northeast of the town of Palpa, situated 50 km northwest of Nazca, along the Pan American highway.

Tinka has the right to acquire 75% interest in Tibillos by making cash payments totaling US$600,000 over a period of five years, including a cash payment of US$11,000, payment of outstanding mineral claim fees, and undertake certain exploration programs in the first year of the agreement. Tinka has the exclusive right to purchase the remaining 25% interest in Tibillos by making cash payments of US$500,000 over a further five year period provided that Tinka has earned the initial 75% interest. The Vendor retains no royalties.

Tibillos is located within the coastal batholith and falls along a contiguous line of porphyry deposits including Lara, Tingo, Puquio and Los Pinos. Tibillos was sampled by Noranda in the 1990's who took 87 rock chip samples over an area of 2.5 km x 1 km. Within a 1 km x 1 km area, 64 of these rock samples averaged 640 ppm Cu with the highest being 3,150 ppm Cu. The granodiorite host rock is extremely leached; experience gained elsewhere, in similar environments, shows that surface copper values do not reflect the actual copper grades found in primary sulphides at depth or in any supergene zone, yet to be identified. These results are very encouraging, and Tibillos has never been drill tested. The granodiorite subcrop has been traced for over 4 km east-west by 2 km north-south and is covered by quartzites and younger volcanics on all sides.

An induced polarisation (IP) survey, covering approximately 25 line-kilometres, will be undertaken shortly in conjunction with a detailed mapping program to further define the limits of the porphyry target prior to an initial drill program.

The qualified person for Tibillos, David Henstridge, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists, has visited the Tibillos property in Peru and has verified the contents of this news release.

On behalf of the Board,

Andrew Carter, President & CEO

Forward Looking Statements - This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. 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.

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.

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