Tinka Resources Limited

May 01, 2008 09:10 ET

Tinka to Drill Golden Mountain Project, Australia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Tinka Resources Limited (TSX VENTURE:TK)(PINK SHEETS:TKRFF)(FRANKFURT:TLD) (the "Company")

Mr. Andrew Carter, President, announces that Tinka has entered into a contract to undertake diamond drilling at the Company's Golden Mountain gold project in Victoria, Australia. The program will consist of approximately 600 metres of confirmation drilling within the footprint of previous drilling, and is anticipated to begin in late May.

Mr. Carter said "we are pleased to have secured a drill rig that will be on site before the end of May. Furthermore, a comprehensive program of soil and stream sediment sampling is now underway on the wider Strathbogie South project, to locate new areas of mineralization in similar geological settings to that known at Golden Mountain."

Golden Mountain is a sediment hosted gold project, with a hard rock and alluvial mining history of approximately 140,000 oz of gold production from operations that concluded in the 1920's. Drilling and outcrop sampling has defined a gold enriched corridor some 300 metres in length, 150 metres wide and to 300 metres in depth. Significant intersections from historical drilling include:

- 86.9 m @ 3.6 g/t Au from 37.9 m in GMDDH1

- 37.8 m @ 5.6 g/t Au from 168.5 m in GMDDH12

- 39.0 m @ 3.5 g/t Au from 16.0 m in GMRC72

- 45.0 m @ 3.0 g/t Au from 181.0 m in GMDDH21

- 88.0 m @ 1.5 g/t Au from 0.0 m in GMRC18

- 20.0 m @ 6.0 g/t Au from 75.0 m in T1

- 24.9 m @ 4.5 g/t Au from 102.2 m in GMDDH2

- 52.0 m @ 2.1 g/t Au from 44.0 m in GMRC41

- 40.0 m @ 2.6 g/t Au from 32.0 m in GMRC74

In January 1998, an historic resource was calculated for Golden Mountain, using an ordinary kriged block model based on two sets of structural domains. The reported historic resource using a 0.7 g/t Au lower cutoff was:

- Measured 830,000 tonnes @ 1.5 g/t Au

- Indicated 248,250 tonnes @ 1.6 g/t Au

- Inferred 391,750 tonnes @ 1.8 g/t Au

The quoted resources are based on the report, "Resource Estimate for the Golden Mountain Project. Unpublished consultants report" by N Hanson of Visionary Earth Science dated January 1998. These data are historical in nature and were compiled prior to the implementation of Canadian NI 43-101 reporting standards. Tinka has not completed sufficient exploration to verify the estimates and is not treating them as National Instrument compliant resources or reserves verified by a qualified person and the historical estimate should not be relied upon. The Company believes this historical resource and the data used to compile the estimate - which represent the most recent estimates and data available - are generally reliable and relevant.

The qualified person as defined by National Instrument 43-101 is Mark Saxon, a member of the Australasian Institute of Mining and Metallurgy. Mr. Saxon has reviewed and verified the contents of this release.

On behalf of the Board,

Andrew Carter, President & CEO

Forward Looking Statements. This Company news 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 nor the Frankfurt Deutsche Borse have reviewed the information contained herein, and, therefore, do not accept responsibility for the adequacy or accuracy of this release.

Contact Information