Tinka Resources Limited

October 21, 2008 09:30 ET

Tinka Identifies Further Surface Mineralization At Colquipucro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2008) - Tinka Resources Limited (the "Company") (TSX VENTURE:TK)(PINK SHEETS:TKRFF)(FRANKFURT:TLD). Andrew Carter, President of Tinka, reports that the Company has identified further surface mineralization at the Company's 100% owned Colquipucro silver-lead-zinc project, west-central Peru. Results have been received from further soil and rock sampling programs undertaken at the Chaucha zone located between 0.5 km and 1.0 km east of Zone 1 which was drill tested last year (see press release dated December 13th, 2007). An independent NI43-101 report, which was completed in April 2008, determined an inferred silver resource at Zone 1 of 20.3 million ounces silver with an immediate potential contiguous target (see press release dated April 24 for details of the report).

At the Chaucha zone, highly anomalous Zn, Pb and Ag values in soil samples cover an area roughly 800m east-west by up to 500m north-south. The anomalous zones are largely covered with overburden, but gossanous clinker and "manto-style" mineralization (iron and manganese oxides) has been observed nearby both in the Pucura limestone and the overlying Goyllarisquisga Sandstone. Of considerable interest are the anomalies that underly the northwestern part of the soil grid at Chaucha. These samples appear to be underlain by schists of the Excelsior group, an older group of rocks that underly the Pucura limestone. Mineralization has not been identified in these rocks previously.

Immediately north of and topographically below the westernmost soil lines occurs a zone of clinkery gossan outcroppings hosted by both the Pucura limestone and the Excelsior schists. This gossan zone has been traced over an area roughly 350m by 100m and appears to be following a major NW-SE trending fault structure. It has been suggested that this area might be the feeder zone to the mineralization found at Zone 1, higher in the section; anomalous levels of gold and slightly elevated copper values were obtained in the samples taken from the Excelsior Group. At present, the Chaucha zone remains open to the west and northwest, and further work is required to better define and assess the potential of this area.

A total of 35 rock samples have been taken from this new zone, and most of them returned highly anomalous to percent-grade values in zinc and moderately to strongly elevated levels in silver. The table below highlights some of the intercepts from this zone.

Width (m) Silver (g/t) Zinc (percent)
13.0 25 1.6
Including 4.0 35 2.2
8.4 155 4.0
9.5 11 1.3
3.2 28 1.2

The President of Tinka, Mr. Andrew Carter says; "We are very pleased with the continuing discovery at Colquipucro of surface mineralization that is geologically and structurally similar to Zone 1, which was drilled in 2007, and identifying further potential drill targets."

The application for the Phase 2 diamond drill program has been lodged with the relevant Peruvian authorities and the Company is waiting for approval.

The Company's Qualified Person, John Nebocat (P.Eng.), has reviewed and approved the contents of this news 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.

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