VANCOUVER, July 19, 2017 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV:
TK) (OTCPK: TKRFF) announces that Dr. Graham Carman, President, CEO and director of
Tinka, has exercised his Tinka stock options (the "Stock
Options") to purchase 1,700,000 common shares of Tinka (the
"Tinka Shares") which were due to expire on August 5, 2017, with an exercise price of
$0.37 per share, generating total
proceeds to Tinka of C$629,000.
In order to fund the exercise of the Stock Options, Dr. Carman has
agreed to sell approximately 860,000 common shares of Tinka in a
series of private transactions designed to minimize the impact on
the stock price. As a result of the exercise of the Stock Options
and sale of the Tinka Shares, Dr. Carman has increased his overall
investment and share ownership in the Company.
Dr. Carman plans to maintain his remaining holdings in Tinka for
investment purposes and may, in the future, take such actions in
respect to his holdings as he deems appropriate in light of
circumstances then existing. Any additional acquisitions or
dispositions by Dr. Carman will be reported in accordance with
National Instrument 55 – 104.
About Tinka Resources Limited
Tinka is an exploration
and development company with its flagship property being the
100%-owned Ayawilca Property in the zinc-lead-silver belt of
central Peru, 200 kilometres
northeast of Lima. The Ayawilca
Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 8.2% Zinc
Eq, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.89% Tin
Eq, both open for expansion (May 25,
2016). The Silver Zone at Colquipucro, 2 km north of the
Zinc Zone, has Indicated Mineral Resources of 2.9 Mt at 112g/t Ag
for 10.4 Moz Ag and Inferred Mineral
Resources of 2.2 Mt at 105g/t Ag for 7.5 Moz Ag hosted by oxidized silver-rich lenses
less than 80 metres from surface (Feb. 26,
2015). 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, the Company's expectations
regarding mineral resource calculations, 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, community
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.
SOURCE Tinka Resources Limited