Tinka Announces Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

Tinka Resources (TSXV: TK, OTCQB: TKRFF) held its Annual General and Special Meeting of Shareholders on March 26, 2025, with 43.00% of outstanding shares represented. Key approvals included:

• Election of six board members after Pieter Britz's withdrawal
• Ratification of stock option plan allowing grants up to 10% of issued shares
• Appointment of D&H Group LLP as auditors

Notably, disinterested shareholders approved both Nexa Resources S.A. and Compañia de Minas Buenaventura SAA to potentially become new 'Control Persons' if they exercise their warrants or participate in future financings that would increase their shareholdings to 20% or more, subject to TSX Venture Exchange approval.

Positive

• Approval for potential strategic investment expansion from major mining companies Nexa and Buenaventura
• Maintained continuity in board leadership with re-election of experienced directors

Negative

• None.

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Vancouver, British Columbia--(Newsfile Corp. - March 26, 2025) - Tinka Resources Limited (TSXV: TK) (BVL: TK) (OTCQB: TKRFF) ("Tinka" or the "Company") announces the results of the Company's Annual General and Special Meeting of Shareholders held on March 26, 2025 (the "AGM").

A total of 175,747,137 common shares were represented in person or by proxy at the AGM, representing 43.00% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders, as set out in the Notice of Meeting and Information Circular dated February 18, 2025, were voted in favour, with the adjustment to elect six members to the board of directors of the Company (the "Board") as Pieter Britz withdrew his nomination as a director. The following matters were approved at the AGM: (a) fixing the size of the Board of Tinka to six; (b) the re-election of Ben McKeown, Graham Carman, Nick DeMare, Mary Little, Raul Benavides and Jones Belther as directors for the ensuing year; (c) the ratification of the Company's stock option plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding common shares at the time of the grant; and, (d) the appointment of D&H Group LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing year at a remuneration to be determined by the Board.

Additionally, disinterested shareholders approved each of Nexa Resources S.A. ("Nexa") and Compañia de Minas Buenaventura SAA ("Buenaventura") becoming a new "Control Person" of the Company should either Nexa or Buenaventura exercise the warrants previously issued to each of them, or should Nexa or Buenaventura participate in further investments in the Company through private placements or other financings which would result in one or both such parties acquiring additional securities in the Company and, therefore, increasing their respective shareholdings to 20% or more of the issued and outstanding voting securities of the Company. Any future participation of Nexa or Buenaventura in a financing of the Company is subject to the approval of the TSX Venture Exchange.

Subsequent to the AGM, the Board re-appointed Mr. McKeown as Non-Executive Chairman, Dr. Carman as President and Chief Executive Officer, Mr. DeMare as Chief Financial Officer, and Ms. Mariana Bermudez as Corporate Secretary. Messrs. McKeown, DeMare and Ms. Little were re-appointed as members of the Audit Committee.

On behalf of the Board, "Graham Carman" Dr. Graham Carman, President & CEO	Further Information:  www.tinkaresources.com Mariana Bermudez 1.604.685.9316 info@tinkaresources.com
	Stay up to date by subscribing for news alerts at Contact Tinka and by following Tinka on X, LinkedIn and Facebook.

 

About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone at Ayawilca has an estimated Indicated Mineral Resource of 28.3 Mt grading 5.82% zinc, 16.4 g/t silver, 0.2% lead and 91 g/t indium, and an Inferred Mineral Resource of 31.2 Mt grading 4.21% zinc, 14.5 g/t silver, 0.2% lead and 45 g/t indium. The Silver Zone has an estimated Inferred Mineral Resource of 1.0 Mt grading 111.4 g/t silver, 1.54% zinc, & 0.5% lead. The Tin Zone has an estimated Indicated Mineral Resource of 1.4 million tonnes grading 0.72% tin and an Inferred Mineral Resource of 12.7 Mt grading 0.76% tin. The Company filed a NI 43-101 technical report on an updated PEA for the Ayawilca Project on April 15, 2024 (link to NI 43-101 report here). Dr. Graham Carman, Tinka's President and CEO, has reviewed, verified and approved the technical contents of this release. Dr. Carman is a Fellow of the Australasian Institute of Mining and Metallurgy, and is a Qualified Person as defined by National Instrument 43-101.

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 include, but are not limited to, statements regarding Nexa and Buenaventura becoming Control Persons of the Company and future financings of the Company. 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: regulatory approvals; volatility and sensitivity to market prices; timing of planned work programs and results varying from expectations; delay in obtaining results; 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 and operating performance; environmental and safety risks; timing of geological reports; the preliminary nature of the Ayawilca Project PEA and the Company's ability to realize the results of the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246211

FAQ

What key decisions were approved at Tinka Resources (TKRFF) March 2025 shareholder meeting?

Shareholders approved board size of six members, re-election of directors, stock option plan, appointment of auditors, and potential control person status for Nexa and Buenaventura.

What percentage of Tinka Resources (TKRFF) shareholders participated in the March 2025 AGM?

175,747,137 common shares were represented, accounting for 43.00% of total voting shares.

What is the significance of the Control Person approval for Nexa and Buenaventura in TKRFF?

It allows both companies to potentially acquire 20% or more of voting shares through warrant exercise or future financings, subject to TSX-V approval.

What is Tinka Resources' (TKRFF) stock option plan limit approved at the 2025 AGM?

The plan allows stock option grants up to 10% of issued and outstanding common shares at the time of grant.