TSXV & BVL:TK | OTCPK: TKRFF www.tinkaresources.com

Corporate Presentation – May 2019

This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Tinka, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever.

Certain information in this presentation 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 but not limited to, all costs varying significantly from estimates, production rates varying from estimates, changes in metal markets, changes in equity markets, availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates or metal recoveries, ability to complete future drilling programs, drilling program results varying from expectations, delays in obtaining survey results, success of future development initiatives, the completion and implementation of a preliminary economic assessment, pre-feasibility or feasibility studies, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from local authorities, community relations, timing and completion of any surface rights agreements, 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.

The Mineral Resources disclosed in this company presentation have been estimated by Mrs. Dorota El Rassi, P.Eng., and Mr. David Ross, P.Geo., both employees of RPA and independent of Tinka. The Zinc/Tin Mineral Resources were publicly released on November 26, 2018, while the Silver Resources were released on Feb 26, 2015. By virtue of their education and relevant experience, Mrs. El Rassi and Mr. David Ross are "Qualified Persons" for the purpose of National Instrument 43-101. The Mineral Resources have been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014). Readers are encouraged to read the Company’s technical report in their entirety.

This presentation has been prepared, reviewed and verified by Dr. Graham Carman, Tinka’s President and CEO and a Fellow of the Australasian Institute of Mining and Metallurgy, a qualified person as defined by NI 43-101.

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Disclaimer

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Company Snapshot

Ayawilca

Peru

Tinka (TSXV:TK) is a CAD$95M market cap company focused on advancing its 100%-owned Ayawilca Zinc Project in Peru

Peru: A “top-two” zinc & copper mining country

Ayawilca is a zinc discovery made by Tinka with current resource (Nov. ‘18): 1.8 billion pounds Zinc Indicated plus 5.6 billion pounds Zinc Inferred One of the largest undeveloped Zinc projects in the world

Preliminary Economic Assessment (PEA) results expected by mid-2019

Additional discovery potential – drilling recommenced April 2019

Strong institutional investor base and over CAD$12 million in cash (Dec/18)

Management with proven track record in Peru

Zinc inventories are at an 11 year low and there is a scarcity of new zinc projects in the development pipeline

The Ayawilca zinc project has the size, grade and infrastructure to meet future zinc market needs

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Zinc – A Metal We Can’t Live Without

Dominant use is for galvanization (rust protection) of steel plating used in construction, automobiles and home appliances – steel lasts 12 times longer when galvanized

Used to create the alloys brass and bronze, die castings, and in a variety of medical products, chemicals and paints

Critical to human health and for agricultural crop production – zinc fertilizers increase crop yields by ~40%

One of the original “battery metals” – zinc air batteries show great promise for utility scale energy storage

Galvanizing 50%

Zinc Alloying 17%

Brass and Bronze

17%

Zinc Semi-Manufactures

6% Chemicals

6%

Other 4%

Source: International Lead and Zinc Study Group (ILZSG)

Zinc End Uses

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Zinc Supply Constraints

Zinc inventories have declined to 11 year lows and are at critical levels

Low zinc prices from 2008 to 2016 resulted in minimal zinc exploration investment, leading to few new discoveries

China is the main producer of zinc, but in recent times has been a net imp

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Not Enough Zinc Projects in Pipeline

Chinese mine production declined 27% in 2018 due to tighter environmental standards

Zinc grades at operating mines continue to decline

Mine supply is forecast to peak in 2021, then a rapid supply gap if not enough development projects

Teck considers a giant zinc deposit to be > 6Mt Zn+Pb

Ayawilca is currently 3.5Mt Zn+Pb and 4.8Mt ZnEq (including tin) with potential to grow more

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Giant Zinc Deposits

Ayawilca – Zn +Pb only

Ayawilca – ZnEq including tin

Few quality projects are located in lower risk jurisdictions or have good infrastructure

Ayawilca is a large, high grade resource with road access, power lines, and water

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Notes: - Data from company websites, believed to be accurate - ZnEq based on spot metal prices on Nov. 22, 2018 - Global resources include Measured & Indicated and Inferred resources. Vazante and Cerro Lindo data only reflects Reserves.

Ayawilca Project Stands Out

Fireweed-Tom&Jason

NEXA-Aripuana

Zinc X-Akie

Rathdowney-Olza

Trevali-Caribou

Vendetta-Pegmont

Trevali-Santander

Foran-McIlvenna Bay NEXA-Vazante

NEXA-Cerro Lindo

NEXA-Shalipayco

Tinka-Ayawilca2018

Tinka-Ayawilca2018+Tin

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0

- 10 20 30 40 50 60 70 80 90

Glo

bal

Re

sou

rce

/Re

serv

e

(B

illo

ns

of

po

un

ds

of

Zin

c Eq

uiv

ale

nt)

Global Resource Size (Mt)

Zinc Equivalent Resource Size for Selected TSX/TSXV Companies

Producing mine

Development project

Ayawilca project - Zn

Ayawilca project - Zn+Sn

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Market Capitalization & Investors

TSXV & BVL: TK | OTCPK: TKRFF

Shares Issued: 264.6 M

Options 11.6 M

Warrants (12.4M @ $0.45) 12.4 M

Fully diluted: 289.1 M

Market cap @ C$0.35/share: C$93 M

Cash (Sep. 2018): ~C$13 M Analyst Coverage

Ian Parkinson

Kevin MacKenzie

George Topping

Major Shareholders

Institutional:

Sentient Equity Partners 24%

IFC (World Bank) 11%

JPMorgan UK 7%

Other institutions ~10%

Total institutional 52%

Management & insiders 2%

Retail/other 46%

Management – Extensive Peru and Zinc Experience with Past Successes

Dr Graham Carman President & CEO, Director Geologist, 25 years global exploration experience with Rio Tinto, Savage, Pasminco, juniors.

Alvaro Fernandez-Baca VP Exploration, Peru Geologist, 20 years global exploration experience with Gitennes, AQM Copper & Hochschild.

Cesar Carbajal HSEC Manager Social management specialist, 15 years experience with Teck, MWH, Peru Ministry of Mines.

Mariana Bermudez Corp. Secretary 20 years regulatory compliance services experience.

Nick Demare CFO, Director CPA, CA, extensive junior board experience.

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Management & Board

Independent Directors

Ben McKeown Chairman of the Board. Mining engineer, MBA, with 25 years experience in mining, oil & gas, and private equity.

Pieter Britz Sentient Group representative. Professional engineer with over 20 years’ experience as a mining professional and as a mining investment professional.

Mary Little Founder of Mirasol Resources, geologist, MBA, 20 years in Latin America.

Mineral Rank in

World 2018

Latin

America 2018

Zinc 2nd 1st

Copper 2nd 2nd

Tin 4th (tie) 3rd (tie)

Lead 3rd 1st

Silver 2nd 2nd

Gold 6th 1st

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Peru – A Mining Country

Pro-mining country – mining accounts for over 50% of exports

Peru is a top two global producer of zinc, copper, and silver

Ayawilca Project

Las Bambas

Antamina

Central Peru zinc belt

CHILE

BOLIVIA

BRAZIL

ECUADOR

San Rafael

Source: USGS 2018

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Antamina: Largest current copper/zinc

mine in Peru

Cerro de Pasco: Largest historic silver/zinc mine

in Peru

Giant Ore Deposit

Central Peru – Mines & Infrastructure

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Ayawilca Geology & Mineralization

Ay

aw

ilc

a F

oc

us

Are

a -

Pla

n V

iew

with

G

eo

log

y

Tinka owns 170 km2 of mining claims (100%)

Good infrastructure - power, roads, water

Tinka Claim

Boundary

Ay

aw

ilc

a C

laim

Ma

p

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Ayawilca Long Section (SW to NE) A

ya

wilc

a L

on

g S

ec

tio

n A

-A’

Mineralization is hidden in limestone layer underneath sandstone

Zinc sulphides overprint deeper tin mineralization, both styles hosted by massive sulphides

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2018 Mineral Resource Upgrade C

ross

Se

ctio

n B

-B’

Cro

ss S

ec

tio

n C

-C’

Inf. 2015; 2,258

Inf. 2016; 3,385 Inf. 2017; 6,873

Ind. 2018; 2,149

Inf. 2018; 6,738

0

10

20

30

40

50

60

2014 2015 2016 2017 2018 2019

Re

sou

rce

s (M

t)

Ayawilca Resource Growth 2015 to 2018

Bubble size indicates contained zinc-equivalent pounds (Mlbs)

INFERRED

INDICATED

West Ayawilca and South Ayawilca zones contain thickest and highest grade mineralization

West and South zinc zones are close to surface and can be accessed by ramp and bulk mined from underground

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Zinc Resource Base Case (Nov. 2018 @ $55 NSR cut-off)

~68,000 metres drilled since 2012

1.8 billion pounds of zinc in Indicated category (24% of total)

5.6 billion pounds of zinc in Inferred category (76% of total)

High-grade zinc zones at West and South Ayawilca can be targeted for early mining

Category/Area Tonnage

(Mt) ZnEq (%)

Zn (%)

Pb (%)

Ag (g/t)

In (g/t)

Zn (Mlb)

Pb (Mlb)

Ag (Moz)

In (t)

Indicated

West 7.8 7.7 6.5 0.20 15 72 1,126 35 3.9 561

South 3.9 9.1 7.6 0.09 16 108 652 8 2.0 422

Total Indicated 11.7 8.1 6.9 0.16 15 84 1,778 42 5.8 983

Inferred

West 5.0 7.1 6.4 0.27 17 34 699 30 2.8 170

Central 18.6 5.6 4.6 0.23 12 62 1,884 95 7.5 1,153

East 11.3 5.9 5.0 0.18 14 56 1,238 44 5.0 633

South 10.2 9.6 7.9 0.27 30 103 1,764 61 9.9 1,047

Total Inferred 45.0 6.7 5.6 0.23 17 67 5,585 230 25.2 3,003

Notes:

• CIM definitions were followed for Mineral Resources.

• Mineral Resources are reported above a cut-off NSR value of

US$55 per tonne.

• The NSR value was based on estimated metallurgical

recoveries, assumed metal prices and smelter terms, which

include payable factors, treatment charges, penalties, and

refining charges. Metal price assumptions were: US$1.15/lb

Zn, US$300/kg In, US$15/oz Ag, and US$1.00/lb Pb. Metal

recovery assumptions were: 90% Zn, 75% In, 60% Ag, and

75% Pb. The NSR value for each block was calculated using

the following NSR factors: US$15.34 per % Zn, US$4.70 per %

Pb, US$0.18 per gram In, and US$0.22 per gram Ag.

• The NSR value was calculated using the following formula:

NSR = [Zn(%)*US$15.34+Pb(%)*US$4.70+

In(g/t)*US$0.18+Ag(g/t)*US$0.22]

• The ZnEq value was calculated using the following formula:

ZnEq = NSR/US$15.34

• Numbers may not add due to rounding.

• “Inferred Mineral Resources” have a great amount of

uncertainty as to their existence, and as to their economic and

legal feasibility. It is reasonably expected that the majority of

Inferred Mineral Resources could be upgraded to Indicated

Mineral Resources with continued exploration. United States

investors are cautioned not to assume that all or any part of

Measured or Indicated Mineral Resources will ever be

converted into Mineral Reserves. United States investors are

also cautioned not to assume that all or any part of an Inferred

Mineral Resource exists, or is economically or legally

mineable.

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Ayawilca Zinc Zone Cut-off Sensitivity

Zinc Zone Indicated Mineral Resources NSR US$/t

Cut-off

Tonnage

(Mt)

ZnEq

(%)

Zn

(%)

Pb

(%)

Ag

(g/t)

In

(g/t)

40 13.6 7.4 6.3 0.16 15 75

50 12.4 7.9 6.7 0.17 15 80

55 (Base Case)

11.7 8.1 6.9 0.16 15 84

60 10.8 8.5 7.2 0.16 16 89

70 9.4 9.2 7.7 0.15 16 99

80 7.9 10.0 8.4 0.15 17 111

NSR US$/t

Cut-off

Tonnage

(Mt)

ZnEq

(%)

Zn

(%)

Pb

(%)

Ag

(g/t)

In

(g/t)

40 52.7 6.2 5.2 0.24 17 60

50 48.1 6.5 5.4 0.24 17 64

55 (Base Case)

45.0 6.7 5.6 0.23 17 67

60 41.5 7.0 5.8 0.23 18 70

70 33.9 7.6 6.4 0.22 18 78

80 26.9 8.3 6.9 0.22 20 86

Zinc Zone Inferred Mineral Resources

See resource table for notes and ZnEq calculations

Base case resources calculated at $55/tonne cut-off)

At $80/tonne cut-off the Zn grade is higher by 1.5% - provides optionality for improved margins with a smaller operation, if desired

Ayawilca Zinc Resources & Magnetics

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South

Ayawilca

Chaucha

Zone 3

West

Ayawilca

Valley

Central

Ayawilca

500 m.

Colquipucro

East

Ayawilca

Zinc zone projected resources

(Nov. 2018)

Zinc zone – Indicated resource

(Nov. 2018)

Tin zone projected resource

(Nov. 2018)

Silver oxide resources

(Feb. 2015)

Drill hole

Most of the current, known zinc and tin mineralization occurs along a 5 km long magnetic anomaly

Zinc is not magnetic, so additional mineralization may be hidden under sandstone cover

170km2 Ayawilca property has numerous untested target areas

2019 Drill Program – Underway

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Drilling to commenced April 2019

Exploration drilling will target repeats of the mineralized limestone beneath the current zinc resources at West and South Ayawilca

Up to 10,000 metres of drilling, at least six holes planned to an average depth of ~600 metres

Most holes are ‘dual purpose’ to first infill the current resource

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Ayawilca PEA and Exploration in 2019

Preliminary Economic Assessment - PEA Wood plc (formerly Amec Foster Wheeler) is the lead engineering firm for study

Initial assessment of current project size, capital, economics, etc. – By end of June 2019

Planned Programs Going Forward (subject to favourable economic studies and financing)

Exploration drilling /PEA in 2019

PFS in 2020 (subject to results of drill program in 2019 which could push timetable out)

Targeting a potential production scenario by 2023-2024…

Resource Definition

Preliminary Economic Assessment

Prefeasibility Study & Engineering

Feasibility Study &

Permitting Production

2015-2019..

2019

2020-21? 2021-22?

2023?

Ongoing 10 year partnerships with three communities

Social engagement and sustainable development programs in place

Employment during drill programs (road and drill pad construction) and Ayawilca camp

IFC (World bank) providing guidance

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Community & Environment

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Tin Resources at Ayawilca Nov. 2018

Believed to be the largest tin resource in Peru outside of Minsur’s San Rafael project

Cassiterite is the main mineral, fine-grained, requires additional metallurgical testing

Tin is currently trading at over US$9/lb, approximately 7 times the value of zinc

Tin is primarily used in tin plated steel, chemicals, solder, and alloys, with increasing use in technology and electric vehicles

Ayawilca Tin Zone Inferred Mineral Resources

NSR US$/t

Cut-off

Tonnage

(Mt)

SnEq

(%)

Sn

(%)

Cu

(%)

Ag

(g/t)

40 17.1 0.65 0.57 0.20 18

50 15.9 0.67 0.60 0.20 18

55 (Base Case)

14.5 0.70 0.63 0.21 18

60 12.5 0.76 0.68 0.22 17

70 10.1 0.84 0.76 0.23 18

80 8.3 0.92 0.84 0.25 19

Notes:

• CIM definitions were followed for Mineral Resources.

• Mineral Resources are reported above a cut-off grade of US$55 per tonne NSR value.

• The NSR grade was based on estimated metallurgical recoveries, assumed metal prices and

smelter terms, which include payable factors, treatment charges, penalties, and refining

charges. Metal price assumptions were: US$9.00/lb Sn, US$2.85/lb Cu, and US$15/oz Ag.

Metal recovery assumptions were: 86% Sn, 75% Cu, and 60% Ag. The NSR value for each

block was calculated using the following NSR factors: US$155.21 per % Sn, US$37.59 per %

Cu, and US$0.22 per gram Ag.

• The NSR value was calculated using the following formula:

US$NSR = [Sn(%)*US$155.21+Cu(%)*US$37.59+Ag(g/t)*US$0.22

• The ZnEq value was calculated using the following formula: SnEq = NSR/US$155.21

• Numbers may not add due to rounding.

• “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as

to their economic and legal feasibility. It is reasonably expected that the majority of Inferred

Mineral Resources could be upgraded to Indicated Mineral Resources with continued

exploration. United States investors are cautioned not to assume that all or any part of

Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United

States investors are also cautioned not to assume that all or any part of an Inferred Mineral

Resource exists, or is economically or legally mineable.

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Why Tinka?

Ayawilca is one of the largest discoveries in Peru in last 20 years

Zinc leverage – 2018 resource contains 1.8 billion pounds Zn Indicated plus 5.6 billion pounds Zn Inferred, with potential to expand more

Zinc, indium, silver, lead (tin) - multi-commodity exposure

Steady news flow in 2019 (including PEA and drill results)

Positioned to be one of the best large zinc development projects in the Americas

Low valuation – valued at US$0.007 / ZnEq lb

C$12M in cash (Dec. 2018) – sufficient to keep advancing project in 2019

Suite 1305 - 1090 West Georgia St Vancouver, BC V6E 3V7

CANADA

Ph: +1 604 699-0202 Fax: +1 604 683-1585

CORPORATE OFFICE

FOR MORE INFORMATION

Dr. Graham Carman, President & CEO info@tinkaresources.com

Rob Bruggeman, Investor Relations rbruggeman@tinkaresources.com

+1 416 884-3556

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Tinka Resources Limited