Tinka acquires minority stake in Huwaymidan project

Executive Summary

• Tinka Resources Ltd., via its wholly‑owned subsidiary, acquired a 5 % carried interest in the Huwaymidan gold exploration property in Saudi Arabia.
• The concession was obtained through a competitive tender (Round 6) and will be financed and capitalized by Tinka’s Saudi partner for the first two years of the program.
• Exploration is slated to begin in September 2025 with mapping, sampling, geophysics and an initial shallow drill campaign planned for late‑2025.

Key Details

• Ownership Structure: Midad Al Mona Mining Company holds 94 % (Saudi partner Kalimat Al Hikma), Tinka Saudi Resources Corp. holds 5 %, and Orthosa Pty. Ltd. holds 1 %.
• Property Size & Location: 34 km² in the Jiddah terrane, ~300 km east of Jeddah, Saudi Arabia; excellent road access.
• Historical Data: Surface trench sampling returned up to 10 g/t Au over 2.5 m within a 1‑km strike zone; no prior drilling recorded. Recent check samples (Jan 2025) graded up to 6 g/t Au.
• Exploration Plan: Fieldwork starts Sep 2025 (mapping, rock sampling, ground magnetics); shallow drill program slated for late 2025; no additional permitting required.
• Financing: All exploration and administration costs for the first two years covered by Kalimat Al Hikma, estimated up to CAD 2.3 M. Consulting fees to Tinka capped at US$250,000 over two years.
• Future Interest: After two years, Tinka may retain its interest via a renewed consulting agreement or financing arrangement, subject to meeting KPIs (including successful drill program).
• Strategic Rationale (CEO Quote): “This new venture in Saudi Arabia is an exciting opportunity… no upfront funding required by Tinka, and we will be paid for all services provided.” – Dr. Graham Carman, President & CEO.

Notable Quotes

“Tinka gains critical access through this relationship to exploration and capital market opportunities in the Middle East… Importantly, the Saudi venture will not detract from our focus in Peru.” – Dr. Graham Carman, President & CEO.