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Politics : Gold and Silver Stocks and Related Commentary

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To: TheBusDriver who wrote (9018)	3/17/2005 3:43:43 PM
From: loantech	Read Replies (1) of 18308

Tinka arranges exploration partnership for Peru 2004-06-01 20:17 ET - News Release Mr. Andrew Carter reports NEW EXPLORATION ALLIANCE PROVIDES TINKA RESOURCES WITH ACCESS TO US$10 MILLION PROPRIETARY PERUVIAN DATABASE AND CAPABILITY TO GENERATE DRILL TARGETS IN THE NEAR TERM Tinka Resources Ltd. has entered into an agreement with Sierra Peru Pty. Ltd., a privately held Australian corporation at arm's length to the company, to form an exploration alliance to define gold and silver targets throughout Peru. Sierra is represented by professional geologists Mark Saxon and Michael Hudson who have extensive field experience in Peru, and Sierra is the owner of a geological database covering Peru which cost approximately $10-million (U.S.) to compile. Sierra has consulted to a number of resource companies throughout Peru and has developed a proprietary methodology for targeting gold and silver. The agreement provides Tinka with the right of first refusal on all targets defined by Sierra for a period of two years. In return, Sierra will receive 250,000 fully paid shares of Tinka. Should a project be subject to a successful feasibility study, Sierra will receive a further 500,000 fully paid shares and a 1-per-cent net smelter return royalty (NSR) on any production. This NSR can be purchased by Tinka at any time for $1-million. The agreement is subject to regulatory approval. Tinka views the exploration alliance with Sierra as the foundation of the new exploration program, launched by the company in Peru, with the potential to quickly identify and prioritize targets. Andrew Carter stated: "The exploration alliance provides Tinka with the data and skills of a major mining company and we are extremely pleased to have secured the right of first refusal on all projects defined by Sierra. Target generation has commenced and further information will be announced shortly." new.stockwatch.com

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