TINONE REPORTS COMPLETION OF SUCCESSFUL PHASE 1 DRILL PROGRAM AND DISCUSSES

TSX.V: TORC OTCQB: TORCF

TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) (” TinOne ” or the ” Company “) is pleased to announce it has completed its Phase 1 drill program at its Great Pyramid Tin (Sn) Project (” Great Pyramid ” or the ” Project “) located in the tier one mining jurisdiction of Tasmania, Australia .

Drilling has now concluded with a total of 4,687 metres completed and data compilation and modelling are underway. The program has been successful in continuing to define significant tin mineralization near surface, at depth and adjacent to historical drilling.

Highlights

Great Pyramid mineralization extended to approximately 380 metres below surface.
Interpreted granite source not encountered, therefore mineralization remains entirely open at depth.
Mineral Resources Tasmania geophysical modelling interprets granite at depth below Great Pyramid in the range of 700 – 1300 metres.
Mineralization remains open in all directions laterally.
Integrated stratigraphic-structural model being developed to assist numeric modelling.

“We are very pleased to have completed our Great Pyramid Phase 1 drill program safely and within budget,” commented Chris Donaldson , Executive Chairman. “The results of the program have been outstanding in delivering consistent tin intersections from within the area of historical activity and, importantly, outside this area. These results and geological interpretation indicate that the Great Pyramid system is of significant scale and has only been partially tested, to date. Our geological team is developing its detailed interpretation and will be using this information to plan our next phases of drilling which will be focussed on fully testing the system.”

Key Results

The 2022 program was designed to:

Test the depth and lateral dimensions of mineralization within the vicinity of the historical drilling and resource estimate;
Obtain grade and continuity data utilising modern drill and analytical techniques, within the area of the historic exploration activity; and
Test a large-scale IP chargeability anomaly adjacent to the historic resource.

Tables 1 and 2 present full results from the 2022 program and compiled results from all historical drilling known from the Great Pyramid area. The tables show that the 2022 program returned results in line with historical data and includes outstanding intersections of higher grade such as:

22GPRC012 78 metres @0.51% Sn (see Company news release September 06, 2022 )
22GPRC016 51 metres @0.29% Sn (see Company news release September 06, 2022 )
22GPRC021 14 metres @0.36% Sn (see Company news release January 18, 2023 )
22GPRC022 15 metres @0.45% Sn (see Company news release October 11, 2022 ).

The 2022 Great Pyramid drill program was highly successful in confirming the presence and tenor of significant tin mineralization in the area of historical drilling activity and historical resource estimate. Weighted average tin grade for all 2022 recorded intersections ¹ was 0.23% Sn which is in accord with historical drill data (Tables 1 and 2).

In addition, the program successfully defined significant mineralization at depth below the historical resource estimate in the area of sparse historical drilling. Highlights at depth included:

22GPRC003 (see Company news release November 22, 2022 )

18 metres @0.31% Sn from 308 metres downhole
5.4 metres @0.46% Sn from 330.6 metres downhole
13 metres @0.22% Sn from 359 metres downhole

22GPRC006 (see Company news release September 06, 2022 )

49 metres @0.17% Sn from 65 metres downhole

Including 8 metres @0.3% Sn from 86 metres downhole

These TinOne drill holes and the historical data have not defined the lower limit of the system, which remains entirely open at depth.

A relatively minor component of the program was directed to testing the lateral extent of mineralization due to access, with the network of historical drill access tracks being utilized to obtain a more cost effective drill program for this first round of drilling. However, despite this, the program has also delivered significant results laterally away from the historical drilling and resource estimate, with highlights including: