From the Desk of Nick Nicolaas - Alert #10

February 15, 2004

Re: Tinka Resources (TSXv – TK.V) seen as “a Rising Star”

Dear Friends:

On August 18, 2003 with the stock price @ $0.37 I introduced Tinka Resources to you as a “Ground-Floor Investment Opportunity”. It is now trading last @ $0.53 and I still see it as an excellent Ground-Floor Risk/Reward investment opportunity as do others with an example noted below.

Regards,

Nick Nicolaas

Tinka Resources TK: TSXV – Silver, Copper, Gold

We spoke to Andrew Carter, president of Tinka Resources Limited (TK-TSXV) at the Vancouver Mining Conference on January 25th and 26th , 2004.

The Good News Story

Tinka is exploring in two countries – Peru and Argentina

Argentina

On January 6th, IMA exploration (IMR V) announced very significant silver finds in its

100% owned Navidad Silver discovery. IMA has jumped from approximately $2.00 to $3.70 on the release of this news. We feel that this is one of the significant, if not the most significant find from the world’s drilling projects in 2003.

Just prior to IMA’s announcements, Tinka signed an agreement with IMA over the Sierra-1 property, which is located just south of the IMA Navidad silver discovery. The Sierra-1 property covers the southerly continuation of the same formation in which the Navidad silver prospect has been discovered. Preliminary stream sediment sampling has shown anomalous copper and lead values.

Peru

The company has an option with Tumi Resources (TM V) to earn a 70% interest in 4 claims in Southern Peru by expending US $2.5 million over 3 years amongst other payments. Tinka has committed to a minimum expenditure of $130,000 in the first year, including a drill program. On January 13th 2004 Tinka released results of its electromagnetic surveys and first phase drilling program. The electromagnetic survey defined six distinct electromagnetic anomalies up to 1 km in length. The company completed three drill holes and all hit mineralization including a high of 1.11% copper over 2 meters from 18 to 20 meters down-hole. The company is currently assessing data from the first phase program in order to plan for second phase work program.

The company also has a 100% interest in the Pancoy Gold Prospect that is a 2700 hectare property 100 kms south of the city of Ayacuho. Rock chip samples in the Pancoy area have yielded gold deposits in deposits up to 1.27 g/t and much less. The results suggest that the Pancoy area has the potential to host a large low-grade gold deposit but further work is justified to determine the extent of the any potential deposit.

The People

We spoke at length with Andrew Carter and we were very impressed with his candor. Mr. Carter entered the mining industry in the 1970’s, managing exploration crews in the Leonora and Kimberly regions of Western Australia. In 1988, Mr. Carter was appointed Chief Executive of RAC Finance Limited. We have been advised that this company was involved in many mining financings. During this time, Mr. Carter was also appointed Chairman and Director of Australian Finance Conference Limited, the national industry association, and represented the industry as a panel member of the Commercial Tribunal for Western Australia. In 1999, Mr. Carter relocated to Vancouver where he has been providing services as an independent corporate consultant before taking on the position of CEO of Tinka Resources.

Conclusion

The company’s main selling point is the fact that its Argentinean property is close to what appears to be a significant silver deposit discovered recently by IMA. The Navidad discovery makes this company an interesting area play, which has the potential to enhance the share value considerably. At the current share price of $0.50, and with a market cap of only 4 million dollars, it is a relatively low risk play (as juniors go) for a significant capital gain.

Dave and Toni Skarica

February 2004

Explore the Rising Stars is published in coordination with Addicted to Profits.

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