Tintina Resources Inc. (TSX VENTURE:TAU)(OTCQX:TINTF) is pleased to announce that it has filed a National Instrument 43-101 compliant updated technical report for its 100% owned Black Butte Copper project entitled “Updated Technical Report and Preliminary Economic Assessment for the Black Butte Copper Project, Montana” dated July 12, 2013. The report is available on the Company’s SEDAR profile at www.sedar.com. The Updated PEA disclosed in the report was announced in the Company’s June 24, 2013 news release.
 

Please note that the Updated PEA is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and that there is no certainty that the Updated PEA will be realized. Please see the important disclosure under “Cautionary Note Regarding the Updated PEA” below.
 

PEA HIGHLIGHTS

--  Initial estimated startup capital of $217.8 million including a 22%

    contingency of $33.3 million. Estimated sustaining capital is $114.7

    million over an 11 year mine life

--  Base case using long-term copper price of $3.05 / pound (lb)(i)

    --  Pre-tax NPV of $218 million at an 8% discount rate with an IRR of

        30.5% and 3.6 year payback

    --  Post-tax NPV of $110 million at an 8% discount rate with an IRR of

        20.2% and 4.7 year payback(i)(i)

--  Underground mining operation with 11-year mine life at a nominal

    processing rate of 3,300 tonnes (t) per day using a conventional

    flotation circuit producing a single copper concentrate

--  Average annual payable metal production estimated at 62.06 million

    pounds of copper

--  Life-of-mine payable metal production estimated at 682.62 million pounds

    of copper

--  Operating cost $66.48/t milled; cash cost $1.81/lb copper (including

    royalty)

--  The Life of Mine copper recovery is estimated to average 88.3%

(i) $3.05/lb copper price is based on the Energy and Metals Consensus Forecast’s (EMCF) Mean price as of April 26, 2013 (the “EMCF Price”). The EMCF Price is a forward looking consensus of metal prices among 20 leading international financial institutions and is published by Consensus Economics, UK.
(ii) Post-tax economic values were calculated by applying the following taxes based on enacted tax law and regulations as of June 10, 2013: United States Federal corporate income taxes, Montana State income taxes, Montana metalliferous mines license taxes, and Montana mines gross proceeds taxes. The calculation of post-tax economic values did not account for loss carry forwards and unutilized tax pools which would be expected to reduce actual taxes payable.
 

UPDATED PEA CONTRIBUTIONS AND QUALIFIED PERSONS
 

The Updated PEA and resource estimates have been prepared in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument (NI) 43-101 of the Canadian Securities Administrators. The technical contents of this release and all technical information relating to the Updated PEA have been reviewed and approved by Srikant Annavarapu, P.Eng. (AMEC), Art Winckers, P.Eng. (Arthur H. Winckers and Associates Inc.), Mike Lechner, P.Geo. (Resource Modeling Inc.), Wayne Stoyko, P.Eng. (Tetra Tech), and Jianhui Huang, P.Eng. (Tetra Tech), the Qualified Persons responsible for preparation of the Updated PEA, each of whom have verified the technical data, qualifications, and assumptions in this release and are independent of Tintina.
 

Jerry Zieg, Vice President of Exploration for the Company, is a Qualified Person for the purposes of NI 43-101 and has also reviewed and approved the information of a scientific or technical nature contained in this news release. Assays for this program have been completed by ALS Chemex including duplicates, standards, and blanks for QA/QC purposes.
 

ABOUT TINTINA RESOURCES INC.

Tintina Resources Inc. is a growth company focused on the exploration and development of base metal properties in North America. The Company’s experienced Board of Directors and Management Team is currently focused on advancing the Black Butte Copper Project located in central Montana towards a production decision.