Tintina Resources Welcomes New Strategic Partner at Black Butte Copper Project - Seite 2

The warrants are subject to early expiry, if, over twenty consecutive trading days in the last three months prior to the natural expiry date of each class of warrants, the Volume Weighted Average Price of Tintina's shares on the TSX-V is at least 120% of the exercise price and Sandfire does not exercise the relevant class of warrants in full. Early expiry of any class of warrants causes all subsequent warrants to also expire.

The transaction is subject to the approval of the TSX-V and will require shareholder approval of Sandfire as a new "control person". Tintina's existing strategic shareholders, Quantum Partners LP and Electrum Strategic Metals LLC, who together hold approximately 57.9% of the currently outstanding shares, have agreed to vote for the completion of this transaction and accordingly shareholder approval will be obtained by consent.

Following the closing of the transaction, the Company will have cash on hand of ~$18.5 million with approximately 222 million shares outstanding.

As part of the transaction, Tintina will grant Sandfire the right to nominate the President and Chief Executive Officer and two members of the Tintina Board. At closing, Mr. Bruce Hooper, Sandfire's Chief Business Development Officer, will be appointed President and Chief Executive Officer and a director of Tintina on a secondment basis, in place of Mr. Gerald Booth, Tintina's Interim CEO and a director, who was planning to retire. In addition, Sandfire will be granted the right to participate in future financings on a pro-rata basis. These various investor rights will remain in place for as long as Sandfire's ownership in the Company is 30% or more on a non-diluted basis.

VP of Exploration Jerry Zieg states, "This investment by Sandfire is a very welcome development for our community and statewide in Montana. What a great opportunity for all of us to be a part of creating a new economic driver for Central Montana. We welcome Sandfire's assistance and their exceptional technical and operational expertise. We are also pleased with their recognition and acceptance of maintaining the current Tintina management team as an integral part of the Black Butte project going forward. With Sandfire's financial and technical support, we can realize our vision of a 21^st century mining operation that fits well with our ranching community and protects the landscape and waterways we all value."