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MONTREAL, May 07, 2024. Tarku Resources Ltd (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) (the “Company” or “Tarku”) is pleased to provide an update on its Silver Strike Project in Arizona, one of the two flagship projects of the Company, alongside the Three A’s in Quebec.

• Tarku has completed an analysis of all data sets related to the Silver Strike Project, in conjunction with the results of the recent MAG and radiometric survey.
• This exercise has identified new Silver-Gold (± Copper-Lead-Zinc) targets situated on the trend of existing anomalies.
• Tarku intends to execute a mapping and sampling program in 2024 to further refine these new targets.

Julien Davy, President and CEO of Tarku Resources, commented: “At Tarku Resources, we are incredibly excited about the potential of discoveries on our projects, and our Silver Strike Project is no exception. The famous historic mining district of Tombstone yielded high-grade silver from the surface to a maximum depth of 200m in the early 1900s. Our recent exploration work has demonstrated the geological potential for additional silver, as well as for copper, gold, lead, zinc, and manganese mineralization. Since 2020, Tarku has confirmed high-grade results in three different areas of the project. Furthermore, our latest geophysics program has unveiled new untested anomalies along the trend of previously defined targets, which will be evaluated in the upcoming mapping and sampling ground program.

As we continue to advance our exploration efforts and unlock the full potential of our projects, we believe that Tarku represents a compelling investment opportunity in the mining sector.”

Update on the Silver Strike Project, Arizona (Silver, Gold, Copper, Lead, Zinc, Manganese – 29 km²)

Tarku’s 100% owned Silver Strike Project is situated in the renowned Tombstone Mining District, one of the earliest silver mining regions in the western United States, where 32Moz silver was extracted until the 1970s along with gold, copper, lead, zinc and manganese. It has been reported that by 1890 over half of the total Tombstone district silver production had been extracted and that the actualized value of the total production of the area exceeded 1.5 billion USD. Despite its richness in silver and other base metals, the area has not been systematically explored with a comprehensive modern approach. Over 95% of the historical production occurred within 200 meters from the surface, predominantly from oxide ore minerals, indicating substantial untapped discovery potential.

The property comprises patented claims predominantly within the historical area and unpatented claims on the extensions of the zones.

Tarku’s 23-drill hole program results, announced in August 2021, validated the presence of several high-grade silver veins and structures, along with copper, gold, lead, and zinc mineralization, extending both vertically beyond the untested historical limit of 200 meters and laterally. Additionally, the results indicated the potential existence of a Carbonate Replacement Deposit (“CRD”) System, akin to the nearby Hermosa project in Arizona.

 

Tarku’s Silver Strike Project, Tombstone Area, Arizona

Highlights from Tarku’s surface exploration in 2020 and 2021 adjusted with today’s commodity prices returned:

• 2,489 g/t AgEq or 2,030 g/t silver, 0.13 g/t gold, 0.72% copper and 12.26% lead-zinc combined in a grab sample at Ground Hog
• 1,051 g/t AgEq or 778 g/t silver, 0.65 g/t gold, 1.63% copper and 0.79% lead-zinc combined in a grab sample at Ground Hog
• 943 g/t AgEq or 434 g/t silver, 0.37 g/t gold, 0.09% copper and 15.15% lead-zinc combined in a grab sample at the Junietta Mine

At the Ground Hog Target, work was undertaken to improve the Company’s understanding of the Mantos-type mineralization discovered at the contact between the Nacos and the Bisbee Limestones, during the last drill program.

Highlights from Tarku’s 2021 drill program adjusted with today’s commodity prices returned:

• 1,679 g/t AgEq over 1.5 m or 720 g/t silver, 6.44 g/t gold, 0.34% copper and 10.13% lead-zinc combined (Lucky Cuss) within a 223 g/t AgEq over 18.3 m
• 274 g/t AgEq over 1.5 m or 203 g/t silver, 0.31 g/t gold, 0.19% copper and 0.64% lead-zinc combined (Lucky Cuss),
• 273 g/t AgEq or 204 g/t silver, 0.38 g/t gold and 1.19% lead-zinc combined over 1.5 m (Ground Hog),

At the Lucky Cuss and East Side Targets, work will be focused on defining better and more extensions both at depth and on the lateral extensions.

Highlights from Tarku’s 2022 exploration at Solstice adjusted with today’s commodity prices returned:

• 552.5 g/t Ag Eq, incl. 482 g/t Ag and 1% lead-zinc combined
• 407.3 g/t Ag Eq, incl. 353 g/t Ag and 0.7% lead-zinc combined
• 358.2 g/t Ag Eq, incl. 280 g/t Ag and 1.6% lead-zinc combined
• 354.3 g/t Ag Eq, incl. 187 g/t Ag and 2.3% lead-zinc combined
• 303.1 g/t Ag Eq, incl. 244 g/t Ag and 1.1% lead-zinc combined

According to historical record compilation, the Solstice Mine was intermittently operated from a vertical shaft between 1914 and 1940, yielding 475 tons of ore containing 20,761 ounces of silver, 107 ounces of gold, 841 pounds of copper, and 133,865 pounds of lead. During this period, the primary challenge for historic miners was managing the water table approximately 240 feet below the surface, which presents today’s opportunity for significant mineralization at depth.

At the Solstice Target, efforts have been concentrated on defining the conjugate veining system (oriented at N030 and N090) and the associated enrichment in silver and manganese mineralization resulting from the convergence of the two vein systems. Mineralized zones in this area can extend up to 6 meters in true width. Tarku’s forthcoming phases at the Solstice area will prioritize testing the continuity of ore shoots at depth and confirming the stability of high-grade mineralization values.

The CRD Model

The diverse mineralization observed within the sediments at Lucky Cuss and Ground Hog strongly suggests that the Carbonate Replacement Deposit (CRD) model may be more widespread across the Silver Strike property than initially anticipated, with undiscovered limits. CRD deposits typically manifest as high-temperature carbonate-hosting Ag-Pb-Zn deposits formed by the replacement of sedimentary, often carbonate rock, by metal-bearing solutions near igneous intrusions acting as heat sources. Ore body geometries can vary from chimneys to veins to blanket-like bodies along the bedding plane of the rock, commonly referred to as mantos. These polymetallic replacements/mantos are frequently stratiform wall-rock replacement ore bodies distal to porphyry deposits, such as copper or molybdenum. The presence of abundant manganese on the Silver Strike Project is indicative of this environment and strengthens the potential for a CRD deposit.

This model mirrors what is observed at the Hermosa Project, situated 80 kilometers to the west in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018. The Hermosa project is home to the Taylor Deposit and shares the same geological age and sediment types, classified as a CRD-style zinc-lead-silver massive sulfide deposit.

Tarku plans to implement a mapping and sampling program in 2024 to investigate the new targets delineated by the recent MAG and radiometric survey.

Qualified persons

Julien Davy, P.Geo., M.Sc, MBA, President and Chief Executive Officer of Tarku, a qualified person under National Instrument 43-101 on standards of disclosure for mineral projects, has prepared, supervised and approved the technical information in this news release.

About Tarku

Tarku Resources Ltd. (TSXV: TKU; OTCQB: TRKUF; FRANKFURT: 7TK) is a mining exploration company focused on advancing the development of new discoveries by using modern techniques in favourable mining jurisdictions such as Quebec and Arizona.

In Arizona, within the famous Tombstone District, Tarku owns 100% of the 29 km² Silver Strike project. Silver Strike has been interpreted by management to have the potential for similar Carbonate Replacement Deposits (CRD) comparable to those of the Hermosa project, located 80 km west, in Santa Cruz County, Arizona, which South32 acquired for USD 1.8 billion in 2018.

In Quebec, Tarku owns 100% of the “Three A’s” exploration projects (Apollo, Admiral and Atlas) in the Matagami Greenstone Belt, interpreted by management as the eastern extension of the Detour Belt, which has seen recent exploration successes by Midland Exploration, Wallbridge Mining Company and Probe Metals.

Additionally, Tarku maintains its exploration efforts across its other 100% owned projects in Quebec, strategically located along regional shear zones and areas with known mineralization in gold, copper, zinc, nickel, or lithium. This comprehensive approach reaffirms the company’s strategy to delineate and develop high-quality mineral resources. With its 25,000 hectares of mining titles in Quebec and its 2,900 hectares in Arizona, Tarku Resources is well-positioned to capitalize on the positive momentum in the commodity sector.

On behalf of Tarku Resources Ltd.

Julien Davy,

President and CEO

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Website: www.tarkuresources.com

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Tarku’s periodic reports, including the annual report, or in the filings made by Tarku from time to time with securities regulatory authorities.