Tintina Resources Reports Pre-Tax 30.5% IRR and $218M NPV for Updated Preliminary Economic Assessment, Black Butte Copper Project, Montana, USA
Vancouver, BC — June 24, 2013 — Tintina Resources Inc. (“Tintina” or the “Company”) (TSX-V: “TAU”; OTCQX: “TINTF”) is pleased to announce the positive results of an updated Preliminary Economic Assessment (the “Updated PEA”) for its 100% owned Black Butte Copper Project (the “Project”) located in central Montana, USA. All currency amounts are in United States dollars (US$) unless stated otherwise. The pre-tax results include: an internal rate of return (“IRR”) of 30.5%, a net present value (“NPV”) of $218M at an 8% discount rate, and a payback of 3.6 years using an assumed life of mine copper price of $3.05. Once in operation, the Black Butte Copper Project would provide approximately 200 jobs per year during the 11 year mine life. All of the currently known resources and mine-related site facilities for the Black Butte property discussed in the Updated PEA are on private ranch lands (see Figures 1 and 2).