TinOne Resources Inc. announced that it has completed its Phase 1 drill program at its Great Pyramid Tin (Sn) Project (Great Pyramid or the Project) located in the tier one mining jurisdiction of Tasmania, Australia. Drilling has now concluded with a total of 4,687 metres completed and data compilation and modelling are underway. The program has been successful in continuing to define significant tin mineralization near surface, at depth and adjacent to historical drilling.

Key Results: The 2022 program was designed to: Test the depth and lateral dimensions of mineralization within the vicinity of the historical drilling and resource estimate; Obtain grade and continuity data utilising modern drill and analytical techniques, within the area of the historic exploration activity; and Test a large-scale IP chargeability anomaly adjacent to the historic resource. The 2022 program returned results in line with historical data and includes outstanding intersections of higher grade such as: 22GPRC012 78 metres @0.51% Sn; 22GPRC016 51 metres @0.29% Sn; 22GPRC021 14 metres @0.36% Sn; and 22GPRC022 15 metres @0.45% Sn. The 2022 Great Pyramid drill program was highly successful in confirming the presence and tenor of significant tin mineralization in the area of historical drilling activity and historical resource estimate.

Weighted average tin grade for all 2022 recorded intersections was 0.23% Sn which is in accord with historical drill data. In addition, the program successfully defined significant mineralization at depth below the historical resource estimate in the area of sparse historical drilling.  Highlights at depth included: 22GPRC003: 18 metres @0.31% Sn from 308 metres downhole; 5.4 metres @0.46% Sn from 330.6 metres downhole; and 13 metres @0.22% Sn from 359 metres downhole. 22GPRC006: 49 metres @0.17% Sn from 65 metres downhole, Including 8 metres @0.3% Sn from 86 metres downhole.

These TinOne drill holes and the historical data have not defined the lower limit of the system, which remains entirely open at depth. A relatively minor component of the program was directed to testing the lateral extent of mineralization due to access, with the network of historical drill access tracks being utilized to obtain a more cost effective drill program for this first round of drilling. However, despite this, the program has also delivered significant results laterally away from the historical drilling and resource estimate, with highlights including: 22GPRC021: 40 metres @0.13% Sn from 58 metres downhole; 14 metres @0.36% Sn from 128 metres downhole; and 17 metres @0.21% Sn from 181 metres downhole.

22GPRC002: 14 metres @0.18% Sn from 3 metres downhole; and 6 metres @0.22% Sn from 24 metres downhole. These drill holes and historical drill data have not defined the lateral limits of the Great Pyramid system, which remains open laterally in all directions. Three drill holes (22GPDD010, 22GPRC018A, 22GPRC019, 22GPDD023) were drilled (for a total of 1275.9 metres) to test IP chargeability anomalies to the northeast and east of the area of historical exploration activity.

These holes intersected sedimentary rocks of the Mathinna Supergroup with strong hornfels effects at depth and variable amounts of pyrite (interpreted to be both diagenetic and hydrothermal) and minor base metal sulphides. No significant tin mineralization was encountered. The chargeability anomalies may be explained by the presence of pyrite, however more detailed analysis, including petrophysical property measurements, will be undertaken and integration into the broader Great Pyramid geological model undertaken.