Beacon Rock Research, LLC

July 27, 2011

B EACON R OCK R ESEARCH

J U LY 27, 2011

S PECIAL R EPORT T INTINA R ESOURCES I NC .

(TSX - V: TAU, C$0.66
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www.beaconrockresearch.com Mike Niehuser, 503-307-3188 mike@beaconrockresearch.com

Disclosures 1, 2

5956 N.W. 213th, Portland, Oregon 97229

Tintina Resources on Course to Billion Pound Copper Resource in Montana

We recently visited Tintina Resources Inc.s (TSX V: TAU) Sheep Creek copper-cobalt-silver project near White Sulphur Springs in central Montana. Tintina began drilling this high-grade copper project less than one year ago. While the companys stock price has pulled back, now not much higher than in February of 2011, when the company completed a C$35.75 million private placement financing (Quantum Partners and Electrum Strategic Metals LLC), progress to date is impressive. They appear to be well on their way to producing a Preliminary Economic Assessment and building a resource of about one billion pounds of copper (roughly equivalent to a 2.7 million ounce gold deposit). In January of 2011, Tintina reported a NI 43-101 compliant Inferred Resource estimate of 366 million pounds of copper, which is limited to the Upper Copper Zone (UCZ) at Strawberry Butte. Tintina has drilled a total of 75 diamond drill holes at Sheep Creek, roughly 17,000 meters, since September of 2010. There has been about 15,000 meters of drilling in the Strawberry Butte area, where they are working to increase the classification in the UCZ to Measured & Indicated and complete a Preliminary Economic Assessment later in the year. Tintina has completed the drill program at Strawberry Butte and is working on identifying an Inferred Resource in the Lower Copper Zone (LCZ) below the UCZ. In addition, Tintina plans to complete an additional 10,000 meters of drilling in the Strawberry East target area, identifying an Inferred copper resource in the Lower Copper Zone and the broader Middle Copper Zone (MCZ). In combination, the Strawberry Butte UCZ, plus the Strawberry Butte LCZ, and the Strawberry East target areas including the LCZ and MCZ (and promising UCZ), have good potential to achieve their target of exceeding a billion pound copper resource.

_______________________________________________________________________________________________________________________________________________________________________________ This information is obtained for sources believed to be reliable, but its accuracy and completeness are not guaranteed. Copying, faxing, replicating, or quoting from this report without permission is in direct violation of copyright laws. Beacon Rock Research employees and affiliates may have positions and effect transactions in the securities or options of the issuers reported herein. Please refer to the company index in the back of this issue for additional disclosures.

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July 27, 2011

Project Visit Amplifies Management Contribution to Shareholder Value

Few companies are as fortunate to have exploration ability and first-hand knowledge of a project and the local community as Tintina is by having Jerry Zieg serving as their Vice President of Exploration. Zieg grew up on the Smith River near White Sulphur Springs. Decades before, Zieg wrote his masters thesis on the stratigraphy in the Sheep Creek region. Zieg worked for Cominco early in his career when exploring for zinc, leading to his part in the discovery of high-grade copper at Sheep Creek. As a native of White Sulphur Springs, Zieg had the contacts to acquire land, recently increasing to a district-size land position of 12,225 acres, more than doubling the land position from 5,775 acres noted in our last report.

Strawberry East Strawberry Butte

Sheep Creek Project, White Sulphur Springs, Montana Source: Tintina Resources

Ziegs vested interest in the area is important to establish and maintain trust with the local community and regulators, leading to rapid development, long-lived operation, and environmentally appropriate reclamation and closure. The White Sulphur Springs area, following the decline in the forest industry, has one of the highest levels of unemployment in Montana. Developed as a high grade underground mine, the Sheep Creek project should have a small footprint relative to other non-mining commercial, agricultural or recreational developments. From our perspective, having visited Revett Minerals Inc.s (TSX: RVM) Troy mine, a copper-silver deposit mined by the room and pillar method, the Troy mine provides a good example of a comparable mine (silver-copper) operating in Montana with an excellent record of environmental compliance. It was clear on the project visit that Sheep Creek has excellent access to infrastructure including paved highways, power, water and labor. We were also impressed with the sizeable exploration office and core shed in White Sulphur Springs, and with the morale and activity of the exploration team as well. We were pleased to recognize early in the process the potential for Zieg to provide leadership, leading to value to shareholders as well as long-term prosperity to the region..
Sheep Creek Exploration OfficeCore Tables Source: Analyst

_______________________________________________________________________________________________________________________________________________________________________________ This information is obtained for sources believed to be reliable, but its accuracy and completeness are not guaranteed. Copying, faxing, replicating, or quoting from this report without permission is in direct violation of copyright laws. Beacon Rock Research employees and affiliates may have positions and effect transactions in the securities or options of the issuers reported herein. Please refer to the company index in the back of this issue for additional disclosures.

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July 27, 2011 Calendar 2011 - A Transformative Year for the Sheep Creek Project

Late in 2010, Tintina twinned four of nineteen historic drill holes in the Upper Copper Zone (UCZ) at Strawberry Butte. The UCZ now has an Inferred Resource estimate of seven million tonnes grading 2.4% copper, 0.12% cobalt, and 12.3 g/t silver, at a copper cut-off grade of 1.50% (at $2.50/lb copper), containing 366 million pounds of copper. Tintina has completed approximately 15,000 meters in drilling in the Strawberry Butte area, and the opportunity to upgrade the classification of resources is enhanced by the noteworthy consistency of grades of copper-cobalt-silver. Tintina has completed the drilling in the Strawberry Butte area and has assays pending on 25 holes. Managements goal is to receive an upgrade for the Strawberry Butte UCZ and Preliminary Economic Assessment (on this zone only) midway in the fourth calendar quarter. The infill drilling in the Strawberry Butte UCZ, while notable in consistency, has also intercepted high grades over wide intervals, for example, SC11-046 intersecting a 24.39 meter interval grading 2.2%. The dual benefit of infill drilling helps establish a resource in the even higher grade copper mineralized Lower Copper Zone (LCZ). Highlights of drilling in the LCZ in 2010 include SC10-004 intersecting 4.05 meters grading 10.84% copper, and SC10-005 intersecting 6.35 meters grading 8.72% copper. In 2011, step-out drilling includes SC11-011 which intersected 13.05 meters grading 3.18% copper. In addition, SC11-029 drilled 4.50 meters grading 11.4% copper and SC11-048 intersected 10.73 meters grading 5.3% copper including 6.61 meters grading 8.0% copper. Management anticipates completion of a resource estimate on the Strawberry Butte LCZ in the third calendar quarter. In 2010, Tintina drilled only four holes totaling 2,500 meters in the Strawberry East area, about 2.5 kilometers east of the Strawberry Butte area. The most important hole in the Strawberry Butte program was SC10-006, confirming an older Cominco drill-hole in the Middle Copper Zone (MCZ), intersecting 46.62 meters grading 2.56% copper. Interestingly, management had targeted building a resource primarily from the MCZ and LCZ at Strawberry East. Recently, drilling encountered the UCZ, with SC-049 intersecting 19.53 meters grading 1.65%, including 7.19 meters grading 2.22%. Management plans to complete an additional 10,000 meters of drilling in Strawberry East in 2011, providing additional data for a resource estimate at the end of the year. Altogether, work begun early in 2011 and proceeding through year end should transform the companys investment profile. In summary, this will include an upgrade of the Inferred Resource in the Strawberry Butte UCZ and a Preliminary Economic Assessment, providing an overview of the economics on the existing identified copper-cobalt-silver resource. In addition, we may anticipate the completion of an Inferred Resource in the LCZ for Strawberry Butte and for the MCZ and LCZ of the Strawberry East area (possibly including drill results following up mineralization encountered in the UCZ at Strawberry East). Presently, Tintina has about C$31 million in its treasury, which is more than sufficient to complete the 2011 exploration and development program at Sheep Creek.
_______________________________________________________________________________________________________________________________________________________________________________ This information is obtained for sources believed to be reliable, but its accuracy and completeness are not guaranteed. Copying, faxing, replicating, or quoting from this report without permission is in direct violation of copyright laws. Beacon Rock Research employees and affiliates may have positions and effect transactions in the securities or options of the issuers reported herein. Please refer to the company index in the back of this issue for additional disclosures.

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July 27, 2011

Tintina Building Shareholder Value and Market Exposure

Current copper prices, while near record highs, are within the range of real copper prices between 1880 and 1910, the last great period of global industrialization. Currently, copper is in high demand, especially from China, where sustained economic development still suffers brownouts from the inability to transmit power to meet consumer and industrial demand. Higher prices also reflect the reduction of new copper discoveries at increasingly lower grades and projects increasingly dependent on metal byproducts to become economic. Investors may not appreciate the increased interest in copper projects by non-traditional sources including smelters and fabricators. Barrick Gold Corps (NYSE: ABX) recently acquired Equinox Minerals (TSX: EQN), with copper reserves of about six billion pounds, in a deal valued at C$7.3 billion. Barrick acquired Equinoxs total copper resources at $0.50 per pound, or 12% of the market value of in-ground value; or Equinoxs copper reserves only, at $1.28 per pound, or 30% of the market value of in-ground value. Presently, the market capitalization of Tintina is roughly 6% of the market value of its in-ground copper resource. We believe Tintinas drill program in Strawberry East has good potential to put the companys resources at over a billion pounds of copper. This may triple the size of the initial resource, increasing the classification of the identified resource and demonstrating economics. This could lead to a significantly higher valuation in the near-term, and it does not include the additional exploration potential of Sheep Creek or Tintinas other exploration assets in Alaska. (As of June, 2011, Tintina reported 141.8 million shares outstanding.)

Analyst at the Sheep Creek Project (from Strawberry Butte) Source: Analyst

_______________________________________________________________________________________________________________________________________________________________________________ This information is obtained for sources believed to be reliable, but its accuracy and completeness are not guaranteed. Copying, faxing, replicating, or quoting from this report without permission is in direct violation of copyright laws. Beacon Rock Research employees and affiliates may have positions and effect transactions in the securities or options of the issuers reported herein. Please refer to the company index in the back of this issue for additional disclosures.

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July 27, 2011
DISCLOSURES: Beacon Rock Research, LLC provides information and analysis on selected companies, with a focus on small-cap and micro-cap companies.

This report has been written in accordance with current SEC regulations and the Standards of Practice developed by the Chartered Financial Analyst Institute (CFAI). Our research has been conducted by employing analytical practices generally accepted as standard within the analytical industry. In this instance, a comparison of financial strength, a bottom-up earnings projection based on a recovery in the U.S. economy, and relative multiples, were employed. Target prices are calculated on comparative EPS, sales and book value multiples, and our knowledge of small-cap markets when enjoying both a sector and a cyclical rebound. Our conclusions are, by the very nature of forecasting, speculative, but are also reasonable, supportable and consistent. Key to disclosures: 1. 2. The research analyst owns shares of common stock in the Subject Company. This report was prepared exclusively for the benefit of institutional investors and may or may not receive compensation directly or in soft dollar arrangements.

The analyst, Mike Niehuser, hereby certifies that the research conclusions and recommendation contained herein accurately reflects his personal views about the industry, company and shares and also hereby certifies that no part of his research compensation was or will be directly or indirectly related to the earnings estimates, target price or recommendation about the security. The research provided herein should not be considered a complete analysis of every material fact regarding the companies, industries or securities named above. The opinions expressed herein reflect the analysis and judgment of the author on the date of publication and are subject to change without notice. Facts have been obtained from sources considered reliable but should not be construed as complete and are not guaranteed to be accurate. Beacon Rock Research, LLC; its members; employees and their families may have positions in the securities covered within the research material above and may make purchases or sales while this report is in circulation. Additional information on the subject companies is available upon request. EQUITY RECOMMENDATION SYSTEM: Strong Buy Buy Hold Sell Immediate purchase is recommended. The security is expected to outperform the market over the next six to 12 months. Immediate purchase is recommended. The security is expected to outperform the market over the next 12 to 18 months. Holding the stock is recommended because the share prices appreciation potential is less than or equal to the market. The stock has reached the target price objective and/or conditions have changed sufficiently to alter the outlook for the stock. EQUITY RISK SYSTEM: High Moderate Low The security is more volatile than the market and/or the company is more leveraged than its peer group. The security has about the same volatility as the market and/or the company carries a level of leverage in line with its peer group. The security is less volatile than the market and/or the company is less leveraged than its peer group. DISTRIBUTION OF RECOMMENDATIONS: At this time, there are an insufficient number of companies under coverage to generate usable distribution information or draw any conclusions regarding bias about the research methodology. Prospective companies are screened and evaluated by sales personal and research analysts with the investment thesis and overall research recommendation developed before the commission is established.

_______________________________________________________________________________________________________________________________________________________________________________ This information is obtained for sources believed to be reliable, but its accuracy and completeness are not guaranteed. Copying, faxing, replicating, or quoting from this report without permission is in direct violation of copyright laws. Beacon Rock Research employees and affiliates may have positions and effect transactions in the securities or options of the issuers reported herein. Please refer to the company index in the back of this issue for additional disclosures.