Timberline Resources Announces Gold Assay Results for the Paiute Project, Battle Mountain District, Nevada

View in PDF – Coeur d’Alene, Idaho – May 24, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today that mapping and surface sampling on the Paiute joint venture project, located in the Battle Mountain District of Nevada, have further defined a NNE-trending structural zone, measuring 2,500 meters long by 500 meters wide, which hosts gold-silver mineralization (Figure 1). The project, which is located 2.5 kilometers west of Newmont’s Copper Basin copper-gold deposit, also contains a deeper copper-gold porphyry target. Timberline has entered into a definitive agreement with Americas Gold Exploration, Inc. to acquire a 73.7% interest in the Paiute project joint venture, with the remaining interest owned by a subsidiary of Barrick Gold Corporation. As shown in Table 1, 10 of the 21 surface grab samples collected by the Company along the structural zone returned gold values greater than 1.0 gram per tonne (“g/t”), with three samples over 10 g/t gold, including one sample assaying 42.9 g/t gold and 527 g/t silver. The assay results in Table 1 are consistent with gold and silver values from historical rock chip and soil sampling along the structural zone. Table 1. Assay results from Paiute Project Rock Sampling* **   SAMPLE E (UTM) N (UTM) Au (g/t) Ag (g/t) 18PC-001 494690 4499274 0.345 6.8 18PC-002 494710 4499300 17.200 723.0 18PC-003 494710 4499300 0.609 20.5 18PC-004 494541 4498733 1.425 1.7 18PC-005 494541 4498733 0.304 9.4 18PC-006 494541 4498733 0.214 3.6 18PC-007 494541 4498733 1.220 8.8 18PC-008 494799 4498664 0.967 1.5 18PC-009 494703 4498643 0.667 4.3 18PC-010 494704 4498639 4.120 58.4 18PC-011 494712 4498626 0.120 5.0 18PC-012...

Timberline Resources Signs Definitive Agreement to Acquire Battle Mountain Gold-Copper Property Interests

View in PDF – Coeur d’Alene, Idaho – May 24, 2018 – Timberline Resources Corporation (OTCQB: TLR; TSX-V: TBR) (“Timberline” or the “Company”) announced today that it has signed a definitive purchase and sale agreement (the “Agreement”) to acquire ownership interests in two Nevada gold-copper mineral properties located in the world-class Battle Mountain mining district (the “Properties”) from Americas Gold Exploration, Inc. (“AGEI”). The acquisition includes the right to earn into existing joint venture agreements with McEwen Mining Inc. (“McEwen”) at the Elder Creek Project, and with Lac Minerals (USA) LLC, a wholly owned subsidiary of Barrick Gold Corporation (“LAC”) at the Paiute Project. The transaction consideration consists of ten million shares of the Company’s common stock and five million non-transferrable share purchase warrants, with each warrant exercisable to acquire one share of the Company’s common stock for US$0.24 for a period of three years. In addition, the Company shall deliver to AGEI, subject to any required regulatory approval, an additional 5,000,000 common stock purchase warrants with the same terms and in the same form as the Consideration Warrants if and when the earlier of the following occurs: (i) Timberline enters into an arrangement with a funding partner for the advancement of the Elder Creek Joint Venture, or (ii) Timberline has met the 2018 work commitment of $500,000. Upon closing the acquisition of these property interests, Timberline will become the operator and manager of both of these joint ventures. In addition, Mr. Don McDowell will become a Vice President of Timberline, and AGEI will have the right to appoint two new directors to Timberline’s Board of Directors. The Elder...

Timberline Announces Second Quarter 2018 Financial Results

View in PDF – Coeur d’Alene, Idaho – May 11, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) today announced consolidated financial results for its second fiscal year 2018 quarter which ended March 31, 2018.  A summary of selected financial results is presented in the following table:   ($US 000’s, except earnings per share)   Quarter Ended March 31,   2018 2017 Consolidated net loss $(3,696) $(531) Consolidated net loss per share, basic and diluted (0.10) (0.02) Mineral exploration expenses 21 36 Working capital (179) 210 Timberline reported a consolidated net loss of $3.7 million for the quarter ended March 31, 2018, including a $3.2 million write-off of the Company’s investment in the Talapoosa property and other exploration expenditures of $21 thousand.  The Company did not make the payment of $2 million which was required under the Talapoosa option agreement, and, therefore, the agreement was terminated per its terms on March 31, 2018 and the Company wrote off its entire investment in the project.  As a result, the Company has refocused its exploration efforts on advancing its other Nevada projects. Timberline’s President and CEO, Steve Osterberg, said, “We are refocusing our efforts on projects in the Battle Mountain-Eureka gold trend in Nevada, including our Windfall, Lookout Mountain and Oswego projects at our Eureka property and, as we recently announced, additional property interests in the Battle Mountain mining district that complement our existing projects and gain important, strategic partners.  We appreciate the support shown by our shareholders as we pivot to advancing exploration programs in a known gold trend in Nevada and gaining strong, strategic...

Timberline Resources Closes Private Placement Financing

View in PDF –   Coeur d’Alene, Idaho – May 9, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced that it has received final approval from the TSX Venture Exchange for its private placement and has closed its previously announced non-brokered private placement (the “Offering”). In connection with the closing of the over-subscribed Offering, the Company has issued 7,500,000 units (“Units”) at a price of US$0.08 for gross consideration of US$600,000.  The Company intends to use the net proceeds of the Offering for working capital, costs associated with property and claim maintenance, advancement of the Company’s agreement with Americas Gold Exploration, Inc. (“AGEI”) and exploration expenses. Each Unit in the Offering consists of one share of common stock of the Company and one common share purchase warrant (each a “Warrant”) (together the “Securities”), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of US$0.14 per share until the warrant expiration date of April 30, 2021.  No finder’s fees or commissions were paid in relation to the Offering. The Offering is being completed under Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act of 1933, as amended (the “Securities Act”) solely to persons who qualify as accredited investors and in accordance with applicable Canadian securities laws. Two insiders of the Company participated in the private placement and subscribed for 250,000 Units. Participation by the two insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.  Because the Company’s shares trade...

Timberline Resources Announces Private Placement Offering

View in PDF –   Coeur d’Alene, Idaho – May 7, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today that it has initiated a non-brokered US$500,000 private placement offering of Units of the Company at a price of US$0.08 per Unit, with an option to increase the offering by up to 20%, solely to persons who qualify as accredited investors (the “Offering”) under Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act of 1933, as amended (the “Securities Act”). Each Unit consists of one share of common stock of the Company and one common share purchase warrant (each a “Warrant”), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of US$0.14 per share until the warrant expiration date of April 30, 2021. The Company intends to use the net proceeds of the Offering for working capital, costs associated with property and claim maintenance, advancement of the Company’s agreement with Americas Gold Exploration, Inc. (“AGEI”) and exploration expenses. Subject to review by the TSX Venture Exchange, cash finders’ fees may be payable with respect to subscriptions accepted by the Company, and consulting fees may be payable by the Company in relation to this transaction to support in marketing this offering of Units.  It is anticipated that certain insiders may participate in the Offering. The Company also announced that, subject to TSX-V and Board approvals, the consideration for the Company’s recently announced property acquisition transaction with AGEI (See press release on April 23, 2018) is expected to be ten million units...

Timberline Resources Agrees to Acquire Battle Mountain Gold-Copper Property Interests

View in PDF –   Coeur d’Alene, Idaho – April 23, 2018 – Timberline Resources Corporation (OTCQB: TLR; TSX-V: TBR) (“Timberline” or the “Company”) announced today that it has agreed to acquire ownership interests in two Nevada gold-copper mineral properties located in the world-class Battle Mountain mining district from Americas Gold Exploration, Inc. (“AGEI”). The acquisition will include the right to earn into existing joint venture agreements with McEwen Mining Inc. (NYSE: MUX; TSX: MUX) at the Elder Creek Project and with Lac Minerals (USA) LLC, as wholly owned subsidiary of Barrick Gold Corporation (NYSE: ABX; TSX: ABX) at the Paiute Project.  The transaction consideration will consist of units comprised of common shares and warrants to be issued by Timberline to AGEI.  Ongoing due diligence is to be completed by April 27, 2018, with conclusion of a definitive agreement expected on or before May 15, 2018. Upon closing the acquisition of these property interests, Timberline will become the operator and manager of both of these joint ventures.  In addition, Mr. Don McDowell will become a Vice President of Timberline, and AGEI will have the right to appoint two new directors to Timberline’s Board of Directors. The Elder Creek Project covers a claim group of approximately 14 square miles with two large, outcropping gold-copper porphyry targets and multiple structural gold targets.  Compilation of historic data by AGEI indicates that the project contains geologic, geophysical, and geochemical signatures similar to those in many large porphyry deposits, with a central core that is approximately 1 mile in diameter.  The central core target has never been drill tested.  AGEI is the current operator...