NEWS & EVENTS

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...

Timberline Resources Re-initiates Eureka Project Exploration and Relinquishes Talapoosa Property Option

View in PDF –   Coeur d’Alene, Idaho – April 3, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announces that it is refocusing its exploration efforts on advancing the Windfall and Lookout Mountain projects at its Eureka property, concurrent with relinquishing its option to acquire the Talapoosa project.  Eureka is a district-scale exploration property in Nevada’s prolific Battle Mountain – Eureka gold trend that hosts numerous world-class gold deposits. Timberline’s President and CEO, Steve Osterberg commented, “We are excited about returning our focus to the Eureka project. While we investigated numerous financing alternatives in the current market environment, we were unable to meet the significant payment obligations related to the Talapoosa option.  We believe that current and future available resources will be better directed toward advancing our substantial gold resources at Lookout Mountain and the very promising Windfall target at Eureka.” Eureka Project:   Windfall Target Timberline intends to resume exploration activities at the Eureka Property this field season with particular emphasis on the Windfall Target.  At Windfall, historic gold production exceeded 100,000 ounces, with historic drilling including an intercept of 75 feet which returned 0.153 opt gold (22.9 metres of 5.24 g/t gold).  Recent drilling of six holes in 2015 successfully tested on-strike, offset, and down-dip extensions of the historic gold mineralization that was mined in the 1980’s by a previous operator. The six drill holes completed (BHWF-036 to 041) tested a strike length of approximately 3,000 feet and intersected gold mineralization consistent with results from over 600 historic drill holes. Results of the 2015 drill program at Windfall are presented in the...

Timberline Resources Grants Stock Options

View in PDF – Coeur d’Alene, Idaho – February 6, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announces that, pursuant to its stock option plan, it has granted stock options (the “Options”) to acquired up to an aggregate of 1,600,000 common shares to  directors and management of the Company.  The Options are exerciseable at a price of US$0.17 per common share for a period of five years from the date of the grant and are subject to TSX-V approval. About Timberline Resources   Timberline Resources Corporation is focused on advancing district-scale gold exploration and development projects in Nevada, including its Talapoosa project in Lyon County, where the Company has completed and disclosed a positive preliminary economic assessment.  Timberline also controls the 23 square-mile Eureka project lying on the Battle Mountain-Eureka gold trend.  At Eureka, the Company continues to advance its Lookout Mountain and Windfall project areas.  Exploration potential occurs within three separate structural-stratigraphic trends defined by distinct geochemical gold anomalies.  Timberline also owns the Seven Troughs property in northern Nevada, known to be one of the state’s highest grade, former producers. Timberline is listed on the OTCQB where it trades under the symbol “TLRS” and on the TSX Venture Exchange where it trades under the symbol “TBR”. Forward-looking Statements Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance...

Timberline Announces First Quarter 2018 Financial Results

View in PDF –   Coeur d’Alene, Idaho – January 26, 2018 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) today announced consolidated financial results for its first fiscal year 2018 quarter which ended December 31, 2017.  A summary of selected financial results is presented in the following table:   ($US 000’s, except earnings per share)   Quarter Ended December 31,   2017 2016 Consolidated net loss $(329) $(327) Consolidated net loss per share, basic and diluted (0.01) (0.01) Mineral exploration expenses 26 46 Working capital 119 121   Timberline reported a consolidated net loss of $0.3 million for the quarter ended December 31, 2017, including exploration expenditures of $26 thousand.  The Company’s exploration expenditures during the quarter continued to be curtailed to conserve cash.  The Company completed a private placement during the quarter and continues to seek capital for the advancement of the Talapoosa gold and silver project in Nevada.  The Company expects, subject to having sufficient capital, to continue to advance the Talapoosa project toward a pre-feasibility study and further development. Timberline’s President and CEO, Steve Osterberg, commented, “We are pleased to see recent strengthening in the precious metal commodities markets.  We continue to believe that Talapoosa is an excellent project, and we have received significant interest in developing the potential of the project.  We have advanced our understanding of the metallurgy and processing alternatives for mineralized material at Talapoosa, and we have confirmed our belief that results from the project can meet or exceed those estimated in the May 2015 Talapoosa Preliminary Economic Assessment.” About Timberline Resources   Timberline Resources Corporation is focused...

Timberline Resources Announces 2017 Financial Results and Closes Private Placement Financing

View in PDF – Coeur d’Alene, Idaho – December 21, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced consolidated financial results for its fourth fiscal quarter and its fiscal year ended September 30, 2017 and closed its non-brokered private placement.. The Company reported cash of $67,154 as of September 30, 2017 and a consolidated net loss of $0.5 million for the fourth quarter and $1.65 million for the fiscal year, including exploration expenditures of $0.31 million and $0.42 million, respectively. A summary of selected financial results is presented in the following table: ($US 000’s, except earnings per share)                       3 Months Ending September 30                          Year Ending September 30 ……………………………                                                               2017                                    2016                      2017                                  2016 Consolidated net loss                                                                 $(487)                             $(1,097)               ...

Timberline Resources Closes First Tranche of Private Placement Financing

View in PDF – Coeur d’Alene, Idaho – November 7, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) has received conditional approval from the TSX Venture Exchange for its private placement and has closed the first tranche of the previously announced non-brokered private placement (the “Offering”) by issuing 2,290,867 units (“Units”) for a total of US$687,260. A second tranche is expected to close by mid-November. The Offering, which was initially announced on October 12, 2017, consists of up to 4,166,667 Units at a price of US$0.30 per Unit for a total of up to US$1,250,000, with an over-allotment option to increase the Offering by up to 20%. Each Unit 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$0.45 per share until the warrant expiration date of October 31, 2022. 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. The Company intends to use the net proceeds of the Offering for working capital, costs associated with property and claim maintenance, and exploration expenses. In connection with this tranche of the Offering, cash finder’s fees of 7% were paid to certain eligible finders in the amount of US$41,548. The Securities offered in the Offering have not been registered under the...

Timberline Resources Announces Private Placement Offering

View in PDF – Coeur d’Alene, Idaho – October 12, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today that it has initiated a non-brokered US$1,250,000 private placement offering of Units of the Company at a price of US$0.30 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 will consist 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$0.45 per share until the warrant expiration date of October 31, 2022. The Company intends to use the net proceeds of the Offering for working capital, costs associated with property and claim maintenance, and exploration expenses. The securities offered in the Offering have not been registered under the Securities Act or the securities laws of any state of the United States and may not be offered or sold absent such registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy securities nor shall there be any sale of the securities referenced herein in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. The securities referenced herein have not been approved or disapproved by any regulatory authority....

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