Apr 13, 2017
View in PDF – Coeur d’Alene, Idaho – April 13, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced that it has received approval from the TSX Venture Exchange and issued one million common shares to American Gold Capital US Inc. (“AGC”), a subsidiary of Gunpoint Exploration Ltd., in satisfaction of the Company’s share portion of the option payment for its Talapoosa gold project in Lyon County, Nevada. The stock payment was made pursuant to the terms of the amended option agreement which permits the Company to acquire 100% of the Talapoosa gold project (the “Amended Option Agreement”). As previously announced, Timberline’s focus is on finalizing the on-going metallurgical studies and preparations for initial drill testing of the resource expansion target areas at Talapoosa and exploration on the adjacent Appaloosa zone (see Press Releases dated December 7, 2016, and January 31, 2017). 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. 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...
Apr 13, 2017
View in PDF – Coeur d’Alene, Idaho – April 13, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced that it has closed the third and final tranche of its previously announced non-brokered private placement (the “Offering”), for which it has received final approval from the TSX Venture Exchange. In connection with the closing of the third and final tranche of the Offering, the Company has issued 1,845,000 units (“Units”) at a price of US$0.25 for total consideration of US$461,250. In the aggregate of the three tranches of the Offering, the Company has issued a total of 8,000,000 Units for total consideration of US$2,000,000. Each Unit in the Offering consisted 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$0.40 per share until the warrant expiration date of January 31, 2020. The Company may accelerate the warrant expiration date if the price of the Company’s common stock closes at or above US$0.90 for twenty consecutive trading days. Certain finder’s fees and consulting fees may be payable by Timberline in relation to this transaction to support in marketing this Offering. The Offering was completed under Rule 506(c) 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 terms of the Offering also included that the Company will use commercially...
Mar 30, 2017
View in PDF – Coeur d’Alene, Idaho – March 30, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today that due to additional demand, and with approval from the Toronto Venture Exchange, it has increased the amount of its previously announced non-brokered private placement from US$1.75 million to US$2.0 million (the “Increased Offering”). Under the Increased Offering, the Company may issue up to 8 million Units of the Company (the “Units”) at a price of US$0.25 per Unit and is offered under Rule 506(c) 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. 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$0.40 per share until January 31, 2020. Two tranches of the Offering have already closed, and the Company has issued 6,155,000 Units for a total of US$1,538,750. A final tranche is expected to close in April 2017. The Company intends to use the net proceeds of the Increased Offering for property payments, exploration program expenses, and working capital. The terms of the Increased Offering also include that the Company will use commercially reasonable efforts to prepare and file a registration statement under the Securities Act for resale of the shares of common stock and the shares of common stock underlying the Warrants to the extent allowed by the Securities and Exchange Commission. The...
Mar 29, 2017
View in PDF – Coeur d’Alene, Idaho – March 29, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced that it has closed the second tranche of its previously announced non-brokered private placement (the “Offering”), by issuing 4,210,000 units (“Units”) for a total of US$1,052,500. In the two tranches of the Offering that have closed, the Company has issued 6,155,000 Units for a total of US$1,538,750. A final tranche is expected to close in April 2017. The Company intends to use a portion of the net proceeds of the Offering to pay the option payment of US$1 million on its Talapoosa gold and silver property in Lyon County Nevada that is due on March 31, 2017, as well as for working capital, exploration program expenses, and costs associated with claim maintenance. The Offering was initially announced on January 13, 2017 for a total amount of US$1.25 million. Due to demand for the Offering, the Offering amount was increased to US$1.75 and the termination extended until April 28, 2017. The increase and the extension were announced on March 24, 2017. The increased Offering consists of up to 7 million Units at a price of US$0.25 per Unit for a total of US$1,750,000. 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$0.40 per share until the warrant expiration date of January 31, 2020. The Company may accelerate the warrant expiration date...
Mar 24, 2017
View in PDF – Coeur d’Alene, Idaho – March 24, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today that due to demand, it has increased the amount of its previously announced non-brokered private placement, disclosed in a press release dated January 13, 2017, from US$1.25 million, with an over-allotment option to increase the offering by up to 20%, to US$1.75 million (the “Increased Offering”). Under the Increased Offering, the Company may issue up to 7 million Units of the Company (the “Units”) at a price of US$0.25 per Unit and is offered under Rule 506(c) 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. 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$0.40 per share until January 31, 2020. The Company has received approval from the Toronto Venture Exchange to increase the offering amount and to extend the final closing date of the Increased Offering until April 28, 2017. The Company intends to use the net proceeds of the Increased Offering for property option payments, exploration program expenses, other property obligations, and working capital. The terms of the Increased Offering also include that the Company will use commercially reasonable efforts to prepare and file a registration statement under the Securities Act for resale of the shares of common stock and the shares of...
Mar 20, 2017
View in PDF – Coeur d’Alene, Idaho – March 20, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announces that it has engaged O&M Partners, LLC (“Otis & Mandy”) to provide certain Investor Relations services for an initial 3-month term, which may continue on mutual agreement. In connection with the aforementioned engagement, the Company announces that, subject to regulatory approval, it has approved a grant of 250,000 stock options pursuant to its 2015 Stock and Incentive Plan to Otis & Mandy. The options are exerciseable for a period of three years at an exercise price of US$0.33 and will vest as to 25% on the date of grant and 25% every three months thereafter. 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...
Feb 24, 2017
View in PDF – Coeur d’Alene, Idaho – February 24, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) has received approval from the Toronto Venture Exchange to extend the final closing date of Timberline’s non-brokered private placement (the “Offering”) until March 29, 2017. As announced on February 17, 2017, the Company has already closed the first tranche of the Offering by issuing 1,945,000 units (“Units”) for a total of US$486,250. The Offering, which was initially announced on January 13, 2017, consists of up to 5 million Units at a price of US$0.25 per Unit for a total of 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$0.40 per share until the warrant expiration date of January 31, 2020. The Company may accelerate the warrant expiration date if the price of the Company’s common stock closes at or above US$0.90 for twenty consecutive trading days. The Offering is being completed under Rule 506(c) 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 terms of the Offering also include that the Company will use commercially reasonable efforts to prepare and file a registration statement under the Securities Act for resale of the...
Feb 17, 2017
View in PDF – Coeur d’Alene, Idaho – February 17, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) has received conditional approval from the Toronto Venture Exchange for its private placement and has closed the first tranche of the previously announced non-brokered private placement (the “Offering”) by issuing 1,945,000 units (“Units”) for a total of US$486,250. A second tranche is expected to close by the end of February. The Offering, which was initially announced on January 13, 2017, consists of up to 5 million Units at a price of US$0.25 per Unit for a total of 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$0.40 per share until the warrant expiration date of January 31, 2020. The Company may accelerate the warrant expiration date if the price of the Company’s common stock closes at or above US$0.90 for twenty consecutive trading days. The Offering is being completed under Rule 506(c) of Regulation D promulgated by the SEC under the Securities Act of 1933, as amended (the “Securities Act”) solely to persons who qualify as accredited investors and in accordance with applicable Canadian securities laws. The terms of the Offering also include that the Company will use commercially reasonable efforts to prepare and file a registration statement under the Securities Act for resale of the shares of...
Feb 14, 2017
View in PDF – Coeur d’Alene, Idaho – February 14, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) today announced consolidated financial results for its first fiscal year 2017 quarter which ended December 31, 2016. A summary of selected financial results is presented in the following table: ($US 000’s, except earnings per share) Quarter Ended December 31, 2016 2015 Consolidated net loss $(327) $(784) Consolidated net loss per share, basic and diluted (0.01) (0.06) Mineral exploration expenses 46 139 Working capital 121 (583) Timberline reported a consolidated net loss of $0.3 million for the quarter ended December 31, 2016, including exploration expenditures of $46 thousand. The Company’s exploration expenditures during the quarter continued to be curtailed to conserve cash. During the quarter ended December 31, 2016, the Company received $375 thousand from the refund of reclamation bond funds that are no longer required in Nevada. The Company has an ongoing metallurgical and geotechnical test program at the Talapoosa gold and silver project in Nevada from which it continues to receive positive results. The primary objective of the test program is to assess the potential to improve heap permeability and enhance gold and silver leach efficiency for the processing of the mineralized material at Talapoosa. The Company expects, subject to raising sufficient capital, to continue to advance the Talapoosa project toward a 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 and equities markets. As noted in our press release on January 31, the results of our ongoing...
Jan 31, 2017
View in PDF – Coeur d’Alene, Idaho – January 31, 2017 – Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) announced today positive preliminary results from on-going metallurgical testing being performed on mineralized material at its Talapoosa gold project in Lyon County, Nevada. The testing is designed to confirm the predicted gold and silver recoveries and assess leaching efficiency in the processing of the mineralized material as identified in the Company’s Preliminary Economic Assessment (“PEA”) issued in May 2015. In addition, the testing supports the work of previous operators and will guide planning for additional testing planned in advance of engineering design. The positive Talapoosa PEA that was completed and released on April 27, 2015 by WSP Canada envisioned the project as an open-pit, gold-silver, heap-leach operation (“Preliminary Economic Assessment on the Talapoosa Project, Nevada, effective April 27, 2015). PEA results included: Estimated average annual production of 55,000 oz of gold and 679,000 oz of silver for 11 years LOM all-in sustaining costs of $599/oz gold (net of silver by-product at $16/oz silver price) After-tax NPV5% of $136 million and 39% IRR at $1,150/oz gold price and $16/oz silver price Low initial capital requirement of $51 million. Timberline’s President and CEO Steven Osterberg commented, “The metallurgical testing was designed to confirm, and potentially enhance, gold and silver recoveries estimated in the PEA, which result in very attractive project economics. The testing also provides data to support processes that de-risk the operating plan and confirm the potential to increase recoveries by alternate processing methods.” Permeability Testing Metallurgical testing is on-going on four drill core composite samples duplicating...
