Timberline Amends Property Agreement

 

 

COEUR D'ALENE, ID - Timberline Resources Corporation has entered into an amendment to its Lease and Option Agreement for Purchase and Sale of Mining Properties dated August 15, 2013. The amendment adds 104 additional claims in Nevada to the original agreement. The additional claims, named the WFWKV Claims, are approximately 25 miles northwest of Eureka, Nevada within the productive Battle Mountain-Eureka Gold Trend, and include Carlin-type disseminated gold targets.

Under the amended agreement, the Company now controls a total of 590 mineral claims in Nevada comprised of seven separate properties. As consideration for the inclusion of the additional claims, the amendment to the agreement provides, subject to regulatory approval, for the issuance of 200,000 restricted shares of the Company's common stock.

Timberline is exploring and developing advanced-stage gold properties in the western United States. Timberline holds a 50-percent carried interest ownership stake in the Butte Highlands Joint Venture in Montana. Timberline's exploration is primarily focused on the major gold districts of Nevada, where it is advancing its flagship Lookout Mountain Project toward a production decision while exploring a pipeline of earlier-stage projects at its South Eureka Property and elsewhere.