Drilling Campaign Completed At The Eureka Gold Project

COEUR D'ALENE, ID - Timberline Resources Corporation announced the completion of its 2021-2022 drilling program at the Eureka Project. Drilling began in October 2021 after a 2-month hiatus as contractors became available again to resume the program initiated in June 2021. This phase of drilling included completion of 23 drill holes totaling 4,859 meters (15,942 feet) aimed primarily at the Water Well Zone (WWZ) and Oswego Targets. The drill program included reverse circulation (RC), diamond core (core), and RC with core tails.

The drilling in the WWZ followed previously reported higher-grade (>3 g/t Au) intercepts. The WWZ is immediately adjacent to the Lookout Mountain Resource and has the potential to significantly expand the resource at higher gold grades. Fourteen new drill holes, including six core holes, in this program will add many more gold assays and much more geologic information to the WWZ target. Timberline also drilled a core hole to the east of the WWZ to provide the most thorough test yet of the significant IP anomaly in the Graben Zone. The Company also completed nine RC holes at the Oswego Target, approximately 1km east of the WWZ. These holes will test the downdip extension of the high-grade surface sampling reported in December.

President & CEO, Patrick Highsmith, said, "Despite delays due to lack of drill crew availability, our 2021 drill program at the Eureka Project was executed safely and efficiently. Combined with the five previously released drill holes from the summer, we completed approximately 6,270 meters (20,570 feet) in total. We drilled several core holes to improve our geological understanding and confirm gold grades in the Water Well Zone. We were also able to quickly pivot and move the RC rig to Oswego after our surface sampling returned high-grade results there. We look forward to the results from all this drilling and to strong news flow through the first quarter."