PEA Confirms Economic Potential At Talapoosa Project

COEUR D'ALENE, ID - Timberline Resources Corporation President and CEO, Kiran Patankar, said, "Our focus this quarter was primarily on completing a PEA on our flagship Talapoosa project in western Nevada and defining the scope of work required for a planned Pre-Feasibility Study (PFS) on the project. The PEA confirms Talapoosa's robust economic potential as an open pit, heap leach gold operation with low capital and operating costs that generates a rapid return on investment even at current low gold prices. The PFS will optimize and de-risk Talapoosa with trade-off studies and additional metallurgical analysis, which will facilitate full project permitting and financing. In addition, while the timing is lagging our expectations, we continue to be encouraged by progress toward a final decision by the U.S. Forest Service related to the road use permit at the Butte Highlands gold project in Montana."

About Timberline Resources

Timberline Resources is focused on advancing district-scale gold exploration and development projects in Nevada, including its recently optioned Talapoosa project in Lyon County. Current mineral resources at the Talapoosa project include 1.01 million gold ounces and 13.65 million silver ounces (M&I), plus an additional 0.23 million gold ounces and 2.17 million silver ounces (Inferred). 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 reported resource of 508,000 ounces (M&I) and 141,000 ounces (Inferred) of gold at the Lookout Mountain project area, and has recently completed a drill program at the Windfall project area.