COEUR D'ALENE, IDAHO--(Marketwired - March 24, 2017) - Timberline Resources Corporation
(OTCQB:TLRS)(TSX VENTURE: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 common stock
underlying the Warrants to the extent allowed by the Securities and Exchange Commission.
The securities offered in the Increased 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. The Securities may be sold only to "accredited investors" (as defined in Rule 501(a) under
Regulation D of the Securities Act), which for natural persons, are investors who meet certain minimum annual income or net worth
thresholds. The Securities are being offered in reliance on the exemption from the registration requirements of the Securities
Act provided by Rule 506(c) and the Company is not required to comply with specific disclosure requirements that apply to
registration under the Securities Act. The United States Securities and Exchange Commission has not passed upon the merits of or
given its approval to the Securities, the terms of the offering, or the accuracy or completeness of any offering
materials. The Securities are subject to legal restrictions on transfer and resale and investors should not assume they will
be able to resell their securities. Investing in the Securities involves risk, and investors should be able to bear the loss of
their investment.
Additional details about the Company, including the Company's Corporate Presentation, are available for viewing by accredited
investors at: www.timberline-resources.com.
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.
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 and opportunities that involve substantial risks and uncertainties. These statements include but are not limited
to statements regarding the total amount to be raised, whether the Company will be successful in raising the total of the
Increased Offering, the number of shares and warrants to be issued, pricing, date of the final closing, and other terms of the
Company's private placement offering of Common Stock, composition or terms of the Warrant, the use of proceeds, registration of
the securities, including when the registration statement will become effective, advancement of projects, and exploration
potential. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and
"expect" and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or its management, are
intended to identify such forward-looking statements. These forward-looking statements are based on information currently
available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's
actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these
forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, risks
related to changes in the Company's business resulting in changes in the use of proceeds, and other such factors, including risk
factors discussed in the Company's Annual Report on Form 10-K for the most recent fiscal year ended September 30. Except as
required by law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking
statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.