COEUR D'ALENE, ID / ACCESSWIRE / October 23, 2018 / Timberline Resources Corporation (OTCQB: TLRS; TSX-V: TBR)
("Timberline" or the "Company") announced today that it has initiated a non-brokered US$500,000 private placement offering of Units
of the Company at a price of US$0.08 per Unit, with an option to increase the offering by up to 20%, solely to persons who qualify
as accredited investors (the "Offering") under Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act of 1933,
as amended (the "Securities Act").
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$0.14 per share until the
warrant expiration date of October 29, 2021.
The Company intends to use the net proceeds of the Offering for working capital, and costs associated with exploration
expenses.
Subject to review by the TSX Venture Exchange, cash finders' fees may be payable with respect to subscriptions accepted by the
Company, and consulting fees may be payable by the Company in relation to this transaction to support in marketing this offering of
Units. It is anticipated that certain insiders may participate in the Offering.
The securities offered in the 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. 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.
These include its 23 square-mile Eureka property, comprising the Lookout Mountain, Windfall, and Oswego projects which lie along
three separate structural stratigraphic trends defined by distinct geochemical gold anomalies, as well as being operator of both
the Paiute joint venture project with a subsidiary of Barrick Gold, and the Elder Creek joint venture with McEwen Mining. All of
these properties lie on the prolific Battle Mountain-Eureka gold trend. Timberline also owns the Seven Troughs property in Northern
Nevada, which is one of the state's highest-grade former producers. Timberline has increased its owned and controlled mineral
rights in Nevada to over 43 square miles (27,500 acres). Detailed maps and NI 43-101 estimated resource information for the Eureka
property may be viewed at http://timberlineresources.co/.
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".
Steven Osterberg, Ph.D., P.G., Timberline's President and Chief Executive Officer, is a Qualified Person as defined by National
Instrument 43-101 and has reviewed and approved the technical contents of this release.
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 pricing or other terms of the Company's private placement offering of Units which includes the Company's
common stock and warrants, composition or terms of the Warrant, the use of proceeds, finder's fees or consulting fees payable,
insider participation, the approvals and consideration for the AGEI property acquisition, including the composition of the
anticipated unit and terms of the anticipated warrant, and advancement of Lookout Mountain and Windfall projects, exploration
potential, completion of the property acquisition from AGEI, and the size of the Company's owned and controlled mineral rights.
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 year ended September 30, 2017. 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.
For Further Information Please Contact:
Steven A. Osterberg
President and CEO
Tel: 208-664-4859
E-mail: info@timberline-resources.com
SOURCE: Timberline Resources Corporation
