Timberline drills 4.29 g/t gold over 22.8 metres at Eureka, Nevada

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Timberline Resources Corp. [TBR-TSXV; TLRS-OTCQB] reported results from the first four holes of the 2022 drilling program at its 100%-controlled Eureka project in Nevada. The holes tested the central and southern sections of the Water Well Zone (WWZ) to the east of the Lookout Mountain gold resource. They totalled 1,470 meters and consisted of pre-collars by reverse circulation (RC) drilling completed by core to depth.

All four drill holes encountered significant gold mineralization and confirmed that the WWZ hosts an extensive area of gold mineralization in the Cambrian-aged Dunderberg Shale and upper Hamburg Dolomite. Two of the holes, BHSE-223C and 224C, offset mineralized RC holes previously announced (BHSE-187 and BHSE-209). BHSE-226C and 230C were south and north step outs from highly mineralized drill hole BHSE-212C, which was reported during the first quarter.

Highlights from the four new drill holes include drill hole BHSE-226C that returned 22.8 metres at 4.29 g/t gold from 339.9 metres depth, including7.6 metres at 11.56 g/t gold from 342.9  metres depth.

BHSE-224C returned 30.5 metres at 2.56 g/t gold from 317.6 metres depth, including 18.4 metres at 3.80 g/t gold from 317.6 metres depth, and including 3.35 metres at 13.36 g/t gold from 331.3 metres depth.

BHSE-223C returned 39.0 metres at 1.71 g/t gold from 259.7 metres depth, including 28.3 metres at 1.97 g/t gold from 259.7 metres depth and including 5.9 metres at 3.71 g/t gold from 259.7 metres depth.

BHSE-230C returned 3.1 metres at 10.88 g/t gold from 288.6 metres depth; and BHSE-230C that returned 8.7 metres at 2.01 g/t gold from 313.0 metres depth.

Patrick Highsmith, President and CEO, commented, “We’ve begun the 2022 drill results reporting season with four solid drill intercepts in the Water Well Zone. Most importantly, we see another thick run of >3 g/t gold mineralization that pushes the zone 75 meters farther south. The map reveals how wide open this part of the system is. We have several more holes planned that will test the zone to the south, east, and west. We are also pleased to see the footprint of the WWZ filling in with the confirmatory core holes in the vicinity of previous hits from reverse circulation drilling. We continue to deliver on our objective of defining more high-grade beyond existing known resources at Eureka – three of four holes in this batch of results include assays greater than 10 g/t gold.”

The strong results from BHSE-226C indicate that the high-grade portion of the deposit remains wide open to the south. Infill core holes BHSE-223C and 224C confirm and improve upon nearby RC drill intercepts in the middle of the zone.

The 2022 drill program is approximately 75% complete. Core drilling is still underway in the WWZ discovery area, with a steady flow of assay results is expected through the fourth quarter.

This first batch of holes from the 2022 drilling clearly signals that the WWZ mineralization at the base of the Dunderberg Shale is present over a large area. The most robust zones of thicker and higher-grade mineralization are presently known to be at the northern and southern limits of drilling and assay information. Core hole BHSE-226C is a significant step out from BHSE-212C, and the gold zone has been extended and remains open to the south and east. Timberline is still drilling in the vicinity of these southern drill holes.

Drilling will continue through September and into October with a steady flow of results expected over the coming weeks. In addition to holes in the northern part of the WWZ, assays are also awaited from RC drilling at the Oswego Target and the Relay

Timberline Resources is focused on delivering high-grade Carlin-Type gold discoveries at its district-scale Eureka Project in Nevada. The Eureka Property includes the historic Lookout Mountain and Windfall mines in a total property position of approximately 24 square miles.


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