Timberline Announces 2023 Work Program at Eureka Project: Exploration, Resource Development and Permitting Support

COEUR D'ALENE, ID / ACCESSWIRE / March 22, 2023 / Timberline Resources Corporation (OTCQB:TLRS)(TSXV:TBR) ("Timberline" or the "Company") is pleased to announce its 2023 plans for exploration, engineering, and baseline environmental work at its 100%-controlled Eureka Project in Nevada (Figure 1). The program includes the first drilling of the carbonate replacement deposit (CRD) type gold-silver targets at New York Canyon and a return to several surface oxide gold targets at the Lookout Mountain Deposit. The Company also plans to test for extensions of the Carlin-type gold system at the Water Well Zone (WWZ).

The plan to drill several different areas in 2023 is a reflection of the different stages of discovery and development at the multiple targets across the 70 km² project. Timberline geologists are very excited to conduct the first drilling on the newly acquired patented claims in New York Canyon, within the heart of the Eureka CRD district where i80 Gold and Paycore Minerals have been focusing (Figure 2). The opportunities at Lookout Mountain and the WWZ involve offsetting known mineralization, filling in gaps, and testing for downdip extensions.

An important aspect of this year's work will be to update the operational and permitting plan with state and federal regulators. Timberline initiated metallurgical, engineering, and environmental work between 2012 and 2014. The 2023 plan includes several near-term tasks, longer lead time items, and baseline monitoring to build out the key project development databases, these include:

• Review metallurgical data and initiate additional testing by rock type and particle size
• Update waste rock and geochemical characterization studies
  • Revisit studies from 2012 - 2014 and augment as necessary
  • Drill core samples for additional environmental test work
• Drilling for additional geotechnical studies to aid in pit design
• Biological surveys (vegetation and wildlife) according to a prescribed seasonal schedule
• Surface & groundwater study, including piezometers and monitoring wells
• Completion of the cultural and archaeological survey

Patrick Highsmith, Timberline's President and CEO commented, "This will be an exciting year at our Eureka Project as we combine high priority exploration targets with material work on the Lookout Mountain gold resource. The large Eureka CRD district is yielding high-grade silver at the Ruby Hill Mine and Fad Shaft projects, and we will kick off our 2023 drilling at New York Canyon where we have recently confirmed high-grade gold and silver at surface from what appears to be overlapping CRD and Carlin-type gold systems. Realizing that there are higher-grade gold targets in and around the Lookout - WWZ trend, we shall also be looking to fill in and grow the resource with drilling this year. We also intend to add value to that resource by completing key metallurgical, engineering, and environmental work that will be required for economic studies and permitting."