COEUR D’ALENE, ID / ACCESSWIRE / May 24, 2018 / Timberline Assets Corporation (OTCQB: TLRS; TSX-V: TBR) (“Timberline” or the “Company”) appear today that it has active a absolute acquirement and auction acceding (the “Agreement”) to admission buying interests in two Nevada gold-copper mineral backdrop amid in the world-class Battle Mountain mining commune (the “Properties”) from Americas Gold Exploration, Inc. (“AGEI”).
The accretion includes the appropriate to admission into absolute collective adventure agreements with McEwen Mining Inc. (“McEwen”) at the Elder Creek Project, and with Lac Minerals (USA) LLC, a wholly endemic accessory of Barrick Gold Corporation (“LAC”) at the Paiute Project. The transaction application consists of ten actor shares of the Company’s accepted banal and bristles actor non-transferrable allotment acquirement warrants, with anniversary accreditation exercisable to admission one allotment of the Company’s accepted banal for US$0.24 for a aeon of three years. In addition, the Company shall bear to AGEI, accountable to any appropriate authoritative approval, an added 5,000,000 accepted banal acquirement warrants with the aforementioned acceding and in the aforementioned anatomy as the Application Warrants if and back the beforehand of the afterward occurs: (i) Timberline enters into an adjustment with a allotment accomplice for the advance of the Elder Creek Collective Venture, or (ii) Timberline has met the 2018 assignment charge of $500,000.
Upon closing the accretion of these acreage interests, Timberline will become the abettor and administrator of both of these collective ventures. In addition, Mr. Don McDowell will become a Vice President of Timberline, and AGEI will acquire the appropriate to accredit two new admiral to Timberline’s Board of Directors.
The Elder Creek Activity covers a affirmation accumulation of about fourteen aboveboard afar with two ample porphyry analysis targets, characterized as abstracted gold-copper-molybdenum and copper-molybdenum-silver anomalies articular in basement and soils. Compilation of all-encompassing abstracts generated by AGEI, beneath a antecedent acceding with McEwen, indicates that the activity contains geologic, geophysical, and geochemical signatures agnate to those in abounding ample copper-gold porphyry deposits both in the Battle Mountain commune and globally. The primary ambition breadth extends over bristles aboveboard afar and has a axial bulk that is about one mile in bore which has never been assignment tested. The adjacent, added ambition extends beyond four aboveboard afar and has a axial ambition breadth accoutrement one and a bisected aboveboard miles, which has had absolute bound absolute conduct with best of the arrangement untested.
The Paiute activity represents a bristles aboveboard kilometer acreage amalgamation with a gold-silver ambition and a copper-gold porphyry ambition anon southeast and adjoining to Elder Creek and two and a bisected kilometers west of Newmont’s Chestnut Basin copper-gold porphyry deposit. The acreage includes a structural breadth that is about 2,500 meters continued by 500 meters advanced with assorted abstinent high-grade gold targets based on both contempo and celebrated prospecting and bedrock and clay geochemical sampling. The acreage additionally contains a bulk breadth with abeyant for analysis of porphyry copper-gold mineralization agnate to Newmont’s Chestnut Basin deposit. Apparent sampling and assignment testing are planned for the accessible acreage division with abounding conduct permits in place. AGEI currently owns 73.7% of the collective adventure absorption and is the activity operator. Aloft closing this transaction, Timberline will acquire AGEI’s buying in the Paiute collective adventure and will be the activity operator.
Initial fieldwork has been completed on the Elder Creek and Paiute projects, including added bedrock sampling to abutment the Company’s on-going analysis of an extensive, celebrated database on anniversary project.
At the Company’s Eureka project, acreage assignment is additionally in advance with a focus on the development of new targets to accompaniment the Company’s absolute NI 43-101 gold ability estimate. Samples acquire been submitted to ALS Chemex, with appraisal after-effects advancing in the absolute a future.
Timberline’s President and CEO, Steve Osterberg, commented, “After spending cogent acreage time at Elder Creek and Paiute, the abeyant of these projects is absolute bright for the analysis of large, high-grade structural gold deposits like the adjacent Lonetree Mine, and copper-gold porphyry deposits of the well-mineralized, world-class Battle Mountain district. We attending advanced to amalgam AGEI’s assets and aggregation in advancing these projects forth with our absolute Eureka gold project, which is amid further south in the Battle Mountain-Eureka gold trend.”
The Elder Creek collective adventure acceding with McEwen includes the appropriate to admission an antecedent 51% buying of the activity by:
In adjustment to admission an added 14% buying absorption in the Elder Creek acreage collective venture, giving the Company a 65% interest, Timberline charge acquire an added $2.5 actor in acreage expenditures by December 31, 2023, with at atomic $1.0 actor of that actuality incurred by December 31, 2022.
About Timberline Resources
Timberline Assets Corporation is focused on advancing district-scale gold analysis and development projects in Nevada, including its 23 square-mile Eureka property, comprised of the Lookout Mountain, Windfall, and Oswego projects which lie forth three abstracted structural stratigraphic trends authentic by audible geochemical gold anomalies; and as abettor of two collective adventure projects – the Paiute activity collective adventure with a accessory of Barrick Gold, and the Elder Creek activity collective adventure with McEwen Mining. All of these backdrop lie on the abounding Battle Mountain-Eureka gold trend. Timberline additionally owns the Seven Troughs acreage in arctic Nevada, accepted to be one of the state’s accomplished grade, above producers. Timberline has added its endemic and controlled mineral rights in Nevada to over 43 aboveboard afar (24,500 acres). Detailed maps and NI 43-101 adjustable estimated ability advice for the Eureka acreage may be beheld at http://timberline-resources.com/.
Timberline is listed on the OTCQB area it trades beneath the attribute “TLRS” and on the TSX Adventure Exchange area it trades beneath the attribute “TBR”.
Steven Osterberg, Ph.D., P.G., Timberline’s President and Chief Executive Officer, is a Qualified Person as authentic by National Instrument 43-101 and has advised and accustomed the abstruse capacity of this release.
Cautionary agenda to U.S. investors apropos estimates of resources: This columnist absolution may use the acceding “resource”, “measured resources”, “indicated resources”, “inferred resources” and “measured & adumbrated resources.” We admonish U.S. investors that while these acceding are authentic in and appropriate by Canadian regulations, these acceding are not authentic acceding beneath the United States Securities and Exchange Commission (“SEC”) Industry Guide 7 and are commonly not acceptable to be acclimated in letters and allotment statements filed with the SEC. The SEC commonly alone permits issuers to address mineralization that does not aggregate SEC Industry Guide 7 adjustable “reserves” as in-place burden and brand after advertence to assemblage measures. U.S. investors are cautioned not to acquire that any allotment or all of the mineral deposits in these categories will anytime be adapted into SEC Industry Guide 7 reserves.
Statements independent herein that are not based aloft accepted or absolute actuality are advanced in attributes and aggregate advanced statements aural the acceptation of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such advanced statements reflect the Company’s expectations about its approaching operating results, performance, and opportunities that absorb abundant risks and uncertainties. These statements accommodate but are not bound to statements apropos accepting buying of two Nevada mineral backdrop in the Battle Mountain mining district, rights to be included in the abeyant acquisition, accessible arising of codicillary warrants, accordant with a accomplice to armamentarium the Elder Creek collective venture, affair the 2018 assignment charge at Elder Creek, collective adventure agreements with McEwen Mining and Lac Minerals, a accessory of Barrick Gold, type, acceding and bulk of application for the transaction, the timing for the closing of the transaction, Timberline acceptable the abettor and administrator of the collective ventures, accession of a Vice President, the appropriate of AGEI to accredit two admiral to Timberline’s Board of Directors, similarities of geologic signatures of the Elder Creek acreage to ample porphyry deposits, admeasurement of the axial core, absorption from above mining companies in the development of Elder Creek, abeyant for analysis of porphyry copper-gold mineralization agnate to the Chestnut Basin deposit, apparent sampling and assignment testing for the accessible acreage division at Paiute, abeyant for analysis of above deposits of gold and copper, advance of actor value, abetment of admission to capital, abeyant costs opportunities, including disinterestedness offerings and cardinal partnerships, affiliation of AEGI’s assets and team, earning an absorption in the Elder Creek JV, approaching expenditures to admission the absorption in the Elder Creek JV, focus on advancing the Windfall and Lookout Mountain projects at the Eureka property, the advance of projects, analysis potential, and the admeasurement of Timberline’s circumscribed endemic and controlled mineral rights in Nevada. Back acclimated herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and agnate expressions, as they chronicle to Timberline Assets Corporation, its subsidiaries, or its management, are advised to analyze such advanced statements. These advanced statements are based on advice currently accessible to the Company and are accountable to a cardinal of risks, uncertainties, and added factors that could account the Company’s absolute results, performance, prospects, and opportunities to alter materially from those bidding in, or adumbrated by, these advanced statements. Factors that could account or accord to such differences include, but are not bound to, risks accompanying to changes in the Company’s business and added factors, including accident factors discussed in the Company’s Anniversary Address on Anatomy 10-K for the year concluded September 30, 2017. Except as appropriate by law, the Company does not undertake any obligation to absolution about any revisions to any advanced statements.
Neither the TSX Adventure Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Adventure Exchange) acquire albatross for the capability or accurateness of this release.
For Further Advice Please Contact:
Steven A. Osterberg President and CEO Tel: 208-664-4859 E-mail: [email protected]
SOURCE: Timberline Assets Corporation
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