Timberline Announces Results from Second Fiscal Quarter

 Timberline Resources Corporation(TSXV:TBR) announced its second fiscal quarter results. The results from the quarter ending March 31st, 2012 reported a consolidated loss of $1.10 million but an increased resource at the Lookout Mountain property.

As quoted in the press release:

The Company’s consolidated results include income from discontinued operations of $2.12 million and $1.07 million for the six months ended March 31, 2012 and 2011, respectively. The income from discontinued operations for the six months ended March 31, 2012 includes a gain on the sale of TDI of $1.64 million.

Timberline, President and CEO, Paul Dircksen, commented:

Since signing the Letter of Intent to acquire 100% of the Butte Highlands Gold Project in Montana, we have been much more involved in the permitting and planning aspects of the project. While we revise our operating permit application and await response to our water discharge permit application, we are evaluating the potential for the delineation and extraction of a 10,000-ton bulk sample that is already permitted. We expect to finalize a definitive agreement for this acquisition before the end of this month.

Click here to read the Timberline Resources Corporation (TSXV:TBR) press release