Timberline Announces the Purchase of 19 Patented Claims

Timberline Resources Corporation(TSXV:TBR) announced that it has excercised its option to purchase 19 patented claims. The claims cover 211 acres on the Windfall and Oswego Structural trends at its South Eureka property.

As quoted in the press release:

The western-most Lookout Mountain Structural Trend has been Timberline’s exploration focus since acquiring the property package in mid-2010. An updated NI 43-101 resource estimate for Lookout Mountain is expected shortly, incorporating the 2011 drill results, and is expected to expand the previously announced Measured and Indicated resource estimate(1) of 286,000 ounces of gold and the Inferred resource estimate(1) of 206,000 ounces of gold.

Timberline, President and CEO, Paul Dircksen, said:

We are very pleased to exercise this option at South Eureka. We believe that we have acquired a substantial exploration target with excellent blue-sky potential for the equivalent of a few dollars per gold ounce. While we recognize the early nature of our estimated targets at Windfall, we are confident that our project team has a solid understanding of the local controls to gold mineralization and we plan to advance these targets into compliant resources. The purchase of these patents also provides continuity of our South Eureka package and will facilitate our environmental and permitting efforts. This acquisition further demonstrates our commitment to develop South Eureka at Lookout Mountain and several other project areas within the greater South Eureka district.

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