Timberline Closes $5-Million Offering, Fast-Track Exploration to Continue at Lookout Mountain

- March 3rd, 2011

Timberline Resources Corporation (CVE:TBR,AMEX:TLR) reports that it has closed its $5-million offering of common stock.

Timberline Resources Corporation (TSXV:TBR,AMEX:TLR) reports that it has closed its $5-million offering of common stock. 

The press release is quoted as saying:

Proceeds from the financing will be used to continue the Company’s aggressive exploration program at its Lookout Mountain Gold Project on the prolific Battle Mountain-Eureka Trend of central Nevada.

Timberline’s Executive Chairman, Paul Dircksen says:

“Our recent work at Lookout Mountain strongly supports our belief in the potential for near-term development of a low capital, low operating cost, open pit, heap-leach gold mine.  This financing will allow us to maintain momentum with continued resource expansion drilling, along with exploration drilling at other priority targets at South Eureka.  We expect to release an updated NI 43-101 gold resource for Lookout Mountain within the next two weeks, as soon as current metallurgical tests are sufficiently complete, and we are also beginning work on a Preliminary Economic Assessment (PEA) of the project.  With anticipated gold production by early Q1 2012 at Butte Highlands, where development is completely funded by our JV partner, we believe that Timberline is exceptionally well-positioned for the ongoing bull market in gold.” 

Click here to access the entire news release.

Click here to access Timberline’s company profile.

2 responses to “Timberline Closes $5-Million Offering, Fast-Track Exploration to Continue at Lookout Mountain

  1. When the fourth Central Bank of the United States collapses it will become apparent that fractional Fiat Banking, as well as allowing private banks (which is what the fed is) by action of congress to print Notes, with nothing behind them, which are accepted by the United States treasury as payment for purchasing treasury obligations. that legal counterfeiting is unconstitutional. Merchants have always been able to determine what real money is.To imagine the better alternative is to bear endless legal counterfeiting and inflation is insanity. The emperor has no clothes. The emperor, this time, is aware of it.

  2. When the fourth Central Bank of the United States collapses it will become apparent that fractional Fiat Banking, as well as allowing private banks (which is what the fed is) by action of congress to print Notes, with nothing behind them, which are accepted by the United States treasury as payment for purchasing treasury obligations. that legal counterfeiting is unconstitutional. Merchants have always been able to determine what real money is.To imagine the better alternative is to bear endless legal counterfeiting and inflation is insanity. The emperor has no clothes. The emperor, this time, is aware of it.

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