Timberline Appoints David Poynton As Director
COEUR D'ALENE, Idaho, Aug. 30, 2010 (GLOBE NEWSWIRE) -- Timberline Resources Corporation (NYSE Amex:TLR) (TSX-V:TBR) ("Timberline") is pleased to announce that Mr. David Poynton has joined Timberline's Board of Directors. Mr. Poynton brings over 30 years of experience with the mining industry, including the private practice of law, his partnership in a law firm affiliated with Ernst & Young LLP, and recently as a senior executive of two TSX Venture Exchange-listed mining companies.
Paul Dircksen, Timberline's Executive Chairman, said, "We have known and worked with David on various matters over the years, and it is a pleasure to now welcome him to our Board of Directors. He brings unique credentials to us, including valuable experience with the Canadian capital markets and legal environment. We will be working closely with David to execute our Toronto capital markets strategy, and we welcome him to our team."
Mr. Dircksen added, "Having recently completed our acquisition of the South Eureka property in Nevada, Timberline is focused on capitalizing on our expertise in exploration and development, advancing programs at South Eureka and elsewhere, and on our Butte Highlands JV where we are targeting gold production in 2011. With the advancement of these projects, and the positive results at our wholly-owned drilling subsidiary, all supported by robust metal prices, we see a time of exciting growth for Timberline. As a result, we will be executing a new plan for marketing and capital markets awareness for the company. We are currently reviewing and refining our corporate priorities for actively and aggressively growing the company and creating value for our shareholders."In connection with his appointment, Mr. Poynton has been granted 100,000 options to acquire common shares of Timberline at an exercise price equal to the fair market value of the stock at the time of the grant of US$1.10 per share, vesting immediately, and with a term of five years. Timberline also entered into an agreement with a company controlled by Mr. Poynton to provide consulting services.
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