Timberline Issues Corporate Update
COEUR D'ALENE, Idaho, Sept. 13, 2010 (GLOBE NEWSWIRE) -- Timberline Resources Corporation (NYSE Amex:TLR) (TSX-V:TBR) ("Timberline" or "Company") today issued a corporate update including its key messages, objectives and goals, and reported on the status of its current corporate and exploration activities, including the Timberline "new look" program.
Corporate Key Messages, Objectives and Goals
Timberline's corporate vision and strategy follows on the successful formation of the Butte Highlands Joint Venture in late 2009, and completion of the acquisition of Staccato Gold Resources Ltd. and its South Eureka, Nevada Property in June, 2010.The Company's primary focus is based upon its expertise in exploration and development of advanced-stage precious metal properties. With a proven track record of exploration and mining veterans leading the Company and at the board level, together with cash flow from its 100%-owned drilling subsidiary, Timberline Drilling, the Company has reduced risk and provides an attractive investment opportunity. With a business model centered on its primary focus of advanced exploration and development, Timberline will add value by advancing exploration and then realizing that added value for shareholders by monetizing projects that are ready for development to production. Monetization could be realized by any number of potential transactions ranging from sale to lease to joint venture (as with the Butte Highlands Joint Venture), carried or royalty interest. While becoming a direct producer/operator is not a primary focus of Timberline, the Company's board would nonetheless consider such an option in appropriate circumstances. Short term goals for Timberline include completion of the programs set out below for both the South Eureka Property and the Butte Highlands Joint Venture, the two key mining assets of the Company at this time. In addition, prudent growth of Timberline Drilling will remain a strategic goal for Timberline in the short and longer terms. Over the longer term, a substantially increased property portfolio, based on acquisition criteria similar to South Eureka, situated in North America, will be the Company's focus, together with increased market awareness and name recognition.
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