Timberline Issues Corporate Update
Paul Dircksen, Executive Chairman of Timberline said, "We are very excited about the prospects for Timberline and its future. We are building on our expertise in exploring and developing, and so we will be looking to future South Eureka-type acquisitions that we believe can quickly create value for our shareholders. The Butte Highlands Joint Venture is an example of the type of transaction we might see as we advance a property – allowing another company to take the production step, but retaining a significant interest in Timberline for our shareholders. Timberline truly delivers diversified value. We see a time of exciting growth for Timberline, and will be executing a concerted focus on marketing and capital markets awareness given our new TSX-V listing and our representation in Toronto. As part of that process, we will be reviewing shareholder interaction and our website so as to allow greater access to current information and news about Timberline. I would like to take this opportunity to extend my thanks to all our Timberline, Timberline Drilling, and Butte Highlands JV teams for all their efforts, and especially to all our shareholders for your continued support of your company."
South Eureka Property, Nevada
At its flagship South Eureka Property, which is one of the largest undeveloped exploration properties in Nevada, encompassing some 23 square miles, and which is situated within four miles of the Archimedes Mine, Timberline is executing its 2010 Exploration Program, the details of which were set out in a press release dated August 3, 2010.With a budget for RC and core drilling, along with property payments and additional geophysics and metallurgical analysis totalling approximately USD $2.2 million, it is expected that Timberline will be able to further define and understand, and potentially expand, the previously reported resource estimates. Drilling results are expected by the end of 2010, and the Company intends to prepare and file a NI 43-101 Report by the end of February, 2011. Final completion of an evaluation leading to a Preliminary Economic Analysis is targeted for Q2 2011.
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