gold exploration in nevada...2021/01/27 · pure play gold exploration growing from an existing...

D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G

GOLD EXPLORATION IN NEVADA2021 CORPORATE PRESENTATION

OTCQB: TLRS ǀ TSX.V: TBR



CAUTIONARY STATEMENTS

2

Forward Looking StatementsStatements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect theCompany's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statementsinclude but are not limited to: statements regarding the Eureka Project resources and exploration targets, statements regarding future extraction operations,monetizing non-core assets, enhancing management team and board, and leveraging dual listing. When used herein, the words "anticipate," "believe,""estimate," “upcoming,” "plan," “target”, "intend" and "expect" and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or itsmanagement, are intended to identify such forward-looking statements. These forward- looking statements are based on information currently available to theCompany and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, andopportunities to differ materially from those expressed in, or implied by, these forward- looking statements. Factors that could cause or contribute to suchdifferences include, but are not limited to, risks related to exploration projects, risks related to mining activities, risks related to potential future transactions, risksrelated to the Company continuing as a going concern, risks related to the ability to finance any payments due, risks related to project development decisions,risks related to mineral resource estimates and other such factors, including risk factors discussed in the Company's most recent Annual Report on Form 10-Kand Quarterly Reports on Form 10-Q. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly anyrevisions to any forward-looking statements..Cautionary StatementsCautionary note to United States Investors Regarding Estimates of Resources: This presentation uses the terms "Measured Resources", "Indicated Resources","Measured & Indicated Resources" and “Inferred Resources” We advise U.S. investors that while these terms are defined in and required by Canadianregulations under Canadian National Instrument 43-101, these terms are not defined terms under United States Securities and Exchange Commission (“SEC”)Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Under SEC Industry Guide 7 standards, a“final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis todesignate reserves and all necessary permits and governmental authorizations must be filed with the appropriate governmental authority. Investors arecautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. “Inferred Mineral Resources” have agreat amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of anInferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis offeasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or iseconomically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SECnormally only permits issuers to report mineralization that does not constitute “reserves” by SEC Industry Guide 7 standards as in place tonnage and gradewithout reference to unit measures.For Lookout Mountain resources, refer to Updated Technical Report on the Lookout Mountain Project effective March 1, 2013 and filed on SEDARApril 12, 2013. For Paiute, refer to the Technical Reports effective and filed on SEDAR on November 28, 2018 .Steven Osterberg, PhD, P.G., Timberline’s Vice President Exploration, is a Qualified Person as defined by NI 43-101 and has reviewed and approved thetechnical contents of this presentation.



OVERVIEW

WORLD-CLASS TREND

ADVANCED STAGE PROJECT WITH

OXIDE GOLD RESOURCE

DEFINED

DISTRICT SCALE ASSET WITH SIGNIFICANT

GROWTH POTENTIAL

HIGHLY EXPERIENCED TEAM



ABOUT TIMBERLINE RESOURCES

4

The district-scale Eureka Project is located on the prolific Battle Mountain-Eureka Trend. The Lookout Mountain Target hosts a Carlin-type gold deposit with historic production and defined resources. Exploration at the nearby Windfall Target aims to expand a gold deposit that was one of the first open pit heap-leach gold mines in Nevada*.

The Paiute Project is located within the actively producing Battle Mountain gold district. At Paiute, Timberline has an 80% ownership interest in a partnership with Nevada Gold Mines. Gold mineralization occurs within a multi-km long structural zone similar to the nearby multi-million-ounce Lone Tree Deposit, and with associated gold-enriched intrusions.

Our final project, Seven Troughs, is a low-sulfidation epithermal system historically mined at small-scale in the early 1900s. Gold was produced at grades of >40 grams/tonne with >130 grams/tonne silver from multiple vein systems*.

Timberline trades on the OTCQB as “TLRS” and on the TSX Venture as “TBR”.

Timberline Resources Corporation is an explorer for gold in Nevada, a world class mining jurisdiction.

The Lookout Mountain Target hosts a Carlin-type gold deposit with historic production and defined resources.

* Timberline cautions that proximity to an active or past-producing mine does not indicate that mineralization will occur on Timberline’s property, and if present, thatit will occur in sufficient quantity or grade that would be economic to mine. This information is provided to the reader for context and as an indication of potential.



MANAGEMENT & BOARD

5

Patrick Highsmith, President, CEO & Director• Over 30 years of international experience including operational,

exploration, and business development roles with Newmont Mining, BHP, Rio Tinto, and Fortescue Metals Group

• Director and senior executive in several junior companies including Lithium One, Bellhaven Copper & Gold, Pure Energy Minerals, Idaho Champion Gold Mines and FireFox Gold

Steven Osterberg, Ph.D., P.G., Vice President, Director• Over 30 years of gold and base metals exploration, permitting,

development, closure, and management experience• Senior technical and management positions with junior to major mining

groups, as well as engineering and consulting firms, including BHP Minerals, Knight Piésold, and Tetra Tech

Donald McDowell, Vice President, Director• Over 30 years of mining-related exploration, property evaluation, and

resource development primarily in Nevada, including 17 years with majors (Santa Fe Pacific Gold, Kennecott, Nippon Mining)

• Founder of Americas Gold Exploration Inc. dedicated to exploration in Nevada, including instrumental role in the Carlin Vanadium deposit

Ted Sharp, Chief Financial Officer, C.P.A.• President of Sharp Executive Associates, Inc., a privately held firm which

provides CFO services to the exploration and mining resource sector • 14 years in positions of CFO, Managing Director of European Operations,

and Corporate Controller for Key Technology, Inc., a publicly traded manufacturer of capital goods.

Leigh Freeman, Director, Chairman • Over 35 years of mining industry experience in technical and executive

positions, including former chief geophysicist Placer Dome, co-founder/CEO of Orvana Minerals, and former CEO of Blue Sun Energy

• Advisor to Montana Tech, University of Arizona, and South Dakota School of Mines

Quinton Hennigh, Ph.D., Director• An internationally-renowned economic geologist with over 25 years

experience including Homestake, Newcrest Mining, and Newmont where he served as a senior geologist

• Significant involvement at Springpole-Ontario, Fosterville-Australia, and Tuvato-Fiji, among others

• Founder, Chairman and President of Novo Resources, an emerging Australian gold producer

Paul Dircksen, Director • Over 35 years in precious metals worldwide exploration, development, and

mining• Senior management positions with Orvana Minerals, Lacana Gold, the

Cordex Syndicate, Brett Resources and Bravo Venture Group

David Mathewson, Director • Over 50 years of gold exploration experience, primarily in Nevada;

recognized as industry-leading expert on Carlin-Type gold deposits• Former Newmont exploration manager, leading notable discoveries at

Tess, NW Rain, Saddle, Emigrant, Emigrant South, Gold Quarry and Mike

William Matlack, Director • Over 20 years in precious metals exploration with Gold Fields and Santa

Fe Pacific Gold Corp.• Equity research analyst with Citigroup and BMO Capital Markets• Director and Interim CEO of Klondex Mines during transformation from

explorer to gold producer



INVESTMENT HIGHLIGHTS

6

(1) Refer to Updated Technical Report on the Lookout Mountain Project, MDA, Effective March 1, 2013, Filed on SEDAR April 12, 2013

Nevada: World-Class Mining Jurisdiction

Attractive Capital Structure (112 M shares; 28% board ownership)

Pure Play Gold ExplorationGrowing from an existing Carlin-Type

gold resource

Gold resource in place (1)

M & I: 508,000 ounces; Inferred: 141,000 ounces

Associated high-grade Carlin-type gold mineralization (> 3 g/t)

District scale potential


7

• Nevada: A top-ranked global mining investment jurisdiction

• 23 major gold mines, producing 5 million oz. annually

• Second largest gold reserves in the world

• Consistent top-5 ranking in mining investment surveys from Fraser Institute and others

• Battle Mountain-Eureka Trend hosts several multi-million-ounce gold districts, mines

• Timberline pipeline includes the opportunity for high-grade AND district scale gold plays

• Eureka: District-scale, advanced exploration with additional early-stage discovery opportunities

• Paiute: Gold porphyry and structural gold targets near Battle Mountain, JV with Nevada Gold Mines

• Seven Troughs: Exploration of historic district for high-grade gold and silver

NEVADA FOCUSLAND OF GIANTS


Lookout Mountain

Ruby Hill

Gold Bar

Gold Pick

Buckhorn

Cortez

Tonkin Springs

Pipeline

Goldrush/Four Mile

8

EUREKA PROJECTBattle Mountain-Eureka Gold Trend

• Carlin-type gold deposits – sediment-hosted gold

• Battle Mountain-Eureka Trend hosts several multi-million ounce gold occurrences• Pipeline Complex

• Cortez/Cortez Hills

• Goldrush/Four Mile

• Ruby Hill / Archimedes

• Phoenix Complex

• Lone Tree/Marigold

• District-scale potential with more than 250 permitted drill sites

Windfall

Battl

e M

tn-

Eure

ka T

rend

4 km

N

Eureka Project


9

(1) Refer to Updated Technical Report on the Lookout Mountain Project, MDA, Effective March 1, 2013, Filed on SEDAR April 12, 2013(2) Refer to Timberline Press Releases dated April 20, 2015, June 12, 2018, Aug 8, 2018, Dec 1, 2020, and Jan 7, 2021

Gold Trends:Rock and Soil Geochemistry

Oswego Mine Target86m @ 12.38 g/t Au road cut

NI 43-101 Resource(1)

508,000 oz, M&I141,000 oz, Inf

EUREKA PROPERTY Historic Production, Gold Trends, and Targets

District-scale: 24 mi2 (60 km2) land package remains largely under-tested; multiple target areas

• ~8 km south on-trend from former Barrick Ruby Hill Gold Mine (now Waterton Global)

Carlin-type gold system with three mineralized trends each with ≥ 4 km strike length

Lookout Mountain Gold Resources(1)

• At surface oxide resource in place• Associated High-grade Gold Zone (> 3 g/t); recently

drilled, open for expansion along strike and at depth (2)

Windfall Target: • Historic open pit gold production: 115,000 oz., run-of-

mine heap leach

Windfall Target

Historical producer115,000 oz Au



EUREKA PROPERTY Regional Geology

10

• Favorable Cambrian to Ordovician host strata:• Favorable host rocks: Dunderberg

Shale, Hamburg Dolomite, Secret Canyon Shale, Geddes Limestone

• Favorable fluid source, pathway, and trap architecture in fold belts

− Anticline folds; faults− Associated intrusive centers

− Collapse breccias− Dolomitization

• Open on-strike and at depth with under-explored feeder-related, high-grade gold mineralization


D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G 11

EUREKA PROJECTDistrict-scale Gravity Survey

• Large scale survey aimed at mapping major structures and alteration

• 1,546 stations on a staggered 200m grid

• Known mineralization and trends align with regional scale structures

• Important flexures and cross structures may be associated with known gold deposits

• Cluster of intrusive rocks evident in the north of project area

• Ongoing gravity surveys to fill-in and better resolve structure



EUREKA PROJECTGold Resources

12

Multi-km Strike Carlin-type gold system with associated high-grade trend

(1) Refer to Updated Technical Report on the Lookout Mountain Project, MDA, Effective March 1, 2013, Filed on SEDAR April 12, 2013

WE

NI 43-101N-S Gold Resource Trend

High-grade, multi-g/t Au zone(see slides 13 - 15)

Resource Category Tonnage (millions short tons)

Grade (oz/ton)

Grade (grams/tonne)

Contained Au(1)(troy oz)

Measured 3.04 0.035 1.20 106,000Indicated 25.90 0.016 0.55 402,000Measured + Indicated 28.94 0.018 0.62 508,000Inferred 11.71 0.012 0.41 141,000



Completed 2,438m (8,000 ft) of RC drilling, mostly inside resource area. All assays reported.

• Confirmed and expanded oxide high-grade zone along Lookout Mountain Fault Zone

• Expanded Water Well Discovery Zone – well beyond existing resource

Completed 1,365m (4,480 ft) of core drilling outside the resource area – significant step outs. All assays pending.

• Reported the presence of significant alteration, brecciation, and sulfide mineralization

• Core holes provided much more geological information to the east into the graben structure known to host major IP anomalies

EUREKA PROPERTY Summary of 2020 Drilling


14

EUREKA PROJECT Summary of 2020 Drilling

Lookout Mountain: 2020 Significant Drill Intercepts(1, 3)

Drill HoleFrom

Length(2) (feet)Gold

From (meters) Length(2) (meters)Gold

(feet) (opt) (g/t)

BHSE-176 0 25 0.077 0 7.62 2.63

including 15 5 0.254 4.57 1.52 8.72

BHSE-176 70 50 0.294 21.34 15.24 10.09

including 80 30 0.476 24.38 9.14 16.31

including 80 10 0.916 24.38 3.05 31.4

BHSE-176 380 45 0.028 115.82 13.72 0.97

BHSE-176 460 90 0.026 140.21 27.43 0.88

BHSE-177 0 60 0.025 0 18.29 0.87

BHSE-177 215 160 0.029 65.53 48.77 1.00

BHSE-177 495 90 0.015 150.88 27.43 0.51

BHSE-178 10 195 0.018 3.05 59.44 0.63

including 10 90 0.025 3.05 27.43 0.84

BHSE-179 760 120 0.021 231.65 36.58 0.71

including 765 50 0.030 233.17 15.24 1.03

BHSE-180 160 25 0.016 48.77 7.62 0.56

BHSE-181 160 15 0.015 48.77 4.57 0.50

BHSE-182 160 60 0.046 48.77 18.29 1.58

BHSE-183 hole lost before target depth

BHSE-184 10 60 0.027 3.05 18.29 0.93

BHSE-184 160 50 0.015 48.77 15.24 0.51

BHSE-186 15 20 0.152 4.57 6.1 5.21

BHSE-186 155 85 0.022 47.24 25.91 0.77

including 160 30 0.032 48.77 9.14 1.09

BHSE-187 875 85 0.064 266.7 25.91 2.18

including 875 25 0.131 266.7 7.62 4.49

BHSE-188C assay data pending

BHSE-189 Anomalous gold below cutoff grade



(1) Drilling and sampling conducted in feet. Intervals are converted from feet to meters for reporting.(2) Drill Thickness: True Thickness undetermined.(3) Cutoff grade of 0.3 g/t Au applied for interval calculations.



EUREKA: LOOKOUT MOUNTAIN TARGET An Important High-Grade Zone

1Refer to Updated Technical Report on the Lookout Mountain Project, MDA, Effective March 1, 2013, Filed on SEDAR April 12, 2013 and the Company’s April 20, 2015 press release

• Recognition of high-grade gold (> 3 g/t) zone associated with favorable stratigraphy and major structural zone and often oxidized

• Introduction of gold with brassy and sooty sulfides and As, Sb, Hg, Tl, and Zn pathfinder elements

Lookout Mountain: Selected High-Grade Gold Intercepts(1)

Drill Hole From (feet)

Length (feet)

Gold (opt)

From (meters)

Length (meters)

Gold (g/t)

BH06-10 0 50 0.537 0 15.2 18.42

BH05-01 270 65 0.344 82.3 19.8 11.79

including 275 25 0.641 83.8 7.6 21.98

BR-19 385 75 0.283 117.4 22.9 9.7BHSE-029C 391 58 0.349 119.2 17.7 11.95

BH06-07 406 92 0.217 123.8 28 7.44

RTR-134 415 55 0.345 126.5 16.8 11.83

BHSE-176 70 50 0.294 21.34 15.24 10.09

BHSE-126C 31 15 0.967 9.5 4.6 33.15BH06-16 0 33 0.376 0 10 12.88

BH06-02 445 27 0.364 135.7 8.2 12.48

BHSE-151C 506 9 1.023 154.3 2.7 35.07

BH05-03 193 3 2.25 58.8 0.9 77.14BR-26 440 20 0.323 134.1 6.1 11.07

BHSE-172 900 40 0.136 274.3 12.2 4.66

BH06-13 148 3 1.47 45.1 0.9 50.4

RTR-258 500 10 0.43 152.4 3 14.74

RTR-180 365 10 0.345 111.3 3 11.83BHSE-187 875 25 0.222 266.7 7.62 4.49

BHSE-186 15 20 0.152 4.57 6.1 5.21Drill thickness - True widths of intercepts have not been determinedRed intervals were reported from 2020 drilling program



EUREKA PROJECTIP Geophysics

16

• 28.3 line kilometers of data collected along 8 lines

• 200-meter dipole-dipole survey

• Targeted Lookout Mountain Trend and graben targets to the east

• 1 line testing Windfall Target

• Multiple chargeability anomalies indicated, suggesting the presence of sulfides and/or graphite



EUREKA PROJECTIP Geophysics with 2020 Drilling and Block Model

17

• 3D Model of IP Chargeability (15 mv/v) with Lookout Resource (Looking NW)

200 meters

**To Emphasize 2020 Drilling All Drilling is NOT Shown**



EUREKA PROPERTY: WINDFALL TARGETGold Mineralization Plan and Section

• 100% Timberline Ownership (patented claims)

• Windfall Mine (1975-1984)• Among industry’s first stand-alone open pit heap

leach operations• Excellent historic gold leach recovery on Run-of-

Mine ore

• 2.7 km major structural zone with coincident gold mineralization

• Target expansion and connection of historic open pits

BHWF-03727.4 m @ 2.20 g/t incl.13.7 m @ 3.68

Rustler Pit:~50,000 Ounces Produced

Windfall Pit:32,077 Ounces Produced

South Paroni Pit:~31,800 Ounces Produced

BHWF-03612.2 m @ 1.26 g/t

BHWF-03824.4 m @ 0.32 g/t

400 m

N

1,500 ft

BHWF-03910.7 m @ 0.46 g/t

BHWF-04118.3 m @ 1.24 g/t

BHWF-04024.4 m @ 3.04 g/t incl.6.1 m @ 8.79

EW



EUREKA PROPERTY: WINDFALL TARGETGold Mineralization: Drilling and Surface Sampling

Drill Hole

From (feet)

Length(1)

(feet)Gold

(oz/ton)From

(meters)Length

(meters)Gold (g/t)

BHWF-036 290 40 0.04 88.4 12.2 1.26

BHWF-037 185 90 0.06 56.4 27.4 2.20

including 185 45 0.11 56.4 13.7 3.68

BHWF-040 290 80 0.09 88.4 23.4 3.04

including 305 20 0.26 93.0 6.1 8.79

BHWF-041 230 60 0.04 70.1 18.3 1.24

• 40 gold-bearing surface samples(2)

within and south of historic Windfall Pit• maximum 13.1 g/t (0.382 opt)

• 6 samples >3.0 g/t (0.088 opt)

• 10 samples >1.0 g/t (0.029 opt)

• 17 samples >0.25 g/t (0.007 opt)

1 see Press Release dated April 20, 2015 for additional detail; true widths of the drill intercepts have not been determined2 see Press Release dated August 8, 2018 for additional detail

Surface Sample(2)

Gold (oz/ton)

Gold(g/t)

Surface Sample

Gold (oz/ton)

Gold(g/t)

18WF-009 0.05 1.72 18WF-047 0.225 7.7118WF-011 0.031 1.05 18WF-049 0.008 0.27518WF-013 0.036 1.25 18WF-051 0.011 0.38618WF-034 0.009 0.303 18WF-053 0.018 0.6118WF-035 0.088 3.02 18WF-054 0.089 3.0618WF-036 0.382 13.1 18WF-055 0.094 3.2218WF-037 0.021 0.711 18WF-056 0.074 2.5218WF-039 0.012 0.408 18WF-062 0.119 4.0818WF-041 0.027 0.927

*Assays were determined by ALS USA Inc. from grab samples. The samples were crushed and pulverized and a fraction was selected for analyses. Gold was determined by 30 g Fire Assay with an Atomic Absorption finish. Samples assaying over 10g/t gold were re-assayed and completed with a gravimetric finish.

W E

Cross-section between Rustler and Windfall Pits


20

EUREKA PROJECT: CATALYSTS

• Lookout Mountain:• Drilling (Q3-Q4/2020):

• Core – Large step-out holes pending• RC – Expanded Water Well Zone Target

• Strong IP Anomalies Reinforce Targets• NI43-101 Resource update during Q1 –

Q2/2021 to include new geologic model, new high-grade hits and other consistent oxide drill intercepts

• More geophysics and drilling planned for Q2&Q3 2021 - >250 permitted drill sites

• Windfall Trend: • New mapping traces gold-bearing contact

for more than 8km north to south• Follow-up geophysics

• Lookout South and Rocky Canyon: • High-grade pods on Lookout Fault Zone

set for drill testing, incorporating new geologic model and new geophysics


21

PAIUTE PROJECTBattle Mountain District

• Battle Mountain District • World-class mining district: >25 million oz. gold

and 2 billion lbs. copper

• 3 Producing Mines• Nevada Gold Mines, Inc.:

• Lone Tree Gold Mine• Phoenix Gold & Copper Mine (42-year planned

expansion)• Copper Basin: copper-gold development;

historic gold mining

• SSR Mining: Marigold Mine Complex

• Paiute: Lone Tree-type structural Au & Au porphyry• 80% current ownership in Joint Venture with

Nevada Gold Mines LLC (Barrick-Newmont Goldcorp partnership)

• 64 unpatented mining claims: ~1,150 acres


22

PAIUTE PROJECTGeology, Geochemistry, and Targets(1)

(1) See Press Releases dated May 28, 2018, at http: timberline-resources.co/press-releases, and Technical Report on the Paiute Project, Thomas Bidgood, Effective November 28, 2018, Filed on SEDAR November 28, 2018.

• Gold-Silver Structural Target• “Lone Tree-type”: High grade structural

gold-silver; strong vein control• 2 km by 500 m wide corridor • Gold assays up to 42.9 g/t and > 1 g/t

(0.029 oz/ton) in 10 (of 21) 2018 samples(1)

• Shallow historic drilling (typ <150 m)

• Gold Porphyry Target• Multiple-phase granodiorite porphyry

• Strong silica (quartz) – sericite and propylitic alteration

• Multiple historic and 2019 drill hole gold intercepts



PAIUTE PROJECT2019 Drilling Results(1)

(1) See Press Releases dated January 16, 2020 at http: timberline-resources.co/press-releases and sample and QA/QC protocols.

Drill Hole From (feet)

To (feet)

Total (feet)

From (meters)

To (meters)

Total (meters)

Au(g/t)

Ag (g/t)

As (ppm)

Ba (ppm)

S (%)

PCRC19-01 295 420 125 89.9 128.0 38.1 0.356 0.4 673 266 1.5including: 340 420 80 103.6 128.0 24.4 0.442 0.5 968 185 1.9

PCRC19-02 0 710 (TD) 710 0.0 216.4 216.4 0.271 0.5 72 849 0.3including: 0 40 40 0.0 12.2 12.2 0.606 0.9 292 648 0.0

110 140 30 33.5 42.7 9.1 0.488 0.5 43 872 0.1150 230 80 45.7 70.1 24.4 0.514 0.4 27 1123 0.2190 215 25 57.9 65.5 7.6 1.123 0.6 12 1280 0.2280 390 110 85.3 118.9 33.5 0.359 0.3 39 720 0.2490 500 10 149.4 152.4 3.0 0.511 0.1 30 1070 0.2525 545 20 160.0 166.1 6.1 0.340 0.2 20 598 0.3555 600 45 169.2 182.9 13.7 0.198 0.4 20 828 0.4610 640 30 185.9 195.1 9.1 0.400 1.0 33 1023 0.8685 710 25 208.8 216.4 7.6 0.478 0.8 38 680 0.6

*True thickness of drill intercepts is unknown. **TD: drill hole total depth


24

• Off-set drilling to 2019 gold-porphyry discovery hole

• Advance target definition with IP/Resistivity

• Evaluate detailed magnetic data with follow-up drilling

• Drill test Lone-Tree type structural gold target

PAIUTE CATALYSTS


25

SEVEN TROUGHS PROPERTYHistoric Gold and Silver Production

• Property Location• 25 miles northwest of Lovelock, NV in Pershing

County• 4,300 - acre district: Patented and BLM unpatented

claims under lease

• Historic Production• Small-scale mining/exploration operations through

the early 20th century

• 150,000 oz cumulative gold production from several underground mines

• Among the highest-grade gold production in Nevada mining history (41 g/t gold and 137 g/t silver)

• Mining ceased due to groundwater influx and L 208 War Act

• Low sulphidation epithermal veins

Nvisible gold in quartz



SEVEN TROUGHS PROPERTYHistoric Gold and Silver Production

1927 Historic Coalition Mine Long Section 1600, 1700 Levels

*Inches of ore$ value*

*@ $20.67/oz Au

Historic Mine Grades (1, 2)

Level Reported width (inches)

Historic $ Value

Oz/ton Au @ $20.67/oz

g/t Au @ $20.67/oz

1600 8 $ 1,306.40 63.20 2167

24 $ 649.60 31.43 1078

6 $ 681.60 32.98 1131

18 $ 961.60 46.52 1595

20 $ 1,484.80 71.83 2463

1700 6 $ 212.80 10.30 353

10 $ 127.20 6.15 211

16 $ 120.00 5.81 199

6 $ 590.40 28.56 979

14 $ 299.80 14.50 497

Historic Drilling for follow-up (1)

Target Area

DrillHole

From (feet)

Total(feet)

From (meters)

Total (meters)

Au(oz/ton)

Au(g/t)

Fairview ST-7 575 35 175.3 10.7 1.59 54.5

Badger PST-16 580 30 176.8 9.1 0.29 9.9

Hawkes H84-11 40 35 12.2 10.7 0.05 1.7

Signal S-8 40 135 12.2 41.1 0.03 1.0

Mazuma SR-7 1045 10 318.5 3.0 0.24 8.1

(1) Cautionary Statement: Historic drill and rock sample assay data have been compiled and reviewed including drill logs, laboratory assay certificates where available, and location maps with regard to their site location, and geology, and limited recent sampling. However, a Qualified Person has not done sufficient work to verify the historic information. Additional drilling and analysis will be required to verify the historical information or create a current mineral resource

(2) Historic data from Louis Friedman, VP of Seven Troughs Mining Company, accompanying letter dated February 25, 1926.

.



CAPITAL STRUCTURE

27

Capital Structure Common Shares

Common Shares Outstanding 112.1 M

Options (US$0.18 weighted average exercise price) 5.6 M

Warrants: (US$0.19 weighted average strike price) 75.6 M

Fully Diluted 193.3 M

Market and Financial Information (US$)

Market Capitalization $ 35.7 M

52-week Closing Price Range $ 0.02 - $ 0.40

Recent Price $ 0.32

3-Month Avg. Daily Volume 100 K

Share Ownership %

Directors and Management 28.4%

Retail Investors 51.2%

Crescat Capital 14.6%

Condire Resource 7.9%

THANK-YOUPATRICK HIGHSMITHPRESIDENT & CEO

P H O N E 2 0 8 . 6 6 4 . 4 8 5 9

EMAIL: highsmith@timberline–resources.com

WEBSITE: TIMBERLINE–RESOURCES.COM

gold exploration in nevada...2021/01/27 · pure play gold exploration growing from an existing...

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