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or Name
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Timberline Resources Corp
Symbol TBR
Shares Issued 75,164,082
Close 2014-08-06 C$ 0.135
Market Cap C$ 10,147,151
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Timberline Resources loses $656,000 (U.S.) in Q3 2014

2014-08-07 05:49 ET - News Release

Mr. Paul Dircksen reports

TIMBERLINE ANNOUNCES THIRD QUARTER 2014 FINANCIAL RESULTS

Timberline Resources Corp. has released consolidated financial results for its third fiscal quarter ended June 30, 2014. All currency amounts are in U.S. dollars, unless otherwise indicated.

                    SUMMARY OF SELECTED FINANCIAL RESULTS 
       (in thousands of U.S. dollars, except earnings per share)

                                                             Quarter ended
                                                                June 30,
                                                             2014      2013

Consolidated net (loss)                                  $   (656) $   (594)
                                                         ========= =========
Consolidated net (loss) per share, basic and diluted     $  (0.01) $  (0.01)
Mineral exploration expenses                             $    158  $    333

Timberline reported a consolidated net loss of $656,000 for the quarter ended June 30, 2014, including exploration expenditures of $158,000. The company's working capital at June 30, 2014, was negative due to the short-term note payable in the amount of $1-million from Wolfpack Gold that is expected to be cancelled upon completion of the acquisition of Wolfpack Gold (Nevada) Inc. The company's exploration expenditures during the quarter were primarily related to metallurgical testing and analysis at the Lookout Mountain project on the company's South Eureka property in Nevada and geologic mapping and analysis at other Nevada properties. Results are expected to support future permit applications, drill targets and a preliminary economic analysis for low-cost, heap-leach processing. Professional fees were significantly higher in the quarter ended June 30, 2014, due to increased legal activity related to the Wolfpack transaction.

Timberline's president and chief executive officer, Paul Dircksen, said: "Our focus this quarter was primarily on geologic evaluations and the advancement of our acquisition of Wolfpack U.S. We are pleased with the progress we have made and the opportunities we see for the development of our assets in Nevada. The completion of the acquisition of Wolfpack, which is expected shortly, provides funding to allow us to advance more quickly at Lookout Mountain and other priority projects."

We seek Safe Harbor.

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