Mr. Kiran Patankar reports

TIMBERLINE CLOSES TRANSACTION TO ACQUIRE TALAPOOSA PROJECT OPTION AND FILES TECHNICAL REPORT

Timberline Resources Corp. has closed its transaction with Gunpoint Exploration Ltd., pursuant to which Timberline has acquired the option to purchase 100 per cent of Gunpoint's Talapoosa project with a resource of over one million ounces of gold, located in western Nevada. The acquisition terms were disclosed in the press release announcing the transaction dated March 17, 2015.

In addition, Timberline has today filed on SEDAR an independent National Instrument 43-101 technical report entitled "Technical Report and Resource Estimate on the Talapoosa Project, Nevada," substantiating the mineral resource estimate announced in the March 17, 2015, press release. The Talapoosa resource consists of 1,012,802 ounces of gold and 13,649,358 ounces of silver in the measured and indicated resources categories, with an additional 233,532 ounces of gold and 2,172,766 ounces of silver in the inferred resource category, as detailed in the table.

                        TALAPOOSA RESOURCE ESTIMATE

                                                  Au          Ag            
                                    Tons       (oz/t)      (oz/t)     Tonnes

Oxide measured                 3,126,050       0.038       0.553   2,835,890
Sulphide measured             14,044,820       0.036       0.481  12,741,180
Total measured                17,170,870       0.036       0.494  15,577,070
Oxide indicated                1,412,000       0.032       0.416   1,280,900
Sulphide indicated            12,681,600       0.028       0.361  11,504,500
Total indicated               14,093,600       0.028       0.366  12,785,400
Total M&I                     31,264,470       0.032       0.437  28,362,470
Oxide inferred                 1,762,000       0.027       0.065   1,598,000
Sulphide inferred              9,436,000       0.020       0.218   8,560,000
Total inferred                11,198,000       0.021       0.194  10,158,000

                                      Au          Ag          Au          Ag
                                    (g/t)       (g/t)        (oz)        (oz)

Oxide measured                      1.29       18.96     117,253   1,728,323
Sulphide measured                   1.22       16.50     501,215   6,760,763
Total measured                      1.23       16.95     618,468   8,489,086
Oxide indicated                     1.10       14.25      45,328     586,999
Sulphide indicated                  0.94       12.36     349,005   4,573,274
Total indicated                     0.96       12.55     394,334   5,160,273
Total M&I                           1.11       14.97   1,012,802  13,649,358
Oxide inferred                      0.93        2.24      47,745     115,115
Sulphide inferred                   0.68        7.48     185,787   2,057,651
Total inferred                      0.72        6.65     233,532   2,172,766

Resources are estimated using a gold cut-off of 0.013 ounce/ton (0.45 gram 
per tonne).    

The resource estimates in the table are included in the technical report prepared by WSP Canada Inc. (Sudbury, Ont.) with contributions from McClelland Laboratories Inc. (Reno, Nev.) and has an effective date of March 24, 2015 (see cautionary note to United States investors regarding estimates of mineral resources).

The technical report was prepared and filed in satisfaction of an undertaking made to the TSX Venture Exchange in connection with Timberline's acquisition of the option to purchase 100 per cent of Talapoosa.

Timberline has also commenced a preliminary economic assessment on the Talapoosa resource, which the company expects to complete in second quarter 2015 by capitalizing on extensive historic engineering and permitting work.

Dr. Steven Osterberg, PhD, PG, Timberline's vice-president of exploration, is a qualified person as defined by National Instrument 43-101, and has reviewed and approved disclosure of the technical contents of this news release.

We seek Safe Harbor.