Dr. Steven Osterberg reports

TIMBERLINE RESOURCES ANNOUNCES PRIVATE PLACEMENT OFFERING

Timberline Resources Corp. has started a non-brokered $500,000 (U.S.) private placement offering of units of the company at a price of eight U.S. cents per unit, with an option to increase the offering by up to 20 per cent, solely to persons who qualify as accredited investors under Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act of 1933, as amended.

Each unit consists of one share of common stock of the company and one common share purchase warrant, with each warrant exercisable to acquire an additional share of common stock of the company at a price of 14 U.S. cents per share until the warrant expiration date of Oct. 29, 2021.

The company intends to use the net proceeds of the offering for working capital, and costs associated with exploration expenses.

Subject to review by the TSX Venture Exchange, cash finders' fees may be payable with respect to subscriptions accepted by the company, and consulting fees may be payable by the company in relation to this transaction to support in marketing this offering of units. It is anticipated that certain insiders may participate in the offering.

About Timberline Resources Corp.

Timberline Resources is focused on advancing district-scale gold exploration and development projects in Nevada. These include its 23-square-mile Eureka property, comprising the Lookout Mountain, Windfall and Oswego projects, which lie along three separate structural stratigraphic trends defined by distinct geochemical gold anomalies, as well as being operator of both the Paiute joint venture project with a subsidiary of Barrick Gold, and the Elder Creek joint venture with McEwen Mining. All of these properties lie on the prolific Battle Mountain-Eureka gold trend.

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

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