Mr. Patrick Highsmith reports

TIMBERLINE ANNOUNCES UPSIZING OF NON-BROKERED PRIVATE PLACEMENT

Timberline Resources Corp. has increased the size of its previously announced non-brokered private placement of units of the company at a price of four U.S. cents per unit (approximately 5.4 cents, based on a currency exchange rate of 74.7 U.S. cents to $1 as of Dec. 18, 2023). The size of the offering has been increased to up to 18 million units for gross proceeds of up to $720,000 (U.S.). All other terms of the offering remain unchanged. The company anticipates the offering will close on or around Dec. 29, 2023. For more information concerning the offering, please refer to the news release of the company dated Dec. 19, 2023.

The units will be offered solely to persons or institutions who qualify as accredited investors under Rule 506(b) of Regulation D promulgated by the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended. The offering may be completed in one or more tranches and is subject to approval by the TSX Venture Exchange.

The securities to be issued pursuant to the offering will be subject to a statutory hold period in accordance with applicable securities legislation.

About Timberline Resources Corp.

The common stock of Timberline Resources trades on the OTCQB under the symbol TLRS and is listed on the TSX-V, where it trades under the symbol TBR. Timberline is a Nevada-focused exploration company targeting Carlin-type gold and carbonate-replacement-type silver-lead-zinc-gold deposits in the Eureka mining district.

We seek Safe Harbor.