Timberline Resources Corporation reported results from two more core holes from the 2021 drilling program at its 100%-controlled Eureka Project in Nevada. These are the final outstanding assays from the drill program, and they include one core hole in the Water Well Zone (WWZ) and the completed silver and multielement data from core hole BHSE-206C totaling 861 meters of drilling. The results from BHSE-192C confirm a significant zone of strong gold grades in the WWZ between drill holes BHSE-220C and BHSE-212C, which were reported during the first quarter.

Highlights of the mineralization in BHSE-192C include: 24.4m at 3.85 grams per tonne (g/t) gold from 349.6 depth, including. o 4.6m at 8.35 g/t gold from 354.2m depth; and including, 7.6m at 5.72 g/t gold from 364.8m depth. The Company also received the complete analyses for silver (Ag) and other elements in drill hole BHSE-206C, from which the gold and partial multielement data were reported in a news release dated March 24, 2022.

As previously reported, this hole included multiple intervals of anomalous gold, including 7.6m averaging 1.04 g/t and 86.9m of 0.16 g/t. However, the new analyses reveal that the drill hole is more mineralized in silver, lead (Pb), and zinc (Zn) than previously thought. One significant interval hosted by altered dolomite, breccias, and intrusive dikes included more than 202.7m that averaged 5.28 g/t Ag, including 56.4m averaging 9.69 g/t Ag, 0.17% Zn, and 0.11% Pb. This style of Ag-rich mineralization is believed by Timberline geologists to be older than the Carlin-type gold system, likely associated with Cretaceous-aged carbonate-replacement type deposits.