Timberline Resources Corporation announced a non-brokered private placement of 20,000,000 units at a price of $0.05 per unit for the gross proceeds of $1 million on August 17, 2023. Each unit will consist of one share of common stock of the company and one-half of one common share purchase warrant, with each whole warrant exercisable to acquire an additional share of common stock of the company at a price of $0.08 per share. The transaction will include participation from returning investor, Crescat Capital LLC.

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