Timberline Updates Status of Funding Agreement
06 Febrero 2014 - 6:00AM
Marketwired
Timberline Updates Status of Funding Agreement
COEUR D'ALENE, IDAHO--(Marketwired - Feb 6, 2014) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") announced today that it has not received any
funds from RockStar Resources ("RockStar") pursuant to the
Exclusivity Fee specified in the No-Shop/Exclusivity clause of the
Confidentiality Agreement entered into by the Company and RockStar
in December 2013.
As previously announced on December 5, 2013, RockStar had agreed
to purchase a total of US$750,000 of Timberline's common stock for
US$0.20 per share in three equal monthly tranches beginning on
December 31, 2013. Although RockStar continues to seek financing,
it has not fulfilled its funding commitments for December 31, 2013
and January 31, 2014. Timberline and RockStar are continuing
discussions and reviewing multiple options for a potential
transaction as contemplated in their original confidentiality
agreement and alternative sources of financing.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline holds a 50-percent carried interest ownership stake in
the Butte Highlands Joint Venture in Montana. Timberline's
exploration is primarily focused on the major gold districts of
Nevada, where it is advancing its flagship Lookout Mountain Project
toward a production decision while exploring a pipeline of quality
earlier-stage projects at its South Eureka Property and elsewhere.
Timberline's leadership has a proven track record of discovering
economic mineral deposits that are developed into profitable
mines.
Timberline is listed on the NYSEMKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding potential future transactions with RockStar and potential
alternative future financing sources. When used herein, the words
"anticipate," "believe," "estimate," "upcoming," "plan," "target",
"intend" and "expect" and similar expressions, as they relate to
Timberline Resources Corporation, its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, risks related to the Company and RockStar not being
able to reach agreement on a mutually beneficial transaction, risks
related to the Company not being able to obtain alternative
financing, risks related to RockStar not being able to fund the
exclusivity fee, risks related to potential future transactions,
risks related to the Company continuing as a going concern, and
other such factors, including risk factors discussed in the
Company's Annual Report on Form 10-K for the year ended September
30, 2013. Except as required by Federal Securities law, the Company
does not undertake any obligation to release publicly any revisions
to any forward-looking statements.
Timberline Resources CorporationPaul DircksenCEO208.664.4859
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