New Gold-Silver Target Discovered At The Eureka Project

COEUR D'ALENE, ID - Timberline Resources Corporation has identified a new high-grade gold and silver target in the New York Canyon claim block of its Eureka Project in Nevada. Recent mapping and sampling in the historical mining area have identified a new drill target with outcropping high-grade gold and silver mineralization. The Company's follow-up exploration will prioritize a cluster of high-grade rock chip samples around the historical Eureka, Eureka Giant, and Seventy-Six Mines, where results included high gold values of 55, 32, 23.3, 22.5, and 14.95 g/t, along with numerous other samples in the 0.5 to 5.0 g/t range, and high silver values of 750*, 582.5, 558, 555, and 299 g/t, along with many other samples exceeding 50 g/t silver.

The New York Canyon target area is in the heart of the historical Eureka mining district, which was noted for its carbonate-replacement deposits (CRD) of silver, lead, and zinc before large-scale gold mineralization was known in the area. I80 Gold Corp. is actively drilling high-grade CRD-type silver-rich mineralization at the nearby Ruby Hill Mine (approximately 3km northwest), and Paycore Minerals has recently reported deep intercepts of silver and gold-rich CRD mineralization at the Fad Shaft (approximately 2km west-northwest).

Patrick Highsmith, CEO, said, "The patented mining claims in New York Canyon were among the very first claims staked in the Eureka District in the 1860s. The outcropping high-grade silver and gold target has been unavailable for modern exploration due to the fragmented claim ownership. Now that we have consolidated and control these claims, we plan to drill these targets. Our recent sampling confirms historical data in the area reflecting high-grade CRD-type silver-lead-zinc mineralization and overprinting Carlin-type gold hosted in the Hanson Creek formation. The alteration is intense along large northwest trending faults, and significant potential exists for larger volumes of mineralization in the underlying Ordovician rocks that are important hosts to mineralization at the Ruby Hill Mine."