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Timberline Resources Reports New JV Partner at Butte Highlands Gold Mine

Timberline Resources Corporation (NYSE: TLR) announced today that its joint venture partner, Highland Mining, LLC ("Highland") has sold its 50-percent interest in Butte Highlands JV, LLC ("BHJV") to Montana State Gold Company, LLC ("MSGC"), a privately-owned Montana limited liability company. Highland will continue to be Timberline's 50-percent joint venture partner at its Butte Highlands Gold Project, with MSGC funding development of the underground gold mine up to the commencement of commercial production. As a result of this sale, Timberline's previously-announced non-binding letter of intent to acquire Highland's interest in BHJV has terminated.

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