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Timberline
Resources Corporation
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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