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January 29, 2014
08:40 EDTTLRTimberline reports permitting progress at Butte Highlands Gold Project
Timberline Resources announced that ongoing permitting activities at its Butte Highlands Gold Project have yielded positive results and provide encouragement that final permits may soon be granted. The company has received a letter constituting the approval of the Butte-Silver Bow Public Works Department for the construction of certain improvements on roads to be used for haulage of mineralized material from its Butte Highlands Project, an underground gold mine being developed just south of Butte, Montana. The improvements receiving the county's approval include the replacement of a bridge and a culvert, reconstruction of an intersection, and the erection of traffic control signage. The bridge replacement project consists of the installation of new, concrete bridge abutments and the placement of a new pre-stressed concrete bridge deck.
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April 17, 2014
08:09 EDTTLRTimberline Resources amends agreement to acquire Wolfpack Gold assets
Timberline Resources has restructured its proposed acquisition of Wolfpack Gold and has executed an Amended Letter of Intent reflecting the revised terms. Timberline intends to acquire all of the outstanding shares of a Wolfpack subsidiary which will hold all of Wolfpack's current assets other than its uranium holdings in exchange for shares of common stock in the capital of Timberline at a ratio equal to 0.75 shares of Timberline for each outstanding share of Wolfpack. Under the amended terms of the LOI, Timberline will retain ownership of its 50% carried-to-production interest in the Butte Highlands Gold Project in Montana. As a result of the acquisition, Timberline will acquire a number of gold projects in Nevada and approximately $4.7M in cash, inclusive of the loan. Timberline and Wolfpack have agreed to extend the exclusivity period until May 5. Additionally, the LOI requires a break fee in the amount of $500K be paid by a party electing to terminate the definitive agreement to accept a third party superior proposal. Under the terms of the LOI, Wolfpack has agreed to provide Timberline with a bridge loan of up to $1M to fund the working capital needs of Timberline during the interim period prior to the completion of the proposed transaction.

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