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February 17, 2014
11:14 EDTTLRTimberline announces Hard Rock operating permit update
Timberline Resources announced that the Montana Department of Environmental Quality, MDEQ, has provided an updated schedule anticipated for completion of the Final Environmental Impact Statement for the Butte Highlands Joint Venture, BHJV, s proposed underground gold mine in the Highland Mountains south of Butte, Montana. The Final EIS is a critical remaining step toward receipt of a Final Hard Rock Operating Permit for the Project. The company also announced recently received assay results from drilling completed in preparation for advancement of mining to the proposed bulk sample area. The MDEQ has provided the company a revised estimate that completion of the Final EIS will be before the end of March. The agency currently continues evaluation and response to public comments provided following release of the Draft EIS in October, 2013. Two weeks after release of the Final EIS, the MDEQ will prepare a Record of Decision document after which the project bond can be issued. The Final HROP would be signed by the Director of the MDEQ immediately thereafter allowing commencement of production. Timberline also announced additional results from underground drill holes completed in 2013. Hole BHUG13-003 was drilled to confirm continuity of mineralization within the main zone in the proposed bulk sample area. The hole also intercepted the lower, footwall zone where assays confirm significant mineralization.
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October 5, 2015
18:10 EDTTLRWaterton proposes to acquire Timberline Resources for 58c per share
In a regulatory filing announcing its 9.9% stake in Timberline Resources, Waterton Precious Metals Fund II announced it has signed a letter agreement dated September 13, pursuant to which it has expressed interest in acquiring all of the issued and outstanding shares of Timberline's common stock for cash consideration of 58c per share. Timberline has granted Waterton Precious Metals Fund II an exclusivity period until 30 days following receipt of certain due diligence materials to complete its due diligence review and for the execution of definitive agreements, which may include lock-up agreements. The company has also granted Waterton deal protections including a break fee of 5% of the aggregate value of the transaction.
18:00 EDTTLRWaterton Precious Metals Fund II reports 9.9% stake in Timberline Resources
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