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Rio2 Virtual AGM Reminder – September 21, 2021

VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) — Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) wishes…

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VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) wishes to remind its shareholders that its forthcoming Annual General and Special Meeting of shareholders (the "Meeting") will be held on September 21, 2021 at 11 a.m. EST. This will be a completely virtual Meeting, to be conducted via live webcast where all shareholders, regardless of geographic location, will have an equal opportunity to participate online. Shareholders will not be able to attend the Meeting in person.

The timing and process for voting is described in detail in the Notice of Availability of Proxy Materials mailed to shareholders and meeting materials available on SEDAR at www.sedar.com and on the company’s website at www.rio2.com/investors.

VOTING DEADLINE

The voting deadline is 5:00 p.m. (EST) on Friday, September 17, 2021.

PARTICIPATION AT THE MEETING

Registered Shareholders and duly appointed proxyholders can participate in the Meeting in real time online at https://meetnow.global/MXQJDWN by clicking “Shareholder” and entering the 15-digit Control Number located on the form of proxy. Duly appointed proxyholders can participate in the meeting by entering an invitation code provided by Computershare before the start of the Meeting.

Voting at the Meeting will only be available for Registered Shareholders and duly appointed proxyholders. Non-Registered Shareholders who have not appointed themselves may attend the meeting by clicking “Guest” and completing the online form.

Rio2 recommends shareholders log into the webcast at least 10 minutes in advance of the virtual meeting start time to ensure connectivity.

Shareholders who have questions about voting their shares or attending the AGM may contact Investor Relations by telephone at (604) 260-2696 ext. 101, by toll-free telephone at 1 877 359-0906 or by email at info@rio2.com.

Your vote is important. Whether or not you plan to virtually attend the AGM, please vote as soon as possible by one of the methods described in the proxy materials for the AGM to ensure that your shares are represented and voted at the AGM.

ABOUT RIO2 LIMITED ABOUT RIO2 LIMITED

Rio2 is a mining company with a focus on development and mining operations with a team that has proven technical skills as well as a successful capital markets track record. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.

To learn more about Rio2 Limited, please visit: www.rio2.com or Rio2’s SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF RIO2 LIMITED

Alex Black
President, CEO & Director
Email: info@rio2.com
Tel: 1 (604) 260-2696

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts the responsibility for the adequacy or accuracy of this release.


Today’s News

Canagold Intersects 17.1 gpt Au Over 8.4 m in Hanging-Wall C10 Vein and 25.7 gpt Au Over 2.1 m in C West Main Vein at New Polaris, BC

Company to Host Webinar Today at 9:00 am PDT / 12:00 pm EDTVANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(FRA:CANA)…

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Company to Host Webinar Today at 9:00 am PDT / 12:00 pm EDT

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / Canagold Resources Ltd. (TSX:CCM)(OTCQB:CRCUF)(FRA:CANA) announces high-grade gold assays for four more drill holes from the ongoing 24,000 meter (m), 47-hole drill program at its 100% owned New Polaris Gold project in northwestern British Columbia, located 100 kilometers (km) south of Atlin and 60 km northeast of Juneau, Alaska.

The focus of the drill program is infill and step-out drilling in the C West Main ("CWM") vein system which hosts a major part of the gold resources at New Polaris. The intercepts reported below include results for two holes that also intercepted significant mineralization in a parallel vein ("C10") located in the hanging-wall of the CWM vein.

Highlights:

  • Hole 21-1890E1 intersected 17.1 gpt Au over 8.4 m from 343.0 m in the C10 Vein and 8.58 gpt Au over 2.1 m from 442.5 m in the CWM Vein
  • Hole 21-1890E2 intersected 7.25 gpt Au over 4.3 m from 368.0 m in the C10 Vein and 25.7 gpt Au over 2.1 m from 481.7 m in the CWM Vein
  • Hole 21-1859E1 intersected 4.84 gpt Au over 2.2 m from 393.3 m in the CWM Vein
  • Hole 21-1800E1 intersected 8.60 gpt Au over 2.5 m from 534.6 m in the CWM Vein

Scott Eldridge, CEO and Director, said, "Intercepting high-grade gold over robust widths in the C10 vein parallel to the CWM vein was an unexpected bonus. The C10 vein has returned high-grade gold results in the past, but we have not previously estimated any resources for it. With these new drill results and further drilling, there is an opportunity for the C10 vein to add additional resources at New Polaris.

"Additionally, we continue to intercept high-grade gold results in every infill drill hole intersecting the CWM vein. These drill results fall within the PEA mine plan and increase the density of drilling in the deposit so that we can upgrade inferred resources to indicated resources. We anticipate further assays from both the C10 and W West veins in the coming weeks."

The Company will host a webinar today at 9:00 am PDT / 12:00 pm EDT where management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link:

https://us02web.zoom.us/webinar/register/WN_VuzUgp0RQkuquTYTFaI6hQ

The infill drill holes continue to intercept good gold grades over mineable widths throughout the CWM vein system and they support the current resource at depth as predicted by the geological model. An additional vein, the C10 vein, has been intersected in the CWM hanging-wall about 90 to 100 meters above the CWM vein and has returned high grade gold over mineable widths in two of the holes (21-1890E1 and 21-1890E2) of the infill program so far (Cross Section). Three holes from previous drill campaigns by Canagold had also intersected this zone of mineralization:

  • 13.7 gpt Au over 3.8 m from 318.6 m in hole P95C42
  • 15.1 gpt Au over 2.5 m from 354.5 m in hole P95C43
  • 14.9 gpt Au over 1.6 m from 297.5 m in hole 06-1859E2

These previous drill intercepts were never incorporated into the geological model. More holes of the infill drill program are expected to intercept this parallel vein and an updated geological model incorporating all of these intercepts will be made at the end of the drill program.

Out of the planned 47-hole, 24,000 m program, 26 holes have now been completed, of which assay results have been received for 12 holes. All the samples collected from the mineralized zone in these holes have been submitted to the ALS Geochemistry lab in Whitehorse, YT for gold analysis. Detailed information for the two drill holes and the sample assay results and mineralized intercepts are provided in Table 1 and Table 2 below. The collar locations of the four holes in relation to other drill holes of the infill program are shown on the Drill Hole Location Map and the mineralized intercepts relative to previous drilling on the Long Section. Additional drill results are anticipated approximately every two weeks or so.

Infill Holes to Upgrade Inferred Resources to Indicated Resources

The program is designed primarily to in-fill drill the Inferred Resources of the CWM vein system within the currently defined resources in the PEA*. The infill drill holes range in depth from 300 to 650 m and are designed to provide greater density of drill intercepts (20 - 25 m spacing) in areas of Inferred Resources between 150 and 600 m below surface. The improved drill density will be used to upgrade parts of the Inferred Resources to Indicated Resources for inclusion in a future feasibility study.

*The New Polaris resource is contained within a preliminary economic assessment ("PEA") report which was prepared by Moose Mountain Technical Services in the format prescribed by NI43-101 Standards of Disclosure for Mineral Projects, and filed on Sedar April 18, 2019.

Exploration Holes to Test Down Plunge Potential and Expand Mineralized Zone

Two deeper exploration holes of approximately 1,000 m in length are being drilled to test between 200 to 250 m down plunge of the modeled extent to the gold mineralization. These will be the deepest holes drilled on the project to date and the results will serve to guide the design of future drill programs. Typically, mesothermal gold systems continue to depths far exceeding the current 600 m depth of the New Polaris Resources. Similar high grade mesothermal gold mineralization at Red Lake, Ontario for example has been mined to depths of more than 2,200 m.

New Polaris Overview

Canagold's flagship asset is the 100% owned New Polaris Gold Mine project located in northwestern British Columbia about 100 kilometers south of Atlin, BC and 60 kilometers northeast of Juneau, Alaska. The property consists of 61 contiguous Crown-granted mineral claims and one modified grid claim covering 850 hectares. New Polaris lies within the Taku River Tlingit First Nations traditional territory. Canagold is committed to providing employment and business opportunities that help support the local economies in the vicinity of its exploration projects.

The New Polaris gold deposit is an early Tertiary, mesothermal gold-bearing vein system occupying shear zones cross-cutting late Paleozoic andesitic volcanic rocks. It was mined by underground methods from 1938 to 1942, and again from 1946 to early 1951, producing approximately 245,000 oz gold from 740,000 tonnes of ore at an average grade of 10.3 gpt gold. Three main veins ("AB, C and Y") were mined to a maximum depth of 150 m and have been traced by drilling for up to 1,000 m along strike and up to 800 m down dip, still open for expansion. The gold occurs dominantly in finely disseminated arsenopyrite within quartz-carbonate stock-work veins and altered wall-rocks. Individual mineralized zones extend up to 250 meters in length and 14 meters in width. Average widths more commonly range from 2 to 5 meters.

Qualified Person

Garry Biles, P.Eng, President & COO for Canagold Resources Ltd, is the Qualified Person who reviewed and approved the contents of this news release.

Drill Core Sampling and Quality Assurance - Quality Control Program

Drill core is geologically logged to identify the gold mineralized zones that are allocated unique sample number tickets and marked for cutting using a purpose-built diamond blade rock saw. Half core samples are collected in labelled bags and the other half remains in the original core box stored on site. Quality control (QC) samples including certified reference material standards, blanks and duplicates are inserted into the sample sequence at intervals of one in ten on a rotating basis to monitor laboratory performance and provide quality assurance (QA) of the assay results. Several sample bags are transported together in rice bags with unique numbered security tags attached and labelled with Company and lab contact information to ensure sample security and chain of custody during shipment to the lab.

The samples are submitted to the ALS Geochemistry lab in Whitehorse, YT for preparation and assaying. The entire sample is crushed to 70% passing -2 millimeters and a 250 gram aliquot is split and pulverized to 85% passing -75 microns. Analysis for gold is by 30 gram fire assay and gravimetric finish. A suite of 30 other elements including arsenic, antimony, sulfur and iron are analyzed by aqua-regia digestion Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES). ALS Canada Ltd. is accredited by the Standards Council of Canada and is an ISO/IEC 9001:2015 and 17025:2017 certified analytical laboratory in North America.

"Scott Eldridge"

Scott Eldridge, Chief Executive Officer 
CANAGOLD RESOURCES LTD.

About Canagold - Canagold Resources Ltd. is a growth-oriented gold exploration company focused on generating superior shareholder returns by discovering, exploring and developing strategic gold deposits in North America. Canagold shares trade on the TSX: CCM and the OTCQB: CRCUF.

For More Information - Please contact:

Knox Henderson, VP Corporate Development
Toll Free: 1-877-684-9700 Tel: (604) 604-416-0337 Cell: (604) 551-2360
Email: knox@canagoldresources.com 
Website: www.canagoldresources.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements contained in this news release that are not historical facts are forward-looking information that involves known and unknown risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements with respect to the future performance of Canagold, and the Company's plans and exploration programs for its mineral properties, including the timing of such plans and programs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "has proven", "expects" or "does not expect", "is expected", "potential", "appears", "budget", "scheduled", "estimates", "forecasts", "at least", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others risks related to the uncertainties inherent in the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company's ability to continue as a going concern; the Company's ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.

Table 1: Drill Hole Collar Information

Hole ID

Mine East

Mine North

Elevation

Dip

Azimuth

Final Depth

21-1800E1

1802.0m

518.5m

19.4m

-74°

346°

560m

21-1859E1

1859.9m

637.7m

19.6m

-72°

355°

425m

21-1890E1

1882.3m

590.3m

19.7m

-69°

348°

491m

21-1890E2

1881.4m

585.2m

19.7m

-78°

350°

500m

Table 2: Drill Core Sample Results Details

Hole ID

From (m)

To (m)

Length (m)

[True Width]

Au (gpt)

21-1800E1

534.6

535.6

1.0

8.07

21-1800E1

535.6

537.1

1.5

8.97

21-1800E1

534.6

537.1

2.5 [2.0]

8.60

21-1859E1

393.3

393.7

0.4

18.1

21-1859E1

393.7

394.7

1.0

0.025

21-1859E1

394.7

395.5

0.8

4.21

21-1859E1

393.3

395.5

2.2 [1.7]

4.84

21-1890E1

343.0

344.0

1.0

13.3

21-1890E1

344.0

345.0

1.0

26.4

21-1890E1

345.0

345.8

0.8

6.60

21-1890E1

345.8

347.0

1.2

15.0

21-1890E1

347.0

348.0

1.0

23.9

21-1890E1

348.0

349.2

1.2

30.4

21-1890E1

349.2

350.3

1.1

13.1

21-1890E1

350.3

351.4

1.1

6.06

21-1890E1

343.0

351.4

8.4 [6.8]

17.1

21-1890E1

442.5

443.5

1

9.77

21-1890E1

443.5

444.6

1.1

7.50

21-1890E1

442.5

444.6

2.1 [1.7]

8.58

21-1890E2

368.0

368.8

0.8

7.18

21-1890E2

368.8

370.5

1.7

0.025

21-1890E2

370.5

371.3

0.8

12.9

21-1890E2

371.3

372.3

1.0

15.4

21-1890E2

368.0

372.3

4.3 [3.4]

7.25

21-1890E2

481.7

483.0

1.3

30.5

21-1890E2

483.0

483.8

0.8

18.0

21-1890E2

481.7

483.8

2.1 [1.7]

25.7

Composites were calculated from length weighted Au sample interval results. Grade capping and cut-off have not been applied.

SOURCE: Canagold Resources Ltd.



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Today’s News

Dynacor Increases Sales and Earnings Guidance by Approximately 25% and 35% Respectively

MONTREAL, Sept. 22, 2021 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation…

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MONTREAL, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced an increase to its 2021 sales, earnings and production guidance.

2021 Sales and Earnings Guidance Update:

  • Total sales of US$185 to $190 million, a 23 to 27% increase from previously announced sales guidance of US$150 million;
  • Net income of US$9.0 to $9.5 million (US$0.23 to $0.25 EPS) (C$0.29 to $0.31 EPS), a 30 to 38% increase from previously announced earnings guidance of US$6.9 million.

Dynacor's new sales guidance of US$185 to $190 million for 2021 would represent an 82 to 87% year-over-year increase. In addition, management is forecasting for the first time in the Corporation’s history to produce over 100,000 gold equivalent ounces in 2021.

  1. Assumes 2021 average CA/US exchange rate of 1.25:1;
  2. An average gold price of $US 1785 per ounce;
  3. A consistent average grade in the ore received;
  4. A stable currency exchange rate between Sol/US$/C$.

ABOUT DYNACOR

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.

The corporation intends to expand its processing operations in other jurisdictions as well.

Dynacor produces environmental and socially responsible gold through its PX IMPACT® gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale miner’s communities.

Dynacor is listed on the Toronto Stock Exchange (DNG).

FORWARD-LOOKING INFORMATION

Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.

Shares Outstanding: 38,939,517

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold 

PDF available: http://ml.globenewswire.com/Resource/Download/a09e3211-1240-466d-9e9d-eb7b02e295d6 

CONTACT: CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230
E: investors@dynacor.com

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Today’s News

Timberline Identifies Major New IP Anomalies at the Windfall Target, Eureka Project, Nevada

COEUR D’ALENE, ID / ACCESSWIRE / September 22, 2021 / Timberline Resources Corporation (OTCQB:TLRS)(TSXV:TBR) ("Timberline" or the "Company") released…

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COEUR D'ALENE, ID / ACCESSWIRE / September 22, 2021 / Timberline Resources Corporation (OTCQB:TLRS)(TSXV:TBR) ("Timberline" or the "Company") released results of an Induced Polarization/Resistivity (IP) survey at its 100%-controlled Eureka Gold Project in Nevada. The 2021 IP survey focused on the Windfall Trend in the northeast part of the property (Figure 1). The data have identified two major structural zones that appear to control strong chargeability anomalies that could be linked to the extensive gold and polymetallic systems in this part of the project.

Between 1975 and the early 1980s, the Windfall Mine produced approximately 112,000 oz of gold from oxidized ore from three open pits along a 2.5-kilometre (km) trend on claims owned by Timberline. Previous drilling and rock sampling by Timberline and other operators has encountered significant gold mineralization in and around the historic pits (see Company news releases dated August 8, 2018 and April 20, 2015). Zonge Geosciences, Inc. surveyed six lines of dipole-dipole IP totaling 25.2 line-km along the Windfall Trend. The 2021 IP survey complemented the 2020 IP survey, which focused on the Lookout Mountain Trend but included one line through the middle of the Windfall Trend.

The resistivity and chargeability data derived from the IP survey paint a clear picture of two parallel fault zones oriented generally north-south. These structures correspond well with existing geological mapping in the area, but the extent of the chargeable zones as well as a new target corridor to the west of historic mining are new information (Figure 2). IP chargeability anomalies are suggestive of the presence of sulfide minerals and/or organic carbon, both of which are commonly associated with Carlin-type gold deposits.

Dr. Steven Osterberg, Timberline's Vice President Exploration, remarked on the 2021 geophysical program, "We are very appreciative of the quality work by Zonge Geosciences and consulting geophysicist Jim Wright on our 2021 IP survey at Windfall. These IP anomalies at the Lookout Trend and the Windfall Trend are very large cohesive targets. They occur in similar settings, both occupying large-scale structural troughs and having significant mineralization flanking the chargeability highs on both the east and west. These large-scale geophysical anomalies may indicate significant sulfide mineralization associated with these large structures, demonstrating potential drivers or roots to the gold systems of which we are already aware. All of these targets reinforce our view of the huge potential of the Eureka Project, and we look forward to the remainder of our 2021 drill program, which is set to recommence in October."

Interpretation of Geophysical Results

Resistivity data at Windfall reveals consistent patterns that facilitate mapping of rock types, dip attitudes, and structures. The major structures in this area are termed the Windfall Structural Zone (WSZ) and the Windfall East Structural Zone (WEZ), and they are continuous for at least 2.5km along strike. The WSZ is interpreted as dipping steeply to the east and it correlates well with the historic gold mining trend. It separates steeply east-dipping sedimentary units to the west, from moderately east-dipping rocks to the east (Figure 3). Dolomite of the Hamburg Dolomite (Ch) and Eldorado Dolomite (Ce) formations is among the most resistive rocks in the district, and the Prospect Mountain (Cpm) and Eureka Quartzite (Oe) are also highly resistive. This is opposed to the Dunderberg Shale (Cd) and other thinly bedded units, which show up as less resistive.

The WEZ correlates well with the previously mapped Hoosac Fault, which generally has a westward dip, but the WEZ is also sometimes associated with a near-flat lying thrust or detachment structure in the northern part of the district. A number of significant historic gold, silver, and base metal occurrences are aligned with the WEZ and the Hoosac Fault system.

A strong chargeability anomaly occurs parallel to and between the WSZ and the WEZ in an apparent structural trough. The chargeability feature is best developed in the southern part of the survey area, but it has continuity to the north, though tending to narrow on the more northerly lines (Figure 4). This central anomaly is up to 300 metres (m) wide and extends to within 100m of the surface locally within its +3km footprint. A second chargeability anomaly occurs immediately east of the WEZ where Timberline geologists have noted significant hydrothermal alteration in numerous historic prospects. These chargeability anomalies are of a character that is suggestive of unoxidized sulfide minerals at depth.

Another strong chargeability anomaly occurs in the northwest corner of the survey area where little modern exploration has been conducted (Figure 5). The magnitude of the anomaly is very strong and measures up to 400m wide. This chargeable feature is apparently hosted by the Eldorado Dolomite and is interpreted to lie within 230m of the surface. There is another weaker chargeability anomaly in this northwestern area to the west of the WSZ. This anomaly trends to the northeast and can be traced for more than 2km (Figure 2). It is also apparently associated with the Eldorado Dolomite, but it may be linked to an unrecognized fault or fold structure.

The Eldorado Dolomite was the primary host of the silver-gold-lead-zinc mineralization that prompted the mining boom in Eureka in the late 19th century. Timberline geologists have just begun reconnaissance mapping and sampling in the northwest part of the survey area, where the Eldorado occurs at surface and dips east towards the Windfall Trend.

Conclusions and Follow-up Exploration Plans

The new geophysical data has been integrated into Timberline's 3D geological model, where it can be assessed relative to geologic and drill hole databases. The chargeability features correlate from section to section, indicating that the Windfall Trend is underlain by an interpreted hydrothermal system at least 3km long and 1.75km wide, striking almost north-south. As shown in these figures, the primary chargeable features are aligned in a structural trough that is bounded by faults, but the anomalies are also heavily influenced by other faults and the dip of host rocks. The fault zones bounding the trough at Windfall are associated with historic gold production, small-scale polymetallic mining and prospects, and widespread hydrothermal alteration. The large volume of chargeable rock associated with such a highly mineralized trend may be an indication of sulfides (or potentially organic carbon) that form the heart or roots of the Windfall Trend.

The Timberline database includes several hundred drill holes in and around the footprint of the historic gold mines, and there are numerous targets based on historic gold intercepts that have not been followed-up. Since many of these targets lie on patented claims owned by Timberline, the team expects to bring a drill to the Windfall Trend for the first time in several years.

A careful review of Timberline's significant historic drill hole database indicates that the central IP anomaly between the WSZ and the WEZ is very likely not tested by previous drilling. The Timberline team is currently finalizing the remainder of the 2021 drill program. While the Water Well Zone, adjacent to the Lookout Mountain Resource, will be the priority, the significant geophysical anomalies at the Windfall Trend make compelling targets. One reverse circulation and one diamond core drill rig are expected to return to the Eureka Project during October, and the Company intends to drill the balance of its program during the fourth quarter.

Qualified Person

Steven Osterberg, PhD, P.G., Timberline's Vice President of Exploration, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information contained in this news release.

Corporate Update

The Company is also pleased to report that it has selected a new transfer agent for the maintenance of its share capital treasury and related business. Pursuant to notice given to its current transfer agent, Equiniti, Timberline will engage on or about October 21, 2021 with Nevada Agency and Transfer Company as its primary transfer agent. TSX Trust Company remains the Company's co-transfer agent in Canada.

About Timberline Resources

Timberline Resources Corporation is focused on delivering high-grade Carlin-Type gold discoveries at its district-scale Eureka Project in Nevada. The Eureka Property includes the historic Lookout Mountain and Windfall mines in a total property position of approximately 24 square miles (62 square kilometers). The Lookout Mountain Resource was reported in compliance with Canadian NI 43-101 in an Updated Technical Report on the Lookout Mountain Project by Mine Development Associates, Effective March 1, 2013, filed on SEDAR April 12, 2013.

Resource Category

Tonnage

(million short tons)

Grade

(oz/ton)

Grade

(grams/tonne)

Contained Au

(troy oz)

Measured

3.04

0.035

1.2

106,000

Indicated

25.90

0.016

0.6

402,000

Inferred

11.71

0.012

0.41

141,000

The Company is also operator of the Paiute Joint Venture Project with Nevada Gold Mines in the Battle Mountain District. These properties all lie on the prolific Battle Mountain-Eureka gold trend. Timberline also controls the Seven Troughs Project in northern Nevada, which is one of the state's highest-grade former gold producers. Timberline controls over 43 square miles (111 square kilometers) of mineral rights in Nevada. Detailed maps and mineral resources estimates for the Eureka Project and NI 43-101 technical reports for its projects may be viewed at http://timberlineresources.co/.

Timberline is listed on the OTCQB where it trades under the symbol "TLRS" and on the TSX Venture Exchange where it trades under the symbol "TBR".

On behalf of the Board of Directors,

"Patrick Highsmith"

President and CEO
Tel: 208-664-4859

Forward-looking Statements: Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These include, but are not limited to, statements regarding the advancement of projects, the commencement and extent of drilling, and exploration potential. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend", "growth opportunity" and "expect" and similar expressions, as they relate to Timberline Resources Corporation, its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to risks involving forward-looking statements include, but are not limited to contractor availability, weather, equipment failure and other changes in the Company's business and other factors, including risk factors discussed in the Company's Form 10-K for the year ended September 30, 2020. Except as required by law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Cautionary Note to U.S. Investors: The terms "mineral resource," "measured mineral resource," "indicated mineral resource" and "inferred mineral resource," as used on Timberline's website and in its news releases are Canadian mining terms that are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms are not defined terms under United States Securities and Exchange Commission ("SEC") Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC by U.S. registered companies. The SEC permits U.S. companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Accordingly, note that information describing the Company's "mineral resources" is not directly comparable to information made public by U.S. companies subject to reporting requirements under U.S. securities laws. U.S. investors are urged to consider closely the disclosure in the Company's Form 10-K which may be secured from the Company, or online at http://www.sec.gov/edgar.shtml.

SOURCE: Timberline Resources Corp.



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