Timberline Resources Corporation (OTCMKTS:TLRS) Files An 8-K Termination of a Material Definitive Agreement

Timberline Resources Corporation (OTCMKTS:TLRS) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement

 

On May 23, 2018, Timberline Resources Corp. (the “Company”) entered into a purchase and sale agreement with Americas Gold Exploration, Inc. (“AGEI”) dated May 23, 2018 (the “Agreement”) to which the Company acquired ownership interests in two Nevada gold-copper mineral properties located in the Battle Mountain mining district (the “Properties”) as more fully described in the Company’s Current Report on Form 8-K filed with the Commission on May 30, 2018.  One of these acquisitions included the right to earn ownership in the McEwen Mining Inc. (“McEwen”) Elder Creek Project.  The agreement included, among other expenditure requirements that on June 30 of each year all Bureau of Land Management (“BLM”) unpatented claim fees and county fees would be paid to McEwen.

 

On June 30, 2020, the Company did not make the required payment of the BLM and county fees to McEwen.  As a result, to the terms of the Agreement, the Agreement terminated at 11:59pm Coeur d’Alene time on July 9, 2020.  As a result of the termination of the Agreement, operations of Elder Creek reverted back to McEwen and the Company retains no interest in Elder Creek.

 

SECTION 7 – REGULATION FD

 

Item 7.01 Regulation FD Disclosure.

 

On July 14, 2020, the Company issued a press release entitled “Timberline Drops Elder Creek Option to Focus on Gold Exploration”. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

 

In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release attached hereto is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended. The information set forth in Item 7.01 of this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

Exhibit No.Description 

99.1Press Release of Timberline Resources Corporation dated July 14, 2020* 

*The foregoing exhibit relating to Item 7.01 is intended to be furnished to, not filed with, the SEC to Regulation FD.

to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT INDEX

Exhibit No.Description 

99.1Press Release of Timberline Resources Corporation dated July 14, 2020.* 

* Furnished to, not filed with, the SEC
Timberline Resources Corp Exhibit
EX-99 2 ex99.htm NEWS RELEASE Timberline Resources EXHIBIT 99.1   FOR IMMEDIATE RELEASE   Timberline Drops Elder Creek Option to Focus on Gold Exploration   Coeur d’Alene,…
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About Timberline Resources Corporation (OTCMKTS:TLRS)

Timberline Resources Corporation is an exploration-stage company. The Company is engaged in mineral exploration business. The Company holds interests in mineral prospects for exploration in Nevada and Montana mainly for target commodities of gold and silver. The Company’s property, Eureka (Battle Mountain/Eureka Trend), has an area of approximately 16,000 acres. The Eureka property is located in the southern part of the Eureka mining district of Eureka County, Nevada. Its ICBM Joint Venture Project (Timberline/Barrick) is located in the Battle Mountain Mining District, Lander County, Nevada. Seven Troughs is an epithermal gold district. The Company’s properties comprise approximately five epithermal gold targets, of which over four are in western and northern Nevada and approximately one is in northeast California; over three Carlin-type gold prospects within the Battle Mountain-Eureka and Carlin gold trends in Nevada; and approximately one gold-bearing skarn in central Nevada.

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