Timberline Resources Corporation announced results for the final five holes of the 2020 reverse circulation (RC) drill program at its 100%-controlled Eureka Project in Nevada. The results include considerable near-surface oxide gold mineralization and two high-grade intercepts above 4.0 grams of gold per tonne (g/t). The primary objectives of the 12-hole, 2,438m (8,000 ft) RC drill program were to infill and expand the current mineral resource and test for deeper sulfide mineralization to the east in the graben structure. Drilling Highlights: Hole BHSE-187, a step-out hole drilled approximately 75m northeast of the existing resource, encountered 7.62m of 4.49 g/t, within an interval of 25.91m at 2.18 g/t gold; Hole BHSE-184 intercepted 18.29m at 0.93 g/t gold from 3.0m below surface; Hole BHSE-186 intercepted 6.10m of near-surface, high-grade gold (5.21 g/t) and 25.91m at 0.77 g/t gold from 47.24m downhole, both intervals being oxidized material. Three of these holes are within the resource and collared inside the historic Lookout Mountain Pit, while two of the holes are step-outs to the east and northeast. One of the step-outs, hole BHSE-183, was lost in bad ground before reaching target depth and has been twinned with core hole BHSE-188C (results pending). Geological and Drilling Details: All of these holes encountered mineralization hosted in the Dunderberg Shale, commonly near its basal contact with the Hamburg Dolomite, which is heavily disrupted by faulting and brecciation. These rocks are part of the Cambrian-aged section, which hosts mineralization both at the Lookout Mountain Deposit and at the historic Windfall Mine, several kilometers to the northeast within the Eureka Project. Timberline geologists noted extensive alteration in the RC cuttings, including intense decalcification with variable amounts of silicification. The deeper sulfide mineralization reported in drill hole BHSE-187 occurs in downfaulted Dunderberg Shale that is carbonaceous and sulfidic, with orpiment (arsenic sulfide mineral). This higher-grade intercept is a significant step-out of approximately 75 meters to the northeast from the Lookout Mountain resource. It is correlative with the Water Well or Orpiment Discovery Zone, and extends that zone to the north from historical intercepts, which include: 4.6m at 4.73 g/t Au and 7.7m at 5.02 g/t Au. Lookout Mountain Target Recent Drill Intercepts (Using a cutoff of 0.3 g/t Au) //st Hole Azimuth Inclination Total From To (m) Length Au Oxide/(degrees) (degrees) Depth (m) (m) (g/t) Sulfide (m) BHSE-183 0 -90 274.39 hole lost before target depth oxide BHSE-184 0 -90 169.17 3.05 21.34 18.29 0.93 oxide 48.77 64.01 15.24 0.51 oxide BHSE-186 0 -90 117.35 4.57 10.67 6.10 5.21 oxide - 47.24 73.15 25.91 0.77 oxide incl. 48.77 57.91 9.14 1.09 oxide BHSE-187 0 -90 338.33 266.70 292.61 25.91 2.18 sulfide incl. 266.70 274.32 7.62 4.49 sulfide BHSE-189 0 -90 320.00 Anomalous gold below cutoff. Drilling and sampling conducted in feet. Intervals are converted from feet to meters for reporting. Drill Thickness: True Thickness undetermined. Assay results are pending for three core holes which are significant step-outs from the existing mineral resource area.