Gold & Copper Exploration in Nevada August, 2019 D I S C O - PowerPoint PPT Presentation

OTCQB: TLRS ǀ TSX.V: TBR Gold & Copper Exploration in Nevada August, 2019 D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G

Cautionary Statements OTCQB: TLRS ǀ TSX.V: TBR 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 statements include but are not limited to: statements regarding the Eureka Project resources and exploration targets, statements regarding future extraction operations, monetizing non-core assets, enhancing management team and board, and leveraging dual listing. When used herein, the words "anticipate," "believe," "estimate," “upcoming,” "plan," “target”, "intend" 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 such differences include, but are not limited to, risks related to exploration projects, risks related to mining activities, risks related to potential future transactions, risks related to the Company continuing as a going concern, risks related to the ability to finance any payments due, risks related to project development decisions, risks related to mineral resource estimates and other such factors, including risk factors discussed in the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.. Cautionary Statements Cautionary note to United States Investors Regarding Estimates of Resources: This presentation uses the terms "Measured Resources", "Indicated Resources", "Measured & Indicated Resources" and “Inferred Resources” We advise U.S. investors that while these terms are defined in and required by Canadian regulations under Canadian National Instrument 43-101, these 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. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and all necessary permits and governmental authorizations must be filed with the appropriate governmental authority. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC Industry Guide 7 standards as in place tonnage and grade without reference to unit measures. For Lookout Mountain resources, refer to Updated Technical Report on the Lookout Mountain Project effective March 1, 2013 and filed on SEDAR April 12, 2013. For Elder Creek and Paiute, refer to the Technical Reports effective and filed on SEDAR on November 28, 2018 . Steven Osterberg, Ph.D., P.G., Timberline’s President and CEO, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the technical contents of this presentation. 2 D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G

Investment Highlights OTCQB: TLRS ǀ TSX.V: TBR Experienced Management and Board Lookout Mountain: High-Grade Gold Intercepts (4) Tight Capital Structure Length Length Gold Drill Hole Gold (opt) Nevada: World-Class Mining Jurisdiction (feet) 4 (meters) 4 (g/t) BH05-01 65 0.344 Drill Discovery Success: Gold, and Copper-Gold 19.8 11.79 Exploration including 25 0.641 7.6 21.98 • BH05-03 3 2.250 Elder Creek/Paiute: Porphyry Copper-Gold (3) 0.9 77.14 • Eureka: NI43-101 resources (1) ; Carlin-type Gold BH06-02 27 0.364 8.2 12.48 − Measured & Indicated: 508,000 ounces BH06-07 92 0.217 28.0 7.44 − Inferred: 141,000 ounces BH06-13 3 1.470 0.9 50.40 − Associated high-grade gold Carlin-type intercepts (2) at BR-19 15 0.323 4.6 11.07 Lookout Mountain BR-19 75 0.283 22.9 9.70 Fully Funded Lookout Mountain Joint Venture Agreement BR-26 20 6.1 0.323 11.07 • RTR-134 55 0.345 16.8 11.83 Elder Creek Drill Intercepts (4 ) RTR-180 10 3.0 0.345 11.83 Total 1 Total 4 Cu Mo Au Ag RTR-181 15 0.197 4.6 6.75 (feet) (meters) (g/t) (g/t) RTR-258 10 0.430 CCEC18-02 657 200.3 1,450 ppm 730 ppm - 4.1 3.0 14.74 i ncluding: BHSE-126C 15 0.967 4.6 33.15 46.5 14.2 1.20 % 0.31 % 3 0.126 25.5 BHSE-151C 8.6 1.023 2.6 35.07 BHSE-152 10 0.165 3.0 5.66 RCEC18-01 500 152.4 0.21 % 3 including: BHSE-171 20 0.160 6.10 6.10 4 270 82.3 0.28 % BHSE-172 40 12.20 0.143 4.89 5 110 33.5 0.44 % 4 Drill thickness - True widths of intercepts have not been determined 15 4.6 0.55 % 0.331 13 (1) Refer to Updated Technical Report on the Lookout Mountain Project, MDA, Effective March 1, 2013, Filed on SEDAR April 12, 2013 (2) See Press Release dated November 26, 2018, October 2, 2018, August 8, 2018, July 10, 2018, and June 12, 2018 at http://timberline-resourc es.co/press-releases See Press Releases dated October 19, 2018, September 27, 2018, and June 8, 2018, at ‘http://timberline -resources.co/press-releases; and Technical Reports on the Elder Creek and Paiute (3) 3 Projects, Thomas Bidgood, Effective November 28, 2018, Filed on SEDAR November 28, 2018. D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G

Experienced Management & Board OTCQB: TLRS ǀ TSX.V: TBR Steven Osterberg, President, CEO & Director Leigh Freeman, Director, Chairman • • Over 25 years of domestic and international gold and base metals Over 35 years of mining industry experience in technical and exploration, permitting, development, and closure executive positions • • Senior technical and management positions with BHP Minerals, Co-founder of Orvana Minerals and currently CEO of Blue Sun Knight Piésold, and Tetra Tech Energy. Advisor to Montana Tech, University of Arizona, and South Dakota School of Mines. Past Chief Geophysicist at Placer Donald McDowell, Vice President, Director (Barrick) • Over 30 years of mining-related exploration, property evaluation, and Paul Dircksen, Director resource development primarily in Nevada, including 17 years with • majors (Santa Fe Pacific Gold, Kennecott Exploration, Nippon Over 35 years in precious metals world-wide exploration, Mining) development, and mining • • Founder of Americas Gold Exploration Inc. dedicated to exploration Senior management positions with Orvana Minerals, Lacana Gold, in Nevada, including recent instrumental role in the Carlin Vanadium the Cordex Syndicate, Brett Resources and Bravo Venture Group deposit David Mathewson, Director Ted Sharp, Chief Financial Officer, C.P.A. • Over 50 years of Carlin-style gold exploration experience, primarily • President of Sharp Executive Associates, Inc., a privately held firm in Nevada which provides CFO services to the exploration and mining resource • Former Newmont head of exploration leading notable discoveries sector at Tess, Northwest Rain, Saddle, South and Emigrant, Gold Quarry • Pre-2003, 14 years in positions of CFO, Managing Director of and Mike deposits European Operations, and Corporate Controller for Key Tech- • Co-founder and former VP of Exploration for Gold Standard nology, Inc., a publically traded manufacturer of capital goods. Ventures where he led consolidation of the Railroad-Pinion District • From 1981 to1989, worked in both public accounting and private and the North Bullion and Bald Mountain discoveries industry.  Strong Execution Capabilities Capital Markets, Exploration, Development, Permitting & Production 4 D I S C O V E R I N G ǀ D E V E L O P I N G ǀ D E L I V E R I N G