Timberline Resources Corp (TLR)

Description:

Timberline Resources Corporation was incorporated in August of 1968 under the laws of the State of Idaho as Silver Crystal Mines, Inc., for the purpose of exploring for precious metal deposits and advancing them to production. In 2006, the Company acquired Kettle Drilling, Inc. and its Mexican subsidiary, World Wide Exploration S.A. de C.V. ('World Wide'). In September 2008, Kettle Drilling, Inc. changed its name to Timberline Drilling Incorporated ('Timberline Drilling'). Timberline Drilling provides drilling services to the mining and mineral exploration industries in the United States. In June 2010, the Company acquired Staccato Gold Resources Ltd. ('Staccato'), a Canadian (British Columbia) corporation, engaged in the exploration for precious metal deposits and advancing them to production. During the year ended September 30, 2010, the Company completed its acquisition of all of the issued and outstanding common shares of Staccato Gold Resources Ltd. ('Staccato'), by way of a court approved Plan of Arrangement under the Business Corporations Act (British Columbia) in accordance with the terms of an Arrangement Agreement, by and between the Company and Staccato. The acquisition was also approved by the Timberline stockholders and Staccato's security holders. Staccato was a publicly held Canadian (British Columbia) corporation engaged in the exploration of precious metals properties in Nevada. Timberline acquired Staccato in order to further the exploration and development of mineral properties owned or leased by Staccato, as well as to increase the working capital of the Company.