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Timberline Resources Corporation (OTCQB:TLRS) has welcomed Dr. Quinton Hennigh to its Board of Directors, enhancing its leadership with his extensive experience in gold exploration. The company completed a US$3.7 million financing and has initiated a drilling program at Lookout Mountain, targeting significant gold mineralization. With a previously defined resource of 508,000 oz M&I and 141,000 oz Inferred at Lookout Mountain, the exploration aims to discover additional high-grade gold zones. Timberline's strategic focus could lead to substantial opportunities at its Eureka and Seven Troughs projects.
Timberline Resources Corporation (OTCQB:TLRS)(TSX-V:TBR) announced the closure of a non-brokered private placement financing, issuing 33.6 million units at $0.11, totaling $3.7 million. Each unit comprises one common share and a warrant for an additional share at $0.20, expiring August 15, 2023. Proceeds are designated for exploration in Nevada, specifically at Lookout Mountain. Crescat Capital invested $1.8 million for 16.36 million units, reflecting confidence in Timberline's projects. This offering adheres to SEC regulations, with a 6% finder's fee paid. Insider participation totaled 909,091 units.
Timberline Resources Corporation (OTCQB:TLRS) has announced a non-brokered private placement offering of up to US$3,700,000 at US$0.11 per Unit for accredited investors. Each Unit includes a share of common stock and a purchase warrant exercisable at US$0.20 until August 15, 2023. Crescat Capital is set to invest US$1,800,000 in this offering, aimed at financing exploration in Nevada, particularly at Lookout Mountain. The offering remains subject to TSX Venture Exchange approval.