Timberline expands Nevada presence with Seven Troughs Epithermal acquisition

Timberline Resources announced the purchase of a large block of patented and unpatented mining claims comprising essentially the entire Seven Troughs gold mining district near Lovelock in Pershing County, Nevada. The purchased property package covers 3,900 acres, consisting of 64 patented and 76 unpatented lode mining claims, all of which are under a long-term lease agreement, along with 162 additional unpatented lode mining claims. The leased portion of the property package requires no lease payments or work commitments from Timberline. Terms of the purchase agreement include a cash payment of $50,000 from Timberline and a 2% NSR production royalty reserved to CIT with a standard royalty buy down clause.