Timberline Resources (TLRS) 10-K 29 Dec 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2015	Dec. 21, 2015	Mar. 31, 2015
Document and Entity Information
Entity Registrant Name	Timberline Resources Corporation
Document Type	10-K
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	1,288,750
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding		13,331,945
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 6,182,388
Trading Symbol	tlr

TIMBERLINE RESOURCES CORPORATIO

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)		Sep. 30, 2015	Sep. 30, 2014
CURRENT ASSETS:
Cash		$ 500,965	$ 2,825,320
Prepaid expenses and other current assets		23,589	30,769
Joint venture receivable		5,761	11,576
TOTAL CURRENT ASSETS		530,315	2,867,665
PROPERTY, MINERAL RIGHTS, AND EQUIPMENT, net		15,277,257	14,431,038
OTHER ASSETS:
Prepaid drilling services			440,000
Investment in joint venture		642,450	642,450
Restricted cash		764,662	971,854
Deposits and other assets		9,750	4,500
TOTAL OTHER ASSETS		1,416,862	2,058,804
TOTAL ASSETS		17,224,434	19,357,507
CURRENT LIABILITIES:
Accounts payable		219,474	140,697
Accrued expenses	[1]	313,048	57,419
Accrued directors' fees			91,000
Accrued payroll, benefits and taxes		130,965	35,958
TOTAL CURRENT LIABILITIES		663,487	325,074
LONG-TERM LIABILITIES:
Common stock payable			80,000
Asset retirement obligation		138,720	132,115
TOTAL LONG-TERM LIABILITIES		$ 138,720	$ 212,115
COMMITMENTS	[2]
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value; 200,000,000 shares authorized, 13,331,946 and 9,816,751 shares issued and outstanding, respectively		$ 13,332	$ 9,817
Additional paid-in capital		65,544,517	63,573,675
Accumulated deficit		(49,135,622)	(44,763,174)
TOTAL STOCKHOLDERS' EQUITY	[3]	16,422,227	18,820,318
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 17,224,434	$ 19,357,507
[1]	Note 11
[2]	Note 17
[3]	Note 15

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Sep. 30, 2015	Sep. 30, 2014
Statement of financial position
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	13,331,946	9,816,751
Common Stock, Shares Outstanding	13,331,946	9,816,751

TIMBERLINE RESOURCES CORPORATI4

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING EXPENSES:
Mineral exploration expenses	$ 1,527,638	$ 899,113
Salaries and benefits	933,505	857,765
Professional fees expense	388,167	360,161
Insurance expense	114,307	79,084
Abandonment of mineral rights	556,000	100,000
Gain on disposal of equipment		(16,565)
Gain on lease of mineral rights	(124,638)
General and administrative expenses	596,342	408,688
TOTAL OPERATING EXPENSES	3,991,321	2,688,246
LOSS FROM OPERATIONS	(3,991,321)	(2,688,246)
OTHER INCOME (EXPENSE):
Foreign exchange loss	(17,938)	(2,557)
Interest income (expense), net	175	(17,083)
Financing transaction expense	(274,049)
Loss on settlement of prepaid drilling services	(89,315)	(70,000)
TOTAL OTHER INCOME (EXPENSE)	(381,127)	(89,640)
LOSS BEFORE INCOME TAXES	(4,372,448)	(2,777,886)
INCOME TAX PROVISION	0	0
NET LOSS	$ (4,372,448)	$ (2,777,886)
NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS, BASIC AND DILUTED	$ (0.40)	$ (0.42)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	10,999,230	6,674,196

TIMBERLINE RESOURCES CORPORATI5

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)		Common Stock Shares		Common Stock Amount	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Sep. 30, 2013				$ 6,168	$ 58,275,476	$ (41,985,288)	$ 16,296,356
Shares outstanding at Sep. 30, 2013		6,168,490
Common stock issued for Talapoosa property option							17,226
Common stock issued for mineral exploration expenses, value				54	109,946		110,000
Common stock issued for mineral exploration expenses, shares		53,922
Common stock issued for property, mineral rights, and equipment purchase, value				17	39,983		40,000
Common stock issued for property, mineral rights, and equipment purchase, shares		16,667
Common stock issued in exchange for cancellation of note payable to Wolfpack pursuant to acquisition, value	[1]			707	1,016,520		$ 1,017,227
Common stock issued in exchange for cancellation of note payable to Wolfpack pursuant to acquisition, stock		706,407	[1]				706,407
Common stock issued for acquisition of Wolfpack Nevada, value	[2]			2,871	4,131,750		$ 4,134,621
Common stock issued for acquisition of Wolfpack Nevada, stock	[2]	2,871,265
Net loss						(2,777,886)	(2,777,886)
Stockholders' equity at Sep. 30, 2014				9,817	63,573,675	(44,763,174)	18,820,318	[3]
Shares outstanding at Sep. 30, 2014		9,816,751
Balance at Sep. 30, 2014				9,817	63,573,675	(44,763,174)	18,820,318
Common stock issued for Talapoosa property option	[4]			2,000	1,198,000		1,200,000
Common stock issued for Talapoosa property option, stock	[4]	2,000,000
Common stock compensation to employee				100	68,900		69,000
Common stock compensation to employee, stock		100,000
Common stock issued for cash at $0.375 per share				1,332
Common stock issued for cash at $0.375 per share, stock		1,331,861
Stock based compensation					125,909		125,909
Common stock issued for property, mineral rights, and equipment purchase, value				83	79,917		$ 80,000
Common stock issued for property, mineral rights, and equipment purchase, shares		83,334
Common stock issued for acquisition of Wolfpack Nevada, stock							2,871,265
Net loss						(4,372,448)	$ (4,372,448)
Stockholders' equity at Sep. 30, 2015				$ 13,332	$ 65,544,517	$ (49,135,622)	$ 16,422,227	[3]
Shares outstanding at Sep. 30, 2015		13,331,946
[1]	Note 13
[2]	Note 4
[3]	Note 15
[4]	Note 5

TIMBERLINE RESOURCES CORPORATI6

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$ (4,372,448)	$ (2,777,886)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization		7,918	11,118
Accretion of asset retirement obligation		6,605	6,292
Common stock issued for mineral exploration expenses			110,000
Abandonment of mineral rights		556,000	100,000
Loss on settlement of prepaid drilling services		89,315	70,000
Gain on lease of mineral rights		(124,638)
Gain on disposal of equipment			(16,565)
Common stock issued for interest on note payable			17,226
Stock-based compensation		194,910
Changes in assets and liabilities:
Prepaid drilling services		75,685
Prepaid expenses and other current assets		7,180	(618)
Deposits and other assets		(5,250)
Joint venture receivable		5,815	42,010
Accounts payable		78,777	(64,200)
Accrued expenses		164,629	(155,873)
Accrued director fees			91,000
Accrued payroll, benefits, and taxes		95,007	(16,486)
Net cash used by operating activities		(3,220,495)	(2,583,982)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, mineral rights, and equipment		(444,000)	(158,000)
Proceeds from sale of property, mineral rights, and equipment		358,500	22,056
Refunded restricted cash		$ 207,192	16,184
Net cash acquired in acquisition of Wolfpack Nevada	[1]		3,554,143
Settlement of prepaid drilling services		$ 275,000	150,000
Net cash provided by investing activities		396,692	3,584,383
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of note payable to Wolfpack			1,000,000
Proceeds from issuance of common stock		499,448
Net cash provided by financing activities		499,448	1,000,000
Net increase (decrease) in cash		(2,324,355)	2,000,401
CASH AT BEGINNING OF YEAR		2,825,320	824,919
CASH AT END OF YEAR		500,965	2,825,320
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Common stock issued for mineral rights purchase		$ 1,280,000	40,000
Common stock payable for mineral rights			80,000
Common stock issued to repay note payable and accrued interest			1,017,226
Common stock issued in connection with acquisition of Wolfpack Nevada	[1]		$ 4,134,621
[1]	Note 4

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Sep. 30, 2015
Notes
Note 1 - Organization and Description of Business:	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS: Timberline Resources Corporation (“Timberline” or “the Company”, “we”, “us”, “our”) 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, we acquired Kettle Drilling, Inc. and its Mexican subsidiary, World Wide Exploration S.A. de C.V. (“World Wide”). In 2008, Kettle Drilling, Inc. changed its name to Timberline Drilling Incorporated (“Timberline Drilling”). In 2011 we closed the sale of Timberline Drilling and World Wide and became solely a mineral exploration enterprise.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2015
Notes
Note 2 - Summary of Significant Accounting Policies:	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Basis of Presentation and going concern The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without raising additional funds. During the year ended September 30, 2015, the Company raised $499,448 cash from the issuance of common stock, and received cash of $275,000 from the liquidation of a prepaid drilling services asset. The Company currently has no historical recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements or its ability to profitably execute its business plan. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used. b. Principles of Consolidation c. Exploration Expenditures d. Fair Value of Financial Instruments e. Cash Equivalents f. Restricted Cash g. Estimates and Assumptions h. Investments We also have a 50% interest in a joint venture at our Butte Highlands Gold Project (see Note 8). i . Property and Equipment – j. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment – k. Asset Retirement Obligations – l. Provision for Income Taxes – m. Translation of Foreign Currencies – n. Stock-based Compensation o. Net Loss per Share The dilutive effect of convertible and outstanding securities as of September 30, 2015 and 2014 is as follows: 2015 2014 Stock options 533,778 203,334 Warrants 25,000 25,000 Total potential dilution 558,778 228,334 At September 30, 2015 and 2014, the effect of the Company’s outstanding stock options and common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

Note 3 - Fair Value of Financia

Note 3 - Fair Value of Financial Instruments	12 Months Ended
	Sep. 30, 2015
Notes
Note 3 - Fair Value of Financial Instruments:	NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS: The table below sets forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2015 and 2014, respectively, and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category. 2015 2014 Input Hierarchy Level Assets: Cash $ 500,965 $ 2,825,320 Level 1 Restricted cash 764,662 971,854 Level 1

Note 4 - Acquisition of Wolfpac

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.	12 Months Ended
	Sep. 30, 2015
Notes
Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.:	NOTE 4 – ACQUISITION OF WOLFPACK GOLD (NEVADA) CORP.: On August 15, 2014, we completed our acquisition of all of the issued and outstanding common shares of Wolfpack Gold (Nevada) Corp. (“Wolfpack Nevada”) in accordance with the terms of an Arrangement Agreement, dated May 6, 2014, by and between the Company and the parent company of Wolfpack Nevada, Wolfpack Gold Corp (“Wolfpack”). The acquisition was approved by the stockholders of both Timberline and Wolfpack. Wolfpack Nevada was a subsidiary company of Wolfpack, a publicly held Canadian corporation engaged in the exploration of precious metals properties in Nevada. We acquired Wolfpack Nevada in order to further the exploration and development of mineral properties owned or leased by Wolfpack Nevada, as well as to increase our working capital. This transaction was accounted for as a business combination. We acquired all of the shares of Wolfpack Nevada in consideration for the issuance of one share of common stock of Timberline for each 0.75 common shares of Wolfpack. Pre-acquisition Timberline shareholders own approximately 64% of our issued and outstanding common stock as of the acquisition date and former Wolfpack shareholders own approximately 36%. The purchase price of the transaction was $5,151,847, consisting entirely of the issuance of 3,577,672 shares of our common stock. Of the 3,577,672 shares of common stock issued, 706,407 shares of common stock were issued to Wolfpack in exchange for the cancellation of a $1,000,000 promissory note of Timberline held by Wolfpack, as well as $17,226 of accrued and unpaid interest on the promissory note (see Note 13). We incurred $256,223 in expenses specifically related to the acquisition, $236,866 of which is included in professional fees expense, $1,918 is included in mineral exploration expenses, and $17,439 is included in other general and administrative expenses in the consolidated statement of operations for the year ended September 30, 2014. The acquisition of Wolfpack Nevada closed at 9:00 a.m. pacific time on August 15, 2014. The closing price of the Company’s common stock on the NYSE MKT on the day prior to this date was $1.44 per share (adjusted for the reverse stock split – See Note 15). The purchase price allocation of the acquisition is summarized as follows: Purchase price: Shares issued on acquisition $ 5,151,847 Cancellation of promissory note and accrued interest (1,017,226) $ 4,134,621 Net assets acquired: Cash $ 3,554,143 Restricted cash 348,616 Property, mineral rights, and equipment, net 231,862 $ 4,134,621 The unaudited pro forma financial information below represents the combined results of our operations as if Year ended September 30, 2014 Loss from operations $ (6,910,000) Net loss (7,000,000) Net loss per share available to common stockholders, basic and diluted $ (1.05)

Note 5 - Property Option Agreem

Note 5 - Property Option Agreement	12 Months Ended
	Sep. 30, 2015
Notes
Note 5 - Property Option Agreement:	NOTE 5 – PROPERTY OPTION AGREEMENT: On March 12, 2015 (the “Effective Date”), we entered into a property option agreement (“Agreement”) with Gunpoint Exploration Ltd. (“Gunpoint”), which closed on March 31, 2015. Gunpoint granted us an exclusive and irrevocable option (“Option”) to purchase a 100% interest in Gunpoint’s Talapoosa project (the “Project”) in western Nevada. Pursuant to the Agreement, we have the right to exercise the Option at any time beginning on March 31, 2015 and ending within thirty (30) months of March 12, 2015, unless sooner terminated (“Option Period”). As consideration for the Option, we agreed to issue two million (2,000,000) shares of common stock and pay $300,000 in cash. A $100,000 cash payment was made on March 31, 2015, and the balance of $200,000 was paid on September 23, 2015. The common stock was valued at fair value on the Effective Date and capitalized with the cash payments of $300,000 for a total of $1,500,000. The common stock was issued on March 31, 2015 and is being held in escrow. The shares are irrevocable and will be released to Gunpoint as follows: 25% on September 12, 2015 (which has been released); 25% on March 12, 2016; 25% on September 12, 2016; and 25% on March 12, 2017. Gunpoint will receive the total of 2,000,000 shares even if the Company does not exercise the Option. At any time during the Option Period, we may purchase 100% of Talapoosa by providing written notification thereof and paying to Gunpoint $10 million in cash (the “Option Payment”) within ninety (90) days of the notification date. Upon the date that Gunpoint receives the Option Payment (the “Closing Date”), we will have earned a 100% interest in the Project. For a period of five years following the Closing Date (“Contingent Payment Period”), should the daily price of gold (as determined by the London PM Fix) be fixed at or above $1,600, on any single day during the Contingent Payment Period (the “Initial Threshold Event”) and at any time after the Initial Threshold Event during the Contingent Payment Period the daily price of gold (as determined by the London PM Fix) averages U.S.$1,600 per ounce or greater for a period of ninety (90) consecutive trading days (the “Trigger Event”), we shall be required to pay or cause to be paid to Gunpoint an additional payment of $10 million (the “Contingent Payment”) within ninety (90) days of the date that the Trigger Event is deemed to have occurred. The Contingent Payment shall consist of $5 million in cash, and the remainder shall be paid either in cash or in shares of our common stock or a combination thereof at our sole discretion. Following our exercise of the Option, effective as of the Closing Date, Gunpoint reserves a net smelter returns royalty in all minerals mined and removed from the Project, in the amount of one percent (1%). We may purchase the royalty from Gunpoint at any time for a cash payment of $3 million.

Note 6 - Non-binding Acquisitio

Note 6 - Non-binding Acquisition Agreement	12 Months Ended
	Sep. 30, 2015
Notes
Note 6 - Non-binding Acquisition Agreement:	NOTE 6 – NON-BINDING ACQUISITION AGREEMENT: On September 13, 2015, we signed a non-binding Letter Agreement ("Letter Agreement") with Waterton Precious Metals Fund II Cayman, LP (together with its subsidiaries and affiliated and associated entities, "Waterton"). Waterton offered to acquire all of the issued and outstanding shares of our common stock for cash consideration of US$0.58 per share (the "Transaction"). The structure of the proposed Transaction was to be determined, and the consummation of the Transaction was subject to completion of due diligence, execution of definitive agreements, Board and regulatory approvals, and other customary closing conditions. Pursuant to the Letter Agreement, we granted Waterton an exclusivity period until 30 days following receipt of certain due diligence materials to complete its due diligence review and for the execution of definitive agreements, which may include Lock-up Agreements with each of our Directors and Officers and a Support Agreement. We also granted Waterton customary deal protections including a 5% break fee payable in the event we enter into an alternative transaction within a 90-day period following expiry of the exclusivity period. On September 23, 2015, in connection with the Transaction, Waterton received 1,331,861 common shares of Timberline on a private placement basis at a price of $0.375 per share for total proceeds of $499,448. Waterton owns 9.98% of our common shares. The private placement was not contingent on completion of the Transaction, and Waterton will have the right to maintain its pro rata ownership position in us in the event the Transaction is not completed. Subsequent to September 30, 2015, the exclusivity period granted to Waterton in the Letter Agreement expired, and the Transaction as previously proposed was withdrawn by Waterton.

Note 7 - Property, Mineral Righ

Note 7 - Property, Mineral Rights and Equipment	12 Months Ended
	Sep. 30, 2015
Notes
Note 7 - Property, Mineral Rights and Equipment:	NOTE 7 – PROPERTY, MINERAL RIGHTS AND EQUIPMENT: The following is a summary of property, mineral rights, and equipment and accumulated depreciation at September 30, 2015 and 2014: Expected Useful Lives (years) 2015 2014 Mineral rights – Talapoosa $ 1,551,000 $ - Mineral rights – Eureka 13,618,842 13,527,842 Mineral rights – Other 50,000 829,362 Total mineral rights 15,219,842 14,357,204 Equipment and vehicles 2-5 144,853 153,353 Office equipment and furniture 3-7 70,150 70,150 Land 51,477 51,477 Total property and equipment 266,480 274,980 Less accumulated depreciation (209,065) (201,146) Property and equipment, net $ 15,277,257 $ 14,431,038 Fair value measurements on a nonrecurring basis using significant unobservable inputs Description Input Hierarchy Level Net Book Value Fair Market Value Measurement Method Impairment Fair Market Value Mineral rights – Iron Butte Level 3 $ 426,000 - Market analysis $ 426,000 - Mineral rights – Toole Springs Level 3 130,000 - Market analysis 130,000 - Mineral rights – Talapoosa Level 3 1,551,000 $ 1551,000 Market analysis - $ 1551,000 Mineral rights – Eureka Level 3 13,618,842 13,618,842 Market analysis - 13,618,842 Mineral rights – Other Level 3 50,000 50,000 Market analysis - 50,000 Total $15,775,842 $15,219,842 $556,000 $15,219,842 During the year ended September 30, 2015, it was determined that impairments in the values of our Iron Butte and Toole Springs properties existed. The net book value of our Iron Butte property was $426,000, and the entire carrying value of $426,000 was written off as abandonment of mineral properties during the year ended September 30, 2015. The net book value of our Toole Springs property was $130,000, and the entire carrying value of $130,000 was written off as abandonment of mineral properties during the year ended September 30, 2015. No other impairments were recorded at September 30, 2015. During the year ended September 30, 2014, it was determined that an impairment in the value of our White Rock property existed. The net book value was $100,000, and the entire carrying value of $100,000 was written off as impairment of mineral properties during the year ended September 30, 2014. No other abandonments or impairments were recorded at September 30, 2014. During the year ended September 30, 2015, we received $350,000 in lease income from a property leased to a third party. In accordance with GAAP, the carrying value of the property was reduced to zero resulting in a reduction of $225,362 in property, mineral rights, and equipment, net. The excess of $124,638 was recorded on the Consolidated Statements of Operations as a gain on lease of mineral rights. Depreciation expense for the years ended September 30, 2015 and 2014 was $7,918 and $11,118, respectively.

Note 8 - Investment in Joint Ve

Note 8 - Investment in Joint Venture	12 Months Ended
	Sep. 30, 2015
Notes
Note 8 - Investment in Joint Venture:	NOTE 8 – INVESTMENT IN JOINT VENTURE: In July 2009, we entered into a joint venture operating agreement (the “Agreement”) with Highland Mining, LLC (“Highland”). The joint venture entity, Butte Highlands JV, LLC (“BHJV”) was created for the purpose of developing and mining the Butte Highlands Gold Project. As a result of our contribution of our 100% interest in the Butte Highlands Gold Project, carried on our balance sheet at cost, we hold a 50% interest in BHJV. Under terms of the agreement, our interest in BHJV will be carried to production by Highland, which will fund all future project exploration and mine development costs. Under the Agreement, Highland contributed property and will fund all future mine development costs at Butte Highlands. Both the Company’s and Highland’s share of development costs will be paid from proceeds of future mine production. The Agreement stipulates that Highland shall appoint a manager of BHJV and that Highland will manage BHJV until such time as all mine development costs, less $2 million (the deemed value of our contribution of property to BHJV), are distributed to Highland out of the proceeds from future mine production. At September 30, 2015 and 2014, we have a receivable from BHJV for expenses incurred on behalf of BHJV in the amount of $5,761 and $11,576, respectively.

Note 9 - Prepaid Drilling Servi

Note 9 - Prepaid Drilling Services	12 Months Ended
	Sep. 30, 2015
Notes
Note 9 - Prepaid Drilling Services:	NOTE 9 – PREPAID DRILLING SERVICES: During the year ended September 30, 2012, we obtained $1,100,000 in prepaid drilling services as a portion of the consideration received from the sale of Timberline Drilling. The prepayment amount represents discounts on future drilling services or cash, if we do not use the prepaid drilling services, to be provided by Timberline Drilling to us between November 2011 and November 2016. During the year ended September 30, 2014, we accepted $150,000 as settlement of the portion of the prepaid drilling services that was due to be paid to the Company in November 2014 ($220,000), resulting in a $70,000 loss on settlement of prepaid drilling services. During the year ended September 30, 2015, we used $75,685 in drilling services, and we accepted $275,000 as a settlement of the remaining portion of prepaid drilling services that was due to be paid to the Company in November 2015 ($144,315) and November 2016 ($220,000), resulting in an $89,315 loss on settlement of prepaid drilling services. As of September 30, 2015, the balance of the prepaid drilling services is nil. The following table summarizes activity in our prepaid drilling services at September 30, 2015 and 2014: 2015 2014 Beginning balance $ 440,000 $ 660,000 Prepaid drilling services used (75,685) - Cash received in lieu of drilling services (275,000) (150,000) Loss on settlement of prepaid drilling services (89,315) (70,000) Ending balance $ - $ 440,000

Note 10 - Related-party Transac

Note 10 - Related-party Transactions	12 Months Ended
	Sep. 30, 2015
Notes
Note 10 - Related-party Transactions:	NOTE 10 – RELATED-PARTY TRANSACTIONS: Director fees The Company has accrued nil and $91,000 in director fees as of the years ended September 30, 2015 and September 30, 2014, respectively.

Note 11 - Accrued Expenses

Note 11 - Accrued Expenses	12 Months Ended
	Sep. 30, 2015
Notes
Note 11 - Accrued Expenses:	NOTE 11 – ACCRUED EXPENSES: The Company has accrued $313,048 in expenses, including $274,049 in financing transaction costs as a result of two potential financing transactions that were not completed. The components of these accrued expenses are: Description Amount Break fee for terminated transaction $ 250,000 Broker expenses 24,049 Other expenses 38,999 $ 313,048

Note 12 - Asset Retirement Obli

Note 12 - Asset Retirement Obligation	12 Months Ended
	Sep. 30, 2015
Notes
Note 12 - Asset Retirement Obligation:	NOTE 12 – ASSET RETIREMENT OBLIGATION: We have established an asset retirement obligation (“ARO”) for our exploration program at the Lookout Mountain Project. The ARO resulted from the reclamation and remediation requirements of the United States Bureau of Land Management as outlined in our permit to carry out the exploration program. Estimated reclamation costs at the Lookout Mountain Project were discounted using a credit-adjusted, risk-free interest rate of 5% from the time we expect to pay the retirement obligation to the time we incurred the obligation, which is estimated at 10 years. The following table summarizes activity in our ARO liability for the years ended September 30, 2015 and 2014: 2015 2014 Beginning balance $ 132,115 $ 125,823 Accretion expense 6,605 6,292 Ending balance $ 138,720 $ 132,115

Note 13 - Note Payable

Note 13 - Note Payable	12 Months Ended
	Sep. 30, 2015
Notes
Note 13 - Note Payable:	NOTE 13 – NOTE PAYABLE: On March 14, 2014, we entered into a promissory note (the “Note”) and deed of trust, security agreement, assignment of leases and rents and fixture filing to secure promissory note (the “Deed of Trust”) with Wolfpack Gold Corp. (“Wolfpack”). Timberline and Wolfpack entered into the Note and the Deed of Trust in connection with a proposed business combination (the “Proposed Transaction”) that was the subject of a letter of intent between the parties dated effective March 11, 2014 and was completed on August 15, 2014 (see Note 4). Pursuant to the Note, we agreed to repay Wolfpack the unpaid principal amount of advances made under the Note up to a maximum principal amount of $1,000,000, together with accrued interest thereon. The amount drawn on the Note bore interest at 5% during the first six months of the loan and 10% thereafter until repaid. Interest was payable in arrears on the date that the Note was prepaid, in proportion to the principal amount being prepaid, or on the date that the Note was due and payable. The Note became payable five business days after the Proposed Transaction closed. The outstanding principal amount of $1,000,000, together with accrued interest of $17,226, was paid to Wolfpack with the issuance of 706,407 shares of our common stock on August 15, 2014.

Note 14 - Income Taxes

Note 14 - Income Taxes	12 Months Ended
	Sep. 30, 2015
Notes
Note 14 - Income Taxes:	NOTE 14 – INCOME TAXES: We have not recognized a provision for income taxes for the years ended September 30, 2015 and 2014. At September 30, 2015 and 2014, we had deferred tax assets arising principally from net operating loss carry forwards for income tax purposes. As our management cannot determine that it is more likely than not that we will realize the benefit of the net deferred tax asset, a valuation allowance equal to 100% of the net deferred tax asset has been recorded at September 30, 2015 and 2014. The components of our deferred taxes at September 30, 2015 and 2014 are as follows: 2015 2014 Net deferred tax asset: Exploration costs $ 971,000 $ 930,000 Property, mineral rights, and equipment 109,000 30,000 Long-term investments 180,000 180,000 Foreign investment expenses - - Share-based compensation 2,127,000 2,106,000 Alternative minimum tax credit carryforward 2,000 2,000 Foreign income tax credit carryforwards 697,000 697,000 Federal and state net operating losses 13,568,000 12,376,000 Foreign net operating losses 1,736,000 1,736,000 Total deferred tax asset 19,390,000 18,057,000 Valuation allowance (19,390,000) (18,057,000) Deferred tax asset $ 0 $ 0 BH Minerals USA, Inc. Net deferred tax asset: Property, mineral rights, and equipment $ (3,810,000) $ (3,812,000) Exploration costs 2,468,000 2,693,000 Federal and state net operating losses 4,192,000 3,694,000 Total deferred tax asset 2,850,000 2,575,000 Valuation allowance (2,850,000) (2,575,000) Deferred tax asset $ 0 $ 0 The federal income taxes of our wholly owned subsidiary, BH Minerals USA, Inc., are not consolidated with those of the rest of the Company since BH Minerals USA, Inc. is wholly owned by our Canadian subsidiary, Staccato Gold Resources Ltd. At September 30, 2015, net deferred tax assets prior to the valuation allowance were $19,390,000 compared to $18,057,000 at September 30, 2014. The change is primarily due to the increase in net operating loss. The annual tax benefit is different from the amount that would be provided by applying the statutory federal income tax rate to our pretax loss for the following reasons: 2015 2014 (4,372,448) (2,731,541) Statutory Federal income tax rate 35% 35% Expected income tax benefit based on statutory rate $ (1,530,000) $ (956,000) Permanent differences 27,000 2,000 Effect of state taxes (105,000) (128,000) Effect of tax rate changes - - Non-recognition due to increase in valuation allowance 1,608,000 1,082,000 Total income tax benefit $ 0 $ 0 We have no unrecognized tax benefits at September 30, 2015 or 2014. It is not anticipated that there will be any significant changes to unrecognized tax benefits within the next twelve months. If interest and penalties were to be assessed, we would charge interest to interest expense, and penalties to other operating expense. Fiscal years 2012 through 2015 remain subject to examination by state and federal tax authorities. At September 30, 2015, we had federal net operating loss carryforwards of approximately $36.8 million which will expire in fiscal years ending September 30, 2018 through September 30, 2035. Approximately $13.8 million of state net operating loss carryforwards will expire in fiscal years ending September 30, 2016 through September 30, 2035. At September 30, 2015 we also have approximately $6.7 million in net operating loss carryforwards in Canada which will expire in fiscal years ending September 30, 2025 through September 30, 2032. At September 30, 2015 we have $697,000 of foreign tax credit carryover that will expire September 30, 2018. The Tax Reform Act of 1986 substantially changed the rules relative to the use of net operating loss and general business credit carryforwards in the event of an “ownership change” of a corporation. Due to the change in ownership in 2004, we are restricted in the future use of net operating losses generated before the ownership change. As of September 30, 2015, this limitation is applicable to accumulated federal net operating losses of approximately $240,000. As a result of the tax-free Wolfpack Nevada acquisition (See Note 4), the Company’s deferred tax asset increased by $3,308,000. The asset is fully reserved. This amount includes $9,500,000 of federal net operating loss carryover that is limited by Code Section 382. As of September 30, 2015, the Company has not determined if any other losses are limited by IRS Code Section 382 after the acquisition.

Note 15 - Common Stock, Warrant

Note 15 - Common Stock, Warrants and Preferred Stock	12 Months Ended
	Sep. 30, 2015
Notes
Note 15 - Common Stock, Warrants and Preferred Stock:	NOTE 15 – COMMON STOCK, WARRANTS AND PREFERRED STOCK: One-for-twelve Reverse Stock Split Effective October 31, 2014, our board of directors and stockholders approved a one-for-twelve reverse stock split of the Company’s common stock. After the reverse stock split, each holder of record held one share of common stock for every 12 shares held immediately prior to the effective date. As a result of the reverse stock split, the number of shares underlying outstanding stock options and warrants and the related exercise prices were adjusted to reflect the change in the share price and outstanding shares on the date of the reverse stock split. The effect of fractional shares was not material. Following the effective date of the reverse stock split, the par value of the common stock remained at $0.001 per share. As a result, we have reduced the common stock in the consolidated balance sheets and statement of changes in stockholders’ equity included herein on a retroactive basis for all periods presented, with a corresponding increase to additional paid-in capital. All share and per-share amounts and related disclosures have been retroactively adjusted for all periods presented to reflect the one-for-twelve reverse stock split. Increase in Authorized Shares During the year ended September 30, 2014, our board of directors and stockholders approved an increase in the number of authorized shares of common stock from 100,000,000 shares, par value $ 0.001 , to 200,000,000 shares of common stock, par value $ 0.001 . Private Placement In September 2015, in connection with the Transaction with Waterton (Note 6), we closed a private placement of our common stock. We sold 1,331,861 shares of common stock to Waterton at a price of $0.375 per share for gross proceeds of $499,448. Stock issued for services During the year ended September 30, 2014, pursuant to a vendor agreement related to the provision of metallurgical testing services, we issued 53,922 restricted common shares with a value of $110,000 based upon the closing price of our shares of common stock on the date of issuance as quoted on the NYSE MKT. Stock Issued for Mineral Rights, Property and Equipment During the year ended September 30, 2014, pursuant to an amended mineral property lease and option agreement for mineral claims, we issued 16,667 restricted common shares with a value of $40,000 based upon the closing price of our shares of common stock on the date of issuance as quoted on the NYSE MKT. During the year ended September 30, 2014, 83,334 shares of common stock were due to be issued as a portion of the consideration for an option to acquire a package of mineral claims in Nevada. The common stock was issued subsequent to September 30, 2014 on October 3, 2014. The common stock issued was valued at the closing price of our common stock on the date prior to the due date for the issuance as quoted on the NYSE MKT, which was $0.96 per share, for a total value of $80,000, which is common stock payable on September 30, 2014. On March 31, 2015, pursuant to a property option agreement (Note 5), we issued 2,000,000 restricted common shares with a value of $1,200,000 based upon the closing price of our shares of common stock as quoted on the NYSE MKT on March 12, 2015, the effective date of the property option agreement. Stock Issued for Compensation On January 27, 2015, we issued 100,000 restricted common shares for employee compensation. The shares were valued at $69,000 based upon the closing price of our shares of common stock on the date of issuance as quoted on the NYSE MKT. Stock Issued for Repayment of Note Payable On March 14, 2014, we entered into a promissory note (the “Note”) and deed of trust, security agreement, assignment of leases and rents and fixture filing to secure promissory note (the “Deed of Trust”) with Wolfpack Gold Corp. (“Wolfpack”). (see Notes 4 and 11). The outstanding principal amount of $1,000,000, together with accrued interest of $17,226, was paid to Wolfpack with the issuance of 706,407 shares of our common stock on August 15, 2014. Stock Issued for Acquisition On August 15, 2014, we issued 2,871,265 shares of our common stock in connection with the acquisition of Wolfpack (Note 4). Warrants We issued 25,000 warrants during the year ended September 30, 2013 in connection with our Public Offerings. 12,500 of the warrants are exercisable on a cashless basis, at the holders’ option, for a two-year term commencing December 26, 2013. The remaining 12,500 warrants are exercisable on a cashless basis, at the holders’ option, for a two-year term commencing September 10, 2014. No warrants were issued during the year ended September 30, 2015, and no warrants were exercised or expired during the years ended September 30 2015 or 2014. Preferred Stock We are authorized to issue up to 10,000,000 shares of preferred stock, $.01 par value. OOur Board of Directors is authorized to issue the preferred stock from time to time in series, and is further authorized to establish such series, to fix and determine the variations in the relative rights and preferences as between series, to fix voting rights, if any, for each series, and to allow for the conversion of preferred stock into common stock.

Note 16 - Stock Options

Note 16 - Stock Options	12 Months Ended
	Sep. 30, 2015
Notes
Note 16 - Stock Options:	NOTE 16 – STOCK OPTIONS: During the year ended September 30, 2015 our Board of Directors adopted and our stockholders approved the adoption of the Company’s 2015 Stock and Incentive Plan. This plan replaces our 2005 Equity Incentive Plan, as amended. The aggregate number of shares that may be issued to employees, directors, and consultants under all stock-based awards made under the 2015 Stock and Incentive Plan will be 4 million shares of our common stock. Upon exercise of options, shares are issued from the available authorized shares of the Company. Option awards are granted with an exercise price equal to the fair value of our stock at the date of grant. For the year ended September 30, 2015, a total of 399,189 options were granted and vested, and $125,909 in stock based compensation expense is included in the consolidated statements of operations for the year ended September 30, 2015. No option awards were granted during the year ended September 30, 2014, and no option awards vested under the plan during the period. Therefore, no stock based compensation expense is included in the consolidated statements of operations for the year ended September 30, 2014. The fair value of the option awards was estimated on the date of grant with a Black-Scholes option-pricing model using the assumptions noted in the following table: Options granted in December 2014 (365,000) and January 2015 (34,189) 2015 Expected volatility, minimum 100.9% Expected volatility, maximum 110.1% Weighted-average volatility, minimum 100.93% Weighted-average volatility, maximum 110.1% Stock price on date of grant, minimum $0.48 Stock price on date of grant, maximum $0.74 Expected dividends - Expected term (in years) 3 Risk-free rate, minimum 1.06% Risk-free rate, maximum 0.83% Expected forfeiture rate 0% Total compensation cost of options vested under the plan, charged against operations, is included in the consolidated statements of operations as follows: Year ended September 30, 2015 2014 Salaries and benefits $ 71,909 $ - General and administrative expenses 54,000 - Total $ 125,909 $ - The following is a summary of our options issued under our stock incentive plan: Shares Weighted Average Exercise Price Outstanding at September 30, 2013 439,292 $ 7.56 Granted - - Exercised - - Expired (235,959) (6.14) Outstanding at September 30, 2014 203,334 $ 9.09 Exercisable at September 30, 2014 203,334 $ 9.09 Weighted average fair value of options granted during the year ended September 30, 2014 $ 0 Outstanding at September 30, 2014 203,334 $ 9.09 Granted 399,189 - Exercised - - Expired (68,745) $ (10.56) Outstanding at September 30, 2015 533,778 $ 2.48 Exercisable at September 30, 2015 533,778 $ 2.48 Weighted average fair value of options granted during the year ended September 30, 2015 $ $0.32 Unrecognized compensation expense related to options at September 30, 2015 $ - Average remaining contractual term of options outstanding and exercisable at September 30, 2015 (years) 3.44 The aggregate of options both outstanding and exercisable as of September 30, 2015 had intrinsic value of zero based on the closing price per share of our common stock of $0.47 on September 30, 2015.

Note 17 - Commitments

Note 17 - Commitments	12 Months Ended
	Sep. 30, 2015
Notes
Note 17 - Commitments:	NOTE 17 – COMMITMENTS: Mineral Exploration A portion of our Lookout Mountain mineral claims are subject to a mining lease and agreement dated August 22, 2003 with Rocky Canyon Mining Company, as amended on June 1, 2008. The lease term was extended to 20 years on June 1, 2008, and thereafter for as long as minerals are mined on the project. Under this agreement we are obligated to make monthly advance royalty payments of $72,000 per annum. A portion of our Eureka mineral claims are subject to two mining lease with purchase option agreements dated July 12, 2012 with Silver International, Inc. The initial term of the agreement is five years and may be extended for an additional five years and annually as long as mining operations are being conducted. Under this agreement we are obligated to make annual advance royalty payments of $15,000 per annum. A portion of our Eureka mineral claims are subject to a mining claim lease agreement dated November 1, 2012 with four individuals. The initial term of the agreements is ten years and may be extended for an additional 20 years. Under these agreements we are obligated to make annual advance royalty payments of $12,000 per annum in 2015, increasing to $15,000 per annum in 2016 and thereafter. A portion of the Talapoosa mineral claims are subject to a mining lease and option to purchase agreement dated June 21, 2011 with Nevada Bighorns Unlimited Foundation. The initial term of the agreement is 20 years and may be extended for an additional 20 years and thereafter as long as minimum payments are being paid and exploration, development or mining activities are taking place. Under this agreement we are obligated to make annual minimum payments of $5.00 per acre ($6,400) through 2015, increasing by $5.00 per acre in 2016 and every five years thereafter. A portion of the Talapoosa mineral claims are subject to a mining lease with option to purchase agreement dated June 2, 1997 with Sario Livestock Company. The initial term of the agreement is 20 years and may be extended for an additional period of 20 years. Under this agreement we are obligated to make minimum royalty of $9,600 per annum. A portion of the Talapoosa mineral claims are subject to a mining lease dated July 14, 1990, as amended on August 25, 1998, and July 13, 2010 with Sierra Denali Minerals Inc.. The term of the agreement, as amended, is 10 years and may be extended for two additional periods of five years. Under this amended agreement we are obligated to make minimum payments of $35,000 per annum. During the year ended September 30, 2013, we announced that we had entered into a Lease and Option-to-Purchase Agreement (the "Knight Agreement") to evaluate, explore, and develop a package of mineral claims in Nevada comprised of six separate properties, including the Iron Butte Project. Annual advance royalty payments of $25,000 commenced under the Knight Agreement in March 2015. In order to continue exploration of the properties subject to the Knight Agreement, we were required to issue 83,334 shares of our common stock in September 2014 (which were issued in October 2014 upon approval for listing by the NYSE MKT) and 125,000 shares of our common stock in March 2016. We also held an option to purchase the claims for $2,000,000, in addition to the share issuances described above, on or before March 2017. The Knight Agreement did not require any annual work commitments, and provided us with a first right of refusal on certain other Nevada properties controlled by Mr. Knight and currently under lease to third parties. During the year ended September 30, 2015, we terminated the Knight Agreement and returned the properties to the underlying owner. We pay federal and county claim maintenance fees on several of our mineral exploration properties. The total of these fees was approximately $300,000 and $335,000 as of September 30, 2015 and 2014, respectively. Should we continue to explore all of our mineral properties we expect annual fees to total approximately $200,000 per year in the future. Real Estate Lease Commitments We have real estate lease commitments related to our main office in Coeur d’Alene, Idaho, and a facility in Reno, Nevada. Total office lease expenses for the years ended September 30, 2015 and 2014 are included in the consolidated statements of operations as follows: 2015 2014 Mineral exploration expenses $ 39,900 $ 15,600 Other general and administrative expenses 42,000 47,500 Total $ 81,900 $ 63,100 Annual lease obligations until the termination of the leases are as follows: For the year ending September 30, 2016 $ 62,800

Note 17 - Subsequent Events

Note 17 - Subsequent Events	12 Months Ended
	Sep. 30, 2015
Notes
Note 17 - Subsequent Events:	NOTE 17 – SUBSEQUENT EVENTS: On October 6, 2015, we granted 43,837 stock options and 675,000 stock units to certain employees pursuant to the Timberline 2015 Stock and Incentive Plan. The stock options and the stock units vested immediately. The term of the options is five years, and the exercise price of the options is $0.50, which is the closing price of our common stock as quoted on the NYSE MKT on the date of grant.

Note 2 - Summary of Significa25

Note 2 - Summary of Significant Accounting Policies: a. Basis of Presentation (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
a. Basis of Presentation	a. Basis of Presentation and going concern

Note 2 - Summary of Significa26

Note 2 - Summary of Significant Accounting Policies: b. Principles of Consolidation (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
b. Principles of Consolidation	b. Principles of Consolidation

Note 2 - Summary of Significa27

Note 2 - Summary of Significant Accounting Policies: c. Exploration Expenditures (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
c. Exploration Expenditures	c. Exploration Expenditures

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies: d. Fair Value of Financial Instruments (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
d. Fair Value of Financial Instruments	d. Fair Value of Financial Instruments

Note 2 - Summary of Significa29

Note 2 - Summary of Significant Accounting Policies: e. Cash Equivalents (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
e. Cash Equivalents	e. Cash Equivalents

Note 2 - Summary of Significa30

Note 2 - Summary of Significant Accounting Policies: f. Restricted Cash (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
f. Restricted Cash	f. Restricted Cash

Note 2 - Summary of Significa31

Note 2 - Summary of Significant Accounting Policies: g. Estimates and Assumptions (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
g. Estimates and Assumptions	g. Estimates and Assumptions

Note 2 - Summary of Significa32

Note 2 - Summary of Significant Accounting Policies: h. Investments (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
h. Investments	h. Investments We also have a 50% interest in a joint venture at our Butte Highlands Gold Project (see Note 8).

Note 2 - Summary of Significa33

Note 2 - Summary of Significant Accounting Policies: i. Property and Equipment (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
i. Property and Equipment	i . Property and Equipment –

Note 2 - Summary of Significa34

Note 2 - Summary of Significant Accounting Policies: j. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
j. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment	j. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment –

Note 2 - Summary of Significa35

Note 2 - Summary of Significant Accounting Policies: k. Asset Retirement Obligations (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
k. Asset Retirement Obligations	k. Asset Retirement Obligations –

Note 2 - Summary of Significa36

Note 2 - Summary of Significant Accounting Policies: l. Provision for Income Taxes (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
l. Provision for Income Taxes	l. Provision for Income Taxes –

Note 2 - Summary of Significa37

Note 2 - Summary of Significant Accounting Policies: m. Translation of Foreign Currencies (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
m. Translation of Foreign Currencies	m. Translation of Foreign Currencies –

Note 2 - Summary of Significa38

Note 2 - Summary of Significant Accounting Policies: n. Stock-based Compensation (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
n. Stock-based Compensation	n. Stock-based Compensation

Note 2 - Summary of Significa39

Note 2 - Summary of Significant Accounting Policies: Earnings Per Share, Policy (Policies)	12 Months Ended
	Sep. 30, 2015
Policies
Earnings Per Share, Policy	o. Net Loss per Share The dilutive effect of convertible and outstanding securities as of September 30, 2015 and 2014 is as follows: 2015 2014 Stock options 533,778 203,334 Warrants 25,000 25,000 Total potential dilution 558,778 228,334 At September 30, 2015 and 2014, the effect of the Company’s outstanding stock options and common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

Note 2 - Summary of Significa40

Note 2 - Summary of Significant Accounting Policies: Earnings Per Share, Policy: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	2015 2014 Stock options 533,778 203,334 Warrants 25,000 25,000 Total potential dilution 558,778 228,334

Note 3 - Fair Value of Financ41

Note 3 - Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	2015 2014 Input Hierarchy Level Assets: Cash $ 500,965 $ 2,825,320 Level 1 Restricted cash 764,662 971,854 Level 1

Note 4 - Acquisition of Wolfp42

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.: Schedule of Business Acquisitions, by Acquisition (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Business Acquisitions, by Acquisition	Purchase price: Shares issued on acquisition $ 5,151,847 Cancellation of promissory note and accrued interest (1,017,226) $ 4,134,621 Net assets acquired: Cash $ 3,554,143 Restricted cash 348,616 Property, mineral rights, and equipment, net 231,862 $ 4,134,621

Note 4 - Acquisition of Wolfp43

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.: Business Acquisition, Pro Forma Information (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Business Acquisition, Pro Forma Information	Year ended September 30, 2014 Loss from operations $ (6,910,000) Net loss (7,000,000) Net loss per share available to common stockholders, basic and diluted $ (1.05)

Note 7 - Property, Mineral Ri44

Note 7 - Property, Mineral Rights and Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Property, Plant and Equipment	Expected Useful Lives (years) 2015 2014 Mineral rights – Talapoosa $ 1,551,000 $ - Mineral rights – Eureka 13,618,842 13,527,842 Mineral rights – Other 50,000 829,362 Total mineral rights 15,219,842 14,357,204 Equipment and vehicles 2-5 144,853 153,353 Office equipment and furniture 3-7 70,150 70,150 Land 51,477 51,477 Total property and equipment 266,480 274,980 Less accumulated depreciation (209,065) (201,146) Property and equipment, net $ 15,277,257 $ 14,431,038

Note 7 - Property, Mineral Ri45

Note 7 - Property, Mineral Rights and Equipment: Fair Value Measurements, Nonrecurring (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Fair Value Measurements, Nonrecurring	Description Input Hierarchy Level Net Book Value Fair Market Value Measurement Method Impairment Fair Market Value Mineral rights – Iron Butte Level 3 $ 426,000 - Market analysis $ 426,000 - Mineral rights – Toole Springs Level 3 130,000 - Market analysis 130,000 - Mineral rights – Talapoosa Level 3 1,551,000 $ 1551,000 Market analysis - $ 1551,000 Mineral rights – Eureka Level 3 13,618,842 13,618,842 Market analysis - 13,618,842 Mineral rights – Other Level 3 50,000 50,000 Market analysis - 50,000 Total $15,775,842 $15,219,842 $556,000 $15,219,842

Note 9 - Prepaid Drilling Ser46

Note 9 - Prepaid Drilling Services: Schedule of Other Assets (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Other Assets	2015 2014 Beginning balance $ 440,000 $ 660,000 Prepaid drilling services used (75,685) - Cash received in lieu of drilling services (275,000) (150,000) Loss on settlement of prepaid drilling services (89,315) (70,000) Ending balance $ - $ 440,000

Note 11 - Accrued Expenses_ Sch

Note 11 - Accrued Expenses: Schedule of Accrued Liabilities (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Accrued Liabilities	Description Amount Break fee for terminated transaction $ 250,000 Broker expenses 24,049 Other expenses 38,999 $ 313,048

Note 12 - Asset Retirement Ob48

Note 12 - Asset Retirement Obligation: Schedule of Change in Asset Retirement Obligation (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Change in Asset Retirement Obligation	2015 2014 Beginning balance $ 132,115 $ 125,823 Accretion expense 6,605 6,292 Ending balance $ 138,720 $ 132,115

Note 14 - Income Taxes_ Schedul

Note 14 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2015 2014 Net deferred tax asset: Exploration costs $ 971,000 $ 930,000 Property, mineral rights, and equipment 109,000 30,000 Long-term investments 180,000 180,000 Foreign investment expenses - - Share-based compensation 2,127,000 2,106,000 Alternative minimum tax credit carryforward 2,000 2,000 Foreign income tax credit carryforwards 697,000 697,000 Federal and state net operating losses 13,568,000 12,376,000 Foreign net operating losses 1,736,000 1,736,000 Total deferred tax asset 19,390,000 18,057,000 Valuation allowance (19,390,000) (18,057,000) Deferred tax asset $ 0 $ 0 BH Minerals USA, Inc. Net deferred tax asset: Property, mineral rights, and equipment $ (3,810,000) $ (3,812,000) Exploration costs 2,468,000 2,693,000 Federal and state net operating losses 4,192,000 3,694,000 Total deferred tax asset 2,850,000 2,575,000 Valuation allowance (2,850,000) (2,575,000) Deferred tax asset $ 0 $ 0

Note 14 - Income Taxes_ Sched50

Note 14 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2015 2014 (4,372,448) (2,731,541) Statutory Federal income tax rate 35% 35% Expected income tax benefit based on statutory rate $ (1,530,000) $ (956,000) Permanent differences 27,000 2,000 Effect of state taxes (105,000) (128,000) Effect of tax rate changes - - Non-recognition due to increase in valuation allowance 1,608,000 1,082,000 Total income tax benefit $ 0 $ 0

Note 16 - Stock Options_ Schedu

Note 16 - Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Options granted in December 2014 (365,000) and January 2015 (34,189) 2015 Expected volatility, minimum 100.9% Expected volatility, maximum 110.1% Weighted-average volatility, minimum 100.93% Weighted-average volatility, maximum 110.1% Stock price on date of grant, minimum $0.48 Stock price on date of grant, maximum $0.74 Expected dividends - Expected term (in years) 3 Risk-free rate, minimum 1.06% Risk-free rate, maximum 0.83% Expected forfeiture rate 0%

Note 16 - Stock Options_ Sche52

Note 16 - Stock Options: Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Year ended September 30, 2015 2014 Salaries and benefits $ 71,909 $ - General and administrative expenses 54,000 - Total $ 125,909 $ -

Note 16 - Stock Options_ Sche53

Note 16 - Stock Options: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Share-based Compensation, Stock Options, Activity	Shares Weighted Average Exercise Price Outstanding at September 30, 2013 439,292 $ 7.56 Granted - - Exercised - - Expired (235,959) (6.14) Outstanding at September 30, 2014 203,334 $ 9.09 Exercisable at September 30, 2014 203,334 $ 9.09 Weighted average fair value of options granted during the year ended September 30, 2014 $ 0 Outstanding at September 30, 2014 203,334 $ 9.09 Granted 399,189 - Exercised - - Expired (68,745) $ (10.56) Outstanding at September 30, 2015 533,778 $ 2.48 Exercisable at September 30, 2015 533,778 $ 2.48 Weighted average fair value of options granted during the year ended September 30, 2015 $ $0.32 Unrecognized compensation expense related to options at September 30, 2015 $ - Average remaining contractual term of options outstanding and exercisable at September 30, 2015 (years) 3.44

Note 17 - Commitments_ Schedule

Note 17 - Commitments: Schedule of Rent Expense (Tables)	12 Months Ended
	Sep. 30, 2015
Tables/Schedules
Schedule of Rent Expense	2015 2014 Mineral exploration expenses $ 39,900 $ 15,600 Other general and administrative expenses 42,000 47,500 Total $ 81,900 $ 63,100

Note 2 - Summary of Significa55

Note 2 - Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Substantial Doubt about Going Concern	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without raising additional funds. During the year ended September 30, 2015, the Company raised $499,448 cash from the issuance of common stock, and received cash of $275,000 from the liquidation of a prepaid drilling services asset. The Company currently has no historical recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements or its ability to profitably execute its business plan. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.
Proceeds from issuance of common stock	$ 499,448
Cash received in lieu of drilling services	$ 275,000	$ 150,000

Note 2 - Summary of Significa56

Note 2 - Summary of Significant Accounting Policies: m. Translation of Foreign Currencies (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Foreign Currency Transaction Gain (Loss), Realized	$ 17,938	$ 2,557

Note 2 - Summary of Significa57

Note 2 - Summary of Significant Accounting Policies: Earnings Per Share, Policy: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Stock options	533,778	203,334
Warrants	25,000	25,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	558,778	228,334

Note 3 - Fair Value of Financ58

Note 3 - Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Details
Cash and Cash Equivalents, Fair Value Disclosure	$ 500,965	$ 2,825,320
Restricted Cash and Cash Equivalents, Current	$ 764,662	$ 971,854

Note 4 - Acquisition of Wolfp59

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp. (Details) - USD ($)	12 Months Ended
	Sep. 30, 2014	Aug. 15, 2014
Details
Business Combination, Consideration Transferred, Other	$ 5,151,847
Stock Issued During Period, Shares, Acquisitions	3,577,672
Common stock issued in exchange for cancellation of note payable to Wolfpack pursuant to acquisition, stock	706,407
Notes Payable	$ 1,000,000
Interest Paid	17,226
Business Combination, Acquisition Related Costs	256,223
Professional fees, business combination detail	236,866
Mineral Exploration Expense, business combination detail	1,918
General and Administrative Expense, business combination detail	$ 17,439
Business Acquisition, Share Price		$ 1.44

Note 4 - Acquisition of Wolfp60

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.: Schedule of Business Acquisitions, by Acquisition (Details)	12 Months Ended
	Sep. 30, 2014USD ($)
Details
Business Combination, Consideration Transferred, Other	$ 5,151,847
Debt cancelled, business combination detail	(1,017,226)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	4,134,621
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	3,554,143
Business combination recognized identifiable assets acquired and liabilities assumed, restricted cash	348,616
Business combination recognized identifiable assets acquired and liabilities assumed, property, mineral rights and equipment, net	231,862
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 4,134,621

Note 4 - Acquisition of Wolfp61

Note 4 - Acquisition of Wolfpack Gold (Nevada) Corp.: Business Acquisition, Pro Forma Information (Details)	12 Months Ended
	Sep. 30, 2014USD ($)$ / shares
Details
Business Acquisitions Pro Forma Income (Loss) from operations	$ (6,910,000)
Business Acquisition, Pro Forma Net Income (Loss)	$ (7,000,000)
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares	$ (1.05)

Note 5 - Property Option Agre62

Note 5 - Property Option Agreement (Details) - Gunpoint	12 Months Ended
	Sep. 30, 2015USD ($)shares
Share issuance on equity method investment | shares	2,000,000
Cash payment on equity method investment	$ 300,000
Payments to Acquire Equity Method Investments	$ 1,500,000

Note 6 - Non-binding Acquisit63

Note 6 - Non-binding Acquisition Agreement (Details)	12 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Proceeds from issuance of common stock	$ 499,448
Waterton
Common stock issued for cash at $0.375 per share, stock | shares	1,331,861
Sale of Stock, Price Per Share | $ / shares	$ 0.375
Proceeds from issuance of common stock	$ 499,448

Note 7 - Property, Mineral Ri64

Note 7 - Property, Mineral Rights and Equipment: Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Details
Mineral rights Talapoosa	$ 1,551,000
Mineral rights Eureka	13,618,842	$ 13,527,842
Mineral rights	50,000	829,362
Mineral Rights	15,219,842	14,357,204
Equipment and vehicles	144,853	153,353
Office equipment and furniture	70,150	70,150
Land	51,477	51,477
Property, Plant and Equipment, Gross	266,480	274,980
Accumulated depreciation	(209,065)	(201,146)
PROPERTY, MINERAL RIGHTS, AND EQUIPMENT, net	$ 15,277,257	$ 14,431,038

Note 7 - Property, Mineral Ri65

Note 7 - Property, Mineral Rights and Equipment: Fair Value Measurements, Nonrecurring (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Fair Value Measurements Nonrecurring Net Book Value	$ 15,775,842	$ 100,000
Assets, Fair Value Disclosure, Nonrecurring	15,219,842
Other than Temporary Impairment Losses, Investments	556,000
Assets, Fair Value Disclosure, Nonrecurring	$ 15,219,842

Note 7 - Property, Mineral Ri66

Note 7 - Property, Mineral Rights and Equipment (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Fair Value Measurements Nonrecurring Net Book Value	$ 15,775,842	$ 100,000
Abandonment of mineral rights	556,000	100,000
Lease income	350,000
Reduction in carrying value of property	225,362
Gain on lease of mineral rights	124,638
Depreciation	7,918	11,118
Iron Butte
Fair Value Measurements Nonrecurring Net Book Value	426,000
Abandonment of mineral rights	426,000
Toole Springs
Fair Value Measurements Nonrecurring Net Book Value	130,000
Abandonment of mineral rights	$ 130,000
White Rock
Fair Value Measurements Nonrecurring Net Book Value		100,000
Abandonment of mineral rights		$ 100,000

Note 8 - Investment in Joint 67

Note 8 - Investment in Joint Venture (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Details
Due from Affiliate, Current	$ 5,761	$ 11,576

Note 9 - Prepaid Drilling Ser68

Note 9 - Prepaid Drilling Services (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2012
Details
Prepaid drilling services acquired			$ 1,100,000
Cash received in lieu of drilling services	$ 275,000	$ 150,000
Cash received in lieu of drilling services	275,000	150,000
Loss on settlement of prepaid drilling services	$ 89,315	$ 70,000

Note 9 - Prepaid Drilling Ser69

Note 9 - Prepaid Drilling Services: Schedule of Other Assets (Details)	12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Details
Beginning balance, Prepaid drilling services	440,000	660,000
Prepaid drilling services	$ (75,685)
Cash received in lieu of drilling services	(275,000)	$ (150,000)
Loss on settlement of prepaid drilling services	$ (89,315)	(70,000)
Prepaid drilling services		$ 440,000

Note 10 - Related-party Trans70

Note 10 - Related-party Transactions (Details)	12 Months Ended
	Sep. 30, 2014USD ($)
Details
Noninterest Expense Directors Fees	$ 91,000

Note 11 - Accrued Expenses (Det

Note 11 - Accrued Expenses (Details) - USD ($)		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Details
Accrued expenses	[1]	$ 313,048	$ 57,419
Financing transaction costs		$ 274,049
[1]	Note 11

Note 11 - Accrued Expenses_ S72

Note 11 - Accrued Expenses: Schedule of Accrued Liabilities (Details) - USD ($)		12 Months Ended
		Sep. 30, 2015	Sep. 30, 2014
Details
Payments for Fees		$ 250,000
Broker expenses related to incomplete financing transactions		24,049
Other Expenses		38,999
Accrued expenses	[1]	$ 313,048	$ 57,419
[1]	Note 11

Note 12 - Asset Retirement Ob73

Note 12 - Asset Retirement Obligation: Schedule of Change in Asset Retirement Obligation (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Beginning balance	132,115	125,823
Accretion expense	$ 6,605	$ 6,292
Ending balance	138,720	132,115

Note 13 - Note Payable (Details

Note 13 - Note Payable (Details)	12 Months Ended
	Sep. 30, 2014USD ($)shares
Details
Notes Payable	$ 1,000,000
Interest Paid	$ 17,226
Common stock issued in exchange for cancellation of note payable to Wolfpack pursuant to acquisition, stock | shares	706,407

Note 14 - Income Taxes_ Sched75

Note 14 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Details
Deferred Tax Assets Exploration Costs	$ 971,000	$ 930,000
Deferred Tax Assets, Property, Plant and Equipment	109,000	30,000
Deferred Tax Assets, Investments	180,000	180,000
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost	2,127,000	2,106,000
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax	2,000	2,000
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	697,000	697,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	13,568,000	12,376,000
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	1,736,000	1,736,000
Deferred Tax Assets, Gross	19,390,000	18,057,000
Deferred Tax Assets, Valuation Allowance	(19,390,000)	(18,057,000)
Deferred Tax Assets, Net of Valuation Allowance	0	0
BH Minerals USA, Inc.
Deferred Tax Assets Property Plant Ad Equipment, Subsidiary	(3,810,000)	(3,812,000)
Deferred Tax Assets Exploration Costs, Subsidiary	2,468,000	2,693,000
Deferred Tax Assets Operating Loss Carryforward Domestic, Subsidiary	4,192,000	3,694,000
Deferred Tax Assets, Gross, Subsidiary	2,850,000	2,575,000
Deferred Tax Assets Valuation Allowance, Subsidiary	(2,850,000)	(2,575,000)
Deferred Tax Assets, Net, Subsidiary	$ 0	$ 0

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details) - USD ($)	Sep. 30, 2015	Sep. 30, 2014
Details
Deferred Tax Assets, Gross	$ 19,390,000	$ 18,057,000
Deferred Tax Assets, Gross	19,390,000	18,057,000
Deferred Tax Assets, Operating Loss Carryforwards	36,800,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	13,800,000
Deferred Tax Assets, Other Tax Carryforwards	6,700,000
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	697,000	$ 697,000
Deferred tax assets operating loss carryforward, restriction due to ownership change	240,000
Deferred tax assets operating loss carryforward, increase due to business combination	3,308,000
Deferred tax assets operating loss carryforward, limited by Section 382	$ 9,500,000

Note 14 - Income Taxes_ Sched77

Note 14 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Total net income (loss) before taxes	(4,372,448)	(2,731,541)
Statutory Federal income tax rate	35.00%	35.00%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (1,530,000)	$ (956,000)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	27,000	2,000
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	(105,000)	(128,000)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	1,608,000	1,082,000
INCOME TAX PROVISION	$ 0	$ 0

Note 15 - Common Stock, Warra78

Note 15 - Common Stock, Warrants and Preferred Stock (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2012
Stockholders' Equity, Reverse Stock Split	One-for-twelve Reverse Stock Split Effective October 31, 2014, our board of directors and stockholders approved a one-for-twelve reverse stock split of the Company’s common stock. After the reverse stock split, each holder of record held one share of common stock for every 12 shares held immediately prior to the effective date. As a result of the reverse stock split, the number of shares underlying outstanding stock options and warrants and the related exercise prices were adjusted to reflect the change in the share price and outstanding shares on the date of the reverse stock split. The effect of fractional shares was not material. Following the effective date of the reverse stock split, the par value of the common stock remained at $0.001 per share. As a result, we have reduced the common stock in the consolidated balance sheets and statement of changes in stockholders’ equity included herein on a retroactive basis for all periods presented, with a corresponding increase to additional paid-in capital. All share and per-share amounts and related disclosures have been retroactively adjusted for all periods presented to reflect the one-for-twelve reverse stock split.
Common Stock, Shares Authorized	200,000,000	200,000,000	100,000,000
Common Stock, Par Value	$ 0.001	$ 0.001	$ 0.001
Common stock issued, vendor		53,922
Common stock issued value, vendor		$ 110,000
Common stock issued, mineral claims		16,667
Common stock issued value, mineral claims		$ 40,000
Common stock issued, mineral claims		83,334
Common stock issued value, mineral claims		$ 80,000
Common stock issued stock, mineral claims	2,000,000
Common stock issued value, mineral claims	$ 1,200,000
Notes Payable		1,000,000
Interest Paid		$ 17,226
Common stock issued in exchange for cancellation of note payable to Wolfpack pursuant to acquisition, stock		706,407
Common stock issued for acquisition of Wolfpack Nevada, stock	2,871,265
Warrants and Rights Outstanding			$ 25,000
Common Stock Public Offering, warrants issued			12,500	12,500
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par Value	$ 0.01	$ 0.01
Waterton
Common stock issued for cash at $0.375 per share, stock	1,331,861
Sale of Stock, Price Per Share	$ 0.375
Common stock issued for cash at $0.375 per share	$ 499,448

Note 16 - Stock Options (Detail

Note 16 - Stock Options (Details)	12 Months Ended
	Sep. 30, 2015USD ($)shares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	399,189
Total | $	$ 125,909

Note 16 - Stock Options_ Sche80

Note 16 - Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Sep. 30, 2015$ / shares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	100.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	110.10%
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRateMinimum	100.93%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate	110.10%
Stock price on date of grant, minimum	$ 0.48
Stock price on date of grant, maximum	$ 0.74
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	1.06%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	0.83%
Sharebased Compensation Arrangement By Sharebased Payment Award FairValue Assumptions Expected Forfeiture Rate	0.00%

Note 16 - Stock Options_ Sche81

Note 16 - Stock Options: Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Details)	12 Months Ended
	Sep. 30, 2015USD ($)
Details
Compensation	$ 71,909
Other general and administrative expenses	54,000
Total	$ 125,909

Note 16 - Stock Options_ Sche82

Note 16 - Stock Options: Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2013
Details
Outstanding	533,778	203,334	439,292
Weighted Average Exercise Price, Exercisable	$ 2.48	$ 9.09	$ 7.56
Expired	(68,745)	(235,959)
Weighted Average Exercise Price, Expired	$ (10.56)	$ (6.14)
Exercisable	533,778	203,334
Weighted average fair value of options granted	$ 0.32	$ 0
Outstanding	533,778	203,334	439,292
Weighted Average Exercise Price, Exercisable	$ 2.48	$ 9.09	$ 7.56
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	399,189
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 5 months 8 days

Note 17 - Commitments (Details)

Note 17 - Commitments (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Maintenance fees, mineral exploration properties			$ 335,000
Operating Leases, Future Minimum Payments Due	$ 62,800
Lookout Mountain
Other Commitments, Description		A portion of our Lookout Mountain mineral claims are subject to a mining lease and agreement dated August 22, 2003 with Rocky Canyon Mining Company, as amended on June 1, 2008. The lease term was extended to 20 years on June 1, 2008, and thereafter for as long as minerals are mined on the project. Under this agreement we are obligated to make monthly advance royalty payments of $72,000 per annum.
Eureka
Other Commitments, Description		A portion of our Eureka mineral claims are subject to two mining lease with purchase option agreements dated July 12, 2012 with Silver International, Inc. The initial term of the agreement is five years and may be extended for an additional five years and annually as long as mining operations are being conducted. Under this agreement we are obligated to make annual advance royalty payments of $15,000 per annum. A portion of our Eureka mineral claims are subject to a mining claim lease agreement dated November 1, 2012 with four individuals. The initial term of the agreements is ten years and may be extended for an additional 20 years. Under these agreements we are obligated to make annual advance royalty payments of $12,000 per annum in 2015, increasing to $15,000 per annum in 2016 and thereafter.
Talapoosa
Other Commitments, Description		A portion of the Talapoosa mineral claims are subject to a mining lease and option to purchase agreement dated June 21, 2011 with Nevada Bighorns Unlimited Foundation. The initial term of the agreement is 20 years and may be extended for an additional 20 years and thereafter as long as minimum payments are being paid and exploration, development or mining activities are taking place. Under this agreement we are obligated to make annual minimum payments of $5.00 per acre ($6,400) through 2015, increasing by $5.00 per acre in 2016 and every five years thereafter. A portion of the Talapoosa mineral claims are subject to a mining lease with option to purchase agreement dated June 2, 1997 with Sario Livestock Company. The initial term of the agreement is 20 years and may be extended for an additional period of 20 years. Under this agreement we are obligated to make minimum royalty of $9,600 per annum. A portion of the Talapoosa mineral claims are subject to a mining lease dated July 14, 1990, as amended on August 25, 1998, and July 13, 2010 with Sierra Denali Minerals Inc.. The term of the agreement, as amended, is 10 years and may be extended for two additional periods of five years. Under this amended agreement we are obligated to make minimum payments of $35,000 per annum.
Knight
Other Commitments, Description		During the year ended September 30, 2013, we announced that we had entered into a Lease and Option-to-Purchase Agreement (the 'Knight Agreement') to evaluate, explore, and develop a package of mineral claims in Nevada comprised of six separate properties, including the Iron Butte Project. Annual advance royalty payments of $25,000 commenced under the Knight Agreement in March 2015. In order to continue exploration of the properties subject to the Knight Agreement, we were required to issue 83,334 shares of our common stock in September 2014 (which were issued in October 2014 upon approval for listing by the NYSE MKT) and 125,000 shares of our common stock in March 2016. We also held an option to purchase the claims for $2,000,000, in addition to the share issuances described above, on or before March 2017. The Knight Agreement did not require any annual work commitments, and provided us with a first right of refusal on certain other Nevada properties controlled by Mr. Knight and currently under lease to third parties. During the year ended September 30, 2015, we terminated the Knight Agreement and returned the properties to the underlying owner.
Federal and county claim maintenance fees
Other Commitments, Description		We pay federal and county claim maintenance fees on several of our mineral exploration properties. The total of these fees was approximately $300,000 and $335,000 as of September 30, 2015 and 2014, respectively. Should we continue to explore all of our mineral properties we expect annual fees to total approximately $200,000 per year in the future.
Maintenance fees, mineral exploration properties		$ 300,000
Expected annual fees, mineral exploration properties	$ 200,000

Note 17 - Commitments_ Schedu84

Note 17 - Commitments: Schedule of Rent Expense (Details) - USD ($)	12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Details
Results of Operations Exploration Expense Mining	$ 39,900	$ 15,600
Other General and Administrative Expense	42,000	47,500
Operating Leases, Rent Expense	$ 81,900	$ 63,100

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details) - Stock options and the stock units - $ / shares	Oct. 06, 2015	Sep. 30, 2015
Subsequent Event, Description		On October 6, 2015, we granted 43,837 stock options and 675,000 stock units to certain employees pursuant to the Timberline 2015 Stock and Incentive Plan. The stock options and the stock units vested immediately. The term of the options is five years, and the exercise price of the options is $0.50, which is the closing price of our common stock as quoted on the NYSE MKT on the date of grant.
Stock Options Granted	43,837
Stock Units Granted	675,000
Exercise Price	$ 0.50