Timberline Resources (TLRS) 10-Q 14 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 10, 2019
Details
Registrant CIK	0001288750
Fiscal Year End	--09-30
Registrant Name	Timberline Resources Corp
SEC Form	10-Q
Period End date	Jun. 30, 2019
Trading Symbol	TLRS
Trading Exchange	NONE
Tax Identification Number (TIN)	82-0291227
Number of common stock shares outstanding		64,027,819
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Entity File Number	001-34055
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	101 EAST LAKESIDE AVENUE
Entity Address, City or Town	COEUR D’ALENE
Entity Address, State or Province	ID
Entity Address, Postal Zip Code	83814
City Area Code	208
Local Phone Number	664-4859
Title of 12(b) Security	Common Stock, $0.001 par value
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false

Timberline Resources Corp and S

Timberline Resources Corp and Subsidiaries Consolidated Balance Sheets (Unaudited) - USD ($)		Jun. 30, 2019	Sep. 30, 2018
CURRENT ASSETS:
Cash		$ 114,322	$ 110,736
Prepaid expenses and other current assets		44,098	44,782
TOTAL CURRENT ASSETS		158,420	155,518
PROPERTY, MINERAL RIGHTS AND EQUIPMENT, net		15,079,636	14,926,417
OTHER ASSETS:
Reclamation bonds		307,286	307,286
Deposits and other assets		5,700	5,700
TOTAL OTHER ASSETS		312,986	312,986
TOTAL ASSETS		15,551,042	15,394,921
CURRENT LIABILITIES:
Accounts payable		144,235	110,134
Accrued expenses		100,665	42,166
Accrued payroll, benefits and taxes		61,057	32,295
Senior unsecured note payable - net of discount		255,709	0
TOTAL CURRENT LIABILITIES		561,666	184,595
LONG-TERM LIABILITIES:
Asset retirement obligation		166,587	160,588
Payment obligation		178,533	198,806
Senior unsecured note payable - net of discount		161,874	196,432
TOTAL LONG-TERM LIABILITIES		506,994	555,826
COMMITMENTS AND CONTINGENCIES (Notes 7)	[1]	0	0
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares issued and outstanding		0	0
Common stock, $0.001 par value; 200,000,000 shares authorized, 64,027,819 and 53,527,819 shares issued and outstanding, respectively		64,028	53,528
Additional paid-in capital		74,302,230	73,197,430
Accumulated deficit		(59,883,876)	(58,596,458)
TOTAL STOCKHOLDERS' EQUITY		14,482,382	14,654,500
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 15,551,042	$ 15,394,921
[1]	Note 7

Timberline Resources Corp and_2

Timberline Resources Corp and Subsidiaries Consolidated Balance Sheets (Unaudited) - Parenthetical - $ / shares	Jun. 30, 2019	Sep. 30, 2018
Details
Preferred Stock, Par or Stated Value Per Share	$ 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 or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	64,027,819	53,527,819
Common Stock, Shares, Outstanding	64,027,819	53,527,819

Timberline Resources Corp and_3

Timberline Resources Corp and Subsidiaries Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
OPERATING EXPENSES:
Mineral exploration	$ 312,960	$ 22,891	$ 612,987	$ 70,159
Abandonment of mineral rights	0	0	0	3,231,700
Salaries and benefits	49,326	89,044	120,987	403,564
Professional fees	56,924	27,662	219,456	128,233
Insurance expense	21,961	22,760	70,008	69,996
Other general and administrative	30,592	162,066	137,969	450,158
TOTAL OPERATING EXPENSES	471,763	324,423	1,161,407	4,353,810
LOSS FROM OPERATIONS	(471,763)	(324,423)	(1,161,407)	(4,353,810)
OTHER INCOME (EXPENSE):
Foreign exchange gain (loss)	(64)	(884)	688	(973)
Interest expense	(48,018)	(4,011)	(126,710)	(14,125)
Miscellaneous other income	4	0	11	14,633
TOTAL OTHER INCOME (EXPENSE)	(48,078)	(4,895)	(126,011)	(465)
LOSS BEFORE INCOME TAXES	(519,841)	(329,318)	(1,287,418)	(4,354,275)
INCOME TAX PROVISION (BENEFIT)	0	0	0	0
NET LOSS	$ (519,841)	$ (329,318)	$ (1,287,418)	$ (4,354,275)
NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS, BASIC AND DILUTED	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.12)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	61,511,335	40,478.368	61,172,171	37,023,636

Timberline Resources Corp and_4

Timberline Resources Corp and Subsidiaries Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance at Sep. 30, 2017	$ 33,147	$ 70,408,144	$ (53,538,664)	$ 16,902,627
Equity balance, shares at Sep. 30, 2017	33,146,952
Common stock and warrants issued for cash	$ 2,881	861,379	0	864,260
Common stock and warrants issued for cash	2,880,867
Issuance costs	$ 0	(42,493)	0	(42,493)
Stock based compensation	0	15,000	0	15,000
Net loss	$ 0	0	(329,162)	(329,162)
Equity balance, shares at Dec. 31, 2017	36,027,819
Equity Balance at Dec. 31, 2017	$ 36,028	71,242,030	(53,867,826)	17,410,232
Equity Balance at Sep. 30, 2017	$ 33,147	70,408,144	(53,538,664)	16,902,627
Equity balance, shares at Sep. 30, 2017	33,146,952
Stock based compensation	$ 0	192,000	0	192,000
Net loss	$ 0	0	(3,695,795)	(3,695,795)
Equity balance, shares at Mar. 31, 2018	36,027,819
Equity Balance at Mar. 31, 2018	$ 36,028	71,434,030	(57,563,621)	13,906,437
Stock based compensation	0	16,000	0	16,000
Common stock and warrants issued for cash	$ 7,500	592,500	0	600,000
Common stock and warrants issued for cash	7,500,000
Net loss	$ 0	0	(329,318)	(329,318)
Equity balance, shares at Jun. 30, 2018	43,527,819
Equity Balance at Jun. 30, 2018	$ 43,528	72,042,530	(57,892,939)	14,193,119
Equity Balance at Sep. 30, 2018	$ 53,528	73,197,430	(58,596,458)	14,654,500
Equity balance, shares at Sep. 30, 2018	53,527,819
Common stock and warrants issued for cash	$ 7,500	592,500	0	600,000
Common stock and warrants issued for cash	7,500,000
Stock based compensation	$ 0	5,000	0	5,000
Warrants issued for joint venture to AGEI	0	176,000	0	176,000
Net loss	$ 0	0	(549,653)	(549,653)
Equity balance, shares at Dec. 31, 2018	61,027,819
Equity Balance at Dec. 31, 2018	$ 61,028	73,970,930	(59,146,111)	14,885,847
Equity Balance at Sep. 30, 2018	$ 53,528	73,197,430	(58,596,458)	14,654,500
Equity balance, shares at Sep. 30, 2018	53,527,819
Common stock and warrants issued for cash	$ 2,000	158,000	0	160,000
Common stock and warrants issued for cash	2,000,000
Net loss	$ 0	0	(217,924)	(217,924)
Equity balance, shares at Mar. 31, 2019	63,027,819
Equity Balance at Mar. 31, 2019	$ 63,028	74,128,930	(59,364,035)	14,827,923
Common stock and warrants issued for cash	$ 1,000	79,000	0	80,000
Common stock and warrants issued for cash	1,000,000
Warrants issued with debt	$ 0	94,300	0	94,300
Net loss	$ 0	0	(519,841)	(519,841)
Equity balance, shares at Jun. 30, 2019	64,027,819
Equity Balance at Jun. 30, 2019	$ 64,028	$ 74,302,230	$ (59,883,876)	$ 14,482,382

Timberline Resources Corp and_5

Timberline Resources Corp and Subsidiaries Consoldiated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,287,418)	$ (4,354,275)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock based compensation	5,000	223,000
Abandonment of mineral properties	0	3,231,700
Accretion of asset retirement obligation	5,999	5,713
Amortization of debt discount	65,451	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	683	(246,364)
Deposits and other assets	0	4,050
Accounts receivable	0	2,633
Accounts payable	34,101	(62,662)
Accrued expenses	58,499	(1,984)
Accrued payroll, benefits and taxes	28,762	(52,038)
Net cash used by operating activities	(1,088,923)	(1,250,227)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, mineral rights and equipment	(54,000)	(71,500)
Proceeds from sale of property	0	100,000
Proceeds from lease of property	76,782	87,424
Net cash provided by investing activities	22,782	115,924
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of units, net	840,000	1,421,767
Cash paid on payment obligation	(20,273)	(51,194)
Proceeds from senior unsecured notes payable and warrants	250,000	0
Net cash provided by financing activities	1,069,727	1,370,573
Net increase (decrease) in cash and cash equivalents	3,586	236,270
CASH AT BEGINNING OF PERIOD	110,736	67,154
CASH AT END OF PERIOD	114,322	303,424
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Warrants issued for purchase of mineral properties	176,000	0
Warrants issued with debt financing	$ 94,300	$ 0

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	9 Months Ended
	Jun. 30, 2019
Notes
Note 1 - Organization and Description of Business:	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS: Timberline Resources Corporation (“Timberline” or “the Company) 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 2008, the Company reincorporated into the State of Delaware, pursuant to a merger agreement approved by its shareholders. Basis of Presentation -

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Jun. 30, 2019
Notes
Note 2 - Summary of Significant Accounting Policies:	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: This summary of significant accounting policies is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to GAAP and have been consistently applied in the preparation of the financial statements. 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. New Accounting Pronouncements - In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation, Improvements to Nonemployee Share-Based Payment Accounting. ASU No. 2018-07 expands the scope of Accounting Standards Codification (ASC) 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The update is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. c. Principles of Consolidation d. Reclassifications e. Royalties f. Exploration Expenditures g. Property Holding Costs h. Fair Value of Financial Instruments At June 30, 2019 and September 30, 2018, the Company had no assets or liabilities accounted for at fair value on a recurring basis or nonrecurring basis. The carrying amounts of financial instruments, including senior unsecured notes payable, approximate fair value at June 30, 2019 and September 30, 2018. i. Cash Equivalents j. Reclamation Bonds k. Estimates and Assumptions l. Property and Equipment . m. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment n. Asset Retirement Obligations – o. Provision for Income Taxes p. Translation of Foreign Currencies q. Stock-based Compensation The value of common stock awards is determined based upon the closing price of the Company’s stock on the grant date of the award. Compensation expense for grants that vest is recognized ratably over the vesting period. The fair value of stock unit or stock awards is determined by the closing price of the Company’s common stock on the date of the grant. r. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of June 30, 2019 and 2018 is as follows: June 30, 2019 June 30, 2018 Stock options 3,280,000 3,180,000 Warrants 45,489,967 28,340,873 Total potential dilution 48,769,967 31,520,873 At June 30, 2019 and 2018, the effect of the Company’s common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

Note 3 - Property, Mineral Righ

Note 3 - Property, Mineral Rights, and Equipment	9 Months Ended
	Jun. 30, 2019
Notes
Note 3 - Property, Mineral Rights, and Equipment:	NOTE 3 – PROPERTY, MINERAL RIGHTS, AND EQUIPMENT: The following is a summary of property, mineral rights, and equipment and accumulated depreciation at June 30, 2019 and September 30, 2018, respectively: Expected Useful Lives (years) June 30, 2019 September 30, 2018 Mineral rights – Eureka - $ 13,656,159 $ 13,678,940 Mineral rights – Elder Creek - 1,322,000 1,146,000 Mineral rights – Other - 50,000 50,000 Total mineral rights 15,028,159 14,874,940 Equipment and vehicles 2-5 53,678 53,678 Office equipment and furniture 3-7 70,150 70,150 Land - 51,477 51,477 Total property and equipment 175,305 175,305 Less accumulated depreciation (123,828) (123,828) Property, mineral rights, and equipment, net $ 15,079,636 $ 14,926,417 Depreciation expense for the three- and nine-month periods ended June 30, 2019 and 2018, was nil and nil, respectively. During the year ended September 30, 2018, the Company’s management and Board of Directors determined that certain payments received by the Company from a party of interest in two of the Company’s leases beginning in August 2017, which had been held and not recorded as royalty income or deposited pending an expected resolution of circumstances relating to two historic leases at the Company’s Eureka property, should be deposited. The payments had been received from a third party with whom the Company is in discussions to resolve matters that had been under negotiation since the Company acquired the Eureka property in 2010. The total amount of these payments received for the quarter ended June 30, 2019 were $25,664 and $76,782 for the nine-month period ended June 30, 2019. Monthly payments in the amount of approximately $8,500 are expected to continue to be received, recorded and deposited until the situation concerning the leases is resolved. These receipts are recorded as a reduction to property, mineral rights, and equipment. Elder Creek property: On May 23, 2018, the Company executed a definitive agreement with AGEI (the “Definitive Agreement”) for the purchase of interests in two mineral properties in Nevada (the “Transaction”). The mineral properties include the Elder Creek project, currently owned by McEwen Mining Inc., which includes an option to acquire up to 65% of the project interest, and an approximate 73.7% interest in the Paiute property (formerly ICBM), with LAC Minerals (USA) LLC, a wholly owned subsidiary of Barrick Gold Corporation. The Company is the operator at both of these projects. The consideration for the Transaction consisted of ten million shares of the Company’s common stock, valued at $0.0806 per share, or $806,000, and five million non-transferrable Class D-2 share purchase warrants, with each warrant exercisable to acquire one share of the Company’s common stock for $0.24 for a period of three years. The warrants were fair valued at $240,000 on the transaction date. On June 18, 2018, the Company entered into an amendment to the Definitive Agreement wherein the Company agreed, upon closing of the Transaction, to reimburse AGEI for the initial payment of $100,000 due under the Elder Creek agreement with McEwen Mining. During the fourth quarter of the 2018 fiscal year, the Company paid the $100,000. Total consideration given during the year ended September 30, 2018 for the Transaction was $1,146,000 in the form of cash, common stock and warrants. In addition, the amendment to the Definitive Agreement required the Company to deliver to AGEI, subject to any required regulatory approval, an additional 5,000,000 common stock purchase warrants with the same terms and in the same form as the Consideration Warrants if and when the earlier of the following occurs: (i) the Company enters into an arrangement with a funding partner for the advancement of the Elder Creek Joint Venture, or (ii) the Company met the 2018 work commitment of $500,000. The Company met the 2018 work commitment, and issued 5,000,000 Class G warrants, fair valued at $176,000 on the date the commitment was satisfied. (See Note 7 for valuation assumptions). Joint Venture on Lookout Mountain Gold Project: On May 9, 2019, the Company entered into a non-binding Letter of Intent to form a joint venture (the “Agreement”) with PM & Gold Mines, Inc. (“PM&G”) for the advanced exploration, and if determined feasible, the development of the Company’s Lookout Mountain Gold project, located on the southern end of the Battle Mountain-Eureka Trend near Eureka, Nevada. A final Agreement received regulatory approval from the TSX Venture Exchange on July 27, 2019, subsequent to the close of the quarter ended June 30, 2019. PM&G is a private firm incorporated in Nevada with an interest to explore and advance gold projects to production. The parties executed a binding definitive joint venture agreement (the “Definitive Agreement”) on July 3, 2019 following completion of business and technical due diligence. The Definitive Agreement calls for the Company’s partner PM&G to fund exploration and development activities in two stages for earned equity in the project. Timberline will contribute the claims that constitute the Lookout Mountain project and adjacent historic Oswego Mine area (the “Project”) to the joint venture company in exchange for its ownership position. Timberline will manage the joint venture at least through Stage I of investment. PM&G shall retain the right to manage all Stage II activities with or without Timberline’s participation. Subsequent to June 30, 2019, and concurrent with completion of the Agreement, PM&G also participated in investment in a private placement in Timberline at an above-market price to acquire 4.99% of Timberline’s common shares. The placement will include the right of PM&G to maintain its position in Timberline by pro-rata participation in future financings and includes a full warrant for a period of 3 years. Stage I – Earn 51%: Stage II – Earn 70%: Timberline Option to Participate 51- 49%: – When the $6 million expenditure is reached (Stage I), Timberline has the option to participate in subsequent expenditures at the 49% level. Should Timberline determine to participate, all future costs incurred to bring the Project to production will be split on a pro-rata basis. If Timberline should choose not to participate, the Company will be further diluted and PM&G will earn 70% ownership by completing the above activities defined as Stage II. Timberline Option to Participate 70 – 30%: Reduce its interest to a 10% net profit interest (“NPI”) or a 2% net smelter royalty (“NSR”), or Sell its remaining interest in the Project to PM&G at a price agreed between the parties following completion and evaluation of Stage I and Stage II exploration, per terms of the Mutual Right of First Refusal (“ROFR”) defined below. If PM&G determines not to advance beyond the 51% following completion of Stage I, it may elect one of the following options: · · · Mutual Right of First Refusal (ROFR) –

Note 4 - Related-party Transact

Note 4 - Related-party Transactions	9 Months Ended
	Jun. 30, 2019
Notes
Note 4 - Related-party Transactions:	NOTE 4 – RELATED-PARTY TRANSACTIONS: In connection with the Definitive Agreement with AGEI for the purchase of two joint venture interests during the fiscal year ended September 30 2018, Mr. Donald J. McDowell and Mr. Dave Mathewson were appointed to the Company’s Board of Directors on June 21, 2018. Mr. McDowell is the majority owner of AGEI and is the beneficial owner of the majority of the consideration for the Transaction. Therefore, he is the beneficial owner of the majority of the 5,000,000 Class G warrants issued to AGEI as described in Note 3 – Property, Mineral Rights and Equipment. During the quarter ended December 31, 2018, the Board of Directors agreed to issue 100,000 stock options to acquire shares of common stock of the Company to Mr. Ted R. Sharp, the Company’s Chief Financial Officer, appointed to the position in September of 2018. The options were fair valued at $5,000 based upon the closing price of the Company’s shares of common stock at December 31, 2018 (See Note 7 for valuation assumptions). During the quarter ended December 31, 2018, two executive officers participated in a private placement offering of Units of the Company, purchasing 1,062,500 units for total proceeds of $85,000. Each Unit was priced at $0.08 and consisted of one share of common stock of the Company and one common share Class E Warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until April 30, 2021. During the quarters ended March 31, 2019 and June 30, 2019, three executive officers participated in private placement offerings of Units of the Company, purchasing 1,100,000 units for total proceeds of $88,000. Each Unit was priced at $0.08 and consisted of one share of common stock of the Company and one common share Class H Warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until March 22, 2022. The participation of the executive officers of the Company in these private placements was done at the same terms as the other investors in the private placement offerings. The Board of Directors approved the insiders’ participation in the private placements.

Note 5 - Payment Obligation

Note 5 - Payment Obligation	9 Months Ended
	Jun. 30, 2019
Notes
Note 5 - Payment Obligation:	NOTE 5 – PAYMENT OBLIGATION: On September 12, 2017, the Company entered into an agreement (the “Payment Agreement”) with a creditor (the “Creditor”) to pay by way of a payment plan an existing obligation of $250,000 (the “Payment Obligation”) related to a potential corporate transaction in 2015 that was not completed. Pursuant to the Payment Agreement, the Company agreed to pay the Payment Obligation to the Creditor, including interest, on or before September 12, 2020. Interest accrues on the unpaid principal amount of the Payment Obligation at the Wells Fargo Bank prime rate (5.25% at June 30, 2019), as such rate may change from time to time, plus 3% per annum. The Company agreed to pay the Creditor 5% of the gross proceeds of any funds raised, whether through equity sales, borrowings or sales of assets. If the gross proceeds of any equity financing are at least $1 million, then the Company agreed to also commence monthly installment payments of $10,000 until the Payment Obligation is paid. During the quarter and nine months ended June 30, 2019, the Company paid $30,000 (5% of the $600,000 private placement) to the Creditor, which included $9,727 of interest. The balance of the Payment Obligation at June 30, 2019 and September 30, 2018 was $178,533 and $198,806, respectively. At June 30, 2019, an additional $4,000 is due and payable (5% of the $80,000 private placement) to the Creditor, which will be applied to accrued interest payable when paid.

Note 6 - Senior Unsecured Note

Note 6 - Senior Unsecured Note Payable	9 Months Ended
	Jun. 30, 2019
Notes
Note 6 - Senior Unsecured Note Payable:	NOTE 6 – SENIOR UNSECURED NOTE PAYABLE: On July 30, 2018, the Company entered into a binding loan agreement and promissory note with William Matlack (the “Lender”). Under the loan agreement, the Lender loaned the Company $300,000 in the form of a senior unsecured note, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and the principal and accrued interest will become due for repayment on January 20, 2020, but may be repaid early without penalty. Pursuant to the terms of the loan agreement, the Company issued to the Lender 3,265,500 non-transferrable Series F Warrants to purchase common shares of the Company. The exercise price of the warrants is $0.09, and the warrants contain a provision restricting their exercise in the event any such exercise would cause the Lender to own 10% or more of the Company’s outstanding common shares. The relative fair value of the warrants issued in connection with the senior unsecured note was estimated at $110,900, based upon a total fair value as calculated by a Black-Scholes option-pricing model. The relative fair value of the warrants was recorded as a discount of the note, with $19,462 amortized to interest expense in the quarter ended June 30, 2019 and $59,277 for the nine months ended June 30, 2019. At June 30, 2019, the note payable was $255,709, net of the unamortized discount of $44,291. On May 8, 2019, the Company entered into an additional binding loan agreement and promissory note with William Matlack. Under the loan agreement, the Lender loaned the Company $250,000 in the form of a senior unsecured note, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and the principal and accrued interest will become due for repayment on November 7, 2020, but may be repaid early without penalty. Pursuant to the terms of the loan agreement, the Company issued to the Lender 3,543,600 non-transferrable Series I Warrants to purchase common shares of the Company. The exercise price of the warrants is $0.07, with a term of eighteen months, and the warrants contain a provision restricting their exercise in the event any such exercise would cause the Lender to own 10% or more of the Company’s outstanding common shares. The relative fair value of the warrants issued in connection with the senior unsecured note was estimated at $94,300, based upon a total fair value as calculated by a Black-Scholes option-pricing model. The relative fair value of the warrants was recorded as a discount of the note, with $6,174 amortized to interest expense in the quarter and nine months ended June 30, 2019. At June 30, 2019, the note payable was $161,874, net of the unamortized discount of $88,126.

Note 7 - Common Stock, Warrants

Note 7 - Common Stock, Warrants and Preferred Stock	9 Months Ended
	Jun. 30, 2019
Notes
Note 7 - Common Stock, Warrants and Preferred Stock:	NOTE 7 – COMMON STOCK, WARRANTS AND PREFERRED STOCK: Common Shares - Private Placement On October 18, 2018, and on December 3, 2018, the Company closed two tranches of On March 29, 2019, the Company closed the sale of 2,000,000 Units, the first tranche of a private placement offering of up to 7,500,000 Units of the Company at a price of US$0.08 per Unit, for total proceeds of $160,000. Each Unit of the offering consists of one share of common stock of the Company and one common share purchase Class H warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of US$0.14 per share until March 30, 2022. As a result, 2,000,000 shares of the Company’s common stock and 2,000,000 Warrants were issued. On June 14, 2019, the Company closed the sale of 1,000,000 Units, the second tranche of a private placement offering of up to 7,500,000 Units of the Company at a price of $0.08 per Unit, for total proceeds of $80,000. Each Unit of the offering consists of one share of common stock of the Company and one common share purchase Class H warrant, with each warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.14 per share until March 30, 2022. As a result, 1,000,000 shares of the Company’s common stock and 1,000,000 Warrants were issued. Warrants During the nine-month period ended June 30, 2019, 18,843,600 warrants were issued, 7,500,000, 2,000,000 and 800,000 pursuant to the private placement offerings, 3,543,600 issued pursuant to the Senior unsecured note payable, and another 5,000,000 warrants issued to AGEI under the terms of the Elder Creek purchase of mineral rights (See Note 3). The fair value of the 5,000,000 warrants issued in connection with the purchase of mineral rights was estimated at $176,000 on the date of issuance. The fair value of the 3,543,600 warrants issued with a Senior unsecured note payable was $151,400 (with a relative fair value of $94,300) on the date of issuance. The fair value of warrants was determined with a Black-Scholes option-pricing model. The assumptions used to calculate fair values are noted in the following table: Warrants Issued During the Nine Months Ended June 30, 2019 Expected volatility 137.4 % - 138.5 % Stock price on date of grant $ 0.06 - $ 0.07 Exercise price $ 0.07 - $ 0.24 Expected dividends - Expected term (in years) 1.5 - 3 Risk-free rate 2.26 % – 2.46 % Expected forfeiture rate 0 % On May 31, 2019, 9,960,006 3-year Class A warrants expired. There were 45,489,967 and 36,606,373 warrants outstanding as of June 30, 2019 and September 30, 2018, respectively. The warrants expire from January 31, 2020 through March 22, 2022. The weighted average exercise price was $0.21 and $0.26 as of June 30, 2019 and September 30, 2018, respectively. Preferred Stock The Company is authorized to issue up to 10,000,000 shares of preferred stock, $0.01 par value. The Company’s 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. There is no preferred stock issued as of June 30, 2019.

Note 8 - Stock-based Awards

Note 8 - Stock-based Awards	9 Months Ended
	Jun. 30, 2019
Notes
Note 8 - Stock-based Awards:	NOTE 8 – STOCK-BASED AWARDS: During the quarter ended December 31, 2018, the Company’s shareholders approved and the Company’s Board of Directors adopted of the Company’s 2018 Stock and Incentive Plan. This plan replaced the Company’s 2015 Equity Incentive Plan. The aggregate number of shares that may be issued to employees, directors, and consultants under all stock-based awards made under the 2018 Stock and Incentive Plan is 8 million shares of the Company’s common stock. Upon exercise of options or other awards, 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 the Company’s stock at the date of grant. During the quarter ended December 31, 2018, the Board of Directors agreed to issue 100,000 stock options to the Chief Financial Officer. The fair value of the option awards granted during the quarter ended December 31, 2018 was $5,000 and measured on the date of the issuance with a Black-Scholes option-pricing model using the assumptions noted in the following table: Option Obligation Matured During Quarter Ended December 31, 2018 Expected volatility 137.4% Stock price on date of grant $ 0.06 Exercise price $ 0.10 Expected dividends - Expected term (in years) 5 Risk-free rate 2.46 % Expected forfeiture rate 0 % During the nine-month period ended June 30, 2019, 100,000 options were terminated as a result of the resignation of a member of the Board of Directors. The following is a summary of options issued and outstanding at June 30, 2018: 2018 Options Weighted Average Exercise Price Outstanding at September 30, 2017 2,233,334 $ 0.41 Issued 1,900,000 0.16 Expired (853,334) (0.43) Outstanding and exercisable at June 30, 2018 3,280,000 $ 0.26 Average remaining contractual term of options outstanding and exercisable at June 30, 2018 (years) 3.74 The aggregate of options exercisable as of June 30, 2018 had an intrinsic value of nil, based on the closing price of $0.17 per share of the Company’s common stock on June 30, 2018. The following is a summary of options issued and outstanding at June 30, 2019: 2019 Options Weighted Average Exercise Price Outstanding at September 30, 2018 3,280,000 $ 0.26 Issued 100,000 0.10 Terminated (100,000) (0.10) Outstanding and exercisable at June 30, 2019 3,280,000 $ 0.26 Average remaining contractual term of options outstanding and exercisable at June 30, 2019 (years) 3.26 The aggregate of options exercisable as of June 30, 2019 had an intrinsic value of nil, based on the closing price of $0.08 per share of the Company’s common stock on June 28, 2019.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Jun. 30, 2019
Notes
Note 9 - Commitments and Contingencies:	NOTE 9 – COMMITMENTS AND CONTINGENCIES : Mineral Exploration A portion of the Company’s mining claims on the Company’s properties are subject to lease and option agreements with various terms, obligations, and royalties payable in certain circumstances. The Company pays federal and county claim maintenance fees on unpatented claims that are included in the Company’s mineral exploration properties. Should the Company continue to explore all of the Company’s mineral properties, it expects annual fees to total approximately $255,500 per year in the future, of which $105,778 is for the two joint venture mineral property interests (See Note 3). Real Estate Lease Commitments As of June 30, 2019, the Company has real estate lease commitments for certain mineral properties totaling $82,000. The Company’s office in Coeur d’Alene, Idaho and its facilities in Eureka, Nevada are rented on a month-to-month basis. Lease expense for mineral exploration and real estate lease expense is included in the following line items in the Consolidated Balance Sheets and Consolidated Statements of Operations: Three months ended June 30, Nine months ended June 30, 2019 2018 2019 2018 Mineral property purchases $ 18,000 $ 18,000 $ 36,000 $ 36,000 Mineral exploration expenses 3,900 6,900 7,800 32,700 Other general and administrative expenses 10,500 10,500 21,000 31,500 Total $ 32,400 $ 35,400 $ 64,800 $ 100,200

Note 10 - Subsequent Events

Note 10 - Subsequent Events	9 Months Ended
	Jun. 30, 2019
Notes
Note 10 - Subsequent Events:	NOTE 10 – SUBSEQUENT EVENTS : On July 11, 2019, the Company entered into the Definitive Agreement to form the joint venture with PM & Gold Mines, Inc. (“PM&G” and together with Timberline, the “JV Partners”) whereby the JV Partners formed a limited liability company to conduct operations on the Company’s Lookout Mountain Project in Nevada (the “Project”) pursuant to a limited liability company agreement (the “Agreement”). Pursuant to the Agreement, PM&G can earn an initial 51% interest in the project, which is located on the southern end of the Battle Mountain-Eureka Trend, by expending $6 million on exploration and development over a 2-year period. In connection with the Agreement as approved by the TSX Venture Exchange, further to Timberline’s February 8, 2019 news release announcing a $500,000 non-brokered private placement of Timberline units at a price of $0.08 per unit (the “Offering”), PM&G has subscribed for a 4.99% ownership position in the Company under the Offering. Pursuant to additional Offering subscriptions received, the Company closed the Offering on a fully subscribed basis following TSX Venture Exchange approval of the Offering and Agreement. Total shares issued under the Agreement was 3,367,441, with a like number of warrants, for cash proceeds of $269,395.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies: a. Going Concern (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
a. Going Concern	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.

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies: b. New Accounting Pronouncements (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
b. New Accounting Pronouncements	b. New Accounting Pronouncements - In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation, Improvements to Nonemployee Share-Based Payment Accounting. ASU No. 2018-07 expands the scope of Accounting Standards Codification (ASC) 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The update is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies: c. Principles of Consolidation (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
c. Principles of Consolidation	c. Principles of Consolidation

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies: d. Reclassifications (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
d. Reclassifications	d. Reclassifications

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies: e. Royalities (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
e. Royalities	e. Royalties

Note 2 - Summary of Significa_7

Note 2 - Summary of Significant Accounting Policies: f. Exploration Expenditures (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
f. Exploration Expenditures	f. Exploration Expenditures

Note 2 - Summary of Significa_8

Note 2 - Summary of Significant Accounting Policies: g. Property Holding Costs (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
g. Property Holding Costs	g. Property Holding Costs

Note 2 - Summary of Significa_9

Note 2 - Summary of Significant Accounting Policies: h. Fair Value of Financial Instruments (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
h. Fair Value of Financial Instruments	h. Fair Value of Financial Instruments At June 30, 2019 and September 30, 2018, the Company had no assets or liabilities accounted for at fair value on a recurring basis or nonrecurring basis. The carrying amounts of financial instruments, including senior unsecured notes payable, approximate fair value at June 30, 2019 and September 30, 2018.

Note 2 - Summary of Signific_10

Note 2 - Summary of Significant Accounting Policies: i. Cash Equivalents (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
i. Cash Equivalents	i. Cash Equivalents

Note 2 - Summary of Signific_11

Note 2 - Summary of Significant Accounting Policies: j. Reclamation Bonds (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
j. Reclamation Bonds	j. Reclamation Bonds

Note 2 - Summary of Signific_12

Note 2 - Summary of Significant Accounting Policies: k. Estimates and Assumptions (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
k. Estimates and Assumptions	k. Estimates and Assumptions

Note 2 - Summary of Signific_13

Note 2 - Summary of Significant Accounting Policies: l. Property and Equipment (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
l. Property and Equipment	l. Property and Equipment

Note 2 - Summary of Signific_14

Note 2 - Summary of Significant Accounting Policies: m. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
m. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment	m. Review of Carrying Value of Property, Mineral Rights and Equipment for Impairment

Note 2 - Summary of Signific_15

Note 2 - Summary of Significant Accounting Policies: n. Asset Retirement Obligations (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
n. Asset Retirement Obligations	n. Asset Retirement Obligations –

Note 2 - Summary of Signific_16

Note 2 - Summary of Significant Accounting Policies: o. Provision for Income Taxes (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
o. Provision for Income Taxes	o. Provision for Income Taxes

Note 2 - Summary of Signific_17

Note 2 - Summary of Significant Accounting Policies: p. Translation of Foreign Currencies (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
p. Translation of Foreign Currencies	p. Translation of Foreign Currencies

Note 2 - Summary of Signific_18

Note 2 - Summary of Significant Accounting Policies: q. Stock-based Compensation (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
q. Stock-based Compensation	q. Stock-based Compensation The value of common stock awards is determined based upon the closing price of the Company’s stock on the grant date of the award. Compensation expense for grants that vest is recognized ratably over the vesting period. The fair value of stock unit or stock awards is determined by the closing price of the Company’s common stock on the date of the grant.

Note 2 - Summary of Signific_19

Note 2 - Summary of Significant Accounting Policies: r. Net Income (Loss) per Share (Policies)	9 Months Ended
	Jun. 30, 2019
Policies
r. Net Income (Loss) per Share	r. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of June 30, 2019 and 2018 is as follows: June 30, 2019 June 30, 2018 Stock options 3,280,000 3,180,000 Warrants 45,489,967 28,340,873 Total potential dilution 48,769,967 31,520,873 At June 30, 2019 and 2018, the effect of the Company’s common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

Note 2 - Summary of Signific_20

Note 2 - Summary of Significant Accounting Policies: r. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	June 30, 2019 June 30, 2018 Stock options 3,280,000 3,180,000 Warrants 45,489,967 28,340,873 Total potential dilution 48,769,967 31,520,873

Note 3 - Property, Mineral Ri_2

Note 3 - Property, Mineral Rights, and Equipment: Property, Plant and Equipment (Tables)	9 Months Ended
	Jun. 30, 2019
Tables/Schedules
Property, Plant and Equipment	Expected Useful Lives (years) June 30, 2019 September 30, 2018 Mineral rights – Eureka - $ 13,656,159 $ 13,678,940 Mineral rights – Elder Creek - 1,322,000 1,146,000 Mineral rights – Other - 50,000 50,000 Total mineral rights 15,028,159 14,874,940 Equipment and vehicles 2-5 53,678 53,678 Office equipment and furniture 3-7 70,150 70,150 Land - 51,477 51,477 Total property and equipment 175,305 175,305 Less accumulated depreciation (123,828) (123,828) Property, mineral rights, and equipment, net $ 15,079,636 $ 14,926,417

Note 7 - Common Stock, Warran_2

Note 7 - Common Stock, Warrants and Preferred Stock: Schedule of fair value of warrants issued for mineral rights (Tables)	9 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of fair value of warrants issued for mineral rights	Warrants Issued During the Nine Months Ended June 30, 2019 Expected volatility 137.4 % - 138.5 % Stock price on date of grant $ 0.06 - $ 0.07 Exercise price $ 0.07 - $ 0.24 Expected dividends - Expected term (in years) 1.5 - 3 Risk-free rate 2.26 % – 2.46 % Expected forfeiture rate 0 %

Note 8 - Stock-based Awards_ Su

Note 8 - Stock-based Awards: Summary of options issued and outstanding (Tables)	12 Months Ended
	Sep. 30, 2018
Tables/Schedules
Summary of options issued and outstanding	Option Obligation Matured During Quarter Ended December 31, 2018 Expected volatility 137.4% Stock price on date of grant $ 0.06 Exercise price $ 0.10 Expected dividends - Expected term (in years) 5 Risk-free rate 2.46 % Expected forfeiture rate 0 %

Note 8 - Stock-based Awards_ Sh

Note 8 - Stock-based Awards: Share-based Compensation, Stock Options, Activity (Tables)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Tables/Schedules
Share-based Compensation, Stock Options, Activity	2019 Options Weighted Average Exercise Price Outstanding at September 30, 2018 3,280,000 $ 0.26 Issued 100,000 0.10 Terminated (100,000) (0.10) Outstanding and exercisable at June 30, 2019 3,280,000 $ 0.26 Average remaining contractual term of options outstanding and exercisable at June 30, 2019 (years) 3.26	2018 Options Weighted Average Exercise Price Outstanding at September 30, 2017 2,233,334 $ 0.41 Issued 1,900,000 0.16 Expired (853,334) (0.43) Outstanding and exercisable at June 30, 2018 3,280,000 $ 0.26 Average remaining contractual term of options outstanding and exercisable at June 30, 2018 (years) 3.74

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies: Schedule of Rent Expense (Tables)	9 Months Ended
	Jun. 30, 2019
Tables/Schedules
Schedule of Rent Expense	Three months ended June 30, Nine months ended June 30, 2019 2018 2019 2018 Mineral property purchases $ 18,000 $ 18,000 $ 36,000 $ 36,000 Mineral exploration expenses 3,900 6,900 7,800 32,700 Other general and administrative expenses 10,500 10,500 21,000 31,500 Total $ 32,400 $ 35,400 $ 64,800 $ 100,200

Note 2 - Summary of Signific_21

Note 2 - Summary of Significant Accounting Policies: a. Going Concern (Details)	9 Months Ended
	Jun. 30, 2019
Details
Substantial Doubt about Going Concern, Conditions or Events	The Company has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds. The Company currently has no historical recurring source of revenue, and its ability to continue as a going concern is dependent on its ability to raise capital to fund future exploration and working capital requirements, or the Company’s ability to profitably execute its business plan.
Substantial Doubt about Going Concern, Management's Plans, Substantial Doubt Not Alleviated	The Company’s plans for the long-term return to and continuation as a going concern include financing its future operations through sales of 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 and Canada are significant obstacles to raising the required funds. While the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company.

Note 2 - Summary of Signific_22

Note 2 - Summary of Significant Accounting Policies: r. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Details
Stock options	3,280,000	3,180,000
Warrants	45,489,967	28,340,873
Total potential dilution	48,769,967	31,520,873

Note 3 - Property, Mineral Ri_3

Note 3 - Property, Mineral Rights, and Equipment: Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2019
Details
Mineral rights Eureka	$ 13,678,940	$ 13,656,159
Mineral rights Elder Creek	1,146,000	1,322,000
Mineral rights	50,000	50,000
Mineral rights	14,874,940	15,028,159
Equipment and vehicles	53,678	53,678
Office equipment and furniture	70,150	70,150
Land	51,477	51,477
Property, Plant and Equipment, Gross	175,305	175,305
Depreciation, Depletion and Amortization, Nonproduction	(123,828)
Property, mineral rights and equipment, net	$ 14,926,417	$ 15,079,636

Note 3 - Property, Mineral Ri_4

Note 3 - Property, Mineral Rights, and Equipment (Details) - USD ($)	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Details
Depreciation	$ 0	$ 0

Note 4 - Related-party Transa_2

Note 4 - Related-party Transactions (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Sep. 30, 2018
Details
Related Party Transaction, Description of Transaction			In connection with the Definitive Agreement with AGEI for the purchase of two joint venture interests during the fiscal year ended September 30 2018, Mr. Donald J. McDowell and Mr. Dave Mathewson were appointed to the Company’s Board of Directors on June 21, 2018.
Stock options issued to officer	100,000
Stock options issued to officer, value	$ 5,000
Private placement units sold to related parties	1,062,500	1,100,000
Private placement units sold to related parties, value	$ 85,000	$ 88,000
Private placement units sold to related parties, price per unit	0.08	0.08

Note 5 - Payment Obligation (De

Note 5 - Payment Obligation (Details) - USD ($)	Sep. 12, 2017	Jun. 30, 2019	Sep. 30, 2018
Details
Debt Instrument, Description	On September 12, 2017, the Company entered into an agreement (the “Payment Agreement”) with a creditor (the “Creditor”) to pay by way of a payment plan an existing obligation of $250,000 (the “Payment Obligation”) related to a potential corporate transaction in 2015 that was not completed.
Payment obligation		$ 178,533	$ 198,806
Payment obligation, additional		$ 4,000

Note 6 - Senior Unsecured Not_2

Note 6 - Senior Unsecured Note Payable (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
Details
Proceeds from Unsecured Notes Payable	$ 250,000	$ 300,000
Series F Warrants Issued		3,265,500
Relative fair value of warrants issued, Series F		$ 110,900
Series I Warrants Issued	3,543,600
Relative fair value of warrants issued, Series I	$ 94,300

Note 7 - Common Stock, Warran_3

Note 7 - Common Stock, Warrants and Preferred Stock (Details) - USD ($)	3 Months Ended			9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Dec. 31, 2019	Sep. 30, 2018
Details
Units sold	$ 1,000,000	$ 2,000,000	$ 7,500,000
Units sold net proceeds	80,000	$ 160,000	$ 600,000
Warrant units, gross				$ 18,843,600
Purchase of Nevada Mineral Properties, Additional Warrants Issued					5,000,000
Purchase of Nevada Mineral Properties, Additional Warrants Issued, Value					$ 176,000
Warrants and Rights Outstanding	$ 45,489,967			$ 45,489,967		$ 36,606,373
Preferred stock shares authorized	10,000,000			10,000,000		10,000,000
Preferred stock par or state value per share	$ 0.01			$ 0.01		$ 0.01

Note 7 - Common Stock, Warran_4

Note 7 - Common Stock, Warrants and Preferred Stock: Schedule of fair value of warrants issued for mineral rights (Details)	9 Months Ended
	Jun. 30, 2019$ / shares
Details
Expected volatility rate, minimum	137.40%
Expected volatility rate, maximum	138.50%
Stock price on date of grant, minimum	$ 0.06
Stock price on date of grant, maximum	$ 0.07
Minimum exercise price	0.07%
Maximum exercise price	0.24%
Expected term simplified minimum	1.5
Expected term simplified maximum	3
Risk free interest rate, minimum	2.26%
Risk free interest rate, maximum	2.46%
Expected forfeiture rate	0.00%

Note 8 - Stock-based Awards (De

Note 8 - Stock-based Awards (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2018	Jun. 30, 2019
Details
Stock options issued, CFO	100,000
Stock options issued, CFO, Value	$ 5,000
Shares forfeited		100,000

Note 8 - Stock-based Awards_ _2

Note 8 - Stock-based Awards: Summary of options issued and outstanding (Details)	3 Months Ended
	Dec. 31, 2018$ / shares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	137.40%
Sale of Stock, Price Per Share	$ 0.06
Exercise price	$ 0.10
Expected term (in years)	5
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.46%
Expected forfeiture rate	0.00%

Note 9 - Commitments and Cont_3

Note 9 - Commitments and Contingencies (Details)	9 Months Ended
	Jun. 30, 2019USD ($)
Details
Real estate lease commitments mineral properties	$ 82,000

Note 9 - Commitments and Cont_4

Note 9 - Commitments and Contingencies: Schedule of Rent Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Details
Mineral property purchases	$ 18,000	$ 18,000	$ 36,000	$ 36,000
Mineral exploration expenses	3,900	6,900	7,800	32,700
Other General and Administrative Expense	10,500	10,500	21,000	31,500
Operating Leases, Rent Expense	$ 32,400	$ 35,400	$ 64,800	$ 100,200

Note 10 - Subsequent Events (De

Note 10 - Subsequent Events (Details)	Jul. 11, 2019
Details
Subsequent Event, Description	On July 11, 2019, the Company entered into the Definitive Agreement to form the joint venture with PM & Gold Mines, Inc. (“PM&G” and together with Timberline, the “JV Partners”) whereby the JV Partners formed a limited liability company to conduct operations on the Company’s Lookout Mountain Project in Nevada (the “Project”) pursuant to a limited liability company agreement (the “Agreement”).