Timberline Resources (TLRS) 10-Q 14 Feb 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2021	Feb. 14, 2022
Registrant CIK	0001288750
Fiscal Year End	--09-30
Document Type	10-Q
Document Period End Date	Dec. 31, 2021
Entity File Number	001-34055
Entity Registrant Name	TIMBERLINE RESOURCES CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-0291227
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		139,696,022
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
TSX-V
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	TBR
Security Exchange Name	NONE
OTCQB
Trading Symbol	TLRS
Security Exchange Name	NONE

Timberline Resources Corp and S

Timberline Resources Corp and Subsidiaries Consolidated Balance Sheets (Unaudited) - USD ($)		Dec. 31, 2021	Sep. 30, 2021
CURRENT ASSETS
Cash		$ 1,854,614	$ 3,327,352
Prepaid expenses and other current assets		80,513	23,573
TOTAL CURRENT ASSETS		1,935,127	3,350,925
Property, mineral rights, and equipment, net	[1]	13,839,085	13,821,085
OTHER ASSETS
Reclamation bonds		538,696	538,696
Deposits and other assets		5,700	5,700
TOTAL OTHER ASSETS		544,396	544,396
TOTAL ASSETS		16,318,608	17,716,406
CURRENT LIABILITIES
Accounts payable		289,684	114,819
Accrued expenses		16,909	23,749
Accrued interest - related party		16,817	4,145
Accrued payroll, benefits and taxes		38,193	38,193
TOTAL CURRENT LIABILITIES		361,603	180,906
LONG-TERM LIABILITIES
Asset retirement obligation		119,655	118,247
Senior unsecured note payable - related party		270,991	270,991
TOTAL LONG-TERM LIABILITIES		390,646	389,238
TOTAL LIABILITIES		752,249	570,144
COMMITMENTS AND CONTINGENCIES (Note 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; 500,000,000 shares authorized, 139,696,022 and 139,696,022 shares issued and outstanding, respectively		139,696	139,696
Additional paid-in capital		85,389,534	85,345,213
Accumulated deficit		(69,962,871)	(68,338,647)
TOTAL STOCKHOLDERS' EQUITY		15,566,359	17,146,262
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 16,318,608	$ 17,716,406
[1]	Note 7

Timberline Resources Corp and_2

Timberline Resources Corp and Subsidiaries Consolidated Balance Sheets (Unaudited) - Parenthetical - $ / shares	Dec. 31, 2021	Sep. 30, 2021
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	500,000,000	500,000,000
Common Stock, Shares, Issued	139,696,022	139,696,022
Common Stock, Shares, Outstanding	139,696,022	139,696,022

Timberline Resources Corp and_3

Timberline Resources Corp and Subsidiaries Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
OPERATING EXPENSES
Mineral exploration	$ 1,314,368	$ 1,176,526
Salaries and benefits	76,320	77,657
Professional fees	65,632	74,568
Insurance expense	31,480	24,783
Other general and administrative	122,671	217,337
TOTAL OPERATING EXPENSES	1,610,471	1,570,871
LOSS FROM OPERATIONS	(1,610,471)	(1,570,871)
OTHER INCOME (EXPENSE)
Foreign exchange gain (loss)	(805)	7,445
Interest expense - related party	(13,004)	(20,687)
Other income	56	0
TOTAL OTHER INCOME (EXPENSE)	(13,753)	(13,242)
LOSS BEFORE INCOME TAXES	(1,624,224)	(1,584,113)
INCOME TAX PROVISION (BENEFIT)	0	0
NET LOSS	$ (1,624,224)	$ (1,584,113)
NET LOSS PER SHARE BASIC AND DILUTED	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	139,696,020	112,293,700

Timberline Resources Corp and_4

Timberline Resources Corp and Subsidiaries Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Common stock issued for exercise of warrants, Value	$ 950	$ 132,050	$ 0	$ 133,000
Common stock issued for exercise of warrants, Shares	950,000
Stock based compensation	$ 0	127,021	0	127,021
Equity balance, shares at Sep. 30, 2020	112,075,224
Equity Balance at Sep. 30, 2020	$ 112,075	79,613,593	(63,630,832)	16,094,836
Net loss	$ 0	0	(1,584,113)	(1,584,113)
Equity balance, shares at Dec. 31, 2020	113,025,224
Equity Balance at Dec. 31, 2020	$ 113,025	79,872,664	(65,214,945)	14,770,744
Stock based compensation	$ 0	44,321	0	44,321
Equity balance, shares at Sep. 30, 2021	139,696,022
Equity Balance at Sep. 30, 2021	$ 139,696	85,345,213	(68,338,647)	17,146,262
Net loss	$ 0	0	(1,624,224)	(1,624,224)
Equity balance, shares at Dec. 31, 2021	139,696,022
Equity Balance at Dec. 31, 2021	$ 139,696	$ 85,389,534	$ (69,962,871)	$ 15,566,359

Timberline Resources Corp and_5

Timberline Resources Corp and Subsidiaries Consoldiated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,624,224)	$ (1,584,113)
Adjustments to reconcile net loss to net cash used by operating activities
Stock based compensation	44,321	127,021
Accretion of asset retirement obligation	1,408	1,408
Changes in assets and liabilities
Prepaid expenses and other current assets	(56,940)	(49,256)
Accounts payable	174,865	(64,328)
Accrued expenses	(6,840)	11,125
Accrued payroll, benefits and taxes	0	13,647
Increase Decrease Accrued Expenses Related Party	0	17,674
Increase Decrease Interest Payable Related Party	12,672	20,399
Net cash used by operating activities	(1,454,738)	(1,506,423)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of mineral rights	(18,000)	(18,000)
Proceeds from lease of mineral rights	0	26,190
Net cash provided (used) by investing activities	(18,000)	8,190
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of warrants	0	133,000
Net cash provided by financing activities	0	133,000
Net decrease in cash and cash equivalents	(1,472,738)	(1,365,233)
CASH AT BEGINNING OF PERIOD	3,327,352	2,520,726
CASH AT END OF PERIOD	$ 1,854,614	$ 1,155,493

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	3 Months Ended
	Dec. 31, 2021
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.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2021
Notes
Note 2 - Summary of Significant Accounting Policies:	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Basis of Presentation and Going Concern For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended September 30, 2021. The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception. The Company has sufficient cash to fund normal operations and meet all of its obligations, without considering new exploration programs during the next 12 months. However, we are an exploration company with exploration programs that require significant cash expenditures. A significant drilling program, such are those we have planned, can result in depletion of cash and return us to a position of insufficient cash to support normal operations for 12 months. 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. 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. 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. 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. Fair Value Measurements At December 31, 2021 and September 30, 2021, 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 note payable-related party, approximate fair value at December 31, 2021 and September 30, 2021. d. Estimates and Assumptions statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to long-lived asset impairments, asset retirement obligations, and stock-based compensation. Actual results could differ from these estimates and assumptions and could have a material effect on the Company’s reported financial position and results of operations. e. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of December 31, 2021 and 2020 is as follows: December 31, 2021 December 31, 2020 Stock options – vested 8,335,000 5,937,500 Warrants 62,391,319 74,684,670 Total potential dilution 70,726,319 80,622,170 At December 31, 2021 and 2020, 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	3 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and September 30, 2021, respectively: Expected Useful Lives (years) December 31, 2021 September 30, 2021 Mineral rights - Eureka - $ 13,722,608 $ 13,704,608 Mineral rights – Other - 65,000 65,000 Total mineral rights 13,787,608 13,769,608 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 $ 13,839,085 $ 13,821,085 For the three months ended December 31, 2021 and 2020, the Company received mineral lease payments of $0 and $26,190, respectively, from a third party on two property blocks the Company leases at the Company’s Eureka property. These receipts were recorded as a reduction to mineral rights.

Note 4 - Senior Unsecured Note

Note 4 - Senior Unsecured Note Payable - Related Party	3 Months Ended
	Dec. 31, 2021
Notes
Note 4 - Senior Unsecured Note Payable - Related Party	NOTE 4 – SENIOR UNSECURED NOTE PAYABLE – RELATED PARTY: On July 30, 2018, the Company entered into a loan agreement and promissory note with William Matlack, a significant shareholder and a director as of October 29, 2019, (the “Lender”), thereafter becoming a related party. Under the loan agreement, the Lender loaned the Company $300,000 in the form of a senior unsecured note payable, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and has a maturity date of January 20, 2023. At December 31, 2021 and September 30, 2021, the senior unsecured note payable balance was $270,991. The accrued interest on the senior unsecured note payable – related party was $16,817and $4,145 at December 31, 2021 and September 30, 2021, respectively. Interest expense related to the senior unsecured notes payable to this related party was $12,672 and $20,399 for the three months ended December 31, 2021 and December 31, 2020, respectively. The $270,991 senior unsecured note payable would be senior to any other debt obtained by the Company subsequent to September 30, 2021. The note requires that when the Company enters into any other financings, 25% of the proceeds of such financings will be paid toward reduction of the principal and interest accrued on this note. At August 30, 2021, the Lender provided a waiver of default on the Note that would otherwise have existed due to a non-payment under this contract term for the note. Payment of the remainder of the note’s principal balance will not be required until the next qualifying financing, whether debt or equity. On August 30, 2021, $250,000 was remitted to the Lender in conjunction with the common stock private placement financing that occurred in June 2021, consisting of $29,009 of principal and $220,991 of interest.

Note 5 - Common stock, Warrents

Note 5 - Common stock, Warrents and Preferred Stock	3 Months Ended
	Dec. 31, 2021
Notes
Note 5 - Common stock, Warrents and Preferred Stock	NOTE 5 – COMMON STOCK, WARRANTS AND PREFERRED STOCK: At the Annual General Meeting of shareholders held on April 14, 2021, the shareholders approved an increase in the number of authorized common shares of the Company from 200,000,000 to 500,000,000, with no change in par value and no split or other modification to any outstanding shares. The Certificate of Incorporation of the Company in the State of Delaware was amended to reflect that change in October 2021. During the quarter ended December 31, 2021, 6,825,000 Series E warrants and 5,000,000 Series G warrants expired. At December 31, 2021, the Company has a total of 62,391,319 warrants outstanding with a weighted average exercise price of $0.21 and a weighted average remaining contractual term of 1.44 years.

Note 6 - Stock-based Awards

Note 6 - Stock-based Awards	3 Months Ended
	Dec. 31, 2021
Notes
Note 6 - Stock-based Awards:	NOTE 6 – STOCK-BASED AWARDS: During the year ended September 30, 2021, the Company’s shareholders approved an increase to the number of shares of common stock reserved for issuance under the Plan to 15,000,000 shares of common stock, including 10,000,000 shares of common stock reserved for incentive stock options. 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 trading price of the Company’s stock at the date of grant. On October 8, 2020, the Company granted a total of 1,100,000 options to purchase shares of the Company’s common stock that expire in five years with an exercise price of $0.25 in conjunction with the appointment of officers and a director. These granted options had a total fair value of $260,000. These options vested immediately, with the exception of 187,500 options vesting at each of the following three grant anniversary dates, with a fair value of $44,321 being expensed to share-based compensation, respectively. On May 6, 2021, the Company granted a total of 2,785,000 options to employees, consultants, officers and directors to purchase shares of the Company’s common stock that expire in five years with an exercise price of $0.25. These granted options had a total fair value of $519,400. All options vested upon grant. The fair value of the option awards granted and vested during the three months ended December 31, 2021 and 2020 was $nil and $127,021, respectively. The fair value of unvested options will be recognized as compensation in the amount of $44,321 at each of the following three grant anniversary dates. Fair values of options issued were measured on the date of the grant with a Black-Scholes option-pricing model using the assumptions noted in the following table: Options Granted at May 6, 2021 Options Granted at October 8, 2020 Expected volatility 167.9% 171.9% Stock price on date of grant $0.20 $0.25 Exercise price $0.25 $0.25 Expected dividends - - Expected term (in years) 5 5 Risk-free rate 0.05% 0.09% Expected forfeiture rate 0% 0% The following is a summary of options issued and outstanding: Options Weighted Average Exercise Price Outstanding at September 30, 2020 5,400,000 0.16 Granted 3,885,000 0.12 Expired (950,000) (0.43) Outstanding at September 30, 2021 8,335,000 $ 0.18 Granted - - Expired - - Outstanding at December 31, 2021 8,335,000 0.18 Outstanding and exercisable at December 31, 2021 7,960,000 $ 0.17 Weighted average remaining contractual term (years) 3.04 The aggregate of options exercisable as of December 31, 2021 had an intrinsic value of $428,500 for both outstanding and vested options, based on the closing price of $0.21 per share of the Company’s common stock on December 31, 2021.

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	3 Months Ended
	Dec. 31, 2021
Notes
Note 7 - Commitments and Contingencies:	NOTE 7 – COMMITMENTS AND CONTINGENCIES: The Company has the following 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 including advance minimum royalty payments, with various terms, obligations, and royalties payable in certain circumstances. Total mining claim lease, option agreements and royalty agreements total $82,000 per year. 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 estimates annual fees to total approximately $236,277 per year in the future. Real Estate Lease Commitments At December 31, 2021, the Company’s office in Coeur d’Alene, Idaho and its facilities in Eureka, Nevada are rented on a month-to-month basis.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies: a. Basis of Presentation and Going Concern (Policies)	3 Months Ended
	Dec. 31, 2021
Policies
a. Basis of Presentation and Going Concern	a. Basis of Presentation and Going Concern For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended September 30, 2021. The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception. The Company has sufficient cash to fund normal operations and meet all of its obligations, without considering new exploration programs during the next 12 months. However, we are an exploration company with exploration programs that require significant cash expenditures. A significant drilling program, such are those we have planned, can result in depletion of cash and return us to a position of insufficient cash to support normal operations for 12 months. 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. 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. 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. 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.

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies: b. Principles of Consolidation (Policies)	3 Months Ended
	Dec. 31, 2021
Policies
b. Principles of Consolidation	b. Principles of Consolidation

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies: c. Fair Value Measurements (Policies)	3 Months Ended
	Dec. 31, 2021
Policies
c. Fair Value Measurements	c. Fair Value Measurements At December 31, 2021 and September 30, 2021, 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 note payable-related party, approximate fair value at December 31, 2021 and September 30, 2021.

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies: d. Estimates and Assumptions (Policies)	3 Months Ended
	Dec. 31, 2021
Policies
d. Estimates and Assumptions	d. Estimates and Assumptions statements, and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management assumptions and estimates relate to long-lived asset impairments, asset retirement obligations, and stock-based compensation. Actual results could differ from these estimates and assumptions and could have a material effect on the Company’s reported financial position and results of operations.

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies: e. Net Income (Loss) per Share (Policies)	3 Months Ended
	Dec. 31, 2021
Policies
e. Net Income (Loss) per Share	e. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of December 31, 2021 and 2020 is as follows: December 31, 2021 December 31, 2020 Stock options – vested 8,335,000 5,937,500 Warrants 62,391,319 74,684,670 Total potential dilution 70,726,319 80,622,170 At December 31, 2021 and 2020, the effect of the Company’s common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

Note 2 - Summary of Significa_7

Note 2 - Summary of Significant Accounting Policies: e. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2021
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	December 31, 2021 December 31, 2020 Stock options – vested 8,335,000 5,937,500 Warrants 62,391,319 74,684,670 Total potential dilution 70,726,319 80,622,170

Note 3 - Property, Mineral Ri_2

Note 3 - Property, Mineral Rights, and Equipment: Property, Plant and Equipment (Tables)	3 Months Ended
	Dec. 31, 2021
Tables/Schedules
Property, Plant and Equipment	Expected Useful Lives (years) December 31, 2021 September 30, 2021 Mineral rights - Eureka - $ 13,722,608 $ 13,704,608 Mineral rights – Other - 65,000 65,000 Total mineral rights 13,787,608 13,769,608 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 $ 13,839,085 $ 13,821,085

Note 6 - Stock-based Awards_ Su

Note 6 - Stock-based Awards: Summary of fair value of options issued and outstanding (Tables)	3 Months Ended
	Dec. 31, 2021
Options
Summary of fair value of options issued and outstanding	Options Granted at May 6, 2021 Options Granted at October 8, 2020 Expected volatility 167.9% 171.9% Stock price on date of grant $0.20 $0.25 Exercise price $0.25 $0.25 Expected dividends - - Expected term (in years) 5 5 Risk-free rate 0.05% 0.09% Expected forfeiture rate 0% 0%

Note 6 - Stock-based Awards_ Sh

Note 6 - Stock-based Awards: Share-based Compensation, Stock Options, Activity (Tables)	3 Months Ended
	Dec. 31, 2020
Tables/Schedules
Share-based Compensation, Stock Options, Activity	Options Weighted Average Exercise Price Outstanding at September 30, 2020 5,400,000 0.16 Granted 3,885,000 0.12 Expired (950,000) (0.43) Outstanding at September 30, 2021 8,335,000 $ 0.18 Granted - - Expired - - Outstanding at December 31, 2021 8,335,000 0.18 Outstanding and exercisable at December 31, 2021 7,960,000 $ 0.17 Weighted average remaining contractual term (years) 3.04

Note 2 - Summary of Significa_8

Note 2 - Summary of Significant Accounting Policies: a. Basis of Presentation and Going Concern (Details)	3 Months Ended
	Dec. 31, 2021
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.
Substantial Doubt about Going Concern, Management's Evaluation	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.

Note 2 - Summary of Significa_9

Note 2 - Summary of Significant Accounting Policies: e. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Details
Stock options	8,335,000	5,937,500
Warrants	62,391,319	74,684,670
Total potential dilution	70,726,319	80,622,170

Note 3 - Property, Mineral Ri_3

Note 3 - Property, Mineral Rights, and Equipment: Property, Plant and Equipment (Details) - USD ($)		Dec. 31, 2021	Sep. 30, 2021
Property, mineral rights, and equipment, net	[1]	$ 13,839,085	$ 13,821,085
[1]	Note 7

Note 3 - Property, Mineral Ri_4

Note 3 - Property, Mineral Rights, and Equipment (Details) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Details
Proceeds from lease of mineral rights	$ 0	$ 26,190

Note 4 - Senior Unsecured Not_2

Note 4 - Senior Unsecured Note Payable - Related Party (Details) - USD ($)	Dec. 31, 2021	Sep. 30, 2021	Jul. 30, 2018	Dec. 31, 2021	Dec. 31, 2020
Senior Unsecured Notes Payable, Transaction #1
Debt Instrument, Issuance Date				Jul. 30, 2018
Debt Instrument, Description			loan agreement and promissory note
Debt Instrument, Face Amount		$ 270,991	$ 300,000
Senior Unsecured Notes Interest Paid
Debt Instrument, Increase, Accrued Interest	$ 16,817	$ 4,145
Interest Expense				$ 12,672	$ 20,399

Note 5 - Common stock, Warren_2

Note 5 - Common stock, Warrents and Preferred Stock (Details)	Dec. 31, 2021shares
Details
Warrants outstanding	62,391,319

Note 6 - Stock-based Awards_ _2

Note 6 - Stock-based Awards: Summary of fair value of options issued and outstanding (Details) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Details
Expected volatility	167.90%	171.90%
Stock price on date of grant	$ 0.20	$ 0.25
Exercise price	$ 0.25	$ 0.25
Expected dividends	$ 0	$ 0
Expected term (in years)	5 years	5 years
Risk-free rate	0.05%	0.09%
Expected forfeiture rate	0.00%	0.00%

Note 6 - Stock-based Awards_ _3

Note 6 - Stock-based Awards: Share-based Compensation, Stock Options, Activity (Details) - shares	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Sep. 30, 2021
Details
Outstanding	8,335,000	8,335,000	5,400,000
Granted	3,885,000
Expired	(950,000)
Outstanding		7,960,000

Note 7 - Commitments and Cont_2

Note 7 - Commitments and Contingencies (Details)	3 Months Ended
	Dec. 31, 2021
Other Commitments, Description	At December 31, 2021, the Company’s office in Coeur d’Alene, Idaho and its facilities in Eureka, Nevada are rented on a month-to-month basis
Commtment or Contingency #1
Other Commitments, Description	A portion of the Company’s mining claims on the Company’s properties are subject to lease and option agreements including advance minimum royalty payments, with various terms, obligations, and royalties payable in certain circumstances.
Commtment or Contingency #2
Other Commitments, Description	The Company pays federal and county claim maintenance fees on unpatented claims that are included in the Company’s mineral exploration properties.