Timberline Resources (TLRS) 10-K 29 Dec 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2022	Dec. 29, 2022	Mar. 31, 2022
Cover [Abstract]
Entity Registrant Name	TIMBERLINE RESOURCES CORPORATION
Entity Central Index Key	0001288750
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--09-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		159,676,152
Entity Public Float			$ 29,586,249
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-34055
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	82-0291227
Entity Address Address Line 1	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
Auditor Name	Assure CPA, LLC
Auditor Location	Spokane, Washington
Local Phone Number	664-4859
Security 12b Title	Common Stock, $0.001 par value
Trading Symbol	TLRS
Entity Interactive Data Current	Yes
Phone Fax Number Description	Registrant’s Telephone Number, including Area Code
Auditor Firm Id	444

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2022	Sep. 30, 2021
CURRENT ASSETS:
Cash	$ 2,438,587	$ 3,327,352
Prepaid expenses and other current assets	18,444	23,573
TOTAL CURRENT ASSETS	2,457,031	3,350,925
PROPERTY, MINERAL RIGHTS, AND EQUIPMENT, net (NOTE 3)	13,980,855	13,821,085
OTHER ASSETS:
Reclamation bonds	528,643	538,696
Deposits and other assets	5,700	5,700
TOTAL OTHER ASSETS	534,343	544,396
TOTAL ASSETS	16,972,229	17,716,406
CURRENT LIABILITIES:
Accounts payable	639,994	114,819
Accrued expenses	22,214	23,749
Accrued interest - related party (NOTE 5)	57,966	4,145
Accrued payroll, benefits and taxes	42,143	38,193
Senior unsecured note payable - related party (NOTE 5)	270,991	0
TOTAL CURRENT LIABILITIES	1,033,308	180,906
LONG-TERM LIABILITIES:
Asset retirement obligation	124,159	118,247
Senior unsecured note payable - related party (NOTE 5)	0	270,991
TOTAL LONG-TERM LIABILITIES	124,159	389,238
TOTAL LIABILITIES	1,157,467	570,144
COMMITMENTS AND CONTINGENCIES (NOTES 5 and 10)	0	0
STOCKHOLDERS' EQUITY: (NOTE 8)
Preferred stock, $ 0.01 par value; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $ 0.001 par value; 500,000,000 shares authorized, 159,676,152 and 139,696,022 shares issued and outstanding, respectively	159,676	139,696
Additional paid-in capital	89,955,640	85,345,213
Accumulated deficit	(74,300,554)	(68,338,647)
TOTAL STOCKHOLDERS' EQUITY	15,814,762	17,146,262
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 16,972,229	$ 17,716,406

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
CONSOLIDATED BALANCE SHEETS
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	159,676,152	139,696,022
Common Stock, Shares, Outstanding	159,676,152	139,696,022

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING EXPENSES:
Mineral exploration	$ 4,614,490	$ 2,801,385
Salaries and benefits	337,418	564,659
Professional fees	181,811	205,068
Insurance	160,004	135,906
TOTAL OPERATING EXPENSES	5,691,446	4,475,653
LOSS FROM OPERATIONS	(5,691,446)	(4,475,653)
OTHER INCOME (EXPENSE):
Other income	218	151
Foreign exchange loss	(215,019)	(148,197)
Interest expense	0	(1,473)
Interest expense - related party	(55,660)	(82,643)
TOTAL OTHER EXPENSE	(270,461)	(232,162)
LOSS BEFORE INCOME TAXES	(5,961,907)	(4,707,815)
INCOME TAX PROVISION (BENEFIT)	0	0
NET LOSS	$ (5,961,907)	$ (4,707,815)
NET LOSS PER SHARE, BASIC AND DILUTED	$ (0.04)	$ (0.04)
WEIGHTED-AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	149,730,321	120,741,893

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Sep. 30, 2020		112,075,224
Balance, amount at Sep. 30, 2020	$ 16,094,836	$ 112,075	$ 79,613,593	$ (63,630,832)
Common stock issued for exercise of warrants, shares		4,550,000
Common stock issued for exercise of warrants, amount	637,001	$ 4,550	632,451	0
Common stock and warrants issued for private placement, net, shares		23,070,798
Common stock and warrants issued for private placement, net, amount	4,475,818	$ 23,071	4,452,747	0
Stock-based compensation	646,422	0	646,422	0
Net loss	(4,707,815)	$ 0	0	(4,707,815)
Balance, shares at Sep. 30, 2021		139,696,022
Balance, amount at Sep. 30, 2021	17,146,262	$ 139,696	85,345,213	(68,338,647)
Common stock issued for exercise of warrants, shares		1,046,425
Common stock issued for exercise of warrants, amount	146,499	$ 1,046	145,453	0
Stock-based compensation	44,321	0	44,321	0
Net loss	(5,961,907)	$ 0	0	(5,961,907)
Common stock issued for cash, net, shares		18,933,705
Common stock issued for cash, net, amount	4,439,587	$ 18,934	4,420,653	0
Balance, shares at Sep. 30, 2022		159,676,152
Balance, amount at Sep. 30, 2022	$ 15,814,762	$ 159,676	$ 89,955,640	$ (74,300,554)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,961,907)	$ (4,707,815)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock-based compensation	44,321	646,422
Accretion of asset retirement obligation	5,912	5,632
Changes in assets and liabilities:
Prepaid expenses and other current assets	5,129	(9,428)
Accounts payable	525,175	(59,162)
Accrued expenses	(1,535)	(15,691)
Accrued interest payable - related party	53,821	(138,347)
Accrued payroll, benefits, and taxes	3,950	14,635
Net cash used by operating activities	(5,325,134)	(4,263,754)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of mineral rights	(209,770)	(92,000)
Proceeds from lease of mineral rights	0	78,570
Refund of reclamation bonds	10,053	0
Deposit received on potential sale of mineral rights	50,000	0
Net cash used by investing activities	(149,717)	(13,430)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock and warrants, net		4,475,818
Proceeds from sale of common stock, net	4,439,587	0
Proceeds from exercise of warrants	146,499	637,001
Payment on senior unsecured note payable - related party	0	(29,009)
Net cash provided by financing activities	4,586,086	5,083,810
Net increase (decrease) in cash and cash equivalents	(888,765)	806,626
CASH AT BEGINNING OF YEAR	3,327,352	2,520,726
CASH AT END OF YEAR	2,438,587	3,327,352
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 1,839	$ 222,463

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Sep. 30, 2022
ORGANIZATION AND DESCRIPTION OF BUSINESS
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. Timberline Resources, together with its consolidated entities, is a mineral exploration business and, if and when we establish mineral reserves, a development company. Mineral exploration is essentially a research activity that does not produce a product. Successful exploration often results in increased project value that can be realized through the optioning or selling of the claimed site to larger companies. We have acquired properties which we believe have potential to host economic concentrations of minerals, particularly gold and silver. These acquisitions have and may take the form of unpatented mining claims on federal land, or leasing claims on private property owned by others. An unpatented mining claim is an interest that can be acquired in the mineral rights on open lands of the federally-owned public domain.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 has incurred losses since its inception. The Company has sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds. 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 equity and/or debt 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. New Accounting Pronouncements - In August 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-06 Debt - Debt With Conversion And Other Options (Subtopic 470-20) And Derivatives And Hedging - Contracts In Entity’s Own Equity (Subtopic 815-40): Accounting For Convertible Instruments And Contracts In An Entity’s Own Equity. The update simplifies the accounting for and disclosures related to company debt that is convertible or can be settled in a company’s own equity securities. The update is effective for fiscal years beginning after December 15, 2023 and with early adoption permitted. The Company early adopted the update effective October 1, 2021, which had no impact on the Company’s consolidated financial statements. 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. Property and Equipment e. Mineral Rights, Capitalization and Exploration Expenditures f. Property Holding Costs g. Fair Value Measurements At September 30, 2022 and 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 September 30, 2022 and 2021. h. Cash Equivalents I. Reclamation Bonds j. Estimates and Assumptions k. Accounting for Investments in Joint Ventures - The Company recognizes as income funds that are received from distributions from net accumulated earnings of the joint venture. For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of a non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. The Company has no significant influence over its joint ventures, and therefore accounts for its investment using the cost less impairment basis. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations. l. Asset Impairments - Carrying Value of Property, Mineral Rights and Equipment m. Asset Retirement Obligations – n. Provision for Income Taxes Uncertain tax positions are evaluated in a two-step process, whereby (i) it is determined whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the related tax authority would be recognized. o. Translation of Foreign Currencies p. Stock-based Compensation The fair 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. q. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of September 30, 2022 and 2021 is as follows: 2022 2021 Stock options 8,335,000 8,335,000 Warrants 57,414,898 74,216,319 Total potential dilution 65,749,898 82,551,319 At September 30, 2022 and 2021, the effect of the Company’s common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

PROPERTY MINERAL RIGHTS AND EQU

PROPERTY MINERAL RIGHTS AND EQUIPMENT	12 Months Ended
	Sep. 30, 2022
PROPERTY MINERAL RIGHTS AND EQUIPMENT
Property, Mineral Rights, And Equipment:	NOTE 3 – PROPERTY, MINERAL RIGHTS AND EQUIPMENT: The following is a summary of property, mineral rights, equipment and accumulated depreciation at September 30, 2022 and 2021: Expected Useful Lives (years) 2022 2021 Mineral rights – Eureka - $ 13,786,608 $ 13,704,608 Mineral rights – Seven Troughs, New York Canyon and other - 142,770 65,000 Total mineral rights 13,929,378 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 $ 13,980,855 $ 13,821,085 Depreciation expense for the years ended September 30, 2022 and 2021, was $ 0 for each period. The Company received lease payments from a third party in two of the Company’s historical leases on the Eureka property. The total amount of these payments received for the years ended September 30, 2022 and September 30, 2021 was $-0- and $78,570, respectively. The lease terms were modified during the fourth quarter of fiscal year 2021, and the payments ceased. These receipts were recorded as a reduction to the carrying amount of the mineral rights. Seven Troughs: In its fiscal 2012, Timberline announced the acquisition from CIT Microprobe Holdings, LLC (California Institute of Technology) (“CIT”) of CIT’s interest in 3,900 acres (6.1 square miles) of patented and unpatented mining claims comprising the majority of the Seven Troughs gold mining district near Lovelock, Nevada. The acquired interest is as lessee under the terms of a 50-year lease, originally executed in 1975. Terms of the purchase agreement included a cash payment of $50,000 and a 2-percent NSR production royalty reserved to CIT. While the Company is certain of its rights and obligations under the lease, the lessor’s identification became somewhat clouded over the years due to passing of the early lessor principal to the agreement and a lack of full clarity as to all the eventual inheritors of the property. The Company has met its obligations under the lease and has located and secured agreements with the heirs to acquire any of their residual rights. The Company is moving to have the agreements adjudicated appropriately. The Company has the option to purchase one-half of the NSR production royalty for $1 million. On April 26, 2022, the Company entered into a Memorandum of Agreement with Normandy Gold Limited (“NDY”) to grant NDY a 12-month exclusive option to enter into an earn-in joint venture agreement with the Company regarding the Seven Troughs property. Subject to negotiation and execution of a definitive agreement,the option may provide NDY with the opportunity to solely fund $5,000,000 of exploration over 6 years, make cash payments of $250,000 to the Company and issue 2,000,000 NDY shares to the Company to ultimately earn a 75% interest in the property. Earn-In Period: To earn an initial 51% interest in the project, NDY must spend $2,000,000 in exploration expenditures and make cash payments of $250,000, as follows: · $100,000 of committed expenditures within the first 12 months from exercising the exclusive option; · $500,000 of expenditures (an additional $400,000) within 24 months from exercising the exclusive option; · Payment to the Company of $100,000 in cash at 24 months from exercising the exclusive option or at such time as the Company demonstrates receipt of full title in the Seven Troughs claims, whichever is later; · $2,000,000 of expenditures (an additional 1,500,000) within 36 months from exercising the exclusive option; and · Payment to the Company of $150,000 in cash at 36 months from exercising the exclusive option. During the Earn-In Period, NDY will be the operator of the project and be responsible for payment of annual federal and county claim fees. NDY may withdraw from the Earn-In after spending $100,000, or if the transfer of claims ownership to the Company is not successfully completed within 24 months of commencement of the Earn-In Period. Joint Venture Period: Upon completion of the Earn-In Period, NDY will hold 51% interest and the Company will have the option (for a period of up to 60 business days) to elect to fund and participate in a Joint Venture on the basis of its 49% interest in the project. If the Company elects not to participate or fails to provide such notice within the 60-business day period, NDY can earn an additional 24% interest (for a total interest of 75%) in the project by: · spending $3,000,000 in exploration expenditures within three years from commencement of the joint venture, and · Issuing the Company 2,000,000 common shares in the stock of NDY. The Company received $50,000 of the initial non-refundable cash payment in May 2022 and recorded it as a reduction to the carrying amount of mineral rights during that period. The Memorandum of Agreement is in force as of the filing of this Annual Report. New York Canyon: On August 23, 2022, the Company purchased one patented mining claim, comprising of a total of 13.77 acres commonly known as the South Wales #1 patent within the New York Canyon claim block, from Newmont Capital Limited for a total of $41,310. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. On September 28, 2022, the Company purchased five patented mining claims, comprising of a total of 28.82 acres commonly known as the Tiger Lilly, Eureka Giant, Southern Cross, Maria and Best & Belcher patents with and near the New York Canyon claim block, from the University of Nevada, Reno Foundation for a total of $86,460. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. Two of the patented claims are not within the New York Canyon claim block, but will be included with this designation on the Company’s claims record references. During the fourth quarter of fiscal 2022 and first quarter of fiscal 2023, the Company purchased an interest in three patented claims within the New York Canyon claim block, from private parties. In conjunction with the purchase, the Company granted a 0.5% net smelter return royalty to the sellers. The combined purchase price will be capitalized in the first quarter of fiscal 2023 as a mineral property on the Company’s balance sheet.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2022
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 4 – RELATED-PARTY TRANSACTIONS: Mr. William Matlack, a director of the Company, is the holder of the note described in Note 5. Mr. Donald McDowell, a director of the Company, performs geological consulting services for the Company, for which he received compensation of $60,750 and $49,100 in the fiscal years ended September 30, 2022 and 2021, respectively.

SENIOR UNSECURED NOTE PAYABLE

SENIOR UNSECURED NOTE PAYABLE	12 Months Ended
	Sep. 30, 2022
SENIOR UNSECURED NOTE PAYABLE
SENIOR UNSECURED NOTE PAYABLE	NOTE 5 – SENIOR UNSECURED NOTES PAYABLE: On July 30, 2018, the Company entered into a loan agreement and promissory note with William Matlack, a significant shareholder and director. Mr. Matlack 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 has a maturity date of January 20, 2023. During fiscal 2021, the Company repaid $29,009 of principal along with $220,991 of interest. At September 30, 2022 and 2021, the note payable balance was $270,991 and $270,991, respectively, with all of the discount fully amortized. The accrued interest on the senior unsecured note payable – related party was $57,966 and $4,145 at September 30, 2022 and September 30, 2021, respectively. Interest expense related to the senior unsecured note payable to this related party was $55,660 and $82,643 for the fiscal years ended September 30, 2022 and 2021, 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 May 2, 2022 and continuing through September 30, 2022, the Mr. Matlack provided a waiver of default on the note that would otherwise have existed due to a non-payment of cash from sales of common stock for cash under this contract term for the note.

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	12 Months Ended
	Sep. 30, 2022
ASSET RETIREMENT OBLIGATION
ASSET RETIREMENT OBLIGATION	NOTE 6 – ASSET RETIREMENT OBLIGATION: Remediation, reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties as well as remediation costs for inactive properties. The Company uses assumptions about future costs, capital costs and reclamation costs. Such assumptions are based on the Company’s current mining plan and the best available information for making such estimates. On an ongoing basis, management evaluates its estimates and assumptions; however, actual amounts could differ from those based on such estimates and assumptions. Changes to the Company’s asset retirement obligation on its mineral properties are as follows: 2022 2021 Beginning balance $ 118,247 $ 112,615 Accretion expense 5,912 5,632 Ending balance $ 124,159 $ 118,247 Management’s evaluation of the ARO at September 30, 2022 and 2021, did not indicate that a revision to the ARO was needed.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2022
INCOME TAXES
INCOME TAXES	NOTE 7 – INCOME TAXES: At September 30, 2022 and 2021, the Company did not record a tax provision or benefit due to continuing losses and availability of net operating loss carry forwards. At September 30, 2022 and 2021, the Company had deferred tax assets arising principally from net operating loss carryforwards for income tax purposes. As the Company’s management cannot determine that it is more likely than not that the Company 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, 2022 and 2021. The components of the Company’s deferred taxes at September 30, 2022 and 2021 are as follows: Timberline Resources Corp. 2022 2021 Net deferred tax assets: Exploration costs $ 127,000 $ 130,000 Investments in subsidiaries 184,000 184,000 Share-based compensation 362,000 350,000 Federal and state net operating loss carryforwards 12,163,000 11,752,000 Foreign net operating loss carryforwards 1,803,000 1,803,000 Total deferred tax asset 14,639,000 14,219,000 Valuation allowance (14,639,000 ) (14,219,000 ) Net deferred tax asset $ - $ - BH Minerals USA, Inc. Net deferred tax assets (liabilities): Property, mineral rights, and equipment $ (2,260,000 ) $ (2,261,000 ) Exploration costs 255,000 296,000 Federal and state net operating loss carryforwards 5,353,000 4,425,000 Total deferred tax asset 3,348,000 2,460,000 Valuation allowance (3,348,000 ) (2,460,000 ) Net deferred tax asset $ - $ - The federal income taxes of the Company’s 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 the Company’s Canadian subsidiary, Staccato Gold Resources Ltd. The annual tax benefit is different from the amount that would be provided by applying the statutory federal income tax rate to the Company’s pretax loss for the following reasons: 2022 2021 Net Loss $ (5,962,000 ) $ (4,708,000 ) Statutory Federal income tax rate 21.0 % 21.0 % Expected income tax benefit based on statutory rate (1,252,000 ) (989,000 ) Effect of state taxes (61,000 ) (98,000 ) Effect of change in tax rates - (67,000 ) Change in valuation allowance 1,308,000 (346,000 ) Expiration of stock options in prior years - 1,277,000 Prior year change in estimates 5,000 223,000 Income tax provision $ - $ - At September 30, 2022, Timberline Resources Corp had total federal net operating loss carryforwards of approximately $52.6 million, of which $44.8 million expire in fiscal years ending September 30, 2024 through September 30, 2038. Federal net operating loss carryforwards of $7.8 million will not expire and the usage of these loss carryforwards is limited to 80% of taxable income. State net operating losses total approximately $22.7 million and will expire in fiscal years ending September 30, 2023 through September 30, 2042. BH Minerals has total federal net operating loss carryforwards of approximately $25.5 million, of which $15.8 million expire in fiscal years ending September 30, 2025 through September 30, 2038. Federal net operating loss carryforwards of $9.7 million will not expire and the usage of these loss carryforwards is limited to 80% of taxable income. At September 30, 2022, the Company also has approximately $6.7 million in net operating loss carryforwards in Canada which will expire in fiscal years ending September 30, 2024 through September 30, 2032. The Company has not identified any unrecognized tax benefits. If interest and penalties were to be assessed, the Company would charge interest to interest expense, and penalties to other operating expense. Fiscal years 2019 through 2022 remain subject to examination by state and federal tax authorities. The Company has reviewed its tax returns and believes the Company has not taken any unsubstantiated tax positions. IRS Code Section 382 limits the loss and credit carryforwards in the event of an “ownership change” of a corporation. The equity placement activities during the year ended September 30, 2022 did not give rise to an ownership change under Section 382. As a result of previous acquisitions, the Company acquired approximately $15,000,000 of federal net operating loss carryovers that are limited by Code Section 382. As of September 30, 2022, the Company has not determined if any other losses are limited by IRS Code Section 382.

COMMON STOCK, WARRANTS AND PREF

COMMON STOCK, WARRANTS AND PREFERRED STOCK	12 Months Ended
	Sep. 30, 2022
COMMON STOCK, WARRANTS AND PREFERRED STOCK
COMMON STOCK, WARRANTS AND PREFERRED STOCK	NOTE 8 – 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. Private Placements On June 25, 2021, the Company closed on total subscriptions for a private placement offering for 23,070,798 units of the Company at a price of $0.20 per unit. Each Unit consisted of one share of common stock of the Company and one-half common share purchase Series M Warrant (each whole such warrant a “Warrant”), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.30 per share until the Warrant expiration date of May 31, 2023. A total of 23,070,798 shares and 11,535,399 Warrants issued for net proceeds of $4,475,818 to the Company, net of $138,342 finders fees to third parties. In addition, 596,248 Series M Warrants were issued for finders fees. On May 2, 2022, the Company closed a non-brokered private placement of the Company to accredited investors at a price of $0.25 per common share. The Company issued 18,933,705 common shares for cash proceeds of $4,733,426. Finders fees in the amount of $293,839 and 1,016,022 Series N Warrants were paid and issued, respectively, to licensed brokers and consultants in association with the offering. The warrants have a term of 18 months and are exercisable at $0.25 per common share. Warrants During the fiscal year ended September 30, 2021, 12,131,647 Series M Warrants were issued pursuant to a private placement offering. A total of 4,550,000 warrants were exercised for shares of common stock for a total of $637,001 cash proceeds to the Company. During the fiscal year ended September 30, 2022, 1,016,022 Series N Warrants were issued pursuant to licensed brokers and consultants in association with the private placement offering. A total of 1,046,425 Series H Warrants were exercised for shares of common stock for a total of $146,499 cash proceeds to the Company. Total warrants of 16,271,016 and 9,000,000 expired during the fiscal years ended September 30, 2022 and 2021, respectively. There were 57,414,898 and 74,216,319 warrants outstanding as of September 30, 2022 and 2021, respectively. The following is a summary of warrants as of September 30, 2022: Shares Exercise Price ($) Expiration Date Series C Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 2,880,867 0.45 October 31, 2022 Outstanding and exercisable at September 30, 2021 2,880,867 Outstanding and exercisable at September 30, 2022 2,880,867 Series D Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 7,500,000 0.14 April 30, 2021 Exercised (3,500,000 ) Expired (4,000,000 ) Outstanding and exercisable at September 30, 2021 and 2022 - Series D-2 Warrants: (Issued for Mineral Property Purchase) Outstanding and exercisable at September 30, 2020 5,000,000 0.24 May 23, 2021 Expired (5,000,000 ) Outstanding and exercisable at September 30, 2021 and 2022 - Series E Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 7,500,000 0.14 October 29, 2021 Exercised (675,000 ) Outstanding and exercisable at September 30, 2021 6,825,000 Expired (6,825,000 ) Outstanding and exercisable at September 30, 2022 - Series G Warrants: (Issued for Mineral Property Purchase) Outstanding and exercisable at September 30, 2020 5,000,000 0.24 December 18, 2021 Outstanding and exercisable at September 30, 2021 5,000,000 Expired (5,000,000 ) Outstanding and exercisable at September 30, 2022 - Series H Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 6,367,441 0.14 March 22, 2022 Exercised (375,000 ) Outstanding and exercisable at September 30, 2021 5,992,441 Exercised (1,546,425 ) Expired (4,446,016 ) Outstanding and exercisable at September 30, 2022 - Series J Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 3,750,000 0.12 October 15, 2024 Outstanding and exercisable at September 30, 2021 3,750,000 Outstanding and exercisable at September 30, 2022 3,750,000 Series K Warrants: (Issued for Extension of Unsecured Note Payable) Outstanding and exercisable at September 30, 2020 4,000,000 0.08 January 20, 2023 Outstanding and exercisable at September 30, 2021 4,000,000 Outstanding and exercisable at September 30, 2022 4,000,000 Series L Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 33,636,362 0.20 August 15, 2023 Outstanding and exercisable at September 30, 2021 33,636,362 Outstanding and exercisable at September 30, 2022 33,636,362 Series M Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2021 12,131,647 0.30 May 21, 2023 Outstanding and exercisable at September 30, 2022 12,131,647 Series N Warrants: (Issued for Private Placement) Issued May 2, 2022 1,016,022 0.25 May 2, 2024 Outstanding and exercisable at September 30, 2022 1,016,022 Weighted average remaining contractual term is 0.84 years at September 30, 2022 Warrants outstanding and weighted average exercise price at September 30, 2022 57,414,898 0.22 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 was no preferred stock issued as of September 30, 2022 and 2021.

STOCK-BASED AWARDS

STOCK-BASED AWARDS	12 Months Ended
	Sep. 30, 2022
STOCK-BASED AWARDS
STOCK-BASED AWARDS	NOTE 9 – STOCK-BASED AWARDS: During the year ended September 30, 2019, 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 could be issued to employees, directors, and consultants under all stock-based awards made under the 2018 Stock and Incentive Plan was 8 million shares of the Company’s common stock. 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 fair value of the Company’s stock at the date of grant. On October 8, 2020, the Company granted a total of 750,000 options to purchase shares of the Company’s common stock that vest over a three-year period. These vesting options had a total fair value of $177,284, with $44,322 recognized immediately and $44,321 being recognized in each of following three years covered by the vesting period. An additional 350,000 options with the same terms were also granted on this date that vested immediately with a total fair value of $82,700. 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. All options vested upon issuance. The share-based compensation for the option awards granted during 2021 recognized during the years ended September 30, 2022 and 2021 was $44,321 and $646,422, respectively. Unrecognized compensation of $88,642 will be recognized over the next 13 months. 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 % Fair value of vested options at grant date $ 519,400 $ 259,984 The cost of options granted to employees is recorded as salaries and benefits, and the cost of options granted to directors and consultants is recorded as other general and administrative expenses. The total compensation cost of options vested under the plan, charged against operations, is included in the consolidated statements of operations as follows: Fiscal year ended September 30, 2022 2021 Salaries and benefits $ 44,321 $ 271,522 Other general and administrative expenses - 374,900 Total $ 44,321 $ 646,422 The following is a summary of the Company’s options issued under the Amended 2005 Equity Incentive Plan, the 2015 Stock and Incentive Plan and the 2018 Stock and Incentive Plan: Options Weighted Average Exercise Price Outstanding at September 30, 2021 8,335,000 0.18 Outstanding at September 30, 2022 8,335,000 $ 0.18 Exercisable at September 30, 2022 7,960,000 $ 0.17 Weighted average fair value of options granted during the fiscal year ended September 30, 2022 $ - Average remaining contractual term of options outstanding and exercisable at September 30, 2022 (years) 2.31 Intrinsic value of options outstanding at September 30, 2022 $ 79,500 Intrinsic value of options exercisable at September 30, 2022 $ 79,500

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 10 – 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. These claims payments are included in exploration expense. Should the Company continue to explore all of the Company’s mineral properties, it expects annual fees to total $236,277 per year in the future.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis Of Presentation And Going Concern	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 has incurred losses since its inception. The Company has sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds. 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 equity and/or debt 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.
New Accounting Pronouncements	b. New Accounting Pronouncements - In August 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-06 Debt - Debt With Conversion And Other Options (Subtopic 470-20) And Derivatives And Hedging - Contracts In Entity’s Own Equity (Subtopic 815-40): Accounting For Convertible Instruments And Contracts In An Entity’s Own Equity. The update simplifies the accounting for and disclosures related to company debt that is convertible or can be settled in a company’s own equity securities. The update is effective for fiscal years beginning after December 15, 2023 and with early adoption permitted. The Company early adopted the update effective October 1, 2021, which had no impact on the Company’s consolidated financial statements. 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.
Principles Of Consolidation	c. Principles of Consolidation
Property and Equipment	d. Property and Equipment
Mineral Rights, Capitalization and Exploration Expenditures	e. Mineral Rights, Capitalization and Exploration Expenditures
Property Holding Costs	f. Property Holding Costs
Fair Value Measurement	g. Fair Value Measurements At September 30, 2022 and 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 September 30, 2022 and 2021.
Cash Equivalents	h. Cash Equivalents
Reclamation Bonds	I. Reclamation Bonds
Estimates And Assumptions	j. Estimates and Assumptions
Accounting for Investments in Joint Ventures	k. Accounting for Investments in Joint Ventures - The Company recognizes as income funds that are received from distributions from net accumulated earnings of the joint venture. For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of a non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. The Company has no significant influence over its joint ventures, and therefore accounts for its investment using the cost less impairment basis. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations.
Asset Impairments	l. Asset Impairments - Carrying Value of Property, Mineral Rights and Equipment
Asset Retirement Obligations	m. Asset Retirement Obligations –
Provision for Income Taxes	n. Provision for Income Taxes Uncertain tax positions are evaluated in a two-step process, whereby (i) it is determined whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the related tax authority would be recognized.
Translation of Foreign Currencies	o. Translation of Foreign Currencies
Stock-based Compensation	p. Stock-based Compensation The fair 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.
Net Income (loss) Per Share	q. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities as of September 30, 2022 and 2021 is as follows: 2022 2021 Stock options 8,335,000 8,335,000 Warrants 57,414,898 74,216,319 Total potential dilution 65,749,898 82,551,319 At September 30, 2022 and 2021, the effect of the Company’s common stock equivalents would have been anti-dilutive. Accordingly, only basic EPS is presented.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Sep. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule Of Anti-dilutive Basic Of Eps	2022 2021 Stock options 8,335,000 8,335,000 Warrants 57,414,898 74,216,319 Total potential dilution 65,749,898 82,551,319

PROPERTY MINERAL RIGHTS AND E_2

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Tables)	12 Months Ended
	Sep. 30, 2022
PROPERTY MINERAL RIGHTS AND EQUIPMENT
Property, Plant And Equipment	Expected Useful Lives (years) 2022 2021 Mineral rights – Eureka - $ 13,786,608 $ 13,704,608 Mineral rights – Seven Troughs, New York Canyon and other - 142,770 65,000 Total mineral rights 13,929,378 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 $ 13,980,855 $ 13,821,085

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Sep. 30, 2022
ASSET RETIREMENT OBLIGATION (Tables)
Schedule of Asset Retirement Obligations	2022 2021 Beginning balance $ 118,247 $ 112,615 Accretion expense 5,912 5,632 Ending balance $ 124,159 $ 118,247

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2022
INCOME TAXES
Schedule of Deferred Tax Asset	Timberline Resources Corp. 2022 2021 Net deferred tax assets: Exploration costs $ 127,000 $ 130,000 Investments in subsidiaries 184,000 184,000 Share-based compensation 362,000 350,000 Federal and state net operating loss carryforwards 12,163,000 11,752,000 Foreign net operating loss carryforwards 1,803,000 1,803,000 Total deferred tax asset 14,639,000 14,219,000 Valuation allowance (14,639,000 ) (14,219,000 ) Net deferred tax asset $ - $ - BH Minerals USA, Inc. Net deferred tax assets (liabilities): Property, mineral rights, and equipment $ (2,260,000 ) $ (2,261,000 ) Exploration costs 255,000 296,000 Federal and state net operating loss carryforwards 5,353,000 4,425,000 Total deferred tax asset 3,348,000 2,460,000 Valuation allowance (3,348,000 ) (2,460,000 ) Net deferred tax asset $ - $ -
Schedule of Federal Income Tax Rate	2022 2021 Net Loss $ (5,962,000 ) $ (4,708,000 ) Statutory Federal income tax rate 21.0 % 21.0 % Expected income tax benefit based on statutory rate (1,252,000 ) (989,000 ) Effect of state taxes (61,000 ) (98,000 ) Effect of change in tax rates - (67,000 ) Change in valuation allowance 1,308,000 (346,000 ) Expiration of stock options in prior years - 1,277,000 Prior year change in estimates 5,000 223,000 Income tax provision $ - $ -

COMMON STOCK, WARRANTS AND PR_2

COMMON STOCK, WARRANTS AND PREFERRED STOCK (Tables)	12 Months Ended
	Sep. 30, 2020
COMMON STOCK, WARRANTS AND PREFERRED STOCK
summary of warrants	Shares Exercise Price ($) Expiration Date Series C Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 2,880,867 0.45 October 31, 2022 Outstanding and exercisable at September 30, 2021 2,880,867 Outstanding and exercisable at September 30, 2022 2,880,867 Series D Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 7,500,000 0.14 April 30, 2021 Exercised (3,500,000 ) Expired (4,000,000 ) Outstanding and exercisable at September 30, 2021 and 2022 - Series D-2 Warrants: (Issued for Mineral Property Purchase) Outstanding and exercisable at September 30, 2020 5,000,000 0.24 May 23, 2021 Expired (5,000,000 ) Outstanding and exercisable at September 30, 2021 and 2022 - Series E Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 7,500,000 0.14 October 29, 2021 Exercised (675,000 ) Outstanding and exercisable at September 30, 2021 6,825,000 Expired (6,825,000 ) Outstanding and exercisable at September 30, 2022 - Series G Warrants: (Issued for Mineral Property Purchase) Outstanding and exercisable at September 30, 2020 5,000,000 0.24 December 18, 2021 Outstanding and exercisable at September 30, 2021 5,000,000 Expired (5,000,000 ) Outstanding and exercisable at September 30, 2022 - Series H Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 6,367,441 0.14 March 22, 2022 Exercised (375,000 ) Outstanding and exercisable at September 30, 2021 5,992,441 Exercised (1,546,425 ) Expired (4,446,016 ) Outstanding and exercisable at September 30, 2022 - Series J Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 3,750,000 0.12 October 15, 2024 Outstanding and exercisable at September 30, 2021 3,750,000 Outstanding and exercisable at September 30, 2022 3,750,000 Series K Warrants: (Issued for Extension of Unsecured Note Payable) Outstanding and exercisable at September 30, 2020 4,000,000 0.08 January 20, 2023 Outstanding and exercisable at September 30, 2021 4,000,000 Outstanding and exercisable at September 30, 2022 4,000,000 Series L Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2020 33,636,362 0.20 August 15, 2023 Outstanding and exercisable at September 30, 2021 33,636,362 Outstanding and exercisable at September 30, 2022 33,636,362 Series M Warrants: (Issued for Private Placement) Outstanding and exercisable at September 30, 2021 12,131,647 0.30 May 21, 2023 Outstanding and exercisable at September 30, 2022 12,131,647 Series N Warrants: (Issued for Private Placement) Issued May 2, 2022 1,016,022 0.25 May 2, 2024 Outstanding and exercisable at September 30, 2022 1,016,022 Weighted average remaining contractual term is 0.84 years at September 30, 2022 Warrants outstanding and weighted average exercise price at September 30, 2022 57,414,898 0.22

STOCK-BASED AWARDS (Tables)

STOCK-BASED AWARDS (Tables)	12 Months Ended
	Sep. 30, 2020
STOCK-BASED AWARDS
summary of Fair value of vested options	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 % Fair value of vested options at grant date $ 519,400 $ 259,984
summary of total compensation cost of options vested	Fiscal year ended September 30, 2022 2021 Salaries and benefits $ 44,321 $ 271,522 Other general and administrative expenses - 374,900 Total $ 44,321 $ 646,422
summary of Stock Options, Activity	Options Weighted Average Exercise Price Outstanding at September 30, 2021 8,335,000 0.18 Outstanding at September 30, 2022 8,335,000 $ 0.18 Exercisable at September 30, 2022 7,960,000 $ 0.17 Weighted average fair value of options granted during the fiscal year ended September 30, 2022 $ - Average remaining contractual term of options outstanding and exercisable at September 30, 2022 (years) 2.31 Intrinsic value of options outstanding at September 30, 2022 $ 79,500 Intrinsic value of options exercisable at September 30, 2022 $ 79,500

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
Stock options	8,335,000	8,335,000
Warrants	57,414,898	74,216,319
Total potential dilution	65,749,898	82,551,319

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Sep. 30, 2022 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
Substantial Doubt about Going Concern, Conditions or Events	The Company has incurred losses since its inception. The Company has sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds. 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 equity and/or debt capital to fund future exploration and working capital requirements, or the Company’s ability to profitably execute its business plan.
Federal Deposit Insurance Corporation	$ 250,000
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. 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.

PROPERTY MINERAL RIGHTS AND E_3

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Property, Plant And Equipment, Gross	$ 175,305	$ 175,305
Less Accumulated Depreciation	(123,828)	(123,828)
Property, Mineral Rights, And Equipment, Net	13,980,855	13,821,085
Mineral Rights	13,929,378	13,769,608
Equipment and vehicles
Property, Plant And Equipment, Gross	$ 53,678	53,678
Equipment and vehicles | Minimum
Expected Useful Lives (years)	2 years
Equipment and vehicles | Maximum
Expected Useful Lives (years)	5 years
Office equipment and furniture
Property, Plant And Equipment, Gross	$ 70,150	70,150
Office equipment and furniture | Minimum
Expected Useful Lives (years)	3 years
Office equipment and furniture | Maximum
Expected Useful Lives (years)	7 years
Land
Property, Plant And Equipment, Gross	$ 51,477	51,477
Mineral rights - Eureka
Mineral Rights	13,786,608	13,704,608
Mineral rights - Other
Mineral Rights	$ 142,770	$ 65,000

PROPERTY MINERAL RIGHTS AND E_4

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 26, 2022	Sep. 30, 2022	Sep. 30, 2021	May 31, 2022
Common Stock
Proceeds From Lease Of Mineral Rights		$ 0	$ 78,570
Depreciation expense		$ 0	$ 0
Equipment and vehicles | Normandy Gold Limited
Earn-in joint venture agreement	12 years
Option solely fund	$ 250,000
Option solely fund period	6 years
Shares issued	2,000,000
Interest earn	75%
Initial interest earn	51%
Exploration expenditures	$ 2,000,000
Equipment and vehicles | Normandy Gold Limited | Earn In Period Member
Earn-in period description		During the Earn-In Period, NDY will be the operator of the project and be responsible for payment of annual federal and county claim fees. NDY may withdraw from the Earn-In after spending $100,000, or if the transfer of claims ownership to the Company is not successfully completed within 24 months of commencement of the Earn-In Period
Equipment and vehicles | Normandy Gold Limited | Joint Venture Period Member
Exploration expenditures		$ 3,000,000
Common shares issued		2,000,000
Initial non-refundable cash payment received				$ 50,000
Equipment and vehicles | Normandy Gold Limited | Twelve Months Member
Exercising the exclusive option expenditures		$ 100,000
Equipment and vehicles | Normandy Gold Limited | Twenty Four Months Member
Exercising the exclusive option expenditures		500,000
Additional option expense		400,000
Exercising option payment		100,000
Equipment and vehicles | Normandy Gold Limited | Thirty Six Months Member
Exercising the exclusive option expenditures		2,000,000
Additional option expense		1,500,000
Exercising option payment		$ 150,000
Additional Interest earn	0%	24%
Equipment and vehicles | Normandy Gold Limited | September 28,2022 Member | New York Canyon Member
New york canyon description		the Company purchased five patented mining claims, comprising of a total of 28.82 acres commonly known as the Tiger Lilly, Eureka Giant, Southern Cross, Maria and Best & Belcher patents with and near the New York Canyon claim block, from the University of Nevada, Reno Foundation for a total of $86,460. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. Two of the patented claims are not within the New York Canyon claim block, but will be included with this designation on the Company’s claims record refer
Equipment and vehicles | Normandy Gold Limited | August 23,2022 Member | New York Canyon Member
New york canyon description		the Company purchased one patented mining claim, comprising of a total of 13.77 acres commonly known as the South Wales #1 patent within the New York Canyon claim block, from Newmont Capital Limited for a total of $41,310. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller
Equipment and vehicles | Normandy Gold Limited | October 26,2022 Member | New York Canyon Member
New york canyon description		During the fourth quarter of fiscal 2022 and first quarter of fiscal 2023, the Company purchased an interest in three patented claims within the New York Canyon claim block, from private parties. In conjunction with the purchase, the Company granted a 0.5% net smelter return royalty to the sellers. The combined purchase price will be capitalized in the first quarter of fiscal 2023 as a mineral property on the Company’s balance sheet.
Equipment and vehicles | CIT Microprobe Holdings, LLC
Lease term period		50 years
Purchase agreement in cash		$ 50,000

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
William Matlack [Member]
Owed To Related Party For Expenses	$ 60,750	$ 49,100

SENIOR UNSECURED NOTE PAYABLE R

SENIOR UNSECURED NOTE PAYABLE RELATED PARTY (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 30, 2018	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Interest Expense		$ 0	$ 1,473
Senior Unsecured Notes Payable, Transaction #1
Debt Instrument, Face Amount		$ 300,000	270,991
Interest Annual, Rate	18%
Senior Unsecured Notes Interest Paid
Reduction Of Principal And Interest Accrued, Rate		25%
Debt Instrument, Increase, Accrued Interest		$ 57,966	4,145
Interest Expense		55,660	82,643
Senior Unsecured Note Payable		$ 270,991	270,991
Senior Unsecured Notes Interest Paid | Private Placement Financing
Principal Senior Unsecured Debt				$ 29,009
Debt Instrument, Interest Rate		18%
Debt Instrument, Maturity Date		Jan. 20, 2023
Interest On Senior Unsecured Debt			$ 220,991

ASSET RETIREMENT OBLIGATION (De

ASSET RETIREMENT OBLIGATION (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
ASSET RETIREMENT OBLIGATION (Details)
Asset Retirement Obligation, Beginning Balance	$ 118,247	$ 112,615
Asset Retirement Obligation, Ending Balance	124,159	118,247
Accretion of asset retirement obligation	$ 5,912	$ 5,632

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Sep. 30, 2022	Sep. 30, 2021
Timberline
Deferred Tax Assets, Gross	$ 14,639,000	$ 14,219,000
Valuation allowance	(14,639,000)	(14,219,000)
Net deferred tax asset	0	0
Timberline | Exploration Costs Member[Member]
Deferred Tax Assets, Gross	127,000	130,000
Timberline | Investments in subsidiaries [Member]
Deferred Tax Assets, Gross	184,000	184,000
Timberline | Share-based compensation [Member]
Deferred Tax Assets, Gross	362,000	350,000
Timberline | Foreign net operating loss carryforwards [Member]
Deferred Tax Assets, Gross	1,803,000	1,803,000
BH Minerals
Deferred Tax Assets, Gross	3,348,000	2,460,000
Valuation allowance	(3,348,000)	(2,460,000)
Net deferred tax asset	0	0
BH Minerals | Property, mineral rights, and equipment [Member]
Deferred Tax Assets, Gross	2,260,000	2,261,000
BH Minerals | Exploration costs1 [Member]
Deferred Tax Assets, Gross	$ 255,000	$ 296,000

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Taxes (Details)
Net Loss	$ (5,962,000)	$ (4,708,000)
Statutory Federal income tax rate	21%	21%
Expected income tax benefit based on statutory rate	$ (1,252,000)	$ (989,000)
Effect of state taxes	(61,000)	(98,000)
Effect of change in tax rates	0	(67,000)
Change in valuation allowance	1,308,000	(346,000)
Expiration of stock options in prior years	0	1,277,000
Prior year change in estimates	5,000	223,000
Income tax provision	$ 0	$ 0

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	Sep. 30, 2022 USD ($)
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 22,700,000
Federal net operating loss	15,000,000
Timberline
Federal net operating loss	52,600,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	7,800,000
BH Minerals
Federal net operating loss	25,500,000
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	9,700,000
In Canada
Federal net operating loss	$ 6,700,000

COMMON STOCK, WARRANTS AND PR_3

COMMON STOCK, WARRANTS AND PREFERRED STOCK (Details) - $ / shares		1 Months Ended
	May 02, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2022
Class H Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.14
Warrants expiration date			Mar. 22, 2022
Warrants outstanding and exercisable		5,992,441	6,367,441	0
Warrants exercised			(375,000)
Class D Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.14
Warrants expiration date			Apr. 30, 2021
Warrants outstanding and exercisable		0	7,500,000	0
Warrants expired			(4,000,000)
Warrants exercised			(3,500,000)
Class J Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.12
Warrants expiration date			Oct. 15, 2024
Warrants outstanding and exercisable		3,750,000	3,750,000	3,750,000
Class K Warrants: (Issued for Extension of Unsecured Note Payable)
Warrant exercise price			$ 0.08
Warrants expiration date			Jan. 20, 2023
Warrants outstanding and exercisable		4,000,000	4,000,000	4,000,000
Class L Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.20
Warrants expiration date			Aug. 15, 2023
Warrants outstanding and exercisable		33,636,362	33,636,362	33,636,362
Class M Warrants (Issued for private placement)
Warrant exercise price		$ 0.30
Warrants expiration date		May 21, 2023
Warrants outstanding and exercisable		12,131,647		12,131,647
Class N Warrants: (Issued for Unsecured Note Payable)
Warrant exercise price	$ 0.25			$ 0.22
Warrants expiration date	May 02, 2024
Warrants outstanding and exercisable				1,016,022
Warrants outstanding and weighted average exercise price at September 30, 2022				57,414,898
Weighted average remaining contractual term	10 months 2 days
Warrants Issued	1,016,022
Class C Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.45
Warrants expiration date			Oct. 31, 2022
Warrants outstanding and exercisable		2,880,867	2,880,867	2,880,867
Class D-2 Warrants: (Issued for Mineral Property Purchase)
Warrant exercise price			$ 0.24
Warrants expiration date			May 23, 2021
Warrants outstanding and exercisable			5,000,000
Warrants expired			(5,000,000)
Class E Warrants: (Issued for Private Placement)
Warrant exercise price			$ 0.14
Warrants expiration date			Oct. 29, 2021
Warrants outstanding and exercisable		6,825,000	7,500,000	0
Warrants expired		6,825,000
Warrants exercised			(675,000)
Class G Warrants: (Issued for Mineral Property Purchase)
Warrant exercise price			$ 0.24
Warrants expiration date			Dec. 18, 2021
Warrants outstanding and exercisable		5,000,000	5,000,000	0
Warrants expired		(5,000,000)

COMMON STOCK, WARRANTS AND PR_4

COMMON STOCK, WARRANTS AND PREFERRED STOCK (Details Narrative) - USD ($)		1 Months Ended		12 Months Ended
	May 02, 2022	Jun. 25, 2021	Apr. 14, 2021	Sep. 30, 2022	Sep. 30, 2021
Preferred Stock, Shares Authorized				10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share				$ 0.01	$ 0.01
Description Of Authorized Common Shares			the shareholders approved an increase in the number of authorized common shares of the Company from 200,000,000 to 500,000,000
Warrants Outstanding				$ 57,414,898	$ 74,216,319
Exercised, shares	18,933,705
Cash Proceeds Common Stock, Shares	$ 4,733,426
Subscription Receivable		23,070,798
Proceeds from subscribed shares				333,333
Par Value Of Acquire Common Stock		$ 0.20
Series H Warrants
Cash Proceeds Common Stock, Shares				$ 146,499
Warrants Exercised, Shares				1,046,425
Warrants Expired				16,271,016	9,000,000
Series M Warrants [Member]
Exercised, shares				11,535,399
Cash Proceeds Common Stock, Shares					$ 637,001
Weighted Average Exercise Price		$ 0.30
Total shares				23,070,798
Warrants Issued					12,131,647
Warrants received		596,248
Net		$ 138,342
Warrants expiration term		May 31, 2023
Additional brokers warrants				102,000
Net proceeds		$ 4,475,818
Warrants Exercised, Shares					4,550,000
Series N Warrants
Weighted Average Exercise Price				$ 0.25
Total shares	1,016,022
Warrants Issued				1,016,022
Warrants term	18 years
Finder fess	$ 293,839

STOCKBASED AWARDS (Details)

STOCKBASED AWARDS (Details) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
STOCKBASED AWARDS (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%	0%
Fair value of vested options at grant date	$ 519,400	$ 259,984

STOCKBASED AWARDS (Details1)

STOCKBASED AWARDS (Details1) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
STOCKBASED AWARDS (Details)
Salaries and benefits	$ 44,321	$ 271,522
Other general and administrative expenses	0	374,900
Total	$ 44,321	$ 646,422

STOCKBASED AWARDS (Details2)

STOCKBASED AWARDS (Details2) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
STOCKBASED AWARDS (Details)
Outstanding	8,335,000	8,335,000
Weighted Average Exercise Price, Outstanding	$ 0.18	$ 0.18
Share-Based Payment Award, Options, Exercisable, Number of shares	7,960,000
Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise price	$ 0.17
Weighted average fair value of options granted during the fiscal year ended September 30, 2022 Weighted Average	$ 0
Average remaining contractual term of options outstanding and exercisable Weighted Average at September 30, 2022 (years)	2 years 3 months 21 days
Intrinsic value of options exercisable at September 30, 2022	$ 79,500
Intrinsic value of options outstanding and exercisable	$ 79,500

STOCKBASED AWARDS (Details Narr

STOCKBASED AWARDS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Common Stock Reserved For Issuance	15,000,000
Common Stock Reserved For Incentive Stock Options	10,000,000
Total	$ 44,321	$ 646,422
Black Scholes Option Pricing Model
Total	44,321	$ 646,422
Stock option, cost not yet recognized, amount	$ 88,642
Stock-based Award One [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Options, Grants In Period, Net Of Forfeitures	750,000
Granted Options Fair Value Recognized	44,322
Granted Options Fair Value Recognized In Future	44,321
Granted Options Total Fair Value	177,284
Granted Options Total Fair Value Future	82,700
Granted Options Total Fair Value additional	350,000
Stock-based Award Two [Member]
Share-based Compensation Arrangement By Share-based Payment Award, Options, Grants In Period, Net Of Forfeitures	2,785,000
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.25

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	12 Months Ended
	Sep. 30, 2022 USD ($)
COMMITMENTS AND CONTINGENCIES
Mineral Properties Annual Fees	$ 236,277