Organization, Consolidation and Presentation of Financial Statements

12 Months Ended

Sep. 30, 2011

Organization, Consolidation and Presentation of Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

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 2006, the Company acquired Kettle Drilling, Inc. and its Mexican subsidiary, World Wide Exploration S.A. de C.V. (“World Wide”).  In September 2008, Kettle Drilling, Inc. changed its name to Timberline Drilling Incorporated (“Timberline Drilling”).  Timberline Drilling provides drilling services to the mining and mineral exploration industries in the United States.

In June 2010, the Company acquired Staccato Gold Resources Ltd. (“Staccato”), a Canadian (British Columbia) corporation, engaged in the exploration for precious metal deposits and advancing them to production (see Note 7).

In September 2011, the Company announced it had signed a non-binding letter of intent to sell Timberline Drilling. Subsequent to September 30, 2011 the sale of Timberline Drilling was completed (see Notes 15 and 17).