Timberline Stockholders Approve Merger with McEwen Mining

Denver, CO / ACCESSWIRE / August 16, 2024 – Stockholders of Timberline Resources Corporation have approved the merger with McEwen Mining Inc. With over 99.98% favorable votes from 62.50% of Timberline's outstanding shares, the merger agreement moves forward.

The final voting results will be documented in a Form 8-K filed with the U.S. Securities and Exchange Commission. The transaction is expected to close around August 19, 2024.

In connection with the merger, Timberline and McEwen have arranged bridge financing, allowing Timberline to request loans up to a specified monthly budget. These loans bear 15% annual interest and mature on October 15, 2024, with provisions for different scenarios of merger agreement termination.

McEwen Mining Inc. operates gold and silver mines in North America and Argentina, while Timberline focuses on exploration projects in Nevada.