COEUR D'ALENE, IDAHO -- (Marketwire) -- 12/21/10 -- Timberline Resources Corporation (TSX VENTURE: TBR)(NYSE Amex: TLR) ('Timberline' or the 'Company') today reported updated information regarding development of the underground gold deposit at Butte Highlands, Montana based on a recent report from its joint venture partner, Highland Mining, LLC ('Highland'), an affiliate of Small Mine Development LLC.