FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Matlack William Fuller
2. Date of Event Requiring Statement (MM/DD/YYYY)
10/23/2019 

3. Issuer Name and Ticker or Trading Symbol

Timberline Resources Corp [TLRS]
(Last)        (First)        (Middle)

C/O TIMBERLINE RESOURCES CORP., 101 EAST LAKESIDE AVENUE
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                          ___X___ 10% Owner
_____ Officer (give title below)        _____ Other (specify below)
(Street)

COEUR D'ALENE, ID 83814      

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed(MM/DD/YYYY)
1/10/2020 

6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common stock 13021679 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Series D Warrants 9/9/2018 (1)4/30/2021 Common shares 2025000 $0.14 D  
Series E Warrants 3/9/2019 (1)10/29/2021 Common shares 3678979 $0.14 D  
Series I Warrants 11/9/2019 (1)11/7/2020 Common shares 3543600 $0.07 D  
Series J Warrants 2/24/2020 (1)10/15/2024 Common shares 3562500 $0.12 D  
Series K Warrants 4/8/2020 (1)1/20/2023 Common shares 4000000 $0.08 D  
Stock options 10/29/2019 10/29/2024 Common shares 404348 $0.08 D  

Explanation of Responses:
(1) Warrants may not be exercised, except within 61 days of expiration, if such exercise would cause holder to beneficially own or exercise control or direction over 9.99% or greater of the issued and outstanding voting shares of the issuer. Warrants may not be exercised if such exercise would cause holder to beneficially own or exercise control or direction over 19.99% or greater of the issued and outstanding voting shares of the issuer.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Matlack William Fuller
C/O TIMBERLINE RESOURCES CORP.
101 EAST LAKESIDE AVENUE
COEUR D'ALENE, ID 83814
XX


Signatures
William Matlack1/10/2020
**Signature of Reporting PersonDate

Timberline Resources (QB) (USOTC:TLRS)
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