Operating Agreement between Timberline Resources Corporation and SMD
This Operating Agreement is made between Timberline Resources Corporation and another party, outlining the terms for their business operations together. It specifies each party’s responsibilities, management structure, and operational procedures. Certain confidential details, such as proposed rates, personnel, and work schedules, have been redacted for privacy and filed separately with the SEC. The agreement ensures both parties understand their roles and obligations in the joint operation.
* Note on Redacted Material: Sections under the heading “Proposed Rates”, “SMD Personnel”, and “Proposed
Work Schedule” in Exhibit B to this Agreement have been omitted pursuant to a Confidential Treatment Request
(“Request”) Timberline Resources Corporation filed with the United States Securities and Exchange Commission
(“SEC”) concurrently With the filing of the Form 10-K to which this Agreement is an exhibit. The omitted material
has been filed separately with the SEC as part of the request. The place of omitted provisions are indicated below
as “REDACTED”. Two pages contain omitted provisions.
