Movers and Shakers May 27, 2010

Timberline gets acquisition note

Timberline Resources Corp. reported Wednesday that Staccato Gold Resources Ltd. has obtained the final order from the Supreme Court of British Columbia approving the proposed acquisition of Staccato by Timberline.

Timberline's shareholders will vote on the proposed plan of arrangement at their special meeting of shareholders to be held on Friday.

Timberline and Staccato expect to obtain all requisite approvals and meet all closing conditions, and they remain on track to close the transaction on or about June 2.

If Timberline receives the requisite shareholder approval for the acquisition, Staccato will voluntarily halt trading of its common shares (NYSE Amex:TLR) on the TSX Venture Exchange on Friday until the closing date, and Timberline's shares of common stock will resume trading on the TSX Venture Exchange in substitution for Staccato's common shares on June 3 under the symbol "TBR."

With the completion of this arrangement, Timberline will acquire Staccato's South Eureka property which includes a drill-tested exploration portfolio and the advanced-stage Lookout Mountain project, located along Nevada's Battle Mountain/Eureka trend, and approximately $5 million in cash.

Hecla resets meeting date

Hecla Mining Co. (NYSE:HL) announced Wednesday it adjourned a portion of the annual meeting of shareholders on Proposal 3 until June 18 to allow the holders of a majority of outstanding shares of common stock to vote on the matter. All other matters before the shareholders were completed at the meeting on May 21. The proposal concerns the adoption of Hecla's 2010 Stock Incentive Plan and the reservation of 20 million shares for the plan.

The adjournment with respect to Proposal 3 will be until 10 a.m. Pacific Time on Friday, June 18, at Hecla's corporate offices at 6500 North Mineral Drive, Suite 200 in Coeur d'Alene. At that meeting, a shareholder vote on the adoption of the 2010 Stock Incentive Plan will take place. The polls are currently open with respect to Proposal 3 only and will remain open until 10 a.m. June 18. The record date for purposes of eligibility to vote remains March 23.

As of May 21, approximately 97 million of the approximately 242 million outstanding shares eligible to vote have been voted, with approximately 72 percent of votes cast in favor of Proposal 3, 21 percent against and 7 percent abstaining. The meeting is being adjourned for the purpose of obtaining more shareholder votes on Proposal 3 in order to meet the New York Stock Exchange's requirement that a majority of outstanding common shares be voted on Proposal 3. Pending the adjourned meeting, shareholders holding shares as of the record date who have not yet voted can still vote on Proposal 3. Brokers cannot vote the shares on this non-routine matter, so shareholders holding shares through a brokerage firm must vote their shares for the purposes of receiving sufficient votes to decide this issue. Shareholders may also change their vote by executing a new proxy.

Orientation set for

apprenticeship program

The Workforce Development Task Force of Kootenai County has been working with local employers and school districts to expand its School-To-Registered-Apprenticeship Program (STRAP), which allows high school students the opportunity to participate in apprenticeship training as part of their high school classroom activities. It allows students to begin the program in their junior year if they are at least 16 years of age.

Because it is a registered program, the requirement of some occupations to not employ individuals under the age of 18 is waived. Many students are interested in STRAP, but the program cannot expand without more participating employers.

An orientation for all interested employers is scheduled for 3 p.m. June 2 at the Idaho Department of Labor, 1221 W. Ironwood Drive in Coeur d'Alene. For more information go to www.idahostrap.org or contact Jason Green at Riverbend Technical Academy at (208)769-5961.

If you have a new, relocated or expanded business, or announcement of events, promotions or awards, The Press wants to let our readers know. The service is free and items run Tuesday through Saturday. To get the word on the street on your movers and shakers, call city editor Bill Buley at 664-8176 Ext. 2016 or e-mail bbuley@cdapress.com.