Treasury drills 12.25 m of 4.05 g/t Au at Goliath

May 6, 2014

TREASURY METALS DELIVERS SOLID DRILL RESULTS ACROSS GOLIATH GOLD DEPOSIT

Treasury Metals Inc. has released new results from the continuing drilling and development program at the Goliath gold project located in Northwestern Ontario.

Treasury’s current exploration program is focused on the developing C zone horizon both near surface and at depth. The company has also commenced a delineation program of the Main zone to tighten grades of proposed underground stopes and extend limits of known mineralization.

The company is on track to submit the Goliath gold project’s environmental impact statement to the Canadian Environmental Assessment Agency in third quarter 2014.

Highlights of the latest drill results include:

Holes TL14-349 and 350 delivered intercepts that currently rest outside the proposed C zone western pit shell. TL14-350 encountered 6.7 metres at 5.39 grams per tonne gold at a vertical depth of 60 metres from surface, and TL14-349 intercepted 9.3 m at 2.2 g/t Au, approximately 30 metres below TL14-350. Both results continue to potentially add new open-pit ounces.

An exploration hole located in a sparsely drilled area outside the indicated boundary of the developing western area of the C zone, hole TL14-346A, intersected 6.4 m at 4.32 g/t Au. The company has reported a number of encouraging intercepts within this developing high-grade area of the C zone. The C zone remains a high-priority exploration target that continues to remain open to the west and downplunge.

Highlights also include TL14-353, which intersected 12.25 m at 4.05 g/t Au, including six m at 6.51 g/t Au, in the hangingwall of the current Main zone, followed by an intersection of 3.25 m at 2.69 g/t Au in the footwall. TL14-353 is a delineation hole located in the Main zone central domain, occurring roughly 200 m down from surface. The hangingwall and footwall intersections continue to deliver solid grades while increasing confidence in the proposed underground stopes.

Presently, the company is completing geotechnical core drilling for the mine design which will be followed by additional infill and expansion drilling in the C zone and Main zone. Exploration modelling and targeting also continue along the Goliath gold project’s mineralized domain trending east-west.

                   GOLIATH DRILL RESULTS

Hole ID            From       To    Intercept        Au
                     (m)      (m)          (m)     (g/t)

TL14-346A           290      295         5.00      2.70
including           293      294         1.00     12.53
TL14-346A           317    323.4         6.40      4.32
including         319.4    320.4         1.00     27.23
TL14-347          36.95    44.45         7.50      0.88
TL14-347           78.5    81.45         2.95      3.08
TL14-348          76.43    80.81         4.38      0.77
TL14-349           48.5    50.65         2.15      2.78
TL14-349          112.7      122         9.30      2.20
TL14-350           46.2     53.7         7.50      0.30
TL14-350          79.33       86         6.67      5.39
including         81.33    82.33         1.00     28.41
TL14-351            416    431.4        15.40      2.42
including           426    431.4         5.40      5.00
TL14-352A           404   408.25         4.25      4.32
including        407.25   408.25         1.00     16.62
TL14-353            234   246.25        12.25      4.05
including           234      240         6.00      6.51
TL14-353            243   246.25         3.25      2.69

Intervals do not necessarily indicate true widths.

A full table of assays can be found on the company’s website.

Technical information in this press release has been reviewed and approved by Gerry Katchen, PGeo, who is the qualified person under the definitions established by National Instrument 43-101.

The company has implemented a quality assurance and quality control program to ensure sampling and analysis of all exploration work are conducted in accordance with the CIM exploration best practices guidelines. The drill core is sawn in half with one-half of the core sample shipped to Accurassay Laboratories in Thunder Bay, Ont. The other half of the core is retained for future assay verification and/or metallurgical testing. Other QA/QC procedures include the insertion of blind blanks and standards for every 10th sample in the sample stream. Selected quarter core duplicates were assayed for 5 per cent of the samples. The laboratory reassays 10 per cent of all samples (pulps and rejects) and additional checks are routinely run on anomalous values, including gravimetric analysis and pulp metallics. Gold analysis is conducted by lead collection, fire assay with atomic absorption and/or gravimetric finish on a 30-gram sample. Check assays by a secondary lab are completed as necessary.

http://www.treasurymetals.com/s/press_releases-cnw.asp