Treasury Metals Incorporated

Treasury Metals Incorporated

April 14, 2010 09:44 ET

Treasury Metals Intersects 16.12 g/t Au at 700 Metres on Goliath Gold Project

TORONTO, ONTARIO--(Marketwire - April 14, 2010) - Treasury Metals Inc. ("Treasury" or the "Company") (TSX:TML) is pleased to announce further high-grade gold assay results from its recently announced +5,000 metre diamond drilling program targeting deeper gold mineralization on its Goliath Gold Project. The 100% owned Goliath Gold Project is located alongside the Trans-Canada Highway about 20 kilometres east of the City of Dryden, Ontario.

These latest results are from 4 drill holes that targeted high-grade structures in the east and west regions of the current mineral resource (Thunder Lake Gold deposit). Drill holes TL10-89 and 91 were collared about 800 metres northeast of drill holes TL10-90 and 92. Of note, is the intersection in TL10-92 which is approximately 330 metres down-dip of an intersection in historic drill hole TL-156 that reported 1.00 m of 68.53 g/t Au. Assays for drill holes TL10-93 and TL10-94 are pending.

Scott Jobin-Bevans, Treasury's President and CEO, said, "Our drilling confirms that the structure, alteration and gold mineralization we see at shallower levels continues at depths >700 metres within the current mineral resource, implying good vertical continuity in the high-grade structures. We have done very little drilling below 400 metres in comparison to other high-grade, deep deposits in Ontario and to date, we have seen spectacular gold intercepts that reflect the potential of this deposit. We are back drilling in less than 2 weeks as we continue to build ounces within the Thunder Lake Gold deposit."

A map of collar locations and list of the drill hole collars and survey information will be posted to the Company's website. Significant gold intersections include:

Drill Hole From
Interval (m) Au
Au (oz/t) Comments
TL10-89 549.00 550.00 1.00 2.54 0.07 Main Zone: 530 to 580 metres
TL10-89 575.14 577.00 1.86 2.24 0.07 75m down-dip of TL10-88
TL10-90 501.50 502.50 1.00 8.36 0.24 Main Zone: 493 to 528 metres
TL10-90 518.42 519.43 1.01 2.95 0.09 190m down-dip of TL-83
TL10-91 555.00 560.05 5.05 1.96 0.06 Main Zone: 535 to 576 metres
including 555.00 556.49 1.49 3.82 0.11 100m down-dip of TL-202
TL10-92 601.50 603.00 1.50 7.22 0.21  
TL10-92 733.05 733.55 0.50 16.12 0.47 Main Zone: 730 to 760 metres
TL10-92 750.60 752.10 1.50 7.47 0.22 330m down-dip of TL-156
*intervals are not necessarily representative of true widths

About Treasury Metals

Treasury Metals Inc. is a mineral exploration company that is actively developing its 100% owned flagship Goliath Gold Project. The Goliath Gold Project contains the Thunder Lake Gold Deposit that has more than 1.0 million estimated ounces of gold, consisting of 130,000 indicated ounces (820,000 tonnes at 4.8 g/t Au; Main Zone) and 920,000 inferred ounces (7,000,000 tonnes at 4.1 g/t Au; All Zones), using a cut-off grade of 2.0 g/t Au (see NI 43-101 report – "Report on the Goliath Project, Kenora Mining Division, Northwestern Ontario, Canada" dated December 19, 2008 – filed on SEDAR). Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. Drilling of the Thunder Lake Gold Deposit to date has intersected the Main Zone over a strike length of about 1,700 metres, with thicknesses of 0.5 to 30 metres (average width of 7.6 metres at 0.5 g/t Au cut-off) and a high-grade core with an average width of 1.9 metres (3.0 g/t Au cut-off).

Treasury Metals has royalty revenue from Sierra Minerals' Cerro Colorado Mine in Mexico along with other monetizable assets. Treasury Metals has a strong shareholder base and its management team and board are seasoned mining industry veterans with proven track records.

QA/QC Program

The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. Samples are analyzed at Accurassay Laboratories in Thunder Bay, Ontario and check assays are completed by a secondary lab as necessary.

Technical information in this press release has been reviewed and approved by Scott Jobin-Bevans, Treasury Metals' President and CEO, who is a qualified person under the definitions established by National Instrument 43-101.

For additional information on Treasury Metals and its projects, please visit the Company's website at

Forward-looking Statements

Securities regulators encourage companies to disclose forward-looking information to help investors understand a company's future prospects. This press release contains statements about our future financial condition, results of operations and business. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this press release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

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