Treasury Metals Incorporated

Treasury Metals Incorporated

April 26, 2010 14:09 ET

Treasury Metals Reports Final Drill Results Confirming Gold at 725 Metres

- Drilling to Resume with +5,000 Metre Program -

TORONTO, ONTARIO--(Marketwire - April 26, 2010) - Treasury Metals Inc. ("Treasury" or the "Company") (TSX:TML) is pleased to announce further assay results from its recently completed 5,206 metre diamond drilling program targeting deeper gold mineralization on its Goliath Gold Project. The Company has also committed to resume drilling immediately with another 5,000 metre program. The 100% owned Goliath Gold Project is located alongside the Trans-Canada Highway about 20 kilometres east of the City of Dryden, Ontario.

Drill hole TL10-93 intersected anomalous gold concentrations, associated with alteration and sulphide mineralization typical of the Main Zone, in several intervals between 755 and 799 metres (over 45 metres), at vertical depths of approximately 725 metres. The best intercepts from this hole were 3.54 g/t Au over 1.00 metre (699.50-700.50m), 1.36 g/t Au over 1.25 metres (760.50-761.75m) and 2.13 g/t Au over 1.0 metre (790.50-791.50m).

Drill hole TL10-92, collared approximately 500 metres west of TL10-93, intersected 16.12 g/t Au over 0.5 metres. Intersections in TL10-92 and TL10-93 are at similar depths (see News Release 14/04/2010). Between TL10-92 and TL10-93 there are only two historic drill holes, TL-137 and 138, which themselves are separated by almost 200 metres. Historic drill hole TL-137 intersected 7.04 g/t Au over 1.10 metres and TL-138 intersected 2.98 g/t Au over 1.00 metres, both at similar depths to current drilling in this area.

"We have a lot of work ahead of us to properly test this extensive gold system. This drill program was a great success and provided us with valuable data upon which to continue our aggressive exploration and development program," commented Scott Jobin-Bevans, Treasury's President and CEO. "Having intersected gold mineralization at depths over 700 metres we are confident in the vertical continuity of the high-grade gold structures. We have demonstrated that the Thunder Lake Gold deposit can be expanded through drilling and having hit gold in virtually every hole drilled to date, we see excellent potential to significantly expand and upgrade our million ounce resource."

Drill Hole TL10-94 was collared to in the western region of the resource to provide an additional intercept of the Main Zone to be utilized in the current borehole IP survey. This drill hole intersected anomalous gold in Main Zone style mineralization intermittently from 129 to 155 metres (over 26 metres) with the best intersection being 2.14 g/t Au over 1.45 metres (154.00-155.45m).

The Company recently began a program of borehole geophysics, utilizing down-hole and surface induced-polarization (IP) surveys to characterize known mineralization within drill holes, to test continuity between drill holes and to look for new targets as off-hole conductors. The Company will be qualifying some of these newly generated target areas as part of the next 5,000 metre drilling program, along with further drilling in deeper portions of the resource.

A map showing collar locations and a list of the drill hole collars and survey information will be posted to the Company's website (10-04-20 TML Drill Collar Map) (

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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