Treasury Metals Inc.
TSX : TML

Treasury Metals Inc.

August 05, 2011 13:00 ET

Treasury Metals Announces Financing and Filing of Preliminary Prospectus

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Treasury Metals Inc. (TSX:TML) (the "Company" or "Treasury Metals") is pleased to announce that it has filed a preliminary short form prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in the Provinces of Ontario, British Columbia, Alberta, Manitoba, and Saskatchewan, in connection with a best efforts offering of common shares ("Shares") of the Company (the "Offering") designed to raise gross proceeds of $16 million. The net proceeds from the Offering will be used to fund the Company's previously announced acquisition of the Pico Machay Gold Project ("Pico Machay") from Pan American Silver Corp., for exploration and development activities at Pico Machay and for general corporate purposes.

Cormark Securities Inc. and Canaccord Genuity Corp. are acting as co-lead agents for the Offering, (collectively the "Agents"). Final pricing and determination of the number of Shares to be sold pursuant to the Offering will occur immediately prior to the filing of the final short form prospectus in respect of the Offering.

The Offering is subject to certain conditions including, but not limited to, the execution of a definitive agency agreement with the Agents and the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or applicable state securities laws and may not be offered or sold within the United States unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.

To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.

Forward-looking Statements

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

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