Treasury Metals Inc.
TSX : TML

Treasury Metals Inc.

July 15, 2010 07:00 ET

Treasury Metals: Correction to July 13 News Release

TORONTO, ONTARIO--(Marketwire - July 15, 2010) - Treasury Metals Inc. ("Treasury" or the "Company") (TSX:TML) announces correction to the news release issued July 13 entitled "Treasury Metals' Preliminary Economic Assessment Confirms Potential Economic Viability for Goliath Gold Project."

In the Goliath Gold PEA Highlights the news release incorrectly stated:

  • Estimated initial capital expenditure of $76 million; Life of Mine capital expenditure of $117 million; and, payback period of 4 years at US$850 per ounce gold, or 2 ½ years at US$1,200 per ounce gold.

The news release should have stated:

  • Estimated initial capital expenditure of $38 million; Life of Mine capital expenditure of $59 million; and, payback period of 4 years at US$850 per ounce gold, or 2 ½ years at US$1,200 per ounce gold.

Qualified Person

Technical information related to the PEA contained in this news release has been reviewed and approved by Doug Roy, an independent Qualified Person as defined by NI 43-101, with the ability and authority to verify the authenticity and validity of this data. The report titled "Technical Report and Preliminary Economic Assessment on the Goliath Gold Project", with an effective date of July 9th, 2010 has been prepared by Doug Roy, Patrick Hannon, Ed Thornton and Ian D. Trinder of A.C.A. Howe International Limited.

About Treasury Metals

Treasury Metals Inc. is a Canadian mining company that is focussed on expanding the Company's gold resources and developing its 100% owned flagship Goliath Gold Project located in the Kenora Gold District of northwestern Ontario. Treasury Metals obtains significant royalty revenue from an NSR on Goldgroup Mining Inc.'s Cerro Colorado Mine located in Mexico.

For additional information on Treasury Metals and its projects, including updated technical information as it pertains to this news release, please visit the Company's website at www.treasurymetals.com.

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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