Treasury Metals Inc.
TSX : TML

Treasury Metals Inc.

September 11, 2008 07:30 ET

Treasury Metals Drilling Returns High-Grade Gold

12.7 metres at 7.13 g/t Gold including 0.85 metres at 36.99 g/t Gold

TORONTO, ONTARIO--(Marketwire - Sept. 11, 2008) - Treasury Metals Inc. (TSX:TML) ("Treasury" or the "Company") is pleased to announce the latest drill results from its Goliath Gold Project located alongside the Trans-Canada Highway near Dryden, Ontario. Treasury continues to intersect significant gold grades on its 100% owned Goliath Project as part of in-fill drilling on the Thunder Lake Gold Deposit.

The focus of the current drill program is to verify and improve the historic mineral resource estimate through in-fill and targeted drilling and to further define multiple higher grade "shoots" which would be the primary targets of a future underground program. Significant intersections from the latest drilling include:



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Drill Hole From (m) To (m) Int (m) Au (g/t) Ag (g/t) Zn (%) Pb (%) Zone(i)
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TL0833 126.00 126.50 0.50 7.90 5.2 0.63 0.14 MZ
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and 134.50 135.00 0.50 4.56 0.5 0.01 0.01
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TL0836 164.30 177.00 12.70 7.13 34.5 0.12 0.08 MZ
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including 164.30 170.00 5.70 9.14 20.5 0.13 0.10
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including 165.00 165.85 0.85 36.99 72.2 0.59 0.48
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including 167.00 168.00 1.00 7.97 3.9 0.04 0.03
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including 170.56 171.48 0.92 11.88 143.5 0.71 0.33
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including 173.00 174.00 1.00 10.51 165.7 0.01 0.02
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including 176.00 177.00 1.00 12.55 5.7 0.03 0.02
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TL0837 74.00 75.60 1.60 7.00 246.0 0.05 0.04 HW
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including 74.50 75.00 0.50 17.65 565.4 0.09 0.07
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and 132.00 140.00 8.00 1.42 7.7 0.22 0.12 MZ
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including 137.40 138.28 0.88 6.47 53.2 1.60 0.58
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and 203.00 204.00 1.00 9.42 1.3 0.01 0.01 FW
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(i)MZ equals Main Zone; FW equals Footwall Zone; HW equals Hangingwall Zone
(Not true width)


A full summary of the latest drilling results (Table 1) and a drill hole location map (Figure 1) can be found in the links at the bottom of the release or on the Company website. Assay results for drill holes TL0835 and TL0838 to TL0847 (11 drill holes) are still pending and a minimum of six more drill holes are in the process of being completed.

The historical Inferred Mineral Resource Estimate (non-compliant with NI43-101) is reported to be 2.974 million tonnes grading 6.47 g/t Au, calculated using a cut-off of 3.0 g/t Au and a minimum thickness of 3.0 metres (CAMH, 2007), defining a portion of the Main Zone of the Thunder Lake Gold Deposit. Treasury has not independently analyzed the resource results from the previous exploration therefore the historical results should not be relied upon, they are only an indication of the potential and are relevant to ongoing exploration.

The Main Zone, which has been irregularly drill tested to vertical depths of approximately 700 metres, extends over a minimum strike length of approximately 1,400 metres and dips 70-75 degrees to the south or southeast. The Main Zone as defined by the historic mineral resource represents only a small portion of the greater than 4 km long prospective trend in the Goliath Project area.

"The current drilling program continues to meet our expectations as we further delineate higher grade gold zones within the Thunder Lake Gold Deposit," said Scott Jobin-Bevans, Treasury Metals President and CEO. "The results from drill hole TL0836 certainly confirm the high-grade nature of the No. 1 Shoot, just one of several higher grade gold shoots outlined by historic drilling."

The current drill program began in February 2008 and to date, more than 11,600 metres or coring has been completed in 51 drill holes.

The Company is planning further diamond drilling, surface/borehole geophysics, structural and geochemical studies and geological mapping as part of its continued evaluation of the larger project area. Treasury has engaged the services of A.C.A. Howe International Limited to complete an NI43-101 compliant Independent Mineral Resource Estimate, which is anticipated for release this fall.

About Treasury Metals Inc.

Treasury Metals Inc. is a mineral exploration and development company with a growth-orientated strategy to acquire and develop precious and base metals assets in Canada. The Company's flagship asset is the 100% owned Goliath Project, an advanced-stage, high-grade gold deposit with the potential for additional silver, lead and zinc credits. The 100% owned Lara Project is an advanced stage, high-grade base and precious metals project with significant potential for additional resources in its Lara Deposit. The Company also has an existing royalty revenue from Sierra Minerals' (TSX:SIM) Cerro Colorado Mine in Mexico and other monetizable assets. The management team and board are seasoned mining industry veterans with proven track records. As a spin-off company of Laramide Resources (TSX:LAM), Treasury benefits from a strong existing shareholder base. The Company web site is: www.treasurymetals.com.

Quality Control

The quality assurance/quality control of the assay data was monitored by a series of sample standards and sample blanks which were routinely inserted into the sample sequences that were consigned for assaying to Accurassay Laboratories in Thunder Bay, Ontario. Accurassay is an ISO/IEC guideline 17025 accredited facility. Treasury's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Scott Jobin-Bevans, P.Geo., Treasury's President and CEO, who serves as the Qualified Person (QP) under the definitions of National Instrument 43-101. Dr. Jobin-Bevans has reviewed and approved the technical content of this release.

Forward-looking Information

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.

To view Table 1, Treasury Metals Goliath Project (Thunder Lake Gold Deposit) please view the following link: http://media3.marketwire.com/docs/table1treasurymetalsgoliathpr09112008.pdf.

To view Figure 1: Goliath Project: Thunder Lake Deposit, Drill Hole Locations please view the following link: http://media3.marketwire.com/docs/figure1goliathproject09112008.pdf.

Contact Information