Treasury Metals Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Treasury Metals Inc. is a Canadian mineral exploration and development company with a growth-oriented strategy to acquire and develop advanced gold assets in geopolitically stable regions. The Company is focused on expanding its gold resources and developing its 100% owned flagship Goliath Gold Project located in the Kenora Gold District of northwestern Ontario, Canada.

The management team and Board of Directors are highly experienced mining industry executives with proven track records. Treasury Metals has existing royalty revenue of approximately $500,000 annually from a gold mine in Mexico, which covers basic overhead expenses, and owns other liquid assets in the form of shares in other publically traded companies. 

The Company has two main objectives:

Become a near-term mid-tier gold producer
Initial target: Treasury's flagship asset, the Goliath Gold Project near Dryden, Ontario, is an advanced-stage, high-grade gold deposit (NI 43-101 compliant resource) with over a million ounces of gold (2.0 g/t Au cut-off) and the potential for additional silver, lead and zinc credits.

Aggressive M&A targeting of advanced gold projects
Initial target: Northwestern Ontario, an area of numerous early-stage gold prospects and historic deposits that are favourable for consolidation.

The Kenora Gold District, once the centre of gold production in Ontario, only produced 250,000 oz Au. With today's elevated gold prices, over 20 companies and individual groups are exploring for gold in the Kenora Gold District. Treasury Metals' Goliath Project is well positioned, with the largest Nl43-101 gold resources and significant upside to increase resources and make new discoveries.

The Company is focused on becoming a mid-tier producer through advancing current gold projects, consolidation, and acquisition.

PROJECT IN HAND

Goliath Gold Project, Kenora Gold District, Northwestern Ontario

The Company's 100%-owned Goliath Gold Project is an advanced-stage, high-grade gold project located in the Kenora Mining District in northwestern Ontario, 20 km east of the City of Dryden. The Goliath Project comprises the Thunder Lake Property and the historic Goliath or Laramide Property. The total area of the property is more than 53 sq.km. 

Project highlights:

• NI 43-101 compliant gold resource - Thunder Lake Gold Deposit:

  • Surface and underground Indicated Resources: 3.4 million tonnes grading 2.5 g/t Au or 270,000 ounces

  • Surface and underground Inferred Resources: 10.6 million tonnes grading 2.7 g/t Au or 930,000 ounces

  • The Thunder Lake deposit is open to the west (+1.4 km), northeast (+3.0 km) and at depth

  • Excellent potential to increase ounces

• Additional silver credits (average 16 g/t Ag) and base metal credits not incorporated into current resources

• Multiple exploration targets on more than 53 sq.km; initial targets are northeast and west of the Thunder Lake Deposit

• Iron formation has not been investigated for gold potential; similarities to Goldcorp's Musselwhite Mine and Agnico Eagle's NWT projects

• Other prospective areas of the Property (more than 40% of area) are largely unexplored

• Encouraging Preliminary Economic Assessment justifies advancing project and building upon the resource within the known mineralized area

• Near Trans-Canada Highway, with year round road access, rail line, power and skilled labour

• Multiple junior exploration and near-term producers entering the district

• Consolidation opportunities in the region to build gold ounces.

The Preliminary Economic Assessment provides a baseline study to guide future exploration and development.

• Justifies moving the project forward toward pre-feasibility and potential production.

• Continuing to review additional scenarios/parameters to improve the economic model.

• Expand current resources to build a more robust economic model.

• Explore other prospective areas of the Property.

• Continue to examine other opportunities in the Kenora Gold District.

Lara Polymetallic Project, Vancouver Island, British Columbia

The Company's 100%-owned Lara Polymetallic Project, is an advanced-stage, high-grade zinc along with gold, silver, lead and copper project, situated in the Victoria Mining Division in the southern part of Vancouver Island, approximately 75 km north of Victoria, British Columbia, Canada. The Lara Property comprises 47 mineral claims covering 8,648 hectares. Treasury Metals is currently looking for joint-venture or other business opportunities with respect to the Lara Property; more than $300,000 in exploration work has been spent on the property in the past 4 years.

NI 43-101 compliant resource - Lara Deposit:

• Indicated: 189,600 million tonnes grading 9.74% Zn, 61 g/t Ag (41 million pounds Zn; 3% Zn block cut-off)

• Inferred: 91,100 million tonnes grading 6.15% Zn, 41 g/t Ag (12 million pounds Zn; 3% Zn block cut-off)

MANAGEMENT

Management and Directors

Marc Henderson, MBA, CFA, Non-Executive Chairman, Director
Mr. Henderson has over 20 years experience running public mining companies as CEO. He has been President of Laramide Resources Ltd. since 1995. He is Past President of Aquiline Resources Inc. and MineFinders.

Scott Jobin-Bevans, Ph.D., P.Geo., President & CEO, Director
Dr. Jobin-Bevans has more than 20 years experience in mineral exploration, he has been a Director and Officer of various public companies. He is Co-founder and Managing Director of Caracle Creek International Consulting Inc. and has extensive experience in bringing projects and organizations from generative stage through to development.

Dennis Gibson, B.Comm., CGA, Chief Financial Officer
Mr. Gibson has held various senior financial positions for companies including Aquiline Resources and Laramide Resources for the past thirty years.

Chris Irwin, B.A., LLB, Company Secretary
Mr. Irwin has over 19 years of experience advising public mineral exploration companies and is a Director of several companies.

Bill Fisher, Independent Director
Mr. Fisher has extensive international experience managing and development mining exploration projects and companies. He is Chief Executive Officer and Director of Karmin Exploration Inc. and is a Director of PC Gold Inc.

Blaise Yerly, Independent Director
Mr. Yerly has more than 20 years of financial experience and expertise in company restructuring. He is currently Managing Director of Minosucra LLC.

Peter Walker, Independent Director
Mr. Walker has an extensive background in the mining industry as Management Consultant. He was President and Chief Executive Officer of Corona Gold Corporation.

Doug Bache, Independent Director
Mr. Bache has more than 20 years experience in mine finance and development and has been a Director and Officer of various public companies.


NEWS UPDATE

On July 15, 2010, Treasury Metals Inc. made a correction to the news release issued on 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;

The news release should have stated:

· Estimated initial capital expenditure of $38-million; life-of-mine capital expenditure of $59-million;

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