Operations

Goliath Gold Project

The Goliath Gold Deposit was discovered by Teck Exploration Ltd. in 1990 based on drilling anomalous surface grab samples. Between 1990 and 1998, Teck drill 349 holes and the program culminated in 1998 with an underground development program. A 275 m long ramp was driven to access the Main Zone and a total of 220 m of drifting was completed along the Main Zone at an approximate vertical depth of 35 m. A 2,355 tonne bulk sample was shipped to the St. Andrews Goldfields' mill near Timmins, Ontario for custom milling in the fall of 1999. The custom milled bulk sample had a head grade of 5.63 g/t Au and 15.28 g/t Ag as calculated by St. Andrew Goldfields. The gold recovery was calculated at 96.83% and silver at 38.0%.

Since acquiring the property in 2008, Treasury Metals has completed extensive exploration including geological mapping, diamond drilling, trenching, airborne (EM/mag) and ground geophysical (IP) surveys, downhole geophysical surveys, mobile metal ion (MMI) soil surveys, metallurgical testing, resource estimation and environmental studies. A total of 445 diamond drill holes comprised of 445 newly collared holes, 3 wedge holes, and 29 re-entry holes for a total of 143,575 metres have been drilled by Treasury Metals on the property. Treasury has advanced environmental and socio-economic studies including a submission of an Environmental Impact Statement (EIS) to the Canadian Environmental Assessment Agency (CEAA).

Treasury implemented and monitored a thorough quality assurance/quality control program ("QA/QC" or "QC") for the diamond drilling and sampling undertaken at the Goliath Gold Project from 2008-2014. QC protocol included the insertion of QC samples into every batch sent for analysis. QC samples included certified reference materials, blanks and duplicates.

The current resource estimate was completed by P&E Mining Consultants Inc. and announced on October 16, 2018.