|July 27, 2011|
Treasury Metals Completes Airborne Survey on Its Ontario Gold Properties
TORONTO, ONTARIO--(July 27, 2011) - Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:TML) is pleased to announce it has completed 1,236 kilometres of magnetic and heliborne electromagnetic ("EM") surveys over its Goliath and Goldcliff Gold Projects in northwestern Ontario. The surveys will provide Treasury Metals with additional geological information which, when interpreted, will be used to generate future exploration targets on both properties.
"We are committed to further exploration and realizing the potential that both properties have to offer," commented Martin Walter, President and CEO of Treasury Metals. "We're pleased with our progress to date on defining our deposit at Goliath, and we believe the property - more than 49 km2 - has a number of unexplored targets. This is also the first time we have had airborne geophysics to interpret on the Goldcliff Project, located 40 kilometres southeast of Goliath Gold Project, and we are eager to generate new targets on that property."
Treasury Metals is currently drilling targets located one kilometre along strike from each other at the Goliath Gold Project. The eastern high-grade zone remains the Company's main focus with one drill currently turning in the Main Zone area. The second drilling rig is testing the Western Zone and other higher grade shoots where mineralization has been reported in recent drilling. This drilling rig will soon be moved to drill step-out exploration targets one kilometre east and along strike from the mineral resource.
The Goldcliff Gold Project lies along a distinct NE-SW shear zone that also hosts the past producers of the Goldrock Camp. In 2010, Treasury Metals geologists conducted field mapping and prospecting on the property that led to the discovery of several gold showings including grab sample assays up to 106.4 g/t Au.
Technical information in this press release has been reviewed and approved by Andrew Cheatle, P.Geo., Vice President of Exploration at Treasury Metals, who is a qualified person under the definitions established by National Instrument 43-101.
To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.
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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