Treasury Metals Adds Second Drill at Goliath Gold Project and Appoints Mine Permitting Professional to Management Team

TSX: TML

TORONTO, Sept. 21, 2016 /CNW/ - Treasury Metals Inc. is pleased to provide an exploration program update on the Goliath Gold Project in Northwestern Ontario and to announce the appointment of Mr. Darryl Boyd as Director of Regulatory and Community Affairs.

The Company has added a second drill rig that will assist in shortening the schedule for the infill drilling of deeper sections of the current underground "Inferred" resource area both in the "Main Zone" central shoot and with supplementary targets located within the western shoots of the main resource within the Main and C Zones (please see press release dated August 18, 2016 for further details). The company is currently awaiting drill assay results from the initial holes and will be releasing these results in due course.

A geological mapping and sampling program has also commenced in an area directly adjacent to and following the easterly extension of the main resource area for another 1.6 kilometres. Condemnation mapping is also underway in areas where the tailings pond and other potential mine infrastructure are being considered. Once the field exploration program is completed, Treasury plans to drill test all significant surface and near surface resource targets as part of a late fall or winter drill program.

In addition, the Company is also pleased to announce Darryl Boyd has been appointed as Director of Regulatory and Community Affairs. Mr. Boyd brings 20 years of mining experience in the Ontario region, with a track record of achieving operating permit approvals for several Ontario-based companies including North American Palladium Ltd., Rubicon Minerals Corporation, FNX Mining Company Inc. and Lake Shore Gold Corp. He has led the permitting process for project start-ups from preliminary exploration through to advanced exploration and commercial production (underground and open pit). Mr. Boyd is a graduate of the University of Guelph with a Bachelor's degree in Environmental Science.

Norm Bush, Vice President Goliath Gold Project, stated: "We are extremely pleased to have Darryl join Treasury Metals' management team. Darryl's extensive knowledge and experience with mine permitting processes in Ontario are perfectly suited to assist Treasury through the completion of its mine permitting activities and subsequent mine development."

To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.

Technical information in this press release has been reviewed and approved by Mark Wheeler, P. Eng., Director of Projects regarding Mine Permitting and Technical content and Paul Dunbar, Exploration Manager, regarding exploration content who are Qualified Persons for the Goliath Gold Project under the definitions established by National Instrument 43-101. 

Forward-looking Statements
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.

SOURCE Treasury Metals Inc.

Greg Ferron, Vice President, Corporate Development, T: 1.416.214.4654, [email protected]; Norm Bush, Vice President Goliath Project, T: 1.807.938.6961, [email protected]