Treasury Metals Announces CEO Departure

TSX: TML

TORONTO, June 3, 2016 /CNW/ - Treasury Metals Inc. ("Treasury Metals" or the "Company"), today announced the resignation of President and Chief Executive Officer Martin Walter. Mr. Walter, who has served in this position since 2011 and who played a major role in transitioning the Goliath Gold Project from exploration to development has resigned effective immediately to pursue the CEO role at Vena Resources, a Peruvian focused exploration company where he had served in an interim capacity since late 2015.  Mr. Walter has also stepped down from the Company's Board of Directors (the "Board"). An independent director of the Board, William Fisher, has been appointed as lead director during this interim phase.

The Board, through its Governance and Nominating Committee, has retained the services of an executive search firm and has commenced the process of identifying a new Chief Executive Officer to lead the Company during its next phase of development. 

Marc Henderson, Chairman of the Board, said, "I would like to thank Martin for his contributions to Treasury Metals and the Board and I wish him all the best with his future endeavors. Under his leadership, our flagship Goliath Gold Project near Dryden, Ontario has grown considerably and has successfully transitioned from the exploration stage to late stage permitting  - and soon into feasibility. Martin put a strong team in place and for Treasury, so this is an opportune time for an experienced mine builder to join the Company ahead of what is expected to be a production decision sometime in 2017."

Martin Walter, said, "I would like to thank the Treasury Metals team and Board for what was a very successful and rewarding time for me as CEO and I wish the Company the best for the continued development of the Goliath Gold Project."

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

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]; Marc Henderson, Chairman of the Board, T: 1.416.214.4654, [email protected]