Treasury Metals Announces Financing with RMB Resources Inc.

TSX: TML

TORONTO, Nov. 15, 2013 /CNW/ - Treasury Metals Inc. is pleased to announce it has entered into an mandate with and subsequently received In-Principle Approval from RMB Resources Inc. ("RMB"), to arrange and provide a $6,000,000 Feasibility Finance Facility (the "Facility") by the lender, RMB Australia Holdings Limited.

RMB is the resource merchant banking division of the FirstRand Group. Concurrent to the RMB financing, the Company will undertake to complete a private placement of common shares for $2.5 million. The combined financing will provide sufficient capital to fund the remaining technical program required to complete a bankable feasibility study and the mine permitting for Treasury's flagship Goliath Gold Project, located in northwestern Ontario.

"We are pleased to add RMB Resource, a strong partner with a wealth of mining knowledge and experience, to the Goliath Gold Project," stated Martin Walter, Treasury's President and Chief Executive Officer. "This financing is a further endorsement of the project and reduces financing risk for our shareholders. The transaction provides Treasury with the necessary financial resources to accelerate and complete the important Feasibility Study stage, an exciting time as we transition towards becoming one of Canada's next gold producers."

Key terms of the Facility are as follows:

• $6,000,000 Secured, Medium Term Facility of which an initial $3 million will be available on closing and a second tranche of $3 million will be available upon completion of specified project milestones;
• A Facility term of 2.5 years at CDOR plus 7.5% per annum;
• Pre-payment at any time without penalty;
• 1.5 million financier warrants, to be issued on the closing date, which will entitle RMB, for a period of 3.5 years, to purchase a  common share of Treasury at an exercise price equal to a 15% premium to the 20-day volume weighted average price (VWAP) on the closing date capped at $0.55 per share. A second set of 1.5 million financing warrants will be issued at the drawdown of the second $3 million of the Facility. These warrants will be priced at 15% premium at the time of the drawdown notice up to an exercise price of $0.80, at which point the exercise price will be calculated using 0% premium over the 20-day VWAP.

The Facility is expected to close by the end of December 2013 and is subject to customary conditions and documentation including completion of the equity component of the financing. The issue of the financier warrants and private placement is subject to all necessary regulatory approvals including the TSX.  Additional details of the private placement will be provided in due course.

Treasury Metals continues to advance mine permitting, technical engineering and environmental programs in conjunction with a Feasibility Study of the Goliath Gold Project (see Operational Update press release dated October 23, 2013 for further details).

ABOUT RMB RESOURCES
RMB Resources is the resource financing division of the FirstRand Group; one of the largest listed financial services companies listed on the Johannesburg Stock Exchange. RMB specializes in providing equity and debt-financing solutions for small to mid-tier resource companies globally. RMB Resources provides debt funding through conventional project financing, commodity pre-paid forward financing as well as senior, subordinated, standby and bridge financing. Staffed with experienced mining executives, RMB Resources operates from its offices in Sydney, Melbourne, London, Johannesburg, Denver and New York.

To view further details about the Goliath Gold Project, 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]

Martin Walter
President and Chief Executive Officer
T: 1.416.214.4654
[email protected]