Treasury Metals Commences Drilling Program at Goldcliff Project, Ontario

TSX:TML

TORONTO, Oct. 15, 2012 /CNW/ -Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:TML) has commenced a diamond core drilling program at its 100% owned Goldcliff Project, located approximately 40 kilometres south-southeast of the City of Dryden, Northwestern Ontario in the Kenora Mining District.

The Goldcliff Project lies along a distinct NE-SW shear zone that also hosts the historic producers of the Gold Rock mining camp and is contiguous to Manitou Gold's Kenwest property. The 40 km² property is accessible by paved roads and has access to excellent infrastructure.

The Company completed magnetic and heliborne electromagnetic surveys over both its flagship Goliath Gold and Goldcliff Projects in July 2011. Other exploration programs at Goldcliff in 2011 and 2012 consisted of trenching, sampling and mapping. This new exploration program at Goldcliff has been designed to test a number of drill targets and will consist of approximately 1,000 metres of diamond core drilling.

Further, details on the next phase of the Company's flagship Goliath Gold Project exploration program will be provided shortly.

Technical information in this press release has been reviewed and approved by Mr. John J. Chulick, a consulting geologist registered in the State of California, who is the Qualified Person for the Goliath Gold Project under the definitions established by National Instrument 43-101.

To view further details about the Goldcliff 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 & CEO
T: 1.416.214.4654
[email protected]