Treasury Metals Completes Non-brokered Financing

TSX:TML

TORONTO, April 26, 2013 /CNW/ - Treasury Metals Inc. (TSX:TML) is pleased to announce that it has completed the first tranche of a non-brokered private placement (the "Offering"). The placement consisted of 2,608,332 units (the "Units") of the Company at a price of $0.45 per Unit, for aggregate gross proceeds of $1.17 million (the "Offering").  A second tranche of the Offering, consisting of 1,195,000 flow-through Shares (the "Flow-Through Shares") at a price of $0.50 per Flow-Through Share, is expected to close on or about Tuesday, April 30, 2013. The total proceeds of the Offering are expected to be $1.77 million.

Each Unit consists of one common share in the Company and one half of one common share purchase warrant of the Company exercisable for a period of 36 months from the closing date. Each whole warrant shall be exercisable into one common share of the Company at $0.75 per share.

The Units and Flow-Through Shares will be subject to a four-month hold period under applicable securities laws in Canada.

The net proceeds raised through the Offering will be for the advancement of the Company's Goliath Gold Project including completion of an Environmental Impact Statement and for general working capital purposes. The Offering was primarily sold to investors in Canada and Europe.

The Company paid a finder's fee of 7% cash commission to certain parties with respect to service provided in connection with the Offering.

A material change report in connection with the private placement will be filed less than 21 days before the closing of the private placement. This shorter period is reasonable and necessary in the circumstances as the Company wished to complete the private placement in a timely manner.

To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.

Forward Looking Statements

This press release contains forward-looking statements such as the expected use of the net proceeds from the private placement, our future financial condition, business plans and objectives, results of operations and business. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance or events and involve risks and uncertainties that are difficult to predict and may be beyond Treasury Metals' control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth herein and in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such 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 CEO
T: 1.416.214.4654
[email protected]