Treasury Metals Drilling Program Outlines Shallow High Grade Ounces Outside of Main Resource Area

TSX:TML

TORONTO, Aug. 5, 2014 /CNW/ - Treasury Metals Inc. (TSX: TML) is pleased to announce results from the Phase I drilling program at its 100% owned Goliath Gold Project located near the town of Dryden in northwestern Ontario.

Treasury's current exploration program is focused on discovery of new resources, continued expansion of the developing C Zone horizon as well as infill delineation drilling of the Main Zone to tighten grades of proposed underground stopes and extend limits of known mineralization.

Highlights of the final Phase I drilling program include exploration Hole TL14-367, drilled approximately 400m west of the main resource. Hole 367 was targeting base metal trends, intersected 12.8m at 2.71 g/t, across the interpreted Main Zone stratigraphy at a vertical depth of 52 meters.  The area remains open in all directions. In previous drilling, to the west hole TL14-369 encountered 5m at 1.32g/t and to the east TL09-066 intersected 8.5m at 1.41g/t, including 3.75m at 2.65g/t at a vertical depth of 25m (See Press Release Jan. 13, 2010). The area remains a high priority for Phase II drilling during 2014, in an effort to discover and delineate shallow, open pit-able resources. Additional details of the Phase II exploration program will be provided in the short term.

The Goliath Project continues to deliver solid gold grades within its current resource. TL14-362 containing multiple specks of VG, returned a value of 24.43g/t over 3.1m within the Main Zone Western Shoot. The intercept is currently held within the 'Inferred Outline' of the western resource, destined to become categorized as 'Indicated' with the upcoming NI 43-101 resource update.

Hole ID

Section

Area

From

To

* Intercept (m)

Au (g/t)

TL14360

C Zone Deeps

C Zone FW

329

336.4

7.40

1.78

TL14360

C Zone Deeps

including

332

336.4

4.40

2.61

TL14-362

Western Resource

H3

252.5

254

1.50

10.82

TL14-362

Western Resource

Main Zone

317.9

321

3.10

24.40

TL14-367

Main Zone Far West

Western Exp.

67.15

79.95

12.80

2.71

TL14-367

Including

Western Exp.

68

75

7.00

4.22

TL14-368

C Zone Far West

Western Exp.

138

145

7.00

1.84

TL14-368

C Zone Far West

Western Exp.

138

142

4.00

3.00

TL14-369

Main Zone Far West

Western Exp.

75

80

5.00

1.32

Holes are generally drilled 350-360°Az with inclinations ranging -50 to -76°.
All assays are rounded to two decimal places.
*Intervals do not necessarily indicate true widths.
TL14-362 Pulp Metallic assays returned 3.1m at 9.25g/t

Full Table of Assays and updated Main Zone and C Zone long sections can be found on the company's website.

Regionally, several high value EM axis and Mag targets are being evaluated/defined with a soil sampling program that commenced in June. Upon receiving results from the soil survey, conceptual targets will be ranked and drill-tested accordingly.

Technical information in this press release has been reviewed and approved by Gerry Katchen, P. Geo, who is the qualified person under the definitions established by National Instrument 43-101.

The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawn in half with one-half of the core sample shipped to Accurassay Laboratories in Thunder Bay, Ontario. The other half of the core is retained for future assay verification, and/or metallurgical testing. Other QA/QC procedures include the insertion of blind blanks and standards for every tenth sample in the sample stream. Selected quarter core duplicates were assayed for 5% of the samples. The laboratory re-assays 10% of all samples (pulps and rejects) and additional checks are routinely run on anomalous values including gravimetric analysis and pulp metallics. Gold analysis is conducted by lead collection, fire assay with atomic absorption and/or gravimetric finish on a 30 gram sample. Check assays by a secondary lab are completed as necessary.

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

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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.

For further information: Martin Walter, President and CEO, T: 1.416.214.4654, martin@treasurymetals.com; Greg Ferron, Vice President, Corporate Development, T: 1.416.214.4654, greg@treasurymetals.com