TORONTO, Sept. 5, 2012 /CNW/ - Treasury Metals Inc. ("Treasury Metals"
or the "Company") has filed on SEDAR a National Instrument 43-101
Preliminary Economic Assessment ("PEA" or the "Study") on its 100%
owned Goliath Gold Project ("Goliath Gold" or the "Project") situated
near the community of Wabigoon and 20 kilometres east of the City of
Dryden, Ontario. The PEA, originally announced July 19, 2012, was
carried out by the Company's engineering team and by independent
consultant A.C.A. Howe International Limited ("A.C.A. Howe"). The PEA
is an update to the July 2010 PEA and it incorporates the most recent
The results demonstrate low initial capital requirements with
underground ("UG") development expenditures being funded by cash flow
from open pit operations during the initial three years. The PEA is
based on the gold resources outlined in the NI 43-101 Mineral Resource
Estimate released on November 9th, 2011.
The full report can be downloaded from SEDAR (www.sedar.com) and is posted on the Company's website (www.treasurymetals.com).
Cautionary statement required by NI 43-101
According to the cautionary statement required by NI 43-101, it should
be noted that this assessment is preliminary in nature as it includes
mineral resources that cannot be categorized as reserves at this time
and as such there is no certainty that the preliminary assessment and
economics will be realized.
Technical information related to the PEA contained in this news release
has been reviewed and approved by Doug Roy, M.A.Sc., P.Eng., an
Associate Mining Engineer with A.C.A Howe, who is an independent
Qualified Person as defined by NI 43-101, with the ability and
authority to verify the authenticity and validity of this data.
Technical information in the press release has also been reviewed and
approved by John J. Chulick, a consulting geologist registered in the
State of California, and Mark Wheeler, P. Eng., Senior Mining Engineer,
who are both Qualified Persons for the Goliath Gold Project under the
definitions established by National Instrument 43-101.
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
SOURCE: Treasury Metals Inc.
For further information:
To learn more about Treasury Metals, please visit the Company's website at www.treasurymetals.com.
Vice President, Corporate Development
President and CEO