Treasury Metals increases private placement financing

TSX: TML

TORONTO, Dec. 18, 2013 /CNW/ - Treasury Metals ("Treasury Metals" or the "Company") is pleased to announce that it has increased the size of its brokered placement of flow-through common shares ("Flow-Through Shares"), initially announced on December 4, 2013, from $2.5 million in aggregate gross proceeds to $3.35 million in aggregate gross proceeds which includes the Agents option (the "Offering"). As previously indicated, the Offering is comprised of Flow-Through Shares, at an issue price of $0.40 per Flow-Through Share, led by Secutor Capital Management Corporation with a syndicate of agents including Canaccord Genuity Corp. All other terms and conditions of the Offering remain the same.

The net proceeds of the Offering will be used for the advancement of the Company's Goliath Gold Project and general working capital purposes.

Closing of the Offering is anticipated to occur on or about December 20, 2013. Closing of the Offering is subject to receipt of regulatory approvals, including the acceptance of the Offering by the Toronto Stock Exchange. The Flow-through Shares issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

About Treasury Metals Inc.:

Treasury Metals Inc. is a Toronto-based, TSX-listed mining exploration and development company developing and permitting the Goliath Gold Project located in Northwestern Ontario. The Company's flagship Goliath Gold Project is a high-grade gold resource that demonstrates strong market fundamentals, access to excellent infrastructure and a skilled local workforce. Treasury Metals has commenced the mine permitting process at its solely owned project with the vision of a combination of surface and underground mining methods and one of four projects advanced to the permitting stage in the province. Established in 2008, Treasury Metals operates corporate headquarters in Toronto and a project office at the Goliath Gold Project.

To view further details about the Goliath Gold Project, 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.

For further information:


Greg Ferron
Vice President, Corporate Development
T: 1.416.214.4654
greg@treasurymetals.com

Martin Walter
President and Chief Executive Officer
T: 1.416.214.4654
martin@treasurymetals.com


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