Treasury Metals Files Goliath Gold Project Environmental Impact Statement

TSX:TML

TORONTO, Oct. 21, 2014 /CNW/ - Treasury Metals Inc. (TSX:TML) ("Treasury") is pleased to announce a major milestone achievement in the development of Goliath Gold Project located in Northwestern Ontario. Treasury has filed its Environmental Impact Statement (EIS) with the Canadian Environmental Assessment Agency (CEAA).

"The filing of our Environmental Impact Statement with CEAA is a key aspect in the federal government's Environmental Assessment process," said Martin Walter, President and Chief Executive Officer of Treasury Metals. "With the submission of the EIS, a renewed round of public and Aboriginal consultation and engagement will be initiated. I would encourage participation by all interested parties in this rigorous environmental review."

The development of the EIS was led by Tetra Tech WEI Inc. and Treasury's engineering team, following CEAA's issuance of the EIS Guidelines in February 2013 (See press releases dated December 3, 2012, January 21 and May 14, 2013 and January 27, 2014). Treasury's filing of the EIS recommences the legislated period to complete the Environmental assessment process. The EIS covers all aspects of the Project's development, operational and closure stages, and addresses all matters related to socioeconomic and environmental effects, and is used to avoid, mitigate and reduce environmental impacts.

Goliath Gold Project Vice President Norm Bush commented: "The Environmental Impact Statement will be reviewed internally by the federal regulatory agencies for concordance with the requirements of the EIS guidelines. After this is completed, CEAA will organize a series of public and Aboriginal consultation meetings involving the government, Treasury Metals and the technical consultants who contributed to the EIS. The company expects these meetings to be completed within the last two months of 2014. Treasury Metals will continue to be a positive contributor to the local economy in Dryden, Wabigoon and the surrounding areas. Upon commencement of production activities, Treasury will be a provider of high quality jobs for many years".

Following a Concordance Review by CEAA, the Environmental Impact Statement document will be available online on the CEAA website and will allow for public review within the comment period. The executive summary will be made available on the company's website: www.treasurymetals.com.

Preparation of the EIS was undertaken by leading engineering and environmental firms including:

Tetra Tech WEI Inc., the consultant with primary responsibility for the preparation of the EIS.  The Tetra Tech group has a Permitting and Approvals office in Winnipeg, Manitoba and has vast experience in environmental permitting and a thorough knowledge of the local area;

Lycopodium Minerals Canada Ltd. in Toronto, conducted plant alternatives and infrastructure studies and provided the overall preliminary process design for the ore processing facilities described in the EIS.  The Lycopodium group has a proven track record in the design and construction of operating mines of similar scope and scale;

WSP Canada Inc. provided the preliminary design of the Tailings Storage Facility (TSF) and conducted an Alternatives Assessment review of respective facilities.  WSP Canada (formerly Genivar/Cook), based in Thunder Bay, has notable local experience in both the design and construction of tailings facilities.

AMEC Environment & Infrastructure of Hamilton, Ontario completed Hydrogeological investigations and modelling to estimate the effect of the mining operations on the local ground water flows. 

Technical information in this press release has been reviewed and approved by Mark Wheeler, P. Eng. who is the Qualified Person for the Goliath Gold Project under the definitions established by National Instrument 43-101. 

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.

Martin Walter, President and Chief Executive Officer, [email protected]; Greg Ferron, Vice President, Corporate Development, T: 1.416.214.4654, [email protected]; Mark Wheeler, Senior Project Engineer, T: 1.416.214.4654, [email protected]