Treasury Metals Inc. (Treasury) is a Canada-based Company. The Company is engaged in the acquisition, exploration and development of mineral resource properties in the Americas. The Company’s activities are focused on two exploration projects in Canada - the Goliath Gold Project and Goldcliff Project near Dryden, Ontario.

Treasury Metals intercepts over 286 g/t gold in phase II drilling at Goliath's B zone

Treasury Metals (TSE:TML) said that the Phase II drilling program at its Goliath gold project near Dryden, Ontario continues to deliver high mineralization.

The drilling program intends to upgrade resources and expand mineralization in the Main and C zone, allowing the Canadian gold developer to complete engineering plans for the feasibility study and design the open pit outline.

The campaign has continued to focus on the western area of the Main zone, further developing shoots at depth in areas that had been left untested a well as locations west of the principal pit.

The highlights include a new high grade intersection in the B Zone, which is situated between the Main and C Zones. Treasury said thatthis hole, TL15-390B, revealed specks of gold in a well mineralized 1.0 meters quartz vein featuring 286.23 g/t gold and 26.0 g/t silver.

The B Zone has been intersected by other holes throughout the deposit that have also returned significant gold assays including 6.32 g/t gold over 5 meters, 24.18 g/t gold over 3 meters, 8.78 g/t gold over 4 meters and 10.19 g/t gold - and 52.22 g/t silver - over 0.25 m.

In the Main Central Zone at a depth of just 36 meters, hole TL15-396 intercepted a 2.74 meters well mineralized vein returning 7.93 g/t gold. Remarkably, the area had previously been considered to contain low gold concentration.

Treasury also explored the zone, 400 meters west of the proposed main pit, discovered earlier in the phase I program last August, where drilling at TL 14-367 intercepted 12.8 metres at 2.71 g/t gold. HoleTL15-400 intercepted 6.68 g/t gold over 3.6 m in a Hanging Wall 21.0 meters below surface.

Last December, Treasury raised $800,000 to advance its flagship project, with a bankable feasibility study expected this year.

Based on a preliminary economic assessment from 2012, the Goliath project is outlined to become a combined open pit and underground operation, producing an annual average of 80,000 ounces of gold equivalent over 10 years.