About Treasury Metals 

Treasury Metals Inc. is a gold-focused exploration and development company with assets in Canada. Treasury's Goliath Gold Complex, which includes the Goliath, Goldlund, and Miller deposits, is located in Northwestern Ontario.

The deposits benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario. The Company also owns other projects throughout Canada, including the grassroots gold exploration property Gold Rock and the Weebigee-Sandy Lake Gold Project JV.

Treasury Metals is committed to inclusive, informed, and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all their projects and in all aspects, including creating sustainable economic opportunities, providing safe workplaces, enhancing social value, and promoting community well-being. 


The Goliath Gold Complex is a 330 square kilometre property with more than 65 kilometres of strike  length. The Project is located in the historic Wabigoon Greenstone belt in the Dryden-Sioux Lookout area and benefits from immediate access to developed world-class infrastructure and an available experienced workforce.

In April 2022, the Company announced a Mineral Resource Estimate ("MRE") update with an increase to the overall Measured and Indicated categories to 2,138,600 ounces of gold (a +9% increase) and an increase to Inferred mineral ounces of 48% to 782,000.  


Treasury Metals is a gold exploration and development company that has acquired one of the largest contiguous land packages in Northwestern Ontario and that is well-positioned to become one of Canada’s next-producing gold mines. Treasury Metals offers an opportunity to invest at a relatively low capitalization while the Company trades at a significant discount to gold developer peers. 

The Goliath Gold Complex has exceptional characteristics such as world-class infrastructure access to hydro, natural gas, CP Rail and the Trans-Canada Highway; Experienced and available workforce, the project is located nearby towns of Dryden and Sioux Lookout; Positive Environmental Assessment received for Goliath Project and accelerated co-development of the Goliath and Goldlund (historical producer), and the potential to continue resource expansion in parallel with development over the property package.  

Treasury Metals published a Preliminary Economic Assessment conducted on the project indicating a post-tax IRR of 30.2% and a post-tax NPV of $328 million in February 2021.

In 2021, the Company completed a 60,000 metre drill program at the Goliath, Goldlund, and Miller projects, initiated trade-off studies, provincial permitting activities and IBA discussions.

In 2022, The Company updated the MRE and embarked on an up to 25,000 metre drill program focused on new exploration targets. A Pre-feasibility Study for Goliath Gold Complex is expected to be released in the second half of 2022 with the goal to advance the Project to a construction decision by the fourth quarter of 2023.  


In April 2022, the Company announced a US$20 million royalty transaction with Sprott Resource Streaming and Royalty Corp. The transaction was completed at a significant premium to the trading multiple and provided the company with funding to progress the Project through the pre-feasibility and  feasibility stages.

Throughout the remainder of 2022, the Company plans to complete the pre-feasibility studies and continue exploration to identify new targets on the property. At June 30, 2022, Treasury Metals had C$23.7 million of cash.  


In April 2022, the Company announced an updated Mineral Resource Estimate for the Goliath Gold Complex that showed a 9% increase in Measured and Indicated Mineral Resources to more than 2.1 million ounces of gold and a 48% increase in Inferred Mineral Resources to more than 780,000 ounces of gold.

In June 2021, Treasury Metals committed to growing the Mineral Resource with the addition and conversion of tonnes and ounces through the 2021 drill program and geological modelling, which the team delivered on. 

Exploration throughout 2022 will continue to be focused on testing new exploration targets. Fieldwork has begun on newly identified targets on both the Goliath and Goldlund properties.

The Geology team has been working with Mira Geoscience on a detailed investigation of the Archean lode gold style targets at both the Fold Nose and Interlakes targets. The Far East target is a high-priority follow-up with characteristics very similar to the Goliath Deposit. 

The Company intends to continue exploration activities on the Goliath Gold Complex and their 330 square kilometres land package through 2022 and beyond. Building on the discoveries at Caracal and Ocelot that the geology team made earlier this year, Treasury Metals expects to continue to grow their multi-million-ounce deposit along a 65 km strike length. 


Treasury Metals Inc. has an experienced management and technical team that has taken mining projects from the exploration phase through studies, permitting, consultations and construction into operations. The management team is working to mitigate the inherent risks of the project, whether they be Company specific, or in general to other development stage mining companies that have yet to record revenues or declare commercial production at their operations. 

Some of these general market risks include but are not limited to; relationships with impacted Indigenous communities, access to skilled labour, health risks associated with the global COVID-19 pandemic, inflationary pressures on costs, changes in foreign exchange rates, access to capital to fund operations and commodity price fluctuations.

Although the Company’s activities are directed toward the development of mineral deposits, its activities also include the exploration for and development of mineral deposits. The exploration and development of mineral deposits involve risks. While the discovery of an ore body may result in substantial rewards, major expenses will be required to locate and establish mineral reserves, to develop metallurgical processes and construct mining and processing facilities. 

Furthermore, the Company is subject to extensive environmental legislation and the cost of complying with these regulations. Changes in environmental legislation could increase the costs of complying with applicable regulations.

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