Treasury Metals Closes Financing to Advance Exploration of Canadian Gold Projects

Treasury Metals Inc. (TSX: TML; OTCQX: TSRMF) announced on June 1st that it has closed a private placement financing, raising gross proceeds of approximately $1.41 million. The funds will be used to advance exploration programs at Treasury's projects in Northwestern Ontario.

The financing involved the issuance of 3.11 million common shares priced at $0.452 per share to qualified investors. The shares qualify as "flow-through shares" allowing investors to claim tax deductions related to Canadian mining exploration activities.

Treasury Metals operates the Goliath Gold Complex which includes the Goliath, Goldlund and Miller gold deposits. The deposits benefit from proximity to key infrastructure like the Trans-Canada Highway, rail and power. The company is focused on advancing these assets through continued exploration and development.

This new injection of capital will aid in moving Treasury's projects forward and expanding resources. The funds are earmarked for drill programs and technical studies to grow the company's gold resources in a rising gold price environment.

For investors, this financing highlights Treasury Metals' access to capital for advancing exploration and development at its key gold projects. As the company continues exploration and expands resources, it becomes better positioned to eventually transition the deposits into producing mines. Investors may want to keep an eye on Treasury as exploration results roll in later this year. The potential to grow gold resources and move projects closer to production could make Treasury Metals an attractive investment opportunity.