NEXG.V · 2020-04-02 12:00:00

Goliath Drilling Continues To Intersect High Grade Gold Across Main Zone, including 6.3 g/t Au over 19.5 m, and Reports Phase 2 Soil Gas Hydrocarbon Program Completed Along Strike

Drill Results

Goliath Drilling Continues To Intersect High Grade Gold Across Main Zone,

including 6.3 g/t Au over 19.5 m, and Reports Phase 2 Soil Gas

Hydrocarbon Program Completed Along Strike

TSX: TML

OTCQX: TSRMF

TORONTO

April 2, 2020

/CNW/ -

Treasury Metals Inc.

(

TSX: TML

) ("Treasury" or the "Company") is pleased to announce technical program updates at the

Goliath Gold Project in northwestern

Ontario

, including additional Main Zone drilling results.

Highlights include:

TL20-523 intersected

6.3 g/t Au over

19.5 m

including 9.7 g/t Au over

12.0 m

in the Main Zone Central Shoot

TL20-525 intersected

4.8 g/t Au over

9.0 m

including 10.1 g/t Au over

4.0 m

in the Main Zone East Shoot

TL20-522 intersected

2.9 g/t Au over

4.9 m

in the Main Zone Central Shoot

Following the most recent exploration updates (press releases dated

March 10

March 5

and

January 13, 2020

), the Company has completed approximately

9,000

metres of the 15,000 metre program.

Targeting the Central Shoot of the Main Zone, hole TL20-523 found

6.3 g/t Au over

19.5 m

including 9.7 g/t Au over

12.0 m

. Additionally, TL20-522 found

2.9

g/t Au over

4.9 m

which compliments the intersection of

2.3 g/t Au over

15.0 m

including 6.5 g/t Au over

4.0 m

from the same hole previously reported (press

release dated

March 5

, 2020). It is located approximately 40 metres west of hole TL20524 which intersected

3.4 g/t Au over

20.8 m

including 9.1 g/t Au over

4.0 m

(press release dated

March 10, 2020

The Eastern shoot of the Main Zone has also been a focus of the infill program with TL20-525 intersecting

4.8 g/t Au over

9.0 m

including 10.1 g/t Au over 4.0

and

1.7 g/t Au over

2.0 m

Each of these results continues to show strong continuity of the mineralized zone in the proposed mining areas. The updated results show excellent potential for

the upgrade of mineral resources into the Measured category and highly increase the confidence level for early years of proposed mining.

The Company will continue reporting additional assay results as they become available.

Results of Goliath Gold Project Soil Gas Hydrocarbon Program:

The Company is pleased to provide an update of the second phase of the Soil Gas Hydrocarbon program including 1700 samples covering approximately 5

kilometres of strike length east of the Goliath Gold Deposit.

The Company received results from its Phase 2 soil gas hydrocarbon ("SGH") program, which focused on surface sampling areas along strike to the east of the

main resource area, including the large regional fold structure to the northeast and part of the eastern limb of the fold (see results in Figure 1). The Actlabs SGH

interpretation highlighted anomolous areas of interest, analogous to the results found across the current resource area, and given a confidence rating of 4.0 out of

6.0 (the resource area survey scored 5.0 out of 6.0). This work followed an orientation survey (see presss release

October 24, 2019

) which captured the Goliath

deposit and demonstrated strong amenability to vector in on new potential areas of gold mineralization across the 50 km

property.

Figure 1: 3D view of the SGH Pathfinder Class map to predict the presence of gold mineralization (

click to enlarge

)

Figure 1: 3D view of the SGH Pathfinder Class map to predict the presence of gold mineralization (CNW Group/Treasury Metals Inc.)

In addition to completing the SGH program on the remainder of the strike length across the property, several priority areas for follow up field work and infill

samples have been identified through the Actlabs technical work. Conventional soil samples were also collected during the program and will be interpreted and

compiled with the SGH results where they can be incorporated into future exploration programs.

Treasury Metals CEO

Greg Ferron

said, "We are pleased to see that the SGH results are helping to substantiate our hypothesis that there are prospective new

targets across our property, in particular the Nose of the large regional fold structure to the northeast of the deposit. Results like these give confidence that step

out exploration is the next approach for us to grow our resource."

Figure 2:

Goliath Gold Project Exploration Areas of Interest (

click to enlarge

)

Figure 2: Goliath Gold Project Exploration Areas of Interest (CNW Group/Treasury Metals Inc.)

Table 1: Drill Hole Intercepts

Drill Hole

Target

Zone

From (m)

To (m)

Sample

Length

(m)

Grade g/t

TL20-522

Main

285.10

290.00

4.90

2.92

TL20-523

Main

140.00

142.50

2.50

1.47

Main

221.00

240.50

19.50

6.31

Including

222.00

234.00

12.00

9.71

Including

222.00

224.00

2.00

49.45

TL20-525

Main

157.50

166.50

9.00

4.81

Including

162.50

166.50

4.00

10.14

Main

174.00

176.00

2.00

1.69

For duplicate samples, an average of the two gold assays are used to calculate the intersection grade; all grades un-cut, no-capping.

Holes are generally drilled 350-0° Azimuth with inclinations ranging -65 to -80°.

All assays are rounded to two decimal places.

Intervals do not indicate true widths.

*Metallic Screen Fire Assay Results.

COVID-19 Update:

The Company's main priority during the ongoing COVID-19 pandemic is the safety of employees, contractors and communities. As such, we have implemented

precautionary measures and adapted operations to aid in the containment of the virus. Drilling operations have been deferred for the time being, all non-essential

travel has been suspended, and employees in both the Project Office in

Dryden, Ontario

and corporate head office in

Toronto

work remotely wherever possible

and actively ensure physical distancing while our Company follows official health and safety guidance from the World Health Organization, Health Canada,

Government of

Ontario

and local health regions. As a Company, we are committed to working together and assisting local communities where possible to stay

informed and safe.

Qualified Person

Technical information in this press release has been reviewed and approved by

Adam Larsen

, P. Geo, who is the qualified person under the definitions

established by National Instrument 43-101.

To view further details about the Goliath Gold Project, please visit the Company's website at

www.treasurymetals.com

About Treasury Metals Inc.

Treasury Metals Inc. is a gold focused exploration and development company with assets in

Canada

and is listed on the Toronto Stock Exchange ("TSX") under

the symbol "TML" and on the OTCQX® Best Market under the symbol "TSRMF".

QA/QC Program:

The Company has implemented a quality assurance and quality control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in

accordance with the CIM Exploration Best Practices Guidelines. The drill core is sawn in half with one-half of the core sample dispatched to Actlabs facility

located in

Dryden, Ontario

. The other half of the core is retained for future assay verification and/or metallurgical testing. Other QA/QC procedures include the

insertion of blanks and Canadian Reference Standards for every tenth sample in the sample stream. A quarter core duplicate is assayed every 20

sample. The

laboratory has its own QA/QC protocols running standards and blanks with duplicate samples in each batch stream. Additional checks are routinely run on

anomalous values including gravimetric analysis and pulp metallic screen fire assays. Gold analysis is conducted by lead collection, fire assay with atomic

absorption and/or gravimetric finish on a 50 gram sample. Check assays are conducted at a secondary ISO certified laboratory (in this case AGAT Laboratories

located in

Mississauga, Ontario

). Metallic screen fire assaying is now completed using a 1.0 kg sample and four 50 gm fire assays of the pass (-100 mesh)

pulverized material.

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.

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SOURCE

Treasury Metals Inc.

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%SEDAR: 00027114E

For further information:

Greg Ferron, CEO and Director, T: 1.416.214.4654, [email protected]; Mark Wheeler, Director Projects, Goliath Gold

Project, T: 1.416.214.4654, [email protected]

CO: Treasury Metals Inc.

CNW 01:00e 02-APR-20

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