NEXG.V · 2020-03-10 12:00:00

Goliath Drilling Intersects High Grade in East Expansion Target and Drills 20.8m of 3.4 g/t Au in Main Zone T SX: TML

Drill Results

Goliath Drilling Intersects High Grade in East Expansion Target and Drills

20.8m of 3.4 g/t Au in Main Zone

SX: TML

OTCQX: TSRMF

TORONTO

March 10, 2020

/CNW/ -

Treasury Metals Inc.

(

TSX: TML

) ("Treasury" or the "Company") is pleased to announce the first assay results from its

expansion drilling in the Eastern Main Zone and additional assays from the Infill drilling in the Main Zone at the Goliath Gold Project located in northwestern

Ontario

Highlights include:

TL20-524 intersected

4 g/t over

20.8 m

including 9.1 g/t Au over

4.0 m

in the Main Zone Infill program. TL20-524 exhibits anticipated results of an

extended mineralized zone with high-grade assays.

Expansion drill hole TL20-517 intersected

4.6 g/t Au over

4.4 m

in the Main Zone and

10.6 g/t Au over

1.0 m

in a hanging wall zone

Expansion drill hole TL20-512 intersected

3.0 g/t Au over

7.0 m

including 5.4 g/t Au over

3.4 m

"We are encouraged with these new Main Zone results that further demonstrate the consistency of mineralization across the high-grade shoots in the deposit. This

complements the program's success in the developing C Zone East area spanning 200 metres along strike by 150 metres down-dip where drilling is now

consistently hitting mineralization in both zones (Main and C Zone) along strike. These drill results along with the Federal Minister's approval of the EA in August

positions us well in an improving gold market," stated

Greg Ferron

, CEO.

Eastern Main Zone Expansion Drilling

Treasury is pleased to announce the first results of its expansion drill program of the high-grade shoots within the Main Zone. These holes were designed to drill

test select targets down-dip, along strike and directly adjacent to the existing high-grade shoots as well as areas identified by recent underground mine scheduling

modelling work. These targets have the potential to add ounces adjacent or below the currently defined resources (see image for additional details).

TL20-517, which was targeted to expand the lower eastern portion of the Eastern high-grade shoot within the Main Zone, intersected

4.6 g/t Au over

4.4 m

with

an additional hanging wall zone that found

10.6 g/t Au over

1.0 m

TL20-512, located 100 metres up-dip of TL20-517, intersected

3.0 g/t Au over

7.0 m

including 5.4 g/t Au over

3.4 m

directly adjacent to the East high-grade

shoot. Additionally, TL20-514 found a wide, low grade intersection of

0.6 g/t over

17.7 m

within the Main Zone and

8.9 g/t Au over

1.3 m

in a hanging wall zone.

The results of these holes have shown good continuity of the mining zones.

Figure 1: Goliath Gold Project Main and C Zone expansion areas (CNW Group/Treasury Metals Inc.)

Infill Program:

A portion of the program has been focused on upgrading specific areas of the Main Zone shoots to the "Measured" classification for inclusion as potential

estimate ounces for the initial mine life years and for grade control purposes. Each of the reported holes have shown very good continuity of the mineralized

areas with high grade.

TL20-524 intersected

4 g/t over

20.8 m

including 9.1 g/t Au over

4.0 m

in the Main Zone Infill program and is located 30 metres down dip of previously

reported TL19-507 which intersected

2.37 g/t Au over

19.0 m

including 6.2 g/t Au over

4.0 m

(see press release

January 13, 2020

). TL20-524 exhibits

anticipated results of an extended mineralized zone with significant high-grade assays. This hole shows strong encouragement of the grade across the main area

of the potentially mineable resource and adds to the confidence of mining zones for early years in the proposed production schedule.

Table 1: Drill Hole Intercepts

Drill Hole

Target

Zone

From (m)

To (m)

Sample Length

(m)

Grade g/t

TL19-512

Main

570.00

577.00

7.00

3.04*

Including

572.80

576.20

3.40

5.40*

Main

580.80

584.40

3.60

0.80

TL20-514

Main

154.80

156.10

1.30

8.86*

Main

528.70

546.40

17.70

0.59

TL20-517

Main

454.00

460.00

6.00

2.42*

Including

454.00

455.00

1.00

10.6*

531.00

533.00

2.00

1.14

Main

658.60

663.00

4.40

4.64*

TL20-524

Main

274.20

295.00

20.80

3.44

Including

281.00

288.00

7.00

2.83

Including

291.00

295.00

4.00

9.06

Including

292.00

293.00

1.00

28.60

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

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.

View original content to download multimedia:

http://www.prnewswire.com/news-releases/goliath-drilling-intersects-high-grade-in-east-expansion-target-and-drills-20-8m-of-3-4-gt-au-in-main-zone-301020584.html

SOURCE

Treasury Metals Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/March2020/10/c9117.html

%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 07:30e 10-MAR-20

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