NEXG.V · 2017-12-21 12:00:00

Treasury Metals Closes $4.25 Million Flow-Through Financing, Outlines 2018 Exploration Program

Financings

Treasury Metals Closes $4.25 Million Flow-Through Financing,

Outlines 2018 Exploration Program

/NOT FOR DISTRIBUTION TO

UNITED STATES

NEWS WIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED

STATES

TSX:TML

TORONTO

Dec. 21, 2017

/CNW/ -

Treasury Metals Inc.

(TSX: TML "

Treasury Metals

" or the "

Company

") is pleased to announce that

it has closed the private placement financing previously announced on

December 5, 2017

and upsized on

December 6, 2017

(the "

Offering

"). The

Company issued 6.35 million flow-through common shares ("

Flow-Through Shares

") at an issue price of

$0.67

per Flow-Through Share (the

Issue Price

") for total gross proceeds of

$4,254,500

With completion of the Offering, Treasury Metals has initiated plans to commence its 2018 exploration drill program on its 100% owned Goliath

Gold Project in early January. The H1-2018 program will consist of (i) 12,000 meters of infill drilling to complete the Company's inferred resource

conversion program for the Company's feasibility study, primarily in the lower extents of the central and eastern shoots of the Main and C Zones,

and (ii) 15,000 meters of grass-roots/resource expansion exploration drilling focused on Treasury Metals' high-priority East Resource Target area

as follow-up to the near surface drilling program that was completed this past summer. Gold mineralization was intersected in several drill holes

approximately 80 to 350 meters from the proposed open pit (see press release dated

October 2, 2017

). Due to its location, the East Resource

Target area has the potential to add near-surface mineral resources proximal to the current proposed open pit.

The Offering was completed through a syndicate of agents led by Haywood Securities Inc., and included PI Financial Corp. The Flow-Through

Shares are subject to a four-month hold period, which will expire on

April 22, 2018

The proceeds from the issuance of Flow-Through Shares will be used to incur Canadian Exploration Expenses ("

CEE

"), and will qualify as 'flow-

through mining expenditures' under the Income Tax Act (

Canada

), which will be renounced to the subscribers with an effective date no later than

December 31, 2017

to the purchasers of Flow-Through Shares in an aggregate amount no less than the proceeds raised from the issue of the

Flow-Through Shares.

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 is a gold focused exploration and development company with assets in

Ontario, Canada

and is listed on the Toronto Stock

Exchange ("

TSX

") under the symbol "TML". Treasury Metals Inc.'s 100% owned Goliath Gold Project in northwestern

Ontario

is slated to

become one of

Canada's

next producing gold mines. With first-rate infrastructure currently in place and gold mineralization extending to surface,

Treasury Metals plans on the initial development of an open pit gold mine to feed a 2,500 per day processing plant with subsequent underground

operations in the latter years of the mine life. Treasury Metals is currently in the mine permit process on the Goliath Gold Project.

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.

SOURCE

Treasury Metals Inc.

View original content: http://www.newswire.ca/en/releases/archive/December2017/21/c7639.html

%SEDAR: 00027114E

For further information:

Chris Stewart, President and CEO, T: 1.416.214.4654, [email protected]; Greg Ferron, Vice President,

Corporate Development, T: 1.416.214.4654, [email protected]

CO: Treasury Metals Inc.

CNW 09:02e 21-DEC-17

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