NEXG.V · 2020-07-20 12:00:00

Treasury Metals Provides Update in Platinex Inc. Ownership

Corporate Updates

Treasury Metals Provides Update in Platinex

Inc. Ownership

TSX: TML

OTCQX: TSRMF

TORONTO

July 20, 2020

/CNW/ -

Treasury Metals Inc.

(TSX: TML) ("Treasury" or the

"Company") announces that its ownership of securities of Platinex Inc. ("Platinex") has been

increased to approximately 10.633% of Platinex's issued and outstanding share capital, as a result

of common shares and warrants received as consideration pursuant to a purchase agreement.

Prior to acquisition of common shares and warrants by Treasury, the Company held 1,000,000

common shares, representing approximately 1% of the then issued and outstanding shares of

Platinex. Following the acquisition by Treasury of common shares and warrants of Platinex on

July

15, 2020

, Treasury owns an aggregate of 13,500,000 common shares and 5,000,000 warrants,

representing approximately 10.633% of the issued and outstanding shares of Platinex, and assuming

exercise of its 5,000,000 warrants, Treasury would hold 18,500,000 common shares, representing

approximately 14.019% of the issued and outstanding shares of Platinex.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System. A

copy of the Early Warning Report will appear on the SEDAR website at

www.sedar.com

To view further details about Treasury Metals Inc. and the Goliath Gold Project, please visit the

Company's website at

www.treasurymetals.com

@TreasuryMetals

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".

FORWARD-LOOKING STATEMENTS

Certain of the information contained in this news release may contain "forward-looking information".

Forward-looking information and statements may include, among others, statements regarding the

future plans, costs, objectives or performance of Treasury Metals, or the assumptions underlying

any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely",

"believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form

thereof are used to identify forward-looking statements. Forward-looking statements should not be

read as guarantees of future performance or results, and will not necessarily be accurate indications

of whether, or the times at or by which, such future performance will be achieved. Forward-looking

statements and information are based on information available at the time and/or management's

good-faith belief with respect to future events and are subject to known or unknown risks,

uncertainties, assumptions and other unpredictable factors, many of which are beyond the

Company's control. The Company does not intend, nor does the Company undertake any obligation,

to update or revise any forward-looking information or statements contained in this news release to

reflect subsequent information, events or circumstances or otherwise, except if required by

applicable laws.

SOURCE

Treasury Metals Inc.

View original content:

http://www.newswire.ca/en/releases/archive/July2020/20/c7114.html

%SEDAR: 00027114E

For further information:

Dennis Gibson, Chief Financial Officer, T: 1.416.214.4654,

[email protected]; 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 20:41e 20-JUL-20

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