NEXG.V · 2018-08-13 12:00:00

Treasury's Exploration and Infill Program Continuing to Intercept Significant Gold Mineralization; Provides Federal Permitting Update

Drill Results

Treasury's Exploration and Infill Program Continuing to Intercept

Significant Gold Mineralization; Provides Federal Permitting Update

TSX: TML OTCQX: TSRMF

TORONTO

Aug. 13, 2018

/CNW/ -

Treasury Metals Inc.

(

TSX: TML

) ("Treasury" or the "Company") is pleased to announce assay results from three active

exploration drilling zones, including results in the East Resource Target area, down dip within the developing C Zone shoot, and additional deep Main Zone infill

drilling at the Company's flagship Goliath Gold Project located in northwestern

Ontario

Highlights include:

TL18-499A:

3.81 g/t Au and 34.65 g/t Ag over

13.00 m

including 10.17 g/t Au and 120.47 g/t Ag over

3.00 m

in the eastern edge of the Main Zone

TL18-494:

111 g/t Au over

1.00 m

in the East Resource Target area

TL18-488A:

3.87 g/t Au over

4.70 m

including 15.60 g/t Au over

1.00 m

in the East Resource Target area

As a follow up to previously released hole TL18-489, TL18-500 intersected

2.04 g/t Au over

8.40 m

, 1.64 g/t Au over

6.00 m

and 1.22 g/t Au over

8.00 m

in the Main Zone and continued into the developing C Zone shoot, intercepting

3.70 g/t Au over

4.00 m

The highest silver assays reported in the program was associated with gold assays from TL18-489, which intersected

310.67 g/t Ag over 3.00

including

921 g/t Ag over 1.

00 m

, found at the bottom of the C Zone shoot

Figure 1:

Plan View, 2018 Infill Drill Program Collar Location Map

(Click here to enlarge)

Figure 1: Plan View, 2018 Infill Drill Program Collar Location Map (CNW Group/Treasury Metals Inc.)

Resource Expansion & Exploration Program - East Resource Target:

The East Resource Target area has progressed well with all new holes intersecting gold mineralization. This area is located 80 to 350 metres east of the

proposed open pit. As detailed in the long section image, the East Resource Target mineralization appears in the C zone which is located approximately 40

metres behind the Main Zone. This program, together with past drilling, warrants further exploration and delineation drilling which could define the extents of the

mineralization, as well as increase the overall resource within the C Zone for inclusion into future resource estimates.

This program was a follow-up to the near surface drilling program completed last summer (including TL17-445: 2.26 g/t Au over

5.83 m

announced in press

release dated

Oct. 2, 2017

) and exploration holes from previous operator Teck Exploration. TL18-494 intersected 111 g/t Au over

1.00 m

(initial 50g Fire Assay

reported 238 g/t Au over

1.00 m

) approximately 30 metres along strike to Teck hole TL205 which contained 1.51 g/t Au over

9.00m

. Teck hole TL205 is also 75

metres up dip from TL18-488A which intersected 3.87 g/t Au over

4.70 m

Other intervals include TL18-490A with 1.86 g/t Au over

4.50 m

occurring 40 metres to the west of Teck hole TL136W1 containing 75.85 g/t Au over

0.70 m

and

TL18-498 with 1.24 g/t Au over

6.00 m

approximately 75 metres down dip of Teck hole TL200 containing 4.78 g/t Au over

4.50 m

Figure 2:

Goliath Gold Project C Zone Longitudinal Section of the Developing Underground area

(Click here to enlarge)

Figure 2: Goliath Gold Project C Zone Longitudinal Section of the Developing Underground area (CNW Group/Treasury Metals Inc.)

Infill Drilling Program and C Zone Shoot Expansion:

This part of the drill program focused on further defining key locations along the periphery and down dip of the Main and C Zone shoots. Each intersection occurs

near the edge of known mineralization, attempting to expand the current resource and continues to generate additional targets into previously undrilled territory.

TL18-499A's interval of 3.81 g/t Au and 34.65 g/t Ag over

13.00 m

was found along the eastern edge of the east high-grade shoot within the Main Zone. This

occurs 50 metres along strike to previously reported TL18-469 which returned 5.04 g/t Au over

6.00 m

(see press release dated

March 27, 2018

Hole TL18-500 targeted both the west shoot within the Main Zone and the C Zone shoot with intersections of 2.04 g/t Au over

8.40 m

and 3.70 g/t Au over

4.00 m

respectively. The Main Zone interval followed up on hole TL18-474 with 7.56 g/t Au over

7.00 m

and the C Zone interval was near TL18-489 with 65.78 g/t Au

over

3.00 m

, both reported in a previous release dated

May 30, 2018

. TL18-489 has returned significant silver within the C Zone since that release with 310.67

g/t Ag over that same

3.00 m

interval, including 921 g/t Ag over

1.00 m

A table of assays is provided below. See attached long section for all intersection locations.

Mine Permitting Update:

The Company is pleased to provide an update as it continues to advance the necessary Federal mine permitting process. The Canadian Environmental

Assessment Agency (CEAA) has completed a technical review of the revised Environmental Impact Statement submitted in May (see press release

May 14,

2018

). The Company is satisfied with the scope and content of information requests (IR) received from CEAA's review. The Company continues to work with its

lead consultant, Wood Environmental, and expects to provide CEAA with detailed responses to the IR's in the fourth quarter to advance the Federal permitting

process into its final phase.

Note: All holes are drilled north to intersect the zones at a perpendicular angle. Due to the sequence of zones (HW, Main, B, C, etc.), any hole targeting the C

Zone will also pass through the Main Zone. Alternatively, not all holes targeting the Main Zone will be extended into the C Zone.

Table 1: Infill Drill Hole Intercepts

Drill Hole

Target

Zone

From (m)

To (m)

Sample Length

(m)

Grade g/t Au

g/t Ag

TL18480

C Zone

Main

35.00

37.40

2.40

1.64*

67.31

129.00

133.00

4.00

2.12*

11.18

TL18481

C Zone

152.00

161.00

9.00

0.91*

3.92

169.00

171.20

2.20

1.46*

6.75

TL18483

C Zone

Main

213.00

215.80

2.80

1.01*

15.49

Main

232.00

235.00

3.00

1.70*

3.50

330.00

337.00

7.00

1.19*

7.12

TL18484

C Zone

Main

398.00

400.00

2.00

1.16

0.70

562.90

564.90

2.00

1.39

10.18

TL18485

C Zone

Main

120.40

123.40

3.00

1.36*

29.43

254.00

260.00

6.00

0.61

1.71

TL18486

C Zone

Main

150.00

160.00

10.00

0.63

3.67

274.70

278.00

3.30

1.63*

8.15

Including

275.40

276.00

0.60

5.24*

29.70

TL18487

C Zone

Main

439.00

444.00

5.00

1.00*

1.62

Main

484.00

486.00

2.00

6.68*

1.90

Including

484.00

485.00

1.00

13.1*

2.40

539.90

541.30

1.40

1.73*

16.55

553.00

563.00

10.00

0.66*

11.88

TL18488A

C Zone

488.00

492.70

4.70

3.87*

2.59

Including

488.00

489.00

1.00

15.6*

4.10

TL18489

C Zone

528.40

531.00

2.60

3.47ǂ

63.43

Including

528.40

529.40

1.00

6.10ǂ

143.00

542.00

545.00

3.00

65.78ǂ

310.67

Including

543.00

544.00

1.00

196.00ǂ

921.00

TL18490A

C Zone

537.80

542.30

4.50

1.86*

6.82

Including

538.60

539.30

0.70

7.80*

25.20

TL18491A

C Zone

Main

173.00

180.00

7.00

1.01*

2.40

278.00

280.00

2.00

1.46*

5.10

TL18492

Main Zone

247.00

252.10

5.10

1.11*

Main

294.00

299.00

5.00

1.31*

TL18493

Main Zone

Main

516.00

528.00

12.00

1.00*

1.92

TL18494

C Zone

390.00

399.00

9.00

0.94*

23.98

426.00

430.50

4.50

25.20*

3.98

Including

426.00

427.00

1.00

111.00**

11.10

454.20

458.00

3.80

2.42*

3.31

Including

454.20

455.00

0.80

8.87*

9.10

TL18495

Main Zone

254.90

259.00

4.10

0.83*

59.81

Main

387.00

392.00

5.00

1.56*

2.60

TL18496

C Zone

188.40

191.00

2.60

3.74*

0.65

Including

189.00

190.00

1.00

6.19*

0.70

Main

334.00

337.00

3.00

4.54*

1.47

Including

336.00

337.00

1.00

13.00*

1.40

Main

341.00

343.00

2.00

1.98*

12.55

444.00

449.00

5.00

0.66*

3.14

TL18497B

Main Zone

Main

423.00

424.80

1.80

0.93*

6.43

Main

434.00

439.00

5.00

0.73*

8.90

519.00

521.00

2.00

3.83*

4.75

Including

519.00

520.00

1.00

6.11*

0.10

TL18498

C Zone

338.00

344.00

6.00

1.24*

18.49

TL18499A

Main Zone

Main

516.00

529.00

13.00

3.81*

34.65

Including

516.00

519.00

3.00

10.17*

120.47

TL18500

Main Zone

Main

381.00

389.40

8.40

2.04*

4.81

Including

381.00

382.00

1.00

7.33*

0.80

Main

402.00

404.00

2.00

2.15*

59.65

Main

417.00

423.00

6.00

1.64*

4.41

Main

441.00

449.00

8.00

1.22*

4.80

541.00

545.00

4.00

3.70*

2.35

Including

541.00

542.00

1.00

12.80*

4.40

TL18501

C Zone

355.00

368.50

13.50

0.59*

5.42

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

**Initial 50g Fire Assay for this interval calculated at 238 g/t

ǂ Result reported in previous press release

P – Assay results pending

Full Table of Assays will be provided on the company's website

The company has not used a Gold Equivalent (AuEq) for the contained silver for this release but would expect the recovery of silver to increase the overall

contained AuEq by a small amount in future studies.

Figure 3:

Goliath Gold Project, Longitudinal Section Main Zone Classes 2018 Infill Pierce Points

(Click here to enlarge)

Figure 4:

Goliath Gold Project, Longitudinal Section Main Zone Classes 2018 Infill Pierce Points

(Click here to enlarge)

Qualified Persons

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. All results from the program will be available for viewing in the Complete Assay Table on the Company's website.

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 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. Treasury's flagship Goliath Gold Project is located in northwestern

Ontario

. The project benefits substantially

from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including

Dryden, Ontario

Treasury Metals plans on the initial development of an open pit gold mine with subsequent underground operations. The Company also owns several other

projects throughout

Canada

, including Lara Polymetallic Project, Weebigee Gold Project, and grassroots gold exploration properties Goldrock/Thunder Cloud and

Shining Tree properties.

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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http://www.prnewswire.com/news-releases/treasurys-exploration-and-infill-program-continuing-to-intercept-significant-gold-mineralization-provides-federal-permitting-update-300695857.html

SOURCE

Treasury Metals Inc.

View original content with multimedia: http://www.newswire.ca/en/releases/archive/August2018/13/c4857.html

%SEDAR: 00027114E

For further information:

Greg Ferron, Interim CEO, T: 1.416.214.4654, [email protected]; Robert (Bob) MacDonald, Vice President, Goliath Gold

Project, T: 1.807.938.6961, [email protected]

CO: Treasury Metals Inc.

CNW 07:30e 13-AUG-18

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