NEXG.V · 2019-05-13 12:00:00

Treasury's Weebigee Project is reporting High-Grade Gold Discovery; Drills 8 m of 34.5 g/t Gold and 10.33 m of 10.92 g/t Gold in two holes at W1 Zone, Sandy Lake, NW Ontario

Drill Results

Treasury's Weebigee Project is reporting

High-Grade Gold Discovery; Drills 8 m of

34.5 g/t Gold and 10.33 m of 10.92 g/t

Gold in two holes at W1 Zone, Sandy

Lake, NW Ontario

TSX: TML OTCQX: TSRMF

TORONTO, May 13, 2019 /CNW/ - Treasury Metals Inc. (TSX: TML)

("Treasury" or the "Company") is pleased to announce significant

exploration results by earn-in partner G2 Goldfields Inc. on Treasury's

100% owned Weebigee Gold Project in northwestern Ontario.

Further details of the earn-in and joint venture agreement between

Treasury and G2 Goldfields Inc. (formerly named Sandy Lake Gold

Inc.) can be found on its website at the following link:

http://www.treasurymetals.com/s/goldeye_exploration.asp?ReportID=

771305.

Weebigee is part of the package of high-quality Ontario assets

acquired by Treasury in 2016 in connection with the acquisition of

Goldeye Explorations Ltd., which also includes the Shining Tree-

Fawcett and Gold Rock projects.

All holes reported in the press release by G2 Goldfields were drilled

on the Weebigee Main block zone which is subject to the earn-in

agreement, effective since April 2015. The Weebigee Project is

located 227 kilometres north of Red Lake in Northwestern Ontario.

G2 Goldfields reported in a press release today the following: a total of

1,980 meters have been completed; four of the holes were drilled in

the W1 Zone, and two tested geophysical targets approximately 1.5

km to the West. All intercepts reported in this press release are core

lengths, as true widths have not been determined.

W1 Zone Drilling

Hole 19-04 intercepted four zones of quartz veining and pyrite

mineralisation that contained significant gold intercepts including:

• From 58m; 2.4m @ 3.89 g/t Au

• From 69m; 8.0m @ 34.5 g/t Au

• From 95.8m; 1.64m @ 49.83 g/t Au

• From 104m; 3.0m @ 3.06 g/t Au

Gold mineralisation is associated with silica flooding and quartz vein

stockworks hosted within a 46m (downhole length) envelope of

disseminated biotite / pyrite altered Quartz-Eye Porphyry (QEP).

Additionally, in the W1 Zone, Hole 19-06 drilled through the hinge of a

South East plunging syncline, intercepting strong mineralisation within

the QEP above and below a mafic unit, including:

• From 60.10m; 5.80m @ 4.85 g/t Au

• From 83.67m; 10.33m @ 10.92 g/t Au

Greg Ferron, CEO of Treasury Metals Inc., said; "We are exceptionally

happy to see these results. The drilling confirms the highly prospective

gold targets in the area and we are enthusiastic for G2 to continue

their drill program as they earn in to the Weebigee Project."

Two additional drill holes were completed in the W1 Zone, with Hole

19-05 intercepting in a narrow zone of high-grade mineralization within

a broader zone of intense silica flooding and re-folded quartz veining.

Results include:

• From 205.70m; 0.6m @ 81.59 g/t Au

• Hole 19-01 intercepted a 20m (downhole length) zone containing

quartz tourmaline veins within disseminated biotite / pyrite

altered QEP, which contained two anomalous gold intercepts;

• From 268m; 2m @ 0.61 g/t Au

• From 275m; 7.5m @ 0.55 g/t Au

Other Targets

Holes 19-02 and 19-03 were drilled from the ice at geophysical targets

within the nose of a fold at the NW extent of Sandy Lake. Neither hole

intersected significant mineralisation, however the Company has an

additional seven target areas for drilling in the current season.

ASSAY TABLES

Drill Hole From (m) To (m) Length (m) Gold (g/t)

2019 Drilling

19-01 268.00 270.00 2.00 0.61

19-01 275.00 282.50 7.50 0.55

19-02 No significant Mineralisation

19-03 No significant Mineralisation

19-04 58.00 60.40 2.40 3.89

19-04 69.00 77.00 8.00 34.50

(including) 75.50 76.00 0.50 536.37

19-04 95.80 97.44 1.64 49.83

19-04 104.00 107.00 3.00 3.06

19-05 205.70 206.30 0.60 81.59

19-06 60.10 65.90 5.80 4.85

19-06 83.67 94.00 10.33 10.92

(including) 83.67 90.00 6.33 17.37

19-06 375.00 378.58 3.58 1.52

In addition, Treasury Metals continues to advance its Goliath Project

in Dryden, Ontario, with the Federal Environmental Assessment

timeline remaining on track and community relations continuing to

progress. The company expects to release a comprehensive

operational update in the near future.

As per the G2 Goldfields Inc. press release issued today and at the

request of IIROC, below is the QA/QC on these drill results and the

G2 Goldfields drill program.

QA/QC

"Drill core is logged and sampled in a secure core storage facility

located in Sandy Lake, Ontario. Core samples from the program are

cut in half, using a diamond cutting saw, and are sent to SGS Canada

Inc. in Red Lake, Ontario, which is an accredited mineral analysis

laboratory, for analysis. All samples are analysed for gold using

standard Fire Assay-AA (atomic absorption) techniques. Samples

returning over 10.0 g/t gold are analyzed utilizing standard fire assay-

gravimetric methods. Certified gold reference standards, blanks and

field duplicates are routinely inserted into the sample stream, as part

of G2 Goldfield's quality control/quality assurance program

(QA/QC). No QA/QC issues were noted with the results reported

herein.

"All scientific and technical information in this [G2 Gold Fields Inc.]

press release has been prepared under the supervision of Dan Noone

(Director of G2 Goldfields Inc.), a "qualified person" within the

meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology,

MBA) is a member of the Australian Institute of Geoscientists."

To view further details about Treasury Metals Projects in Canada,

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. 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. Goldeye

Explorations Ltd. is a Canadian subsidiary of Treasury Metals Inc.

Goldeye's flagship property is Weebigee, located near Sandy Lake in

Northwestern Ontario, and there are two additional properties in

Ontario (Gold Rock and Shining Tree-Fawcett).

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/May2019/13/c2721.html

%SEDAR: 00027114E

For further information: Greg Ferron, CEO, T: 1.416.214.4654,

[email protected]; Mark Wheeler, Director, Projects, T:

1.416.214.4654, [email protected]; Adam Larsen,

Exploration Manager, T: 1.807.938.6961, [email protected]

CO: Treasury Metals Inc.

CNW 11:32e 13-MAY-19

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