NEXG.V · 2019-09-04 12:00:00

Treasury's Weebigee-Sandy Lake Gold Project is reporting new gold discovery at the W3 Zone, Sandy Lake, Ontario

Drill Results

Treasury's Weebigee-Sandy Lake Gold Project

is reporting new gold discovery at the W3

Zone, Sandy Lake, Ontario

TSX: TML

OTCQX: TSRMF

TORONTO

Sept. 4, 2019

/CNW/ -

Treasury Metals Inc.

(

TSX: TML

) ("Treasury" or the

"Company") is pleased to announce exploration results, including 0.75 metres of 450 g/t Au and 1.40

metres of 11.85 g/t Au in two holes, by earn-in option partner G2 Goldfields Inc. on the Company's

100%-owned Weebigee-Sandy Lake gold project in northwestern

Ontario

Further details of the earn-in and joint venture agreement between Goldeye Explorations Ltd.,

Treasury's wholly owned subsidiary, and G2 Goldfields Inc. ("G2" or the "Optionee") can be found

on Treasury's website at:

Goldeye Explorations Ltd.

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 in

Ontario

All holes reported in the press release by G2 were drilled on the Weebigee Main block zone which is

subject to the earn-in agreement, effective since

April 2015

. The Weebigee-Sandy Lake gold project

is located 227 kilometres north of

Red Lake

Northwestern Ontario

G2 Goldfields reported in a press release yesterday that a new high-grade, near surface zone was

discovered at the

Sandy Lake

project. The new discovery is located approximately 1.8 km west of

the W1/W2 Zones discovered by Goldeye.

The W3 Zone was initially tested by seven drill holes of which the Optionee has received assay

results for six holes, three of which intersected significant gold mineralization.

Widths are drill indicated core lengths, as insufficient drilling has been undertaken to determine true

widths at this time.

Hole

From (m)

To (m)

Length (m)

Gold (g/t)

19-12

24.00

25.40

1.40

11.85

19-12

32.00

34.51

2.50

1.10

19-14

69.64

70.37

0.73

450.04

19-16

29.4

32.76

3.36

5.29

Drill Hole 19-16 is approximately 230 metres west of holes 19-12 and 19-4. Mineralization in the W3

area is hosted within a tightly folded Banded Iron Formation (BIF), which initial drilling has

demonstrated to be up to 60 metres in width, according to G2. Gold mineralization in the sulphurised

(pyrrhotite, pyrite, and chalcopyrite) BIF; which is coincident with chargeability anomalies defined by

a VTEM geophysical airborne survey flown in 2015, according to the Optionee.

For a summary of the detailed geology, drilling and geophysics of the W series of drill targets

click here

The Optionee also has completed an additional five holes in the W1/W2 areas.

Widths are drill indicated core lengths, as insufficient drilling has been undertaken to determine true

widths at this time.

Significant intercepts include:

Hole

From (m)

To (m)

Length (m)

Gold g/t

19-07

7.24

13.47

6.23

4.85

19-09

12.00

17.21

5.21

5.02

including

14.00

15.00

1.00

12.26

and

44.00

47.00

3.00

1.51

and

64.00

66.00

2.00

3.26

and

143.00

146.00

3.00

1.69

and

148.00

153.00

5.00

2.42

19-10

40.00

45.00

5.00

2.92

19-11

43.06

45.00

1.94

7.05

and

116.00

117.56

1.56

11.25

The W1/W2 zone currently has a strike length of six hundred meters and significant gold

mineralization has been encountered from surface to vertical depths in excess of one hundred

meters.

Treasury Metals has not independently verified the data in the press release issued

September 3,

2019

, by G2 Goldfields Inc., as the results and drill data were not provided in advance of the press

release distribution. As per the G2 Goldfields Inc. press release and at the request of IIROC, below

is the QA/QC on these drill results and the G2 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-Sandy Lake gold project, located near

Sandy Lake

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/September2019/04/c9450.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 08:34e 04-SEP-19

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