TORONTO, ONTARIO--(Aug. 12, 2009) - Treasury Metals Inc. ("Treasury Metals" or the "Company")(TSX:TML) is pleased to report initial results from its ongoing exploration program at its 100% controlled Goliath Gold Project, located 20 kilometres east of Dryden, Ontario, Canada. The current surface exploration program is focusing on the northeast extension of the Thunder Lake Gold Deposit which contains anomalous gold mineralization over a minimum strike length of 3.0 kilometres.
The Thunder Lake Gold Deposit ("TLGD") contains more than 1.0 million estimated ounces of gold, comprised of 113,000 indicated ounces and 890,000 inferred ounces, using a cut-off grade of 2.0 g/t Au (see NI 43-101 report - "Report on the Goliath Project, Kenora Mining Division, Northwestern Ontario, Canada" dated December 19, 2008 - filed on SEDAR). Drilling of the TLGD has intersected the Main Zone over a strike length of 1,700 metres and a thickness of 0.5 to 30 metres (average width of 7.6 metres).
During the 1990s Teck Resources Limited and Corona Gold Corp. completed exploration diamond drilling along strike northeast of the TLGD. All 51 historic drill holes completed within the 3.0 kilometre corridor returned anomalous gold intersections ranging from 100 ppb Au to 45.37 g/t Au and reported similar rock types (dominantly quartz-sericite schist/felsic volcanic rocks), alteration and structures to those observed in the Main Zone of the TLGD. In addition, up to 9.47 g/t Au over 1.1 m was reported from altered metasedimentary rocks, suggesting additional target rock types for gold mineralization.
