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Treasury's Goliath Gold Project Achieves Permitting Milestone with Federal Release of Draft EA

 TSX: TML        OTCQX: TSRMF

TORONTO, June 14, 2019 /PRNewswire/ - Treasury Metals Inc. (TSX: TML) is pleased to provide an update on the advancement of the federal Environmental Assessment process for the Company's Goliath Gold Project in Northwestern Ontario (the "Project").

As part of the Federal Environmental Assessment ("EA") mine permitting process, the Canadian Environmental Assessment Agency ("the Agency") has released their Draft Environmental Assessment (EA) Report ("Draft EA Report") and the potential conditions that would be applied and be legally binding following an approval of the Project under the Canadian Environmental Assessment Act, 2012

"With the significant resources our Company and stakeholders have invested in the EA process, the full value of our advanced gold development project in Northwestern Ontario is near to being realized," said Greg Ferron, Chief Executive Officer of Treasury Metals Inc. "This final public comment period runs until July 12, 2019, and we encourage the public, interested parties and stakeholders to review and comment during the next month."

Following the conclusion of the 30-day final public comment period on the Draft EA Report and potential conditions of approval, the Agency will consider all comments received and submit a final EA Report and potential conditions to the Minister of Environment and Climate Change, who will then render a decision notice.

The Draft EA Report provides a detailed overview of the project and a copy of CEAA's Draft EA Report can be found on the Agency's website at https://ceaa-acee.gc.ca/050/documents/p80019/130192E.pdf. The Agency's news release is available by clicking here.

To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.

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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.

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