TML Treasury Metals Inc

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Treasury Metals Inc. ("Treasury Metals") (TSX:TML) announced today that it has
issued an aggregate of 3,286,975 common shares to Corona Gold Corporation
("Corona") and Teck Cominco Limited ("Teck Cominco"), representing 12.27% of the
number of shares of Treasury Metals outstanding after giving effect to such
issuance. The issuance is in satisfaction of the final installment of the
purchase price payable by Treasury Metals pursuant to the purchase agreement
dated September 24, 2007 between such parties with respect to the acquisition of
the Thunder Lake property previously held by Corona and Teck Cominco. Under the
terms of the purchase agreement, Corona and Teck Cominco will receive, for no
additional consideration, that number of common shares of Treasury Metals
sufficient for them to maintain their respective ownership interests in Treasury
Metals until such time as Treasury Metals has received aggregate proceeds from
the issuance of additional common shares of $2,348,004.


Following such share issuance, Corona holds 2,678,871 common shares in the
capital of Treasury Metals, being 10% of the issued and outstanding Treasury
Metals common shares. Corona intends to hold its common shares of Treasury
Metals for investment purposes. Corona may, subject to market conditions and its
ongoing evaluation of its investment in the common shares of Treasury Metals,
make additional investments in or dispositions of securities of Treasury Metals,
including additional purchases or sales of common shares. Corona will be filing
an early warning report as contemplated by National Instrument 62-103 of the
Canadian Securities Administrators in connection with its acquisition of common
shares of Treasury Metals. Any person who wishes to obtain a copy of such report
may contact Orest Zajcew, chief financial officer of Corona, by telephone at
(416) 482-8606.


Treasury Metals and Laramide Resources Ltd. ("Laramide") (TSX:LAM) also
announced that Laramide distributed 16,459,167 common shares in the capital of
Treasury Metals to the shareholders of record of Laramide at the close of
business on August 21, 2008 (the "Record Date") pursuant to its previously
announced return of capital. Pursuant to the return of capital, shareholders of
record of Laramide on the Record Date received one Treasury Metals common share
for each 3.8 Laramide common shares held by them, with fractional shares rounded
down to the nearest whole number.


Following the return of capital, Laramide now holds 4,108,091 Treasury Metals
common shares, being approximately 15% of the issued and outstanding Treasury
Metals common shares. Laramide intends to hold its common shares of Treasury
Metals for investment purposes. Laramide may, subject to market conditions and
its ongoing evaluation of its investment in the common shares of Treasury
Metals, make additional investments in or dispositions of securities of Treasury
Metals, including additional purchases or sales of common shares.


About Treasury Metals

Treasury Metals is a mineral exploration and development company with a
growth-orientated strategy focused on the acquisition and development of
precious and base metals assets in Canada. Treasury Metals' activities are
currently focused on two exploration projects: the Goliath Project, an advanced
stage, high-grade gold deposit near Dryden, Ontario; and the Lara Polymetallic
Project, an advanced stage, high-grade base and precious metal project on
Vancouver Island, British Columbia. In addition to these projects, Treasury
Metals holds rights to receive a net smelter royalty in connection with the
Sierra Minerals Cerro Colorado mine located in Mexico and various investments
acquired from Laramide.


About Laramide

Laramide Resources is engaged in the exploration and development of high quality
uranium assets. Its wholly owned uranium assets are in Australia and the United
States. Laramide's portfolio of advanced uranium projects have been chosen for
their production potential. Its flagship project is Westmoreland, in Queensland,
Australia, one of the largest projects currently held by a junior mining
company. Its U.S. assets include La Jara Mesa in Grants, New Mexico and La Sal
in the Lisbon Valley district of Utah. Its portfolio also includes joint
venture, strategic equity positions and royalty participation in uranium
development and exploration companies that provide additional geographic
diversification and uranium exposure for shareholders.


The reorganization and spin-off of certain of Laramide's non-uranium assets to
Treasury Metals is designed to improve the identification and valuation of
specific Laramide properties, to enhance Laramide's ability to divest specific
properties through simpler corporate ownership, to enter into strategic joint
venture agreements, and to enable Laramide to separately finance and develop its
various assets, selectively reducing stock dilution.


Forward-looking Information

Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains statements about our future financial condition, results
of operations and business. These are "forward-looking" because we have used
what we know and expect today to make a statement about the future.
Forward-looking statements usually include words such as may, expect,
anticipate, and believe or other similar words. We believe the expectations
reflected in these forward-looking statements are reasonable. However, actual
events and results could be substantially different because of the risks and
uncertainties associated with our business or events that happen after the date
of this press release. You should not place undue reliance on forward-looking
statements. As a general policy, we do not update forward-looking statements
except as required by securities laws and regulations.

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