TML Treasury Metals Inc

Treasury Metals Inc. (the "Company") (TSX:TML), a growth orientated gold focused
exploration and development company, is pleased to announce today that it has
completed a non-brokered private placement offering (the "Offering") of
4,267,500 units at a price of $0.20 per unit for gross proceeds of $853,500.


Each unit consists of one common share (each, a "Common Share") in the share
capital of the Company and one-half of one Common Share purchase warrant (each
whole Common Share purchase warrant, a "Warrant"). Each Warrant shall entitle
the Subscriber to purchase one Common Share at an exercise price of $0.30 per
Common Share for a period of 18 months after the closing date of the Offering,
provided that if, at any time after the closing date, the Common Shares trade on
a stock exchange at a price of $0.60 or greater per Common Share for a period of
20 consecutive trading days, the Company may accelerate the expiry date of the
Warrants by giving notice to the holders thereof and in such case the Warrants
will expire on the 30th day after the date on which such notice is given by the
Company.


The Company paid $3,000 and issued 200,000 Common Shares to certain parties with
respect to finder's fees and services provided to the Company in connection of
the Offering.


As part of the Offering, Corona Gold Corporation ("Corona") purchased 1,000,000
units for aggregate consideration of $200,000. In addition, the Company issued
509,233 Common Shares to Corona and 115,596 Common Shares to Teck Cominco
Limited ("Teck"), for no additional consideration, in accordance with its
obligations under the purchase agreement (the "Purchase Agreement") dated
September 24, 2007 with respect to the Company's acquisition of its Thunder Lake
property from Corona and Teck. In accordance with the Purchase Agreement, until
such time as the Company has received aggregate proceeds from the issuance of
additional Common Shares of $1,494,504, Corona and Teck shall also receive, for
no additional consideration, that number of Common Shares sufficient for each of
Corona and Teck to maintain its respective percentage interest in the Common
Shares of 10% and 2.27% before giving effect to any shares purchased by Corona
or Teck for cash.


Following such Common Share and unit issuances to Corona, Corona holds 4,188,104
Common Shares, being approximately 13% of the issued and outstanding Common
Shares and 500,000 Warrants. Assuming the exercise of all of the Warrants held
by Corona, it would hold approximately 14% of the outstanding Common Shares.
Corona intends to hold its Common Shares and Warrants for investment purposes.
Corona may, subject to market conditions and its ongoing evaluation of its
investment in the Common Shares and Warrants, make additional investments in or
dispositions of securities of the Company, 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. 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.


About Treasury Metals Inc.

Treasury Metals Inc. is a mineral exploration and development company with a
growth-orientated strategy to acquire and develop quality precious and base
metals assets in Canada. The Company's flagship asset is the 100% owned Goliath
Project, an advanced-stage, high-grade gold deposit with the potential for
additional silver, lead and zinc credits. The 100% owned Lara Project is an
advanced stage, high-grade base and precious metals project with significant
potential for additional resources in its Lara Deposit. The Company also has an
existing royalty revenue from Sierra Minerals' (TSX:SIM) Cerro Colorado Mine in
Mexico and other monetizable assets. The management team and board are seasoned
mining industry veterans with proven track records. As a spin-off company of
Laramide Resources (TSX:LAM), Treasury benefits from a strong existing
shareholder base. The Company web site is: www.treasurymetals.com.


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, 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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