Treasury Metals: Correction to July 13 News Release
15 Luglio 2010 - 1:00PM
Marketwired
Treasury Metals Inc. ("Treasury" or the "Company") (TSX: TML)
announces correction to the news release issued July 13 entitled
"Treasury Metals' Preliminary Economic Assessment Confirms
Potential Economic Viability for Goliath Gold Project."
In the Goliath Gold PEA Highlights the news release incorrectly
stated:
-- Estimated initial capital expenditure of $76 million; Life of Mine
capital expenditure of $117 million; and, payback period of 4 years at
US$850 per ounce gold, or 2 1/2 years at US$1,200 per ounce gold.
The news release should have stated:
-- Estimated initial capital expenditure of $38 million; Life of Mine
capital expenditure of $59 million; and, payback period of 4 years at
US$850 per ounce gold, or 2 1/2 years at US$1,200 per ounce gold.
Qualified Person
Technical information related to the PEA contained in this news
release has been reviewed and approved by Doug Roy, an independent
Qualified Person as defined by NI 43-101, with the ability and
authority to verify the authenticity and validity of this data. The
report titled "Technical Report and Preliminary Economic Assessment
on the Goliath Gold Project", with an effective date of July 9th,
2010 has been prepared by Doug Roy, Patrick Hannon, Ed Thornton and
Ian D. Trinder of A.C.A. Howe International Limited.
About Treasury Metals
Treasury Metals Inc. is a Canadian mining company that is
focussed on expanding the Company's gold resources and developing
its 100% owned flagship Goliath Gold Project located in the Kenora
Gold District of northwestern Ontario. Treasury Metals obtains
significant royalty revenue from an NSR on Goldgroup Mining Inc.'s
Cerro Colorado Mine located in Mexico.
For additional information on Treasury Metals and its projects,
including updated technical information as it pertains to this news
release, please visit the Company's website at
www.treasurymetals.com.
Forward-looking Statements
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.
Contacts: Treasury Metals Inc. Wanda Cutler Corporate
Development Consultant 1.416.303.6460 wandajcutler@gmail.com
www.treasurymetals.com
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