TML Treasury Metals Inc

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Treasury Metals Inc. ("Treasury" or the "Company") (TSX:TML) is pleased to
announce that it intends to complete, on a private placement basis, an offering
of up to 4,000,000 common shares of the Company issuable as flow-through shares
for purposes of the Income Tax Act (Canada) of the Company (the "Flow-Through
Shares") at a price of $0.75 per Flow-Through Share and up to 967,741 units of
the Company (the "Units") at a price per Unit of $0.62 for aggregate gross
proceeds of up to $3,600,000 (the "Offering"). Each Unit will consist of one
common share and one-half of one common share purchase warrant (each whole
warrant being referred to as a "Warrant") of the Company. Each Warrant will
entitle the holder thereof to purchase one additional common share (a "Warrant
Share") of the Company at an exercise price of $0.75 per Warrant Share for a
period of 18 months from the closing date of the Offering, provided that if, at
any time after the closing date, the Company's common shares trade on a stock
exchange at a price of $1.24 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 received or
deemed to be received by such holders. The Company has engaged a syndicate of
agents, led by MGI Securities and including Casimir Capital L.P. and M Partners
Inc. (collectively, the "Agents"), to act as the agents in respect of the
Offering.


The Company is also offering up to an additional 1,333,333 flow-through shares
at a price of $0.75 per flow-through share on a non-brokered basis for aggregate
gross proceeds of up to $1,000,000 (the "Non-Brokered Offering"). The Company
will pay a finder's fee of 5% per cent of the gross proceeds raised pursuant to
the Non-Brokered Offering.


The Offering is being made by the Agents on a "best efforts" basis and is
subject to certain conditions, including, but not limited to, the receipt of all
necessary regulatory approvals. The Flow-Through Shares and Units will be
offered and sold by way of private placement exemptions in all provinces of
Canada. It is anticipated that the Units will be offered and sold in
jurisdictions outside of Canada and the U.S., as to be mutually agreed to by the
Company, subject to compliance with applicable laws. The Offering and the
Non-Brokered Offering are expected to close on or about November 28, 2010, or on
such other date or dates as the Company and the Agents may agree.


The Company has agreed to pay the Agents a cash commission equal to 7% of the
gross proceeds of the Offering and to issue to the Agents compensation options
entitling the Agents to purchase that number of common shares of the Company
that is equal to 7% of the aggregate number of Units and Flow-Through Shares
sold under the Offering at an exercise price of $0.62 per common share for a
period of 18 months following the closing date of the Offering.


The Company intends to use the net proceeds from the Offering and the
Non-Brokered Offering to advance the Company's 100% owned Goliath Gold Project
towards pre-feasibility by commencing up to 20,000 metres of diamond drilling
and for general working capital purposes. Work will focus on upgrading the
current resources through in-fill drilling, exploration drilling aimed at
building additional ounces for a future updated mineral resource estimate and
implementing recommendations from the recently completed Preliminary Economic
Assessment.


The securities being offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States in
the absence of registration or an applicable exemption from the registration
requirements. This press release does not constitute an offer to sell or the
solicitation of an offer to purchase securities in the United States.


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. The NI
43-101 compliant gold resource contains non-diluted underground Indicated
Resources of 490,000 tonnes grading 5.7 g/t Au (90,000 ounces) and Inferred
Resources of 5,200,000 tonnes grading 4.4 g/t Au (740,000 ounces) and surface
Indicated Resources of 2,900,000 tonnes grading 1.9 g/t Au (180,000 ounces) and
Inferred Resources of 5,400,000 tonnes grading 1.1 g/t Au (190,000 ounces).
Treasury also receives revenue from a Net Smelter Royalty they hold on Goldgroup
Mining Inc.'s Cerro Colorado Mine located in Mexico.


Technical information in this press release has been reviewed and approved by
Scott Jobin-Bevans, Treasury's President and CEO, who is a qualified person
under the definitions established by National Instrument 43-101.


The Company has implemented a quality assurance and control (QA/QC) program to
ensure sampling and analysis of all exploration work is conducted in accordance
with the CIM Exploration Best Practices Guidelines. The drill core is sawn in
half with one half of the core samples shipped to Accurassay Laboratories in
Thunder Bay, Ontario. The other half of the core is retained for future assay
verification. Other QA/QC procedures include the insertion of blind blanks and
standards for every tenth sample in the sample stream. Blind quarter core
duplicates were assayed for 5% of the samples. The laboratory re-assays at least
10% of all samples (pulps and rejects) and additional checks may be run on
anomalous values. Gold analysis is conducted by lead collection, fire assay with
atomic absorption or gravimetric finish on a 30 gram sample. Check assays by a
secondary lab will be completed in the future.


For additional information on Treasury Metals and its projects, please visit the
Company's website at www.treasurymetals.com.


Forward-looking Statements

This press release contains forward-looking statements such as the closing date
of the private placement, the anticipated net proceeds from the private
placement and the expected use of such proceeds, our future financial condition,
results of operations and business. Such statements are based on operations,
estimates, forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult to predict
and may be beyond Treasury Metals' control. A number of important factors could
cause actual outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public filings.
In addition, such statements relate to the date on which they are made.
Consequently, undue reliance should not be placed on such 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.

Grafico Azioni Treasury Metals (TSX:TML)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Treasury Metals (TSX:TML)
Storico
Da Lug 2023 a Lug 2024