TML Treasury Metals Inc

Treasury Metals Inc. ("Treasury Metals" or the "Company") (TSX:TML) today
announced the results of a metallurgical testwork program completed at G&T
Metallurgical Services Ltd. ("G&T" and part of the Stewart Group) in Kamloops,
B.C. The metallurgical test results have demonstrated exceptional gold
recoveries from the Goliath Gold Project in northwestern Ontario. The sample is
categorized as being non-refractory and free milling, yielding a gold recovery
of 96 to 97%. A simple gravity recovery circuit plus cyanide leach of the
gravity tailings is identified as the best metallurgical flow-sheet for the
Goliath Gold Project.


Martin Walter, Chief Executive Officer, commented, "These results are very
encouraging as they clearly demonstrate that very high gold recovery rates are
possible using known low-cost separation methods. On the basis of these results,
we now plan to expand our metallurgical program to include purposed drilled
holes in the recently identified eastern high grade zone and develop our plans
to include advanced exploration, including the possibility of opening the
historical decline to obtain new bulk samples."


John A. Wells, an independent Metallurgical Consultant was retained by the
Company to oversee the test work at G&T and to provide a preliminary flowsheet
together with an independent assessment of the gold and silver recovery. Mr.
Wells' concluded, "The samples from the Goliath Gold Project gave excellent gold
recovery by gravity and cyanidation, with low reagent consumption, low work
index and excellent settling. This is indicative of free milling, clean,
non-refractory ore. These results can support the development of a concentrator
design and capital and operating costs at scoping or pre-feasibility study
level."


The Company commenced initial metallurgical test work earlier this year (see
press release dated April 4, 2011) with G&T which followed up on the historical
work performed by Teck Exploration Ltd. in 1998. The G&T program tested a
composite of 30 half-core samples taken from the Goliath Gold Project that were
crushed to minus 6 mesh and mixed together to provide one composite for
testwork. The test program was set up to investigate two flowsheets, namely
whole ore cyanidation, and flotation, (with gravity included in both). Based on
this work, G&T reported that the ore is non-refractory and free milling, with a
gold recovery of 96 to 97% using gravity and cyanidation. Test KM2906-01, at a
p80 grind of 105 microns, for example, yielded 71% of the gold to the Knelson
concentrate. The overall gold recovery did not appear to be very sensitive to
either primary grind sizing or target sodium cyanide concentration in the ranges
tested. On the basis of this testing, about 96 percent of the feed gold can be
recovered at a primary grind sizing of 105 microns, K80 and target NaCN
concentration of 500 ppm.


The sample tested had a measured gold and silver feed grade of about 3.5 and 25
g/tonne, respectively. Minor concentrations, all below 0.1 percent, of copper,
lead, and zinc were also present in the sample. Silver recoveries were reported
as being 50 to 60%.




The following flow-sheet for operations is now being considered:            
  1. Primary (Jaw) crusher, to a p80 of 150 mm                              
  2. SAG/Ball mill circuit (chosen for simplicity. Three stage crushing and 
     ball milling would also work well)                                     
  3. Gravity concentration, using primary unit (such as a Knelso) followed  
     by pan or table upgrading.                                             
  4. Intensive cyanidation of gravity concentrate                           
  5. CIL on gravity tailings                                                
  6. Thickening of CIL tails,                                               



Technical information in this press release has been reviewed and approved by
Mr. John Wells, M.A. Sc., Treasury Metals' Consulting Metallurgist, who is a
qualified person under the definitions established by National Instrument
43-101. The Qualified Person for the above testing at G&T is John Folinsbee, P.
Eng., Vice President Operations. 


To learn more about Treasury Metals, please visit the Company's website at
www.treasurymetals.com.


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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