TSX: TML
OTCQX: TSRMD
TORONTO, Aug. 17, 2020 /PRNewswire/ - Treasury Metals
Inc. (TSX: TML) ("Treasury" or the "Company")
today announces a planned leadership change, following the recently
completed transaction to acquire the Goldlund Gold project and a
priority to accelerate studies into the development phase of an
integrated Goliath-Goldlund project. The newly constituted
Board of Directors has commenced a formal search for a Chief
Executive Officer appropriate to the in-tandem development of the
gold projects.
Greg Ferron will continue to
serve as Chief Executive Officer while the search is underway.
The Board would like to thank Greg in particular for his
leadership over the past two years as Chief Executive Officer and
previously for his role as Vice President, Corporate
Development.
Bill Fisher, Chairman of the
Company's Board of Directors, commented, "I am happy to see
Treasury conclude this logical and valuable acquisition, and look
forward to the next phase of development. The Board recognizes with
gratitude Greg's leadership and successful delivery of several key
company milestones. We also appreciate his establishment of
constructive relationships with multiple stakeholders, including
equity and debt holders, employees, permitting regulators, public
stakeholders and Indigenous communities."
Greg Ferron, Treasury Metals CEO,
added, "My objectives over the past several years were to see
completion of the Federal Environmental Assessment, and to work
closely with our dedicated employees and shareholders, and,
ultimately, to consolidate the district creating one of the largest
undeveloped gold assets in Canada.
I am thrilled with our success, and it has been a pleasure working
with all stakeholders. I now look forward to seeing a successful
transition and integration into the next critical phase of
construction and production."
To view further details about Treasury, please visit the
Company's website at www.treasurymetals.com.
Treasury Metals Inc. is a gold focused company with assets in
Canada. Treasury's Goliath Gold
Project and Goldlund Gold Project are located in Northwestern Ontario. The projects benefit
substantially from excellent access to the Trans-Canada Highway,
related power and rail infrastructure, and close proximity to
several communities including Dryden,
Ontario. Treasury plans on the initial development of an
open pit gold mine with subsequent underground operations. The
Company also owns several other projects throughout Canada, including Lara Polymetallic Project,
Weebigee Gold Project, and grassroots gold exploration property
Gold Rock/Thunder Cloud.
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. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "plans", "projects", "intends",
"estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions. Actual results or
developments may differ materially from those in forward-looking
statements. Treasury 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.
Since forward-looking information address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include, but are not limited to, exploration and production for
precious metals; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the
uncertainty of resource estimates; health, safety and environmental
risks; worldwide demand for gold and base metals; gold price and
other commodity price and exchange rate fluctuations; environmental
risks; competition; incorrect assessment of the value of
acquisitions; ability to access sufficient capital from internal
and external sources; and changes in legislation, including but not
limited to tax laws, royalties and environmental regulations.
Actual results, performance or achievement could differ
materially from those expressed in, or implied by, the
forward-looking information and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
information will transpire or occur, or if any of them do so, what
benefits may be derived therefrom and accordingly, readers are
cautioned not to place undue reliance on the forward-looking
information.
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SOURCE Treasury Metals Inc.