Treasury Metals Closes RMB Resources $6 Million Financing

TSX: TML

TORONTO, Feb. 19, 2014 /CNW/ - Treasury Metals Inc. (TSX:TML) is pleased to announce it has completed all conditions precedent including all technical and legal due diligence requirements for the $6 million feasibility funding facility with RMB Resources Inc. ("RMB") (the "Facility"). This provides the ability to access funds pursuant to the Facility Agreement entered between the Company and RMB on December 20, 2013A.

The Facility, of which an initial $3 million is available immediately and a second tranche of $3 million is available upon completion of specified project milestones, has a term of 2.5 years. When drawn, it will bear interest at CDOR plus 7.5% per annum and a 2.0% per annum fee will be paid on the available but undrawn amount of the initial $3 million tranche. In addition, in connection with the initial tranche, 1.5 million financier warrants were issued to RMB at closing, which entitles RMB to purchase a common share of the Company at an exercise price of $0.395 for a period of 3.5 years. Additional terms related to the Facility were previously announced on November 15 and December 4, 2013A.

The Company also today announced the appointment of Flora Wood to its Board of Directors, effective immediately. Ms. Wood has more than 15 years' capital markets and investor relations experience including as the former Director, Investor Relations for Inmet Mining Corp. until its acquisition by First Quantum Minerals Ltd., and prior to Inmet, was part of the Aquiline Resources Inc. management team until its acquisition by Pan American Silver Corp. Ms. Wood currently leads the investor relations team for Essar Steel Algoma. Ms. Wood also has a background in the financial services industry and holds an M.A. from University of Toronto.

"Adding an experienced financing partner like RMB at this stage is an important precedent for the Company and Project," stated Martin Walter, Treasury's President and Chief Executive Officer." Also, I am delighted to have Flora join the Treasury Metals' Board of Directors, having previously worked with her at Aquiline, I know the unique set of skills and industry contacts she will bring to the team."

Finally, the Company's drilling program at its flagship Goliath Gold Project located in Northwestern Ontario is ongoing and results will be provided as they become available.

ABOUT RMB RESOURCES

RMB Resources is the resource financing division of the FirstRand Group; one of the largest listed financial services companies listed on the Johannesburg Stock Exchange. RMB specializes in providing equity and debt-financing solutions for small to mid-tier resource companies globally. RMB Resources provides debt funding through conventional project financing, commodity pre-paid forward financing as well as senior, subordinated, standby and bridge financing. Staffed with experienced mining executives, RMB Resources operates from its offices in Sydney, Melbourne, London, Johannesburg, Denver and New York.

ABOUT TREASURY METALS

Treasury Metals Inc. is a Toronto-based, TSX-listed mining exploration and development company developing and permitting the Goliath Gold Project located in Northwestern Ontario. The Company's flagship Goliath Gold Project is a high-grade gold resource that demonstrates strong market fundamentals, access to excellent infrastructure and a skilled local workforce. Treasury Metals has commenced the mine permitting process with the vision of a combination of an open pit and underground mining methods. Established in 2008, Treasury Metals operates corporate headquarters in Toronto and a project office at the Goliath Gold Project.

To view further details about the Goliath Gold Project, please visit the Company's website at www.treasurymetals.com.

Forward-looking Statements
This press release contains forward-looking statements such as the expected use of the net proceeds from the private placement, our future financial condition, business plans and objectives, results of operations and business. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance or events 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 herein and 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.

SOURCE Treasury Metals Inc.