Page 66 By Gregory Reynolds It is one step at a time for T reasury Metals Inc as it advances through the Canadian permitting process to begin production at its openpit gold mine and up to 2500 tonnes per day pro cessing facility in the near future T reasury is a Canadian gold explora tion and development company fo cused on its 100 owned highgrade Goliath Gold Project which currently demonstrates 1165800 ounces Au Eq gold equivalent Measured and Indicated and 341300 ounces Au Eq Inferred The project which is located 20 km east of Dryden in the KenoraDryden district in Northwestern Ontario is slated for near term Canadian gold production W ith frstrate infrastructure currently in place and gold mineraliza tion ex tending to surface T reasury plans on the initial development of an open pit mine to feed a 2500 per day pro cessing plant with subsequent under ground operati ons in the latter years of the mine life Under ground operations will be fund ed from the project s initial cash fow Results of drilling programs have de fned highgrade near surface inter sections indica ting signifcant upside potential for both resource and project economics Low initial startup CAPEX of 133M with cashfows from open pit production funding under ground development and mine expansion The optimized mining plan used in the 2017 PEA envisions under ground production that begins in the second year with the open pit operating over an additional 7 years at a reduced out put to supplement under ground pro duction to a total of 2500 tonnes per day over the course of a 13 year total mine life T otal gold production is estimated at 114 million ounces of gold and 20 million ounces of silver Initial capi tal to fund construction is estimated at C1332 mil lion with an additional C1325 million in sustaining capital over the LOM primarily to fund the under ground expansion Goliath is loca ted in a stable mining friendly jurisdiction of Northwestern Ontario Miningrelated infrastructure and a skilled local workforce are read ily available T reasury has a strong leadership team with successful capital markets mine and operations expertise Chris Stewart T reasury s president and chief executive ofcer said we are pleased with the drilling progress at Goliath for a number of reasons The infll drill results have increased our confdence in the overall resource potential and further support our be lief that gold continues at depth In April it initiated a stepout explo ration program to the northeast along strike to test for additional highgrade gold shoots The company continues to push ahead on all development fronts including the Federal Environmental Assess ment process community and First Nations dialogue and a PreFeasibil ity Study said Stewart W e expect 2018 to beneft from our signifcant eforts over the past several years In addition to the ongoing infll pro gram the company plans an initial 5000 meters of resource expansion exploration drilling focused on T rea sury Metals highpriority East Re source T ar get area as a followup to the successful near surface drilling program that was completed last sum mer Gold mineralization was intersected in several drill holes approximately 80 to 350 metres from the proposed open pit both near surface and at depth Contd on pg 65