Treasury Metals


Primary ticker: TSX:TML, OTCQX:TSRMF
Stage of development: Exploration, Development
Primary minerals: Gold, Silver
Project to promote: Goliath Gold Complex
Project location: Canada

Treasury Metals Inc. is a gold focused company with assets in Canada. Treasury’s Goliath Gold Complex, which includes the Goliath, Goldlund and Miller deposits, is located in Northwestern Ontario. The deposits benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario. The Company also owns several other projects throughout Canada, including the Lara Polymetallic Project, Weebigee-Sandy Lake Gold Project JV, and grassroots gold exploration property Gold Rock. Treasury Metals is committed to inclusive, informed and meaningful dialogue with regional communities and Indigenous Nations throughout the life of all our Projects and on all aspects, including: creating sustainable economic opportunities, providing safe workplaces, enhancing of social value, and promoting community well-being.

Cash: CAD$$23.7M
Debt: CAD$5.5M

Major shareholders:
First Mining – 15%
Extract Capital
Sun Valley
Management Ownership – 2%

Management Profile

Jeremy Wyeth – President, CEO and Director

Mr. Wyeth is President, Chief Executive Officer (since December 2020) and Director of the Company (since June 2021). Prior to this, Mr. Wyeth was Operations Director (2017-2020) at Wood Canada Ltd. a large engineering company, where he led the Oakville office with a strong focus on both local and international projects. Mr. Wyeth started his career with De Beers (1988-2009), and worked on mines around the world in Canada, Russia, Brazil and South Africa. With De Beers, he moved to Canada to lead the development, construction, commissioning and ramp up of the Victor Diamond Mine in Northern Ontario. He took the Victor Project from pre-feasibility study to nameplate capacity. The Victor Project had a capital budget of $1 billion and under Mr. Wyeth’s leadership, it was completed nine months ahead of schedule and under budget. Over his career, Mr. Wyeth has held various senior management positions (2011-2019), including with Excellon Resources and Anglo American. He previously served on the boards of Vector Resources Inc., DRA Americas Inc., DRA Brazil and the Ontario Mining Association. He holds a BSc in Mining Engineering from the University of Witwatersrand.

What is your rationale for taking part in 121 Mining Investment?

We would like to meet with existing and potential investors who are interested in investing in gold companies, specifically investors looking to invest in development stage projects.

What recent news would you like to highlight to investors attending?

We completed a royalty financing in April 2022 that provides the company with the funding to take us through studies, permitting, community consultations to a project financing decision. We released an updated mineral resource estimate in April 2022 that showed a 9% increase in Measured and Indicated, and a 48% increase in Inferred mineral resources. Our generative exploration program has uncovered new targets on our property package that have intersected significant intercepts of gold that we are following up on.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
We intend to release a pre-feasibility study before the end of 2022.


6 Months:
We will continue drill testing our exploration targets on our property package and work to advance the feasibility study and begin discussions with project finance partners.


12 Months:
We would aim to continue to progress on our permitting and community engagement activities, complete additional drilling on some of our newly identified targets and release a feasibility study which will form the basis of our project from which we would seek a project financing solution.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The key risks facing the company are delays in permitting, which we intend to mitigate through continuous dialogues with our communities and by the addition of our VP of Environment and Regulatory Affairs who has permitted projects in Ontario and previously worked for the government at CEAA and DFO, inflationary pressures and a challenging market for mining equities.

What do you think makes your company such a compelling investment?

We have a development focused team that has permitted and built projects in Canada and around the world. Our project is located in close proximity to significant infrastructure in a mining friendly jurisdiction and we have a project with solid base case economics on a property package that has multiple potential targets for growth.

What are the top 3 key investor takeaways?

Strong management team, solid financial position, attractive valuation.