TSX:TML

Advancing Toward Production

in Ontario TREASURY METALS

February 2014

ww.treasurymetals.com

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FORWARD-LOOKING STATEMENTS

+ This presentation contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change. This presentation contains projections and forward looking information that involve various risks and uncertainties regarding future events. Such forward looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

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TREASURY METALS – HIGHLIGHTS

+ Flagship high-grade gold project in Ontario

– 1.7 million ounces in the combined category (760k Indicated and 940k Inferred) from November 2011 resource estimate

– High-grade 2.87 g/t Au based on PEA mineable ounces

+ Achievable $92 million CAPEX to produce 80,000 – 100,000 ounces per year for 10-year mine life

+ Highway accessible location with excellent infrastructure

+ One of four gold projects engaged with Federal Government with Environmental Impact Statement (EIA) nearing completion

+ Treasury & Teck (historical) have made considerable investment at Goliath

+ Fully funded to complete resource estimate, feasibility, EIA and permitting

+ Attractive valuation / capital structure and cash flowing royalty stream

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GOLIATH GOLD PROJECT – NORTHWESTERN ONTARIO

+ Situated on the Trans-Canada Highway, 20 km east of the city of Dryden

+ Power, local workforce and transportation all readily available

+ Ontario/Canada developing new streamlined permitting process

+ Brigus, Rainy River, Trelawney, Prodigy and Queenston take-overs confirm Ontario as foremost region

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GOLIATH GOLD PROJECT – REGIONAL AREA

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• Rainy River/NewGold

• Hammond Reef (OSK)

• Cameron Lake (CCY)

• Red Lake (Goldcorp)

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TREASURY METALS – LOOKING AHEAD 2014

•Fully funded today to shovel ready

•Strategic financing with RMB Resources closed

•Continue to advance Project Financing alternatives

Corporate/ Strategic Investor

•Completion of in-fill drilling and expansion program

•Operation and mine design/plant engineering

• Initiation of feasibility study Feasibility Study

•Update resources to Indicated Category

•Continue to define C Zone and new shoots

•Drilling at recently acquired property

Exploration

•Completion of Environmental Impact Statement

•First Nations IBA discussions

•Federal and Provincial Permits moving ahead Permitting

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TREASURY METALS – EXPLORATION FOCUS

Exploration Program Focus

+ Infill and expansion in the Main Zone resource area:

– Designed to increase resource and upgrade into the Indicated category for Feasibility Study, adding open pit ounces and improve strip ratio

– Central and western portion of Main Zone and C Zone

– Drilling Main Zone at Depth

+ Drilling in the C Zone

- Further delineate the C Zone in open pit areas / new C Zone shoots to add open pit ounces, extend mine life and improve stripping ratio

+ Identifying new open pit material outside resource area:

– New mineralized shoot identified in summer along 7 km mineralized trend

– C Zone and new Norman property acquisition

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GOLIATH GOLD PROJECT – EXPLORATION PROGRAM

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+ Encountered new

high-grade shoot

just east of the deposit

and in the C Zone

+ New infill and

expansion program

has been commenced

in resource area and in

the C Zone

+ Focused on

identifying new open pit

material outside

resource area including

the new Norman

property

TML Exploration Office

Exploration drilling along limb and nose of fold

Current resource area

Mineralized extension

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GOLIATH GOLD PROJECT – C ZONE PARALLEL TO MAIN ZONE

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C Zone

Main Zone

Near surface

resources

Near surface

resources High-grade shoot

High-grade shoot

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GOLIATH GOLD PROJECT- OPEN PIT DEPOSIT

+ Two principle zones: Main Zone and C Zone. Planer in nature and dipping at approx. 75 degrees and the ore body is consistent.

+ Average widths of 5 metres and 30 metres for Main and C Zones respectively with the C Zone situated approx. 40 metres behind the Main Zone (North) and runs parallel.

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C Zone

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GOLIATH GOLD PROJECT – PROJECT ECONOMICS FROM PEA

+ Positive results from PEA indicate a profitable open pit followed by underground (UG) mine.

– 10+ year total mine life;

– 2500 tpd C.I.L Plant, producing 80,000 oz/year;

– LOM average feed grade of 2.87 g/t Au and 9.30 g/t Ag;

– $92 Million Capex, UG development supported by cash flows. Total LOM capital cost of $200M

– Mining Costs – $3.01/t Open Pit, $60 /t UG, $15.80 Processing, Total of $700 Cash cost/oz;

– After Tax NPV (5%) of $144.3M, IRR 32.4%, 2.8 year payback. Pre-Tax values – NPV $199.0M, IRR 39.3%, 2.2 year payback.

– 9.3:1 overall stripping ratio. Opportunity to lower in east pit with additional Main and C Zone drilling

The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

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GOLIATH GOLD PROJECT- RECENT PROPERTY ACQUISITIONS / NEW TARGETS

+ The two properties acquired were chosen due to their close proximity to the strikeline and the operational flexibility they will offer for both mining and infrastructure

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GOLIATH GOLD PROJECT – PERMITTING PROCESS UNDER WAY

+ Treasury Metals achieves permitting milestone:

– Initiates the official permitting and approvals process for mine development by filing Project Description (PD) in December 2012

+ CEAA provided guidelines to create an Environmental Impact Statement (EIS) in January 2013

+ Essential environmental baseline programs (Geochemistry, Ground Water, Geotechnical) nearing completion, final reports pending.

+ Target date to submit EIS in 2014

+ A key part of the Environmental Assessment (EA) process includes consultations and communications with all stakeholders and to continue on an ongoing basis

+ Federal EA Approval is expected in early 2015

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GOLIATH GOLD PROJECT – SITE PLAN

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GOLIATH GOLD PROJECT- INFRASTRUCTURE IN PLACE

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+ NW Ontario provides

excellent infrastructure,

reduces costs

+ Local workforce and

transportation all readily

available

+ Historical government

offices and warehouses are

now TML’s exploration and

development site

+ Power (gas and hydro)

infrastructure in place and

on-site

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GOLIATH GOLD PROJECT – PROJECT TIMELINE

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Upcoming Development Gold Projects – Capex/Market Cap. Vs. IRR

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Source: Technical reports, press releases, investor presentations and other company disclosure documents (September 2013)

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Ticker symbol TML

Listing TSX

Recent share price (February 11, 2014) $0.36

Shares outstanding (Basic) 73.5 million

Shares outstanding (Fully-Diluted) 82.8 million

Market capitalization $28 million

Cash and Investments Position $6.0 million1 + royalty income + RMB facility

Shareholder Composition Retail (45%); Institutional (40%); Insiders (15%)

Top Holders (included in institutional/mgmt) Insiders (15%); Laramide (6.5%); Canaccord Retail (~6.4%); Corona (6%); Front St. (~5%); Sprott (~2%);

TREASURY METALS – MARKET DATA

18 1 Cash position assumes only first tranche drawdown of RMB facility

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RMB FACILITY

+ RMB Resources, a well respected investor, provided the Company a $6 million Feasibility Finance Facility

– Available in two tranches of $3 million

+ Transaction funds technical programs (plus existing cash) to production decision stage

+ A facility term of 2.5 years (July 2016) at CDOR plus 7.5% per annum (equivalent to ~8.8%)

+ Financing warrants provided to RMB for equity upside

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ATTRACTIVE VALUATION

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EV/Resource – Ontario Junior Gold Exploration and Development Companies

Recent Acquisitions of Junior Gold Exploration and Development Companies in Ontario

Source: Canaccord Genuity, Company Reports, Capital IQ AuEq is based on gold and silver resources only and assumes long-term metal prices of $1,391/oz Au and $21.24/oz Ag Current as of January 24, 2014

Market Enterprise Total Attributable Resource EV / Resource

Company Capitalization Value Key Asset Stage M&I MI&I M&I MI&I

(C$M) (C$M) (million oz Au Eq) (million oz Au Eq) (C$/oz Au Eq) (C$/oz Au Eq)

Gold Canyon $39.4 $32.4 Springpole PEA 4.8 5.5 $6.78 $5.88

Gowest $11.4 $9.4 North Timmins PEA 0.9 1.5 $9.93 $6.34

Harte $13.0 $11.3 Sugar Zone PEA 0.3 0.4 $41.07 $27.80

Lexam VG $28.3 $24.3 Buffalo Ankerite PEA 1.3 2.2 $18.49 $11.04

Moneta Porcupine $15.5 $10.8 Golden Highway PEA 1.1 4.3 $9.86 $2.50

Northern Gold $8.4 $6.1 Golden Bear Pre-feasibility 1.3 1.9 $4.58 $3.14

Premier $302.9 $222.6 Hardrock PEA 4.4 9.0 $51.16 $24.65

Probe $208.6 $175.2 Borden Adv. Exploration 4.0 4.8 $43.99 $36.33

Rubicon $392.8 $292.5 Phoenix Construction 1.1 3.3 $259.10 $87.37

Temex $14.4 $10.4 Juby Adv. Exploration 1.6 4.6 $6.66 $2.27

Average 2.1 3.8 $45.16 $20.73

Treasury $25.7 $23.4 Goliath PEA 0.8 1.7 $29.05 $13.73

Date Enterprise Total Attributable Resource EV/Resource

Announced Acquiror Target Value M&I MI&I M&I MI&I

(US$M) (M oz Au Eq.) (M oz Au Eq.) (US$/oz Au Eq.) (US$/oz Au Eq.)

May 31, 13 New Gold Inc. Rainy River Resources Ltd. $291.8 6.3 8.7 $46.17 $33.62

Nov 12, 12 Osisko Mining Corporation Queenston Mining Inc. $433.2 2.1 4.0 $210.51 $108.17

Oct 15, 12 Argonaut Gold Inc. Prodigy Gold Incorporated $281.6 5.9 6.2 $48.01 $45.13

Apr 27, 12 IAMGOLD Corporation Trelawney Mining and Exploration Inc. $513.5 0.9 7.4 $596.96 $69.54

Average 3.8 6.6 $225.41 $64.12

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TREASURY METALS – BOARD OF DIRECTORS

Marc Henderson Chairman

Former CEO and President of Aquiline, Director of Lydian International

President and CEO of Laramide (currently largest shareholder of TML)

Extensive industry experience

Martin Walter President and CEO

See Management

Doug Bache Independent

20+ years experience in mine finance and development and Director /Officer of various public companies

Bill Fisher Independent

GoldQuest Mining Corp. Chairman, past CEO/Director of Karmin Exploration Inc. (KAR:V) and director of PC Gold Inc. (PKL:T), past Chairman of Aurelian Resources Inc.

Blaise Yerly Independent

Based in the financial community of Switzerland; past Director and Chairman of Aquiline Resources Inc.

Managing Director of Minosucra LLC (formerly Triumph International Trading Ltd.)

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TREASURY METALS – MANAGEMENT TEAM

Martin Walter President and CEO

Executive VP of Aquiline and Former CEO of Sierra Minerals (now GoldGroup)

Co-founder of Crown Point Ventures based in Argentina

Worked as a geologist internationally, MBA University of Toronto

Dennis Gibson Chief Financial Officer

Various senior financial positions at public and private companies for 30 years Past CFO of Aquiline Resources, and current CFO of Laramide

Norm Bush Vice President, Goliath Gold Project

An Engineer with extensive executive experience primarily in Forestry sector

Led teams that completed major capital projects including Dryden’s mill

Greg Ferron Vice President, Corporate Development

10+ years of capital markets experience; previous Head of Global Mining, BD,TSX

Advised public mining companies on equity based transactions, VP of Laramide

Mark Wheeler Senior Mining Engineer

Professional Mining Engineer formerly with Teck Resources Ltd.’s Quebrada Blanca mine

Experience covers large-scale gold projects including Williams (Ont.) underground mine

Rory Krocker Senior Project Geologist

Experienced exploration geologist , focused on Goliath for five years

Consulted as geologist for Caracle Creek International Consulting

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ROYALTIES

+ Gold producing royalty in Mexico: – Goldgroup – 3% NSR on Cerro Colorado mine

+ Generates annual cash flow of approx.

$800,000

+ Funds portion of TML corporate overhead

+ Goliath Gold Project royalty structure is very low and attractive for potential buyers

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TREASURY METALS – WHY INVEST?

+ Experienced team with proven track record

+ Project has attractive economics with an achievable CAPEX

+ RMB a further endorsement and provides financial flexibility to advance Goliath to a production decision stage:

– Analyzing other strategic investor /project finance

– Strong shareholder base and capital structure

– 6 placements completed since December 2010 plus Teck’s work

– Cash flowing royalty stream to fund G&A

+ Located right in Ontario with supportive nearby communities and stakeholders

+ Near-term production visibility with excellent infrastructure

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CONTACT INFO

Martin Walter

President and CEO

416.214.4654 martin@treasurymetals.com

Toronto Office: 416.214.4654 or 1.855.664.4654 (toll-free)

Dryden Office: 807.938.6961

www.treasurymetals.com

Greg Ferron

VP, Corp. Development

416.214.4654 greg@treasurymetals.com

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GOLIATH GOLD PROJECT : NI 43-101 RESOURCE ESTIMATE*

Resource Category

Block Cut-off Grade (g/tonne) Tonnes

Average Grade (g/tonne)

Contained AU (ounces)

Average Ag Grade (g/tonne)

Contained Ag (ounces)

Silver Equivalent Ounces of Au

Total Au Equivalent Ounces (Au+Ag)

Indicated

Surface 0.3 6,002,000 1.8 326,000 7.1 1,257,000 22,000 348,000

Underground 1.5 3,136,000 4.3 433,000 18.0 1,812,000 32,000 465,000

Total 9,140,000 2.6 760,000 10.4 3,070,000 54,000 810,000

Inferred

Surface 0.3 11,093,000 1.0 352,000 3.3 1,184,000 21,000 374,000

Underground 1.5 4,789,000 3.3 514,000 5.2 807,000 14,000 528,000

Total 15,900,000 1.7 870,000 3.9 1,990,000 35,000 900,000

* Independent NI 43-101 Resource Estimate completed by ACA Howe International on November 7, 2011

26 *Source: ACA Howe International Independent and Technical Report, November 2011