Terms of Use

Legal Notice

The website is owned and operated by Treasury Metals Inc. Where we say “we”, “us”, “our”, the “Company” or “Treasury”, we mean Treasury Metals Inc. and/or one or more of its affiliates, as may be applicable. By using the Website, you agree to the following terms and conditions. 

Website Protected by Copyright 

Certain material found on the Website is protected by copyright. Certain names, graphics, logos, icons, designs, words titles or phrases on the Website may constitute trade names, trademarks or service marks of Treasury Metals or other entities. Trademarks may be registered in Canada and in other countries, as applicable. The display of trademarks on pages at the Website does not imply that a licence of any kind has been granted. 

Other materials on the Website not originally produced by us (some audio, video, trademarks, et al) are copyrighted by their respective creators/owners and appear here either by permission, example or as public domain reference material. 

Currency of Website

Treasury Metals updates the information on the Website regularly. However, such information is not intended to be a comprehensive review of all matters and developments concerning Treasury Metals and we cannot guarantee the accuracy, currency or completeness of the information at all times and assumes no responsibility in this regard. 

Cautionay Statements

Cautionary Note Regarding Forward-Looking Information

Certain Disclosure on this Website contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable Canadian and United States securities legislation. Forward-looking information is presented on the expectations, estimates and projections as of the date such information is presented on the Website or as of the date of the document posted on the Website, as applicable. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “schedules”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). All of the forward-looking information on the Website is qualified by this cautionary note. 

Forward-looking information includes, but is 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. 

Non-IFRS Measures

Certain materials found on this website we use the terms “cash operating cost”, “All-In Sustaining Cost” or “AISC”, “free cash flow” and “earnings before interest, taxes, depreciation and amortization” or “EBITDA”. These should be considered non-IFRS financial measures as defined in applicable Canadian securities laws and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Cash Costs and Cash Costs Per Ounce - Cash Costs are reflective of the cost of production. Cash Cost reported in the PFS include mining costs, processing & water treatment costs, general and administrative costs of the mine, off-site costs, refining costs, transportation costs and royalties. Cash Costs per Ounce is calculated as Cash Costs divided by payable gold ounces.

All-in Sustaining Costs and All-in Sustaining Cost Per Ounce - AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PFS includes cash costs, sustaining capital, expansion capital and closure costs, but excludes corporate general and administrative costs and salvage. AISC per Ounce is calculated as AISC divided by payable gold ounces.

Free Cash Flow - FCF deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow is intended to provide additional information only and does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. Other companies may calculate this measure differently.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) - EBITDA excludes from net earnings, income tax expense, financing costs, finance income and depreciation. Management believes that EBITDA is a valuable indicator of our ability to generate income by producing operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. Management uses EBITDA for this purpose.

Cautionary Note to US Investors

Certain Disclosure on this Website was prepared in accordance with Canadian standards, which differ in some respects from United States standards. In particular, and without limiting the generality of the foregoing, the terms “inferred mineral resources”, “indicated mineral resources”, “measured mineral resources” and “mineral resources” that may be used or referenced in this Website are Canadian mining terms as defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves (the “CIM Standards”). The CIM Standards differ significantly from standards in the United States. While the terms “mineral resource”, “measured mineral resources”, “indicated mineral resources”, and “inferred mineral resources” are recognized and required by Canadian regulations, they are not defined terms under standards in the United States. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into reserves. Readers are also cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, United States companies are only permitted to report mineralization that does not constitute “reserves” by standards in the United States as in place tonnage and grade without reference to unit measures. Accordingly, information regarding resources contained or referenced in this Website containing descriptions of our mineral deposits may not be comparable to similar information made public by United States companies. 

Exclusion of Liability

In using the Website, you agree that Treasury Metals Inc. shall not be liable for any claims, expenses, damages (including direct, indirect, incidental, special, punitive, or consequential damages), loss of profits, opportunities or information arising from (a) your use of or reliance on information contained on the Website; (b) any inaccuracy or omission in such information or failure to keep the information current; (c) use of any third-party websites linked or referred to on the Website; (d) any delays, inaccuracies or errors in, or in the transmission of, any stock price quotes or historical price data; (e) any Internet software used in connection with the Website or computer viruses or other destructive programs encountered as a result of using the Website; and (f) any other matter connected with the Website, even if Treasury Metals Inc. is made aware of the possibility of such claims, expenses, damages or losses. 

Treasury Metals Not Responsible for Internet Software or Computer Viruses

Due to technical difficulties inherent in the Internet, Internet software or transmission, problems could produce inaccurate or incomplete copies of information contained on the Website. Computer viruses or other destructive programs may also be inadvertently downloaded from the Website. Treasury Metals shall not be liable for Internet software, computer viruses or destructive programs and recommends that you install appropriate anti-virus or other protective software. 

Treasury Metals Not Responsible for Linked Websites

The Website contains links to sites that Treasury Metals does not maintain. Treasury Metals assumes no responsibility for the contents of third-party sites accessed through links on the Website. Access to such third-party sites is provided for your convenience only. Treasury Metals does not monitor or endorse such third-party sites. 

Website is Provided as a Service Only

The Website is not to be construed as a form of promotion, an offer to sell securities or as a solicitation or offering of securities in any jurisdiction and the information contained herein in no way should be construed or interpreted as such. The Website has been produced as a source of general information only. No securities commission or other regulatory authority in Canada or any other country or jurisdiction has in any way passed upon this information and no representation or warranty is made by Treasury Metals to that effect. The information on the Website is not intended to modify, qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to Treasury Metals and should not be used for the purpose of making investment decisions concerning Treasury Metals securities. Treasury Metals’ public filings can be viewed on SEDAR at or copies may be obtained from Treasury Metals’ Investor Relations Department. 

Stock Quotes

All quotes are delayed at least 20 minutes unless otherwise stated. All stock quotes and historical stock price data are provided by third-party service providers and are provided for informational purposes only and are not intended for trading purposes. If you are contemplating trading in securities of Treasury Metals, we strongly advise you to seek independent professional advice before making any investment decision. Treasury Metals makes no representation or warranty regarding the accuracy or completeness of any such stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, accuracy or completeness of the information provided herein. 


The laws of the Province of Ontario and any applicable federal laws of Canada will govern this Legal Notice and your use of the Website. The courts of the Province of Ontario will have exclusive jurisdiction over any dispute arising out of your use of the Website. 

Last updated: September 14, 2021