Public Notice
Goliath Gold Project – Public Comments Invited

January 18, 2013

As part of the strengthened and modernized Canadian Environmental Assessment Act, 2012 (CEAA 2012) put in place to support the government's Responsible Resource Development Initiative, the Canadian Environmental Assessment Agency commenced a federal environmental assessment for the proposed Goliath Gold Project located in Ontario on January 18, 2013. The Agency invites the public to comment on which aspects of the environment may be affected by this project and what should be examined during the environmental assessment.

The public can review and comment on the draft Environmental Impact Statement (EIS) Guidelines, a document that identifies the potential environmental effects to be taken into consideration and the information and analysis that needs to be included in the proponent's EIS.

Treasury Metals Limited is proposing the development, construction, operation and closure of an open-pit and underground gold mine and associated infrastructure. The proposed mine site, located 20 km east of the city of Dryden, would process 2,500 tonnes per day of gold for an anticipated mine life of approximately 10 to 12 years. The proponent owns its property, and is proximate to infrastructure (electricity, natural gas, and highways). Ore would be processed onsite to produce a final dore bar that would be shipped off-site for further refining and upgrading.

Written comments must be submitted by February 17, 2013 to:

Canadian Environmental Assessment Agency
55 St. Clair Avenue East, Suite 907
Toronto ON M4T 1M2
Telephone: 416-952-1576
Fax: 416-952-1573
Goliath@ceaa-acee.gc.ca

To view the draft EIS Guidelines or for more information, visit the Agency's website (registry reference number 80019). All comments received will be considered public.

Copies of the draft EIS Guidelines are also available for viewing at the following locations:

• Dryden Public Library
  36 Van Horne Avenue
  Dryden ON
• Sioux Lookout Public Library
  21 Fifth Avenue
  Sioux Lookout ON

Consistent with the transparency and public engagement elements of CEAA 2012, this is the second of four opportunities for Canadians to comment on this project. Following this comment period, the Agency will finalize and issue the EIS Guidelines to the proponent. An application period for participant funding and a future public comment period related to the EIS will be announced later.

Projects subject to CEAA 2012 are assessed using a science-based approach. If the project is permitted to proceed to the next phase, it will continue to be subject to Canada's strong environmental laws, rigorous enforcement and follow-up and increased fines.