Treasury Metals Inc. welcomes Margot Naudie and Paul McRae as independent members of the Board of Directors (the "Board"), bringing extensive knowledge and experience to complement the capabilities of the Board; Ms. Naudie has more than 25 years of capital markets experience with expertise as a Senior Portfolio Manager for North American and global natural resource portfolios. She has held senior roles at leading asset management firms including TD Asset Management, Marret Asset Management Inc. and CPP Investment Board. She was cited as a Brendan Wood TopGun Investment Mind (Platinum) for five consecutive years.

Margot is an active and engaged independent Director on public and private company boards. She has a Bachelor of Arts in Politics and Economics from McGill University, an MBA from the Richard Ivey School of Business, and is a Chartered Financial Analyst (CFA) Charterholder. Mr. McRae is a corporate director with a distinguished reputation in project and construction management in the mining industry for projects of all scales and complexities.

His career spans more than 40 years and includes a track record of on time and on budget projects. Mr. McRae served as Project Manager on the highly successful De Beers Victor Project in Northern Canada, and he has held leadership roles with numerous other projects from concept, construction and into operation in Australia, Canada, USA, Spain, Chile and Portugal. Prior to retirement he served as Senior Vice-President Projects of Lundin Mining from 2012 to 2018 during which time he led the Eagle Mine in Michigan into production.

Mr. McRae has served on the board of Southern Hemisphere Mining, Bluestone Resources and Filo Mining. He recently stepped down as a director of Lundin Gold where he chaired the Board Technical Committee for the last 7 years. Mr. McRae is currently a director of Westhaven Gold.

As a part of the Company's Board Renewal process initiated last year, Marc Henderson and Daniel Wilton did not stand for re-election to the Board at the Meeting. The Board thanks Mr. Henderson and Mr. Wilton for their valuable contributions to Treasury Metals over the years. The Board announced that David Whittle, an independent member of the Board since August 2020, has been appointed Chair of the Board effective June 28, 2022, replacing William Fisher.

Mr. Fisher will remain with Treasury Metals as a Director.