Vinyl LP pressing. Treasure is the third studio album by Scottish rock band Cocteau Twins. It was originally released on 1 November 1984 by 4AD. With this album, the band settled on what would, from then on, be their primary lineup: vocalist Elizabeth Fraser, guitarist Robin Guthrie and bass guitarist Simon Raymonde. This new lineup also coincided with the development of the ethereal sound associated with the band's music.