[6] Record label executive Ivo Watts-Russell originally tried to hire Brian Eno and Daniel Lanois to produce the album.

[7] Pitchfork noted that the album's drum machine backing added a sharp edge in contrast to the band's ethereal sound and Elizabeth Fraser's "angelic vocals".

[8] Raymonde alluded to Treasure being rushed and unfinished, while Guthrie referred to it as "an abortion",[9] "our worst album by a mile",[7] and to the period in which it was made as "arty-farty pre-Raphaelite".

The songs are airier, almost swinging, with more delicate acoustic guitar than the familiar electric razzle" and noting Elizabeth Fraser's vocals that "soars, weaves or whispers through the instrumental mix (,,,) to build beguiling, impressionist pieces based on vaguely Victorian names.

Treasure was an adjective for the endlessly inventive melodic lines you'd find buried in these songs, and a verb for what you'd do with them for years to come", and noted that the record signalled the start of Cocteau Twins' "signature ethereality".

[29] PopMatters included it in their list of the "12 Essential 1980s Alternative Rock Albums" saying, "Fraser's ability to deliver her nonsensical lyrics with the diaphanous touch of a moth or with the muscle of a ravenous lion is astonishing".

[32] All tracks are written by Cocteau Twins (Elizabeth Fraser, Robin Guthrie and Simon Raymonde)Initial pressings of the Canadian LP release included the "Aikea-Guinea" 12" single as a bonus.