Trelawney Mining and Exploration Inc.
TSX VENTURE : TRR

Trelawney Mining and Exploration Inc.

November 30, 2009 08:00 ET

Trelawney Receives Regulatory Approval for Young-Shannon Property Acquisition

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2009) - Trelawney Mining and Exploration Inc. (the "Company") (TSX VENTURE:TRR) is pleased to announce that its acquisition of a 92.5% interest in the Young-Shannon Property, Chester Township, Ontario (the "Property") from Metallum Resources Inc. has received regulatory approval.

As reported in a news release of August 24, 2009, in exchange for 5,000,000 common shares of Trelawney and a 1% net smelter return on the Property payable when the monthly average gold price exceeds USD$1,000 per ounce, Trelawney has acquired a 92.5% interest in the Property which comprises 11 patented and 18 unpatented mining claims. The 5,000,000 common shares that have been issued are subject to a four month hold.

Young-Shannon Property

A qualifying technical report on the Property prepared in 1990 identified an indicated mineral resource of 220,000 tons (grading 0.354 oz/ton gold on the C Zone and an inferred mineral resource of 725,000 tons grading 0.16 oz/ton gold on the C-Prime Zone (NI 43-101 non-compliant). The C and C-Prime Zones consist of multiple stacked quartz veins related to east-west and northwest-trending regional shear structures. The veins range from less than a foot to more than 10 feet wide. The C and C-Prime Zones remain open at depth. A down hole IP survey in 2005 undertaken on the property defined two parallel high conductivity zones (anomalies) about 260 feet (80 metres) apart occurring down-dip and parallel to the C Zone. The C and C-Prime Zones are located approximately 1.5 kilometres to the west of Trelawney's existing ramp, which was developed to the 500-foot level, and which will be used for access to resources on the Property.

The historical resource estimates presented above were completed prior to the implementation of the NI 43-101 requirements, however given the quality of the historic work completed and the reputation of Metallum Resources Inc. (formerly Young Shannon Gold Mines), Trelawney believes the resource estimates to be both relevant and reliable. In addition, a qualified person has not completed sufficient work to classify these historic mineral resources as current mineral resources and the Company is not treating the historic resources as current. Hence, the historical estimates should not be relied upon. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by Mitchell Lavery, P. Geo. for the Company, a qualified person under 43-101 guidelines.

Shares Issued: 44,647,591

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information