Trelawney Mining and Exploration Inc.

Trelawney Mining and Exploration Inc.

October 31, 2007 08:00 ET

Trelawney Resources Inc.: New Gold Resource Estimate on Dorset

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2007) - Trelawney Resources Inc. (TSX VENTURE:TRR) reports that the first NI 43 - 101 compliant resource estimate has now been completed for the Dorset Zone, Mishi Project, located near Wawa Ontario. The initial estimate (using a 0.50 g Au/t cut-off) consists of an Indicated Resource of 40,000 ounces of gold (780,000 tonnes grading 1.42 g/t Au), and an Inferred Resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.19 g/t Au). Further details of this resource estimate, using cut-off grades ranging from 0.5 to 1.5 g/t Au is summarized in the following tables:

Dorset - Indicated Dorset - Inferred
Resource Resource
Tonnes Grade Tonnes Grade
Au greater greater Au greater greater
Cut- than than Cut- than than
off Cut-off Cut-off off Cut-off Cut-off
Au Ounces Au Ounces
(g/t) (tonnes) (g/t) Gold (g/t) (tonnes) (g/t) Gold
0.50 780,000 1.42 40,000 0.50 4,760,000 1.19 180,000
1.00 540,000 1.71 30,000 1.00 2,580,000 1.58 130,000
1.50 290,000 2.12 20,000 1.50 1,180,000 2.00 80,000

Notes to tables:

1. The indicated and inferred resources were estimated using Canadian Institute of Mining, Metallurgy and Petroleum, (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines.

2. Mineral Resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by several factors such as, but not limited to, environmental, legal, title, taxation, or other issues. Trelawney is not aware of any environmental, permitting, taxation, socio - political, marketing or other issues which may materially affect its estimate of mineral resources.

3. The Inferred Resources in this estimate are conceptual in nature and, it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resources as a result of continued exploration.

4. Mineralization may be classified as an Indicated Mineral Resource by the Qualified Person when the nature, quality, quantity and distribution of data are such as to allow confident interpretation of the geological framework and to reasonably assume the continuity of mineralization. An Indicated Mineral Resource estimate is of sufficient quality to support a Preliminary Feasibility Study which can serve as the basis for major development decisions.

5. The resource estimate is derived from two zones, A and B -- Zone B is considered to be the faulted or folded east extension of Zone A.

6. No metallurgical work or testing for mineral processing, including milling, and recoveries were performed.

The independent Mineral Resources for the Dorset Zone were estimated by Giroux Consultants Ltd. Mr. Gary Giroux, P.Eng. is the Qualified Person under National Instrument 43-101 responsible for the estimate. A Technical Report is being prepared by OreQuest Consultants Ltd. and will be filed within 45 days on SEDAR and may be accessed at

Wayne O'Connor, President and CEO of Trelawney states that:

"We are very pleased with the results of the resource estimate. This is the first time ever that a resource has been estimated on the Dorset Zone, and we were able to accomplish this in a very quick time frame. We only commenced drilling in August of 2006, and to date, Trelawney has only drilled 92 holes. In mineral exploration, it is rare for exploration companies to convert mineralized occurrences into a resource or deposit with actual contained ounces of gold. For a junior exploration Company, a resource calculation is always a significant step forward, providing a fundamental asset base for the Company. And this is just the beginning. With the price of gold testing new all time highs, our aim is to expand on this resource estimate, and to explore other areas of our vast land holdings in the Wawa area. Trelawney continues to be one of the most active exploration companies searching for gold in the Wawa area."

Trelawney is the largest land holder in the entire Wawa/Hemlo mining camp with approximately 21,000 acres now under its control. The Company's neighbour, gold producer Wesdome Gold Mines Ltd. holds approximately 16,000 acres. Trelawney has assembled the largest land package in this area since the Hemlo staking rush in the 1980s. The consolidated property contains over 48 known gold occurrences attesting to the potential of the Mishibishu greenstone belt.

Trelawney is earning 50% interest in the Dorset property from MetalCORP Limited by spending $2 million on exploration; making cash and stock payments totalling $220,000 and issuing 900,000 shares over five years. Trelawney can earn a further 20% interest by completing a feasibility study and paying $100,000 cash and issuing 500,000 shares. On completion of Trelawney's option, a joint venture will be formed on either a 50-50 or 70-30 basis respectively.

Robert Duess, P. Geo. is a "Qualified Person" as defined in National Instrument 43-101 and is responsible for the technical information presented in this news release.

Shares Issued: 73,480,188

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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