Trelawney Mining and Exploration Inc.
TSX VENTURE : TRR

Trelawney Mining and Exploration Inc.

June 24, 2008 08:00 ET

Trelawney Announces Complete Drill Results and High Grade Gold Results up to 11.66 g/t Au on Surface in Wawa

TORONTO, ONTARIO--(Marketwire - June 24, 2008) - Trelawney Resources Inc. (TSX VENTURE:TRR) reports that full assay results have now been received from the winter drill program completed on the Mishibishu Lake Property (Murgor Option), located approximately 60 kilometres northwest of Wawa, Ontario. The drilling program consisted of 26 holes (MR-08-8 to MR-08-33), totalling 5,691 metres. Drilling was conducted to test several targets identified by soil sampling, prospecting, channel sampling and/or Induced Polarization surveys. As shown on a map which can be viewed on the Company's website at www.trelawneyresources.com, many of these target areas are located along strike to the east and to the northwest of the Dorset Zone.

Significant gold mineralization was intersected in the majority of holes; the most significant assay results include 5.23 g/t Au over 1.1 metres, 5.60 g/t Au over 0.5 metres, 3.40 g/t Au over 1.9 metres, 4.08 g/t Au over 2.3 metres. Complete assay results are summarized in the following table.



From To Grade Core Length
Hole (Metres) (Metres) (g/t Au) (metres)
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MR-08-8 (iii) Anomalous Values
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MR-08-9 (iii) 67.4 68.5 1.44 1.1
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MR-08-10 (iii) 33.8 34.5 1.41 0.7
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MR-08-11 (iii) 21.5 22.0 1.29 0.5
25.1 25.4 1.63 0.3
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MR-08-12 (iii) Anomalous Values
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MR-08-13 (iii) Anomalous Values
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MR-08-14 (iii) 5.2 20.0 0.46 14.8
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MR-08-15 (iii) 244.5 245.3 1.77 0.8
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MR-08-16 (iii) 63.7 66.0 4.08 2.3
77.2 78.1 2.75 0.9
99.4 100.4 1.42 1.0
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MR-08-17 Anomalous Values
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MR-08-18 192.8 193.9 0.77 1.1
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MR-08-19 13.0 14.9 3.40 1.9
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MR-08-20 51.4 52.4 1.20 1.0
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MR-08-21 42.1 43.2 1.05 1.1
194.3 195.4 0.78 1.1
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MR-08-22 58.3 59.4 1.84 1.1
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MR-08-23 20.8 22.3 0.71 1.5
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MR-08-24 2.4 10.8 0.29 8.4
18.0 19.2 0.80 1.2
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MR-08-25 156.7 157.8 5.23 1.1
180.0 180.8 1.08 0.8
186.6 187.7 2.24 1.1
198.5 199.0 5.60 0.5
201.0 203.9 1.12 2.9
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MR-08-26 32.4 33.5 1.82 1.1
57.3 58.8 0.77 1.5
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MR-08-27 29.2 29.9 1.96 0.7
101.5 110.0 0.56 8.5
102.6 103.7 0.91 1.1
105.9 107.0 1.08 1.1
165.3 166.2 2.74 0.9
183.1 183.4 3.09 0.3
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MR-08-28 138.6 139.4 0.86 0.8
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MR-08-29 80.1 80.7 1.27 0.6
270.6 271.2 1.45 0.6
325.7 326.6 1.64 0.9
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MR-08-30 267.2 267.7 3.35 0.5
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MR-08-31 Anomalous Values
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MR-08-32 Anomalous Values
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MR-08-33 49.6 50.3 1.04 0.7


- All results are core lengths not true widths.

- (ii) All split or sawn core samples were submitted to Accurassay Laboratories Ltd., Thunder Bay, Ontario, and / or Swastika Laboratories, Swastika, Ontario. All gold assaying was performed using a 30g standard fire assay with an AA and / or gravimetric finish.

- (iii) Previously released on April 23, 2008

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

"There appears to be a widespread pregnant gold system on Trelawney's land holdings in the Wawa gold camp as recent drilling has encountered gold mineralization hosted within altered metavolcanics, altered metasediments, and quartz carbonate veining. We are particularly encouraged with the degree and style of mineralization, alteration and deformation, as these are key geological elements which are present in virtually all world class Archean gold deposits."

Trelawney can earn up to a 75% interest in the 4,520 acre Mishibishu Lake property owned by Murgor Resources Inc. by spending $1.5 million on exploration (see press release dated April 19, 2006).

On the Dorset property, Trelawney has earned a 50% interest in the project, and a joint venture has now been formed with MetalCORP Limited. Trelawney is the manager of the Joint Venture and has presented an exploration program for 2008 which include mechanical stripping and approximately 2,500 meters of additional drilling, with an estimated budget of approximately $476,000. MetalCORP has decided not to participate in this phase of the program, and their interest in the project will be diluted below 50% pursuant to the standard dilution clauses contained within the agreement.

On the Dorset property, a limited mechanical stripping program was conducted late last year. Approximately 1,700m2 of stripping was conducted in the southeast area of the Dorset Zone. This stripping was conducted to expose the Dorset Zone mineralization which was intersected in holes MC-07-93 and MC-07-116. Washing, detailed mapping and channel sampling of the stripped area could not be completed last year due to early snowfall and freezing conditions. However, Dorset Zone mineralization was observed in certain areas, and a total of nine grab samples were collected at that time. Results of samples returned assay values ranging from 2.47 g/t Au to 11.66 g/t Au. Four additional surface samples were taken this spring on the stripped area and assay results include 0.86, 4.45, 6.77, and 8.13 g/t Au. This area will be a priority drill target for the upcoming drill program.

Trelawney recently commissioned a National Instrument 43-101 compliant resource estimate on the Dorset Zone and the results were reported in a press release dated October 31, 2007. 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). The complete report can be accessed on www.sedar.com.

Trelawney also owns a 100% interest in the 13,000 acre Mishi property which is contiguous to Wesdome's producing Eagle River Gold Mine, the Dorset property and the Mishibishu Lake property. The area is traversed by an all weather road and power line. A prospecting and sampling program is in currently in progress.

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: 88,652,688

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.

This press release contains forward looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward looking statements is subject to a number of risks including those described in the Company's information form as filed with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward looking statements.

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

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