Trelawney Mining and Exploration Inc.

Trelawney Mining and Exploration Inc.

February 18, 2009 12:44 ET

Trelawney Announces Debt Settlement

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2009) - Trelawney Resources Inc. (the "Company") (TSX VENTURE:TRR) announces that further to its press release dated January 6, 2009, it has agreed to settle an aggregate of $9,000 of indebtedness through the issuance an aggregate of 600,000 common shares ("Common Shares") of the Company at a price $0.015 per share, in consideration for services provided by certain consultants and officers of the Company.

In addition, the Company has agreed to settle rent payments outstanding in the amount of $12,812.10, through the issuance of 854,140 Common Shares to the lessor of the property at a price of $0.015 per share.

The issuance of the Common Shares is subject to the approval of the TSX Venture Exchange and the securities issued will be subject to a four month hold period.

Shares Issued: 89,752,688

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 annual information form as filed with the Canadian securities regulators which are available at 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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