Trelawney Mining and Exploration Inc.
TSX VENTURE : TRR
FRANKFURT : RTW

Trelawney Mining and Exploration Inc.

May 31, 2011 09:26 ET

Trelawney Completes Previously Announced Offering

TORONTO, ONTARIO--(Marketwire - May 31, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Trelawney Mining and Exploration Inc. ("Trelawney" or the "Company") (TSX VENTURE:TRR)(FRANKFURT:RTW) is pleased to announce that it has closed its previously announced bought deal public offering, pursuant to which the Company sold an aggregate of 14,375,000 common shares (the "Common Shares") at a price of CDN$4.00 per Common Share, for aggregate gross proceeds of CDN$57.5 million (the "Offering"), to a syndicate of investment dealers led by RBC Capital Markets Inc. and including Jennings Capital Inc., BMO Capital Markets and Stifel Nicolaus Canada Inc. (the "Underwriters"). The 14,375,000 Common Shares sold include 1,875,000 Common Shares sold pursuant to the exercise of an over-allotment option granted to the Underwriters, which was exercised in full.

The Underwriters will be paid an aggregate cash fee of $2,875,000, representing 5% of the gross proceeds of the Offering.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction in which such offer, sale or solicitation would be unlawful.

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.

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