Trelawney Mining and Exploration Inc.
TSX VENTURE : TRR

Trelawney Mining and Exploration Inc.

May 17, 2010 08:00 ET

Trelawney Intersects 112.39 Metres of 1.65 g/t Gold On 100-Metre Step-Out at the Cote Lake Deposit

TORONTO, ONTARIO--(Marketwire - May 17, 2010) - Trelawney Mining and Exploration Inc. (the "Company") (TSX VENTURE:TRR) announces additional drill results from the Cote Lake Deposit discovered on the Chester Project located halfway between Timmins and Sudbury in northern Ontario. Highlights of the drilling program include:

  • Hole E10-12 – 107.94 metres of 0.90 g/t gold
  • Hole E10-13 – 112.39 metres of 1.65 g/t gold
  • Hole E10-14 – 65.00 metres of 1.62 g/t gold

The results being reported are from the Cote Lake Deposit located about 1 kilometre southwest and along strike of the former Young Shannon gold mine (Chester 2 Deposit). The holes are located on two different sections. The first two holes (E10-11 and E10-12) are overcuts on discovery section 93+00E and the second two holes (E10-13 and E10-14) are located on section 92+00E located 100 metres west of the discovery section. The spacing between drill holes on each section varies from 50 to 75 metres.

Results released to date from the three sections (92E to 94E), spaced 100 metres apart, have all confirmed similar wide zones of low grade gold +/- copper mineralization associated with brecciated intermediate to felsic intrusive rocks. The host breccia and adjacent wall rock contain disseminated sulfides which generally correlate to the gold values. Visible gold is commonly observed. The zones are bleached with the prevalent alteration being feldspathic and chloritic. Carbonate content in the breccia is quite limited (small rare veins). Structure associated with the gold mineralization is limited to brecciation with a lack of penetrative foliation. The mineralization and alteration envelope associated with this system remains open to the north at depth, to the south and along strike.

The final holes from the winter program are now in the final stages of processing with numerous samples in the lab. Results from these holes will be released as they become available. The spring/summer drill program has commenced with two rigs defining the extent of the Cote Lake deposit and a third rig exploring other targets on the 1,700 hectares (4,200 acre) Chester Property.

Greg Gibson, Trelawney's President and CEO commented, "We continue to be very encouraged by the results from the Cote Lake area. The additional four drill holes reported today have increased the mineralization envelope a minimum of 150 metres to the south on section 93E and 100 metres to the west to section 92E. With each drill hole we are growing more and more confident that Cote Lake will develop into a large tonnage, open pitable gold deposit. Together with our Chester 1 and 2 underground high grade projects Trelawney is on target to rapidly become a mid-tier gold producer. We will continue to aggressively explore and expand Cote Lake while moving our underground projects forward."

Cote Lake Deposit Results:
               
Hole From (m) To (m) Length (m) Gold (g/t) Copper (%) Au cut Grade Oz/t Gold
uncut cut to 50g/t* uncut
E10-11 103.33 104.32 0.99 2.28     0.07
  114.00 115.00 1.00 1.11     0.03
  124.00 185.18 61.18 0.66 0.02 0.66 0.02
               
  221.00 248.00 27.00 1.27   1.27 0.04
incl 227.00 232.00 5.00 5.41 0.05   0.16
               
E10-12 76.00 77.00 1.00 3.42     0.10
  101.06 209.00 107.94 0.90 0.07 0.90 0.03
               
E10-13 17.00 18.90 1.90 4.04     0.12
  99.01 211.40 112.39 1.65 0.02 1.65 0.05
incl 160.50 163.51 3.01 13.03   13.03 0.38
  281.00 299.00 18.00 1.08   1.08 0.03
               
E10-14 90.00 90.98 0.98 1.52     0.04
  99.00 164.00 65.00 1.62 0.02 1.62 0.05
incl 99.00 108.60 9.60 5.58   5.58 0.16
  179.00 180.00 1.00 6.89     0.20
  220.48 239.37 18.89 0.77   0.77 0.02
Notes:
  • True widths of intersections are unknown at this time
  • * No assays over 50 g/t gold have been reported
  • Intervals are graded with a lower cut of 0.40g/t with internal waste and low grade material within graded zones of up to 20 metres in length.

Sections of the drill holes for which assays are reported are attached herewith and posted on Trelawney's website (www.trelawneymining.com).

Trelawney Mining and Exploration has implemented a Quality-Control, Quality Assurance program to ensure best practice principals are being applied in the sampling and analysis of the drill core. Samples are crushed to -8 mesh then a 1,000 gram subset of each sample is pulverized to 90% passing -150 mesh. Assays have been completed using a standard fire assay with a 30 gram aliquot and an AA finish. For samples that return values of between two to five grams per tonne gold, another pulp is taken and fire assayed with a gravimetric finish. Samples returning values greater than five grams per tonne are re-analyzed by pulp metallic analysis. NQ size drill core is saw cut, and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security-sealed bags to the Accurassay prep lab in Sudbury, Ontario by Trelawney personnel. Accurassay is an ISO/IEC 17025 certified Laboratory by the Standards Council of Canada. In addition to quality assurance controls at the laboratory, blanks and certified standards have been inserted into the sample stream at random intervals.

David Beilhartz, Vice President, Exploration for Trelawney Mining and Exploration, a Qualified Person under NI 43-101, has prepared or supervised the scientific or technical information for the property and verified the data disclosed in this press release.

Trelawney is a Canadian junior mining and exploration company with a strategic focus on "Quality Ounce" gold deposits. The Company's current focus is directed towards the development and continued exploration of its newly acquired Chester Project, located in Chester Township 20 kilometres southwest of Gogama, Ontario.

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.

To view a map of "Cote Lake Deposit - Section Line 92+00", please visit the following link:

http://media3.marketwire.com/docs/tre_517_pic1.jpg

To view a map of "Cote Lake Deposit - Section Line 93+00", please visit the following link:

http://media3.marketwire.com/docs/tre_517_pic2.jpg

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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