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Trelawney Resources Inc.

Published : May 10th, 2011

Announces $50.0 Million Bought Deal Public Offerin

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Trelawney Announces $50.0 Million Bought Deal Public Offering of Common Shares

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



May 10, 2011 - Toronto, Ontario - Trelawney Mining and Exploration Inc. (�Trelawney� or the �Company�) (TSXV: TRR, Frankfurt: RTW) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by RBC Capital Markets (the "Underwriters"), under which the Underwriters have agreed to purchase on a "bought deal" basis pursuant to a short form prospectus, 12,500,000 common shares of the Company at a price of CDN$4.00 per common share (the "Offering Price") for aggregate gross proceeds of CDN$50.0 million (the "Offering").  The Company has granted the underwriters an over-allotment option to purchase up to an additional 15% of the Offering at the Offering Price, exercisable in whole or in part, at any time prior to the 30th day following the Closing Date.

Net proceeds of the offering will be used to advance development of the Company's Cote Lake project and for general corporate purposes.

The Offering is scheduled to close on or about May 31, 2011 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

Under the terms of the agreement, the Company is required to file a preliminary short-form prospectus and obtain a receipt from the securities regulatory authorities in all provinces of Canada, except Quebec, by May 16, 2011. 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 registrations 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.

Copies of the preliminary prospectus may be obtained from RBC Capital Markets, Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5H 2X4 (tel: 416-842-5349).

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.

For further information contact:

Greg Gibson, President and CEO
416-363-8567 or
ggibson@trelawneymining.com

- or-

Andres Tinajero, CFO
416-363-8567 or
atinajero@trelawneymining.com

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.

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.


 

New Address
Trelawney Mining and Exploration Inc.
130 King Street West, Suite 2810
Toronto Ontario Canada
M5X 1A6

Tel: 416-363-8567
Email:
info@trelawneymining.com
Web:
www.trelawneymining.com

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Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Trelawney Resources Inc.

DEVELOPMENT STAGE
CODE : TRR.V
CUSIP : 988914 10 7
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Trelawney is a gold exploration company based in Canada.

Its main asset in development is CHESTER ONE in Canada and its main exploration properties are MASSEY, MISHI, DORSET PROJECT and COTE LAKE in Canada.

Trelawney is listed in Canada and in United States of America. Its market capitalisation is CA$ 583.5 millions as of today (US$ 568.8 millions, € 452.6 millions).

Its stock quote reached its lowest recent point on April 09, 2009 at CA$ 0.01, and its highest recent level on July 15, 2011 at CA$ 5.91.

Trelawney has 177 366 000 shares outstanding.

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Financings of Trelawney Resources Inc.
5/17/2011Announces Filing of Preliminary Prospectus
5/10/2011Announces $50.0 Million Bought Deal Public Offerin
Nominations of Trelawney Resources Inc.
2/7/2012Announces Appointment of V.P. Environmental & Sust
7/4/2011Announces Appointment of Officers and Grant of Sto
Project news of Trelawney Resources Inc.
6/12/2012Intersects 316.00 Metres of 1.38 G/T Gold and 312.
5/15/2012Intersects 155.00 Metres Of 1.31 g/t Gold And 115.
4/10/2012Files NI 43-101 Technical Report and Resource Esti
3/5/2012Intersects 212.00 Metres of 2.09 g/t Gold from Inf
2/25/2012Announces Updated Resource of 5.9 Million Ounces I
2/14/2012Intersects 165.00 Metres of 1.20 g/t Gold at C=C3=B4t=C3=A9
12/6/2011intersects 583.00 metres of 0.77 g/t gold at C=C3=B4t=C3=A9
10/15/2011Commences Compulsory Acquisition of Augen Gold Cor
9/19/2011Intersects 93.00 Metres of 1.68 g/t Gold from Cont
9/10/2011Completes Acquisition of 21.6% Interest in Claim 2
8/29/2011Intersects 356.00 Metres of 1.35 g/t Gold from Con
8/26/2011MINING AND EXPLORATION INC. AND AUGEN GOLD CORP.
7/27/2011Uncovers New Exposure of C=C3=B4t=C3=A9 Lake Mineralization
6/20/2011Intersects 337.00 Metres of 0.94 g/t Gold at C=C3=B4t=C3=A9
5/30/2011(Chester One)Intersects 170.20 Metres of 1.01 g/t Gold Extends
4/4/2011Trelawney Intersects 304.00 Metres of 1.65 g/t Gold in 200=E...
3/7/2011(Cote Lake)Announces Initial Mineral Resource Estimate of 4.2 Million O...
2/26/2011Trelawney Announces Acquisition of Chester Mining Claims and
2/25/2011(Chester One)Announces Acquisition of Chester Mining Claims and Geologica...
2/14/2011(Cote Lake)Preliminary Metallurgical Testwork Yields Excellent Results ...
2/8/2011(Chester One)Intersects 243.10 Metres of 1.31 g/t Gold at the C
1/25/2011(Dorset Project)Intersects 95.40 Metres of 1.85 g/t Gold at the Co
Corporate news of Trelawney Resources Inc.
6/6/2012ISS And Glass Lewis Recommend That Trelawney Shareholders
3/29/2012Enters into Restated Amending Agreement on the Che
3/1/2012Trelawney Enters into Option Agreement with Falcon Gold to A
1/10/2012President Greg Gibson presenting at Dahlman Rose C
11/28/2011Completes Previously Announced Offering
11/24/2011at 2011 San Francisco Hard Assets Investment Confe
9/23/2011announces expiry of bid and additional tender of A
9/13/2011Announces that 87% of Augen Gold Corp. Shares have
8/11/2011provides update on offer for Augen Gold Corp.
8/9/2011Secures Additional Lock-up Agreements; 57% of Auge
7/28/2011Mails Offer Circular and Letter to Shareholders
7/11/2011Announces Intention to Make an Offer to Acquire Augen Gold C...
4/1/2011recognized as a TSX Venture 50 company
12/1/2010Provides Chester Project Exploration Update
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TSX-V (TRR.V)
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