Trelawney Announces Initial Mineral Resource Estimate of 4.2 Million Ounces for the Cote Lake Gold Deposit
Published : March 07, 2011

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TORONTO, ONTARIO--(Marketwire - March 7, 2011) - Trelawney Mining and Exploration Inc. (the "Company" or "Trelawney") (News - Market indicators)(FRANKFURT:RTW) announces the results of the initial Mineral Resource estimate for the Cote Lake Deposit on the Chester Project located halfway between Timmins and Sudbury in Northern Ontario. The Mineral Resource estimate has been audited by Roscoe Postle Associates Inc. ("RPA") and reported in accordance with National Instrument 43-101 requirements.

Roscoe Postle Associates Inc. has audited the Mineral Resource estimate for the Cote Lake Deposit prepared by Trelawney's Consulting Geologist Jamie Lavigne, P.Geo. The estimate is all classified as Inferred Mineral Resource and totals 131 million tonnes averaging 1.00 g/t Au for 4.22 million ounces of contained gold at a cut-off grade of 0.30 g/t Au. Table 1 shows the Mineral Resource at the 0.30 g/t cut-off grade and at several higher cut-off grades for comparison. The effective date of this Mineral Resource estimate is March 4, 2011.

TABLE 1 - MINERAL RESOURCE ESTIMATE - MARCH 4, 2011
Trelawney Mining and Exploration Inc. – Cote Lake Deposit
 
Classification Cut-off Grade
g/t Au
Tonnes
Millions
Grade
g/t Au
Contained Au
Millions of oz
Inferred 0.30 131 1.00 4.22
Inferred 0.35 122 1.06 4.12
Inferred 0.40 113 1.10 4.02
Inferred 0.50 100 1.21 3.88
Notes:  
   
1. CIM Definition Standards were followed for Mineral Resources.
2. Mineral Resources are estimated at a pit discard cut-off grade of 0.30 g/t Au.
3. Mineral Resources are estimated using a gold price of US$1,200 per ounce and metallurgical recovery of 95%.
4. Highgrade assays are capped at 25 g/t Au.
5. Bulk density of 2.7 t/m3 was used.
6. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

In order to comply with the CIM Definition Standards requirement of "reasonable prospects for economic extraction", RPA prepared a preliminary Whittle pit shell to constrain the Mineral Resource estimate using a gold price of US$1,200 and other assumed pit parameters. The Mineral Resource extends to a depth of approximately 550 metres below surface. Only mineralization located within the shell has been reported in the Mineral Resource. 

The Cote Lake Mineral Resource estimate is based on the results of 47 Diamond core holes totaling 23,500 metres drilled from December 2009 to December 31, 2010. Assays reported from these drill holes up to the February 8, 2011 press release are used in the Mineral Resource estimate. The drill hole assays are capped at 25 g/t Au prior to compositing into 2 m lengths. Three dimensional wireframes were generated using geological information and a minimum grade of approximately 0.30 g/t Au. An inverse distance squared algorithm was used to interpolate gold grades into 10 m by 10 m by 10 m blocks.

Significant additional exploration potential exists within the pit shell of the current resource. These areas were inaccessible over the summer months due to the swampy nature of the terrain in that area. The resource is also open both along strike and to depth from the existing resource model, and will be the focus of the ongoing exploration program this spring. Recently completed geophysics has identified an induced polarization (IP) response that correlates well with the current resource and extends for several hundred metres along strike of the known zone.

Greg Gibson, Trelawney's President and CEO commented, "We are extremely pleased to have identified such a large initial resource on the Cote Lake Deposit from the results of only 12 months of drilling. We look forward to reporting on the current winter drill program and the continuing exploration efforts to define the limits of the deposit."

The expansion and exploration drill program on the Cote Lake Deposit is ongoing with five drill rigs. A sixth exploration drill rig is currently exploring other targets on the 4,200 acre property. The majority of the winter drilling has been completed on the wetlands southwest of the known mineralization that is inaccessible during the summer.

The Trelawney Mineral Resource estimate for the Cote Lake Deposit has been audited and accepted by William E. Roscoe, P.Eng., Principal Geologist with RPA, an independent qualified person under NI 43-101, who has also reviewed and approved the contents of this release. The NI 43-101 Technical Report on the Mineral Resource Estimate for the Cote Lake Deposit will be filed on SEDAR within 45 days of this press release. 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 focus on Archean gold deposits. The Company's current focus is directed towards the development and continued exploration of the 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.

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.

For more information, please contact

Trelawney Mining and Exploration Inc.
Greg Gibson
President and CEO
416-363-8567
ggibson@trelawneymining.com

Trelawney Resources Inc.

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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
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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
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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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