Trelawney Resources Inc.

Published : May 15th, 2012

Intersects 155.00 Metres Of 1.31 g/t Gold And 115.

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Trelawney Mining and Exploration Inc. SnapMail

FOR IMMEDIATE RELEASE
 

Trelawney Intersects 155.00 Metres Of 1.31 g/t Gold And 115.90 Metres Of 1.48 G/T Gold From Infill Drilling At C�t� Lake


May 15, 2012 - Toronto, Ontario - Trelawney Mining and Exploration Inc. (the �Company� or �Trelawney�) (TSXV: TRR, Frankfurt: RTW) announces the results from 26 additional holes drilled on the C�t� Lake Deposit on the Chester Project located halfway between Timmins and Sudbury in Northern Ontario. � The results are from the ongoing infill and expansion drilling on the C�t� Lake Deposit. � Drilling continues to intersect significant widths of low to moderate grade gold mineralization from the infill drilling at the C�t� Lake Deposit.

The C�t� Lake Deposit currently hosts an indicated resource of 35 million tonnes averaging 0.82 g/t for contained gold of 0.93 million ounces and an inferred resource of 204 million tonnes averaging 0.91 g/t for 5.94 million ounces of contained gold. A cut-off grade of 0.3 g/t Au was used for the estimate as reported in Trelawney�s press release dated February 24, 2012. � To date, mineralization of the C�t� Lake Deposit has been intersected over a strike-length of 1,200 metres and remains open in several directions along strike and at depth. The C�t� Lake Deposit consists of low to moderate grade gold +/- copper mineralization which is associated with brecciated intermediate to felsic, and locally mafic intrusive rocks.�  The nature of the alteration, style of mineralization and age-dating all indicate the deposit is an Archean porphyry system.

The Company continues to explore its considerable land holdings in the Swayze greenstone belt. � The current drill program on the C�t� Lake Deposit consists of eleven drill rigs, five focusing on expansion drilling and six drills on infill drilling. An additional drill rig is conducting regional exploration and condemnation drilling.

Greg Gibson, Trelawney's President and CEO commented, �We are very pleased that the ongoing infill drilling continues to confirm the significant widths and grades of mineralization similar to our original wider-spaced drilling.�

C�t� Lake Deposit Drilling Results

Section

Hole

From
(m)

To
(m)

Length
(m)

Gold
(g/t)
uncut

Au cut Grade
cut to 25g/t*

Gold (oz/t)
uncut

Comments

94+50E

E11-149

108.00

133.00

25.00

1.25

 

0.04

infill

 

 

162.00

172.00

10.00

0.92

 

0.03

 

 

 

182.00

195.00

13.00

0.87

 

0.03

 

 

 

205.00

219.00

14.00

0.53

 

0.02

 

 

 

240.00

242.00

2.00

1.80

 

0.05

 

 

 

255.00

256.00

1.00

11.88

 

0.35

 

 

 

351.00

355.00

4.00

0.98

 

0.03

 

 

 

 

 

 

 

 

 

 

94+50E

E11-150

16.00

54.00

38.00

0.83

 

0.02

infill

 

 

135.00

137.00

2.00

4.83

 

0.14

 

 

 

170.00

171.00

1.00

6.63

 

0.19

 

94+50E

E11-150

186.00

203.00

17.00

0.54

 

0.02

 

…(cont)

…(cont)

246.10

249.65

3.55

1.22

 

0.04

 

 

 

281.00

367.00

86.00

0.53

 

0.02

 

 

 

405.00

433.00

28.00

1.00

 

0.03

 

 

 

490.00

580.50

90.50

0.63

 

0.02

 

 

incl

528.25

569.85

41.60

0.91

 

0.03

 

 

 

662.00

802.00

140.00

0.73

 

0.02

 

 

incl

687.00

749.00

62.00

1.10

 

0.03

 

 

 

838.00

903.00

65.00

0.57

 

0.02

 

 

 

895.00

903.00

8.00

1.49

 

0.04

 

 

 

 

 

 

 

 

 

 

83+00E

E11-151

8.00

45.00

37.00

0.55

 

0.02

outside resource

 

 

54.00

55.00

1.00

1.03

 

0.03

 

 

 

74.00

80.00

6.00

0.70

 

0.02

 

 

 

134.00

135.00

1.00

1.43

 

0.04

 

 

 

149.00

150.00

1.00

1.02

 

0.03

 

 

 

188.00

196.00

8.00

0.71

 

0.02

 

 

 

 

 

 

 

 

 

 

89+00E

E11-152

57.00

58.00

1.00

1.29

 

0.04

abandoned
at 96m

 

 

88.00

96.00

8.00

0.76

 

0.02

 

 

 

 

 

 

 

 

 

94+00E

E11-153

8.00

50.00

42.00

0.70

 

0.02

outside resource

 

 

77.00

78.00

1.00

4.17

 

0.12

 

 

 

126.00

127.00

1.00

1.14

 

0.03

 

 

 

135.00

136.00

1.00

1.18

 

0.03

 

 

 

278.00

279.00

1.00

1.73

 

0.05

 

 

 

331.00

332.00

1.00

6.08

 

0.18

 

 

 

382.00

383.00

1.00

47.25

25.00

1.38

 

 

 

486.00

487.00

1.00

1.81

 

0.05

 

 

 

512.00

513.00

1.00

2.15

 

0.06

 

 

 

547.00

548.00

1.00

1.01

 

0.03

 

 

 

 

 

 

 

 

 

 

89+00

E11-154

75.00

76.00

1.00

17.98

 

0.52

� outside resource

 

 

113.00

131.00

18.00

0.49

 

0.01

 

 

137.00

141.00

4.00

1.19

 

0.03

 

 

 

170.00

176.00

6.00

1.37

 

0.04

 

 

 

187.00

190.00

3.00

0.93

 

0.03

 

 

 

205.00

210.00

5.00

1.21

 

0.04

 

 

 

 

 

 

 

 

 

 

88+50E

E11-155

60.00

66.00

6.00

0.79

 

0.02

infill

 

 

86.00

87.00

1.00

111.41

25.00

3.25

 

 

 

87.00

90.00

3.00

0.62

 

0.02

 

 

 

100.00

122.00

22.00

0.42

 

0.01

 

 

 

190.00

317.00

127.00

0.51

 

0.01

 

89+00

E11-156

9.00

15.00

6.00

2.10

 

0.06

outside resource

 

 

25.00

27.00

2.00

0.88

 

0.03

 

 

 

38.00

46.00

8.00

0.72

 

0.02

 

 

 

96.00

98.00

2.00

3.22

 

0.09

 

 

 

105.00

125.00

20.00

0.57

 

0.02

 

 

 

348.00

349.00

1.00

1.81

 

0.05

 

 

 

 

 

 

 

 

 

 

94+50E

E11-157

28.00

64.00

36.00

0.31

 

0.01

infill
incl 48m of diabase

 

 

112.00

740.01

628.01

0.61

0.61

0.02

 

incl

156.00

516.00

360.00

0.84

0.84

0.02

 

 

and incl

156.00

311.00

155.00

1.31

1.30

0.04

 

 

incl

587.00

635.00

48.00

diabase

 

 

 

 

incl

646.00

740.00

94.00

0.47

 

0.01

 

 

 

 

 

 

 

 

 

 

94+50E

E11-158

139.00

785.00

646.00

0.61

 

0.02

infill

 

incl

612.00

735.00

123.00

1.18

 

0.03

 

 

 

 

 

 

 

 

 

 

90+00E

E11-159

173.00

210.00

37.00

0.47

 

0.01

outside resource

 

 

251.00

252.00

1.00

1.86

 

0.05

 

 

 

266.00

267.00

1.00

1.45

 

0.04

 

 

 

343.00

344.00

1.00

1.11

 

0.03

 

 

 

395.00

396.00

1.00

1.16

 

0.03

 

 

 

420.00

421.00

1.00

1.50

 

0.04

 

 

 

427.00

428.00

1.00

1.43

 

0.04

 

 

 

 

 

 

 

 

 

 

94+50E

E11-160

240.10

949.00

708.90

0.54

 

0.02

infill

 

incl

300.00

430.00

130.00

0.65

 

0.02

 

 

incl

641.00

699.00

58.00

0.95

 

0.03

 

 

 

925.00

949.00

24.00

0.47

 

0.01

 

 

 

 

 

 

 

 

 

 

95+00E

E11-161

103.00

104.00

1.00

1.97

 

0.06

partial infill

 

 

155.32

178.00

22.68

0.52

 

0.02

 

 

 

229.00

247.00

18.00

0.34

 

0.01

 

 

 

453.00

619.00

166.00

0.76

 

0.02

 

 

incl

453.00

484.00

31.00

1.21

 

0.04

 

95+00E

E11-161, incl

550.00

619.00

69.00

0.91

 

0.03

 

…(cont)

…(cont)

658.00

659.00

1.00

16.86

 

0.49

 

 

 

680.00

685.00

5.00

2.87

 

0.08

 

 

 

 

 

 

 

 

 

 

90+00E

E11-162

12.00

56.00

44.00

1.02

 

0.03

outside resource

 

 

78.00

131.00

53.00

0.94

 

0.03

 

 

 

309.00

310.10

1.10

5.03

 

0.15

 

 

 

313.00

314.00

1.00

2.76

 

0.08

 

 

 

 

 

 

 

 

 

 

88+50E

E11-163

20.00

303.00

283.00

0.93

0.91

0.03

infill

 

incl

42.00

43.30

1.30

27.66

25.00

0.81

 

 

incl

51.00

52.00

1.00

22.36

 

0.65

 

 

incl

168.00

225.00

57.00

1.61

 

0.05

 

 

 

 

 

 

 

 

 

 

94+00E

E11-164

32.00

33.00

1.00

1.65

 

0.05

outside resource

 

 

182.00

183.00

1.00

1.33

 

0.04

 

 

 

315.00

316.20

1.20

2.75

 

0.08

 

 

 

346.00

347.00

1.00

2.99

 

0.09

 

 

 

375.00

377.00

2.00

2.73

 

0.08

 

 

 

537.00

538.00

1.00

1.06

 

0.03

 

 

 

 

 

 

 

 

 

 

90+50E

E11-165

109.00

111.00

2.00

303.80

13.35

8.86

outside resource

 

 

129.00

138.00

9.00

2.40

 

0.07

 

 

 

155.00

156.00

1.00

1.02

 

0.03

 

 

 

163.00

166.00

3.00

2.64

 

0.08

 

 

 

185.00

230.00

45.00

1.07

 

0.03

 

 

 

245.00

246.00

1.00

7.70

 

0.22

 

 

 

261.00

262.00

1.00

2.45

 

0.07

 

 

 

 

 

 

 

 

0.00

 

95+50E

E11-166

4.10

10.00

5.90

0.77

 

0.02

infill

 

 

121.00

334.00

213.00

0.92

 

0.03

 

 

 

351.00

386.40

35.40

0.52

 

0.02

 

 

 

406.00

407.00

1.00

13.08

 

0.38

 

 

 

449.00

450.00

1.00

6.58

 

0.19

 

 

 

462.00

464.00

2.00

1.13

 

0.03

 

 

 

518.00

519.00

1.00

4.55

 

0.13

 

 

 

547.00

579.00

32.00

0.61

 

0.02

 

 

 

621.00

622.00

1.00

5.61

 

0.16

 

 

 

649.00

656.00

7.00

1.04

 

0.03

 

 

 

 

 

 

 

 

 

 

90+50E

E11-167

36.00

37.00

1.00

14.21

 

0.41

outside resource

 

 

114.00

115.00

1.00

1.20

 

0.04

 

 

 

145.00

146.00

1.00

1.84

 

0.05

 

 

 

278.00

281.00

3.00

7.46

 

0.22

 

 

 

299.00

301.00

2.00

5.43

 

0.16

 

 

 

 

 

 

 

 

 

 

90+50E

E11-168

pending

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

88+50E

E11-169

131.00

144.00

13.00

1.42

 

0.04

infill

 

 

188.58

205.00

16.42

0.65

 

0.02

 

 

 

246.00

286.00

40.00

1.14

 

0.03

 

 

 

331.00

333.00

2.00

5.423

 

0.16

 

 

 

395.00

398.00

3.00

1.35

 

0.04

 

 

 

418.00

419.00

1.00

2.225

 

0.06

 

96+50E

E11-170

No significant values

 

 

 

 

 

 

 

 

 

 

 

 

 

95+50E

E11-171

14.85

16.00

1.15

45.99

25

1.34

infill

 

 

45.80

82.00

36.20

0.76

 

0.02

 

 

 

134.00

249.90

115.90

1.48

1.03

0.04

 

 

incl

216.00

217.20

1.20

68.45

25

2.00

 

 

 

296.00

415.00

119.00

0.54

 

0.02

 

 

incl

397.40

399.60

2.20

1.87

 

0.05

 

 

incl

410.00

415.00

5.00

3.46

 

0.10

 

 

 

440.00

504.00

64.00

1.25

1.09

0.04

 

 

incl

452.60

454.00

1.40

22.51

15.35

0.66

 

 

 

 

 

 

 

 

 

 

95+50E

E11-172

18.00

20.00

2.00

1.89

 

0.06

infill

 

 

89.00

162.00

73.00

0.58

 

0.02

 

 

 

229.00

230.00

1.00

6.67

 

0.19

 

 

 

359.00

360.00

1.00

2.22

 

0.06

 

 

 

370.00

372.00

2.00

2.55

 

0.07

 

 

 

516.00

520.00

4.00

1.1

 

0.03

 

 

 

 

 

 

 

 

 

 

95+50E

E11-173

25.55

32.60

7.05

1.42

 

0.04

infill

 

 

81.75

127.00

45.25

1.05

 

0.03

 

 

 

211.00

222.00

11.00

0.96

 

0.03

 

 

 

261.70

262.30

0.60

23.75

 

0.69

 

 

 

373.59

375.00

1.41

14.02

 

0.41

 

 

 

382.00

383.00

1.00

14.04

 

0.41

 

95+00E

E11-173 …(cont)

549.00

550.00

1.00

4.91

 

0.14

 

 

 

 

 

 

 

 

 

 

95+00E

E11-174

366.00

393.00

27.00

0.87

 

0.03

outside resource

Notes:

  • True widths of intersections are unknown at this time.

  • * Only intervals with assays cut to 25 g/t gold are shown.

  • Intervals are graded with a lower cut of 0.30 g/t with internal waste and low grade material within graded zones of up to 20 metres in length.

Trelawney has implemented a quality-control, quality assurance program to ensure best practice principles 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 5 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 of Trelawney, a Qualified Person under National Instrument 43-101 (�NI 43-101�), has prepared or supervised the scientific and/or technical information for the property and verified and approved the data disclosed in this press release.

For complete disclosure of the mineral resource estimate discussed in this press release, please refer to the Technical Report on the C�t� Lake Resource Update, Chester Property, Ontario, Canada reported in accordance with NI 43-101 requirements, signed by W. Roscoe and B. Cook, Roscoe Postle Associates Inc., effective February 24, 2012.�  Investors are cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability.

On April 27, 2012, Trelawney announced that they entered into a definitive agreement with IAMGOLD Corporation (�IAMGOLD�) pursuant to which IAMGOLD, through a wholly-owned subsidiary, has agreed to acquire all of the issued and outstanding common shares of Trelawney. Under the terms of the Agreement, each Trelawney shareholder will receive $3.30 in cash for each Trelawney share held. The transaction price represents a 36.6% premium based on Trelawney�s 20-day volume weighted average price (�VWAP�) for the period ending April 26, 2012. The transaction will be carried out pursuant to a statutory plan of arrangement. Completion of the transaction is subject to customary conditions, including court and shareholder approvals and the receipt of all necessary regulatory approvals. Assuming Trelawney shareholders approve the transaction at the special meeting of shareholders and final court approvals are obtained, the transaction is expected to close by the end of June.

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 continued exploration and development of the C�t� Lake Deposit, located in Chester Township, 20 kilometres southwest of Gogama, Ontario.

For further information contact:
Greg Gibson, President and CEO
416-363-8567 or ggibson@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 information (referred to herein as �forward-looking statements�).�  Generally, forward-looking statements can be identified by the use of forward-looking terminology such as �plans�, �expects�, �budget�, �scheduled�, �estimates�, �forecasts�, �intends�, �anticipates� or �believes� or variations and negative variations of such words and phrases or statements that certain actions, events or results �may�, �could�, �would�, �might� or �will be taken�, �occur� or �be achieved�.�  Forward-looking statements are based on reasonable assumptions that have been made by the Company as at the date of such information and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements including, but not limited to, the completion of the announced transaction involving IAMGOLD Corporation, actual results of current exploration activities, access to capital and future prices of gold and other commodities and those factors discussed in the section entitled �Risk Factors� in the Company�s annual information form for the financial year ended December 31, 2010 as well as those risk factors discussed in the Company�s other continuous disclosure documents filed on and available on SEDAR at www.sedar.com.� �  Forward-looking statements are based on assumptions management believes to be reasonable including, but not limited to: general business and economic conditions; the supply and demand for, deliveries of, and the level and volatility of prices of gold; the timing of the receipt of regulatory and governmental approvals for the Company�s projects; the availability of financing for the Company�s development of its properties on reasonable terms; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the ability to attract and retain skilled staff; exploration timetables; market competition; the accuracy of the Company�s mineral resource estimate (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which it is based; and such other assumptions and factors as are set out herein.�  Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date hereof, or such other date or dates specified in such statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.


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Trelawney Mining and Exploration Inc.
130 King Street West, Suite 2810
Toronto Ontario Canada
M5X 1A4

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

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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)
3.29+0.00%
TSX-V
CA$ 3.29
06/22 14:15 -
0%
Prev close Open
3.29 3.29
Low High
3.29 3.29
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  3.29 -%
Volume 1 month var.
62,290 -%
24hGold TrendPower© : -2
Produces
Develops Gold
Explores for Copper - Gold
 
 
 
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Last updated on : 3/11/2010
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