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Message: Trelawney Completes Acquisition of 21.6% Interest in Claim 266

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Trelawney Completes Acquisition of 21.6% Interest in Claim 266

posted on Sep 09, 11 07:02PM (Log in to use the IP Check tool) ^[?]

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TORONTO, ONTARIO--(Marketwire - Sept. 9, 2011) - Trelawney Mining and Exploration Inc. (the "Company" or "Trelawney") (TSX VENTURE:TRR)(FRANKFURT:RTW) announces that further to its press release of December 1, 2010, it has completed the previously announced acquisition of a 21.62% undivided interest in leased mining Claim 266, comprising a part of the Chester 3 Property, pursuant to the terms of a purchase agreement dated November 26, 2010. Trelawney has an option to acquire 92.5% of the residual interest in Claim 266. In connection with the acquisition Trelawney has received documentation to transfer the interest in the claim which will be filed shortly and final transfer of interest in the claim is subject to ministerial approval.

Trelawney also announces that it has entered into an agreement of purchase and sale dated September 8, 2011 with Mag Copper Limited ("Mag Copper"), pursuant to which the Company will sell all of the issued and outstanding common shares of Massey Copper Company Limited, a wholly owned subsidiary of the Company, and will advance $1,000,000 to Mag Copper in exchange for 8,225,000 common shares of Mag Copper. Massey Copper Company Limited is the beneficial holder of the Massey Property, consisting of 6 patented and 20 unpatented mining claims located in the Townships of Salter and May, District of Sudbury, Ontario.

In addition, Trelawney intends to issue an aggregate of 100,000 common shares to Mattagami First Nation pursuant to the terms of an Exploration Agreement dated September 10, 2009.

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 Cote Lake Deposit, 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.

FOR FURTHER INFORMATION PLEASE CONTACT: Greg Gibson
Trelawney Mining and Exploration Inc.
President and CEO
416-363-8567
ggibson@trelawneymining.com