Trelawney Resources Inc. (TSX VENTURE: TRR) is pleased to announce that it has received regulatory approval regarding a Letter Agreement with West Timmins Mining Inc. ("WTM") whereby Trelawney will have the right to earn a 50% interest in WTM's La Bufa copper-gold-silver project located in Chihuahua, Mexico.

Under the terms of the Letter Agreement, Trelawney may earn a 50% interest in the La Bufa project by funding US$1,000,000 in exploration over 5 years, making cash payments totalling CDN$310,000 over 4 years and issuing 1,500,000 common shares to West Timmins over 3 years. Cash and share payments of CDN $110,000 and 500,000 common shares and exploration funding of US$200,000 are firm commitments on behalf of Trelawney during the first 12 months of the agreement. West Timmins Mining will be the operator of the La Bufa Project.

Trelawney President Wayne O'Connor stated, "We are pleased to be exploring in one of the most prolific mining areas in Mexico. As an example, one needs to look no further than the rapid development and expansion of Palmarajo Silver and Gold's deposit to the northwest and the successful exploitation of the El Sauzal gold deposit by Goldcorp less than 30 kilometres to the west."

The La Bufa project hosts the former producing Carmen Mine which extracted approximately 1 million tonnes of copper and gold ore at average grades of 2.50% copper, 2.80 g/t silver and 2.90 g/t gold between 1947 and 1958. The Carmen vein system was mined over widths of 2 to 6 metres and for 800 metres along strike. Recent sampling by WTM has confirmed the presence of anomalous gold mineralization (0.40 to 18.70 g/t gold) in the hanging wall to the Carmen structure which was not systematically exploited by the previous operators.

West Timmins also recently announced the discovery of a high-grade copper-silver vein system on the property west of the existing workings which returned assay results of 7.20% copper and 1,470 g/t silver from a grab sample collected during a regional stream sediment sampling program.

The La Bufa project is located in the Three States Mineral District of south-western Chihuahua State, Mexico. The La Bufa project is road accessible and is located 75 kilometres east of West Timmins' Montana de Oro Project, 25 kilometres east of Goldcorp's El Sauzal Gold Mine and 10 kilometres east of the high-grade Batopilas Silver District currently being explored by Mag Silver.

Geochemical results reported herein where previously reported and the reader is referred to WTM's news release of October 17, 2007 (NR07-32) for details on quality control and assurance procedures. Mr. Robert Duess (P.Geo.), the Vice President of Trelawney is the qualified person (QP) for this news release and he has visited the property.

Trelawney is also the largest land holder in the entire Wawa/Hemlo mining camp with approximately 21,000 acres now under its control. The Company's neighbour, gold producer Wesdome Gold Mines Ltd. holds approximately 16,000 acres. Trelawney has assembled the largest land package in this area since the Hemlo staking rush in the 1980s. The consolidated property contains over 48 known gold occurrences including The Dorset Gold Deposit where Trelawney recently announced an indicated and inferred gold resource. Exploration programs will resume in January, 2008 on the Dorset property and its 100% owned Mishi claims. Last week the Company filed a NI 43-101 report for the Dorset project on Sedar.

Shares Issued: 73,530,188

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

This press release contains forward looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward looking statements is subject to a number of risks, including those described in the Company's annual information form as filed with the Canadian securities regulators which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward looking statements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contacts: Trelawney Resources Inc. Wayne J. O'Connor President and CEO (416) 361-2826 Email: wayne@trelawneyresources.com Website: www.trelawneyresources.com

SOURCE: Trelawney Resources Inc.

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