Trelawney Resources Inc (C:TRR)
Shares Issued 88,202,688
Last Close 1/17/2008 $0.08
Friday January 18 2008 - News Release

Also Metalcorp Ltd (C:MTC) News Release

Mr. Wayne O'Connor of Trelawney reports

Trelawney Resources Inc. has notified MetalCorp Ltd. that it is exercising its right to earn a 50-per-cent interest in the Dorset property located 70 kilometres northwest of Wawa, Ont. The company has completed in excess of $2-million in expenditures on the property satisfying the expenditure commitment of the option agreement with MetalCorp and is delivering the balance of shares totalling 900,000 shares and the balance of cash payments totalling $220,000. A 50/50 joint venture will now be formed to complete further exploration on the property.

Since August, 2006, Trelawney has completed 92 drill holes totalling 15,834 metres. The Dorset zone strikes in an east-west direction, has a minimum strike length of 750 metres and is open to depth.

Trelawney recently commissioned a National Instrument 43-101-compliant resource estimate on the property and the results were reported in Stockwatch Oct. 31, 2007. The initial estimate (using a cut-off of 0.50 gram per tonne Au) consists of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.42 g/t Au) and an inferred resource of 180,000 ounces of gold (4.76 million tonnes grading 1.19 g/t Au). The complete report can be accessed on SEDAR.

100-per-cent-owned Mishi property and Murgor Resources Inc. (Mishibishu Lake) option

Trelawney reports that winter camps have been installed and that a drill rig is on site to test for on strike extensions to the Dorset zone. The company has planned a minimum 5,000-metre drilling program to start this week. Several induced polarization (IP) anomalies will be drill tested as well as other known gold occurrences on the properties. The 13,000-acre, 100-per-cent-owned Mishi property is contiguous to Wesdome's producing Eagle River gold mine and the Dorset property. The area is traversed by an all-weather road and power line.

Trelawney can earn up to a 75-per-cent interest in the 4,520-acre Mishibishu Lake property of Murgor by completing $1.5-million on exploration (see news as reported in Stockwatch April 19, 2006). The Mishibishu Lake property is contiguous to the Dorset property and Trelawney's Mishi property.

Trelawney is the largest landholder in the entire Wawa/Hemlo mining camp with approximately 21,000 acres under its control; the consolidated land position contains over 48 known gold occurrences. The company continues to be one of the most active exploration companies exploring for gold in the Mishibishu greenstone belt in the Wawa area.

During December, 2007, the company completed a $1,374,000 financing to finance the exploration programs for 2008.

Vancouver gold show

The company wishes to advise that it will have a corporate display at the upcoming Vancouver Resource Investment conference to be held at the Vancouver Convention and Exhibit Centre on Jan. 20 and Jan. 21, 2008. Exhibit times are 10 a.m. to 6 p.m. on Sunday and 9 a.m. to 5 p.m. on Monday.

Robert Duess, PGeo, is a qualified person as defined in National Instrument 43-101 and is responsible for the technical information presented in this news release.

© 2008 Canjex Publishing Ltd.