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Message: Trelawney drills 15 holes at Mishibishu Lake

Trelawney drills 15 holes at Mishibishu Lake

posted on Mar 31, 2008 06:05AM

2008-03-31 09:22 ET - News Release

Also News Release (C-WTM) West Timmins Mining Inc

Mr. Wayne O'Connor of Trelawney reports

TRELAWNEY RESOURCES INC.: ASSAY RESULTS PENDING FOR WAWA, ONTARIO GOLD PROJECT

Trelawney Resources Inc. has completed 15 diamond drill holes totalling 3,259 metres so far on the Mishibishu Lake property located 60 kilometres northwest of Wawa, Ont. The continuing 5,000-metre drilling program is testing several targets identified by soil sampling, prospecting, channel sampling and/or induced polarization surveys. A map showing the sampled areas and geological description of the drill targets can be viewed on the company's website. Assay results are pending and results are expected within two weeks. Trelawney can earn up to a 75-per-cent interest in the 4,520-acre Mishibishu Lake property of Murgor Resources Inc. by completing $1.5-million on exploration (see press release in Stockwatch dated April 19, 2006).

The Mishibishu Lake property straddles the Dorset property to the northwest, south and to the southeast. Trelawney has completed 92 drill holes totalling 15,834 metres along the Dorset zone. The zone strikes in an east-to-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 Dorset zone and the results were reported in a press release in Stockwatch dated Oct. 31, 2007. The initial estimate (using a 0.5-gram-per-tonne-gold cut-off) 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.

Trelawney also owns a 100-per-cent interest in the 13,000 acre Mishi property which is contiguous to Wesdome's producing Eagle River gold mine, the Mishibishu Lake property and the Dorset property. The area is traversed by an all weather road and power line.

Exploration commences on the La Bufa copper, gold and silver project in Mexico

West Timmins Mining Inc. has advised the company that mapping, sampling programs and data compilation commenced this week on the La Bufa property located in Chihuahua, Mexico. The purpose of the program is to follow up on new discoveries on the property and to prioritize drill targets in the old mining area as soon as possible.

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 2.5 per cent copper, 2.8 g/t silver and 2.9 g/t gold between 1947 and 1958. The Carmen vein system was mined over widths of two to six metres and for 800 metres along strike. Recent sampling by WTM has confirmed the presence of anomalous gold mineralization (0.4 to 18.7 g/t gold) in the hanging wall to the Carmen structure which was not systematically exploited by the previous operators.

WTM 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 7.2 per cent copper and 1,470 g/t silver from a grab sample collected during a regional stream sediment sampling program.

Under the terms of the letter agreement, Trelawney can earn a 50-per-cent interest in the La Bufa project by financing $1-million (U.S.) in exploration over five years, making cash payments totalling $310,000 over four years and issuing 1.5 million common shares to WTM over three years. Cash and share payments of $110,000 and 500,000 common shares and exploration financing of $200,000 (U.S.) are firm commitments on behalf of Trelawney during the first 12 months of the agreement. WTM is the operator of the La Bufa project.

The La Bufa project is located in the Three States mineral district of southwestern 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 adjacent to Mag Silver's Batopilas silver project.

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.

We seek Safe Harbor.

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