2008-06-24 08:36 ET - News Release

Mr. Wayne O'Connor reports

TRELAWNEY ANNOUNCES COMPLETE DRILL RESULTS AND HIGH GRADE GOLD RESULTS UP TO 11.66 G/T AU ON SURFACE IN WAWA

Trelawney Resources Inc. has received the full assay results from the winter drill program completed on the Mishibishu Lake property (Murgor option), located approximately 60 kilometres northwest of Wawa, Ont. The drilling program consisted of 26 holes (MR-08-8 to MR-08-33), totalling 5,691 metres. Drilling was conducted to test several targets identified by soil sampling, prospecting, channel sampling and/or induced polarization surveys. As shown on a map which can be viewed on the company's website, many of these target areas are located along strike to the east and to the northwest of the Dorset zone.

Significant gold mineralization was intersected in the majority of holes; the most significant assay results include 5.23 grams per tonne gold over 1.1 metres, 5.60 grams per tonne gold over 0.5 metre, 3.40 grams per tonne gold over 1.9 metres, 4.08 grams per tonne gold over 2.3 metres. Complete assay results are summarized in the attached table.

From To Grade Core Length
Hole (Metres) (Metres) (g/t gold) (metres)

MR-08-8 (iii) Anomalous values
MR-08-9 (iii) 67.4 68.5 1.44 1.1
MR-08-10 (iii) 33.8 34.5 1.41 0.7
MR-08-11 (iii) 21.5 22.0 1.29 0.5
25.1 25.4 1.63 0.3
MR-08-12 (iii) Anomalous values
MR-08-13 (iii) Anomalous values
MR-08-14 (iii) 5.2 20.0 0.46 14.8
MR-08-15 (iii) 244.5 245.3 1.77 0.8
MR-08-16 (iii) 63.7 66.0 4.08 2.3
77.2 78.1 2.75 0.9
99.4 100.4 1.42 1.0
MR-08-17 Anomalous values
MR-08-18 192.8 193.9 0.77 1.1
MR-08-19 13.0 14.9 3.40 1.9
MR-08-20 51.4 52.4 1.20 1.0
MR-08-21 42.1 43.2 1.05 1.1
194.3 195.4 0.78 1.1
MR-08-22 58.3 59.4 1.84 1.1
MR-08-23 20.8 22.3 0.71 1.5
MR-08-24 2.4 10.8 0.29 8.4
18.0 19.2 0.80 1.2
MR-08-25 156.7 157.8 5.23 1.1
180.0 180.8 1.08 0.8
186.6 187.7 2.24 1.1
198.5 199.0 5.60 0.5
201.0 203.9 1.12 2.9
MR-08-26 32.4 33.5 1.82 1.1
57.3 58.8 0.77 1.5
MR-08-27 29.2 29.9 1.96 0.7
101.5 110.0 0.56 8.5
102.6 103.7 0.91 1.1
105.9 107.0 1.08 1.1
165.3 166.2 2.74 0.9
183.1 183.4 3.09 0.3
MR-08-28 138.6 139.4 0.86 0.8
MR-08-29 80.1 80.7 1.27 0.6
270.6 271.2 1.45 0.6
325.7 326.6 1.64 0.9
MR-08-30 267.2 267.7 3.35 0.5
MR-08-31 Anomalous values
MR-08-32 Anomalous values
MR-08-33 49.6 50.3 1.04 0.7

(i) All results are core lengths not true widths.
(ii) All split or sawn core samples were submitted to Accurassay Laboratories Ltd., Thunder Bay, Ont., and/or Swastika Laboratories, Swastika, Ont. All gold assaying was performed using a 30-gram standard fire assay with an AA and/or gravimetric finish.
(iii) Previously released on April 23, 2008

Wayne O'Connor, president and chief executive officer of Trelawney, stated that:

"There appears to be a widespread pregnant gold system on Trelawney's landholdings in the Wawa gold camp as recent drilling has encountered gold mineralization hosted within altered metavolcanics, altered metasediments and quartz carbonate veining. We are particularly encouraged with the degree and style of mineralization, alteration and deformation, as these are key geological elements which are present in virtually all world-class Archean gold deposits."

Trelawney can earn up to a 75-per-cent interest in the 4,520-acre Mishibishu Lake property owned by Murgor Resources Inc. by spending $1.5-million on exploration (see news issued in Stockwatch dated April 19, 2006).

On the Dorset property, Trelawney has earned a 50-per-cent interest in the project, and a joint venture has now been formed with MetalCORP Ltd. Trelawney is the manager of the joint venture and has presented an exploration program for 2008, which include mechanical stripping and approximately 2,500 metres of additional drilling, with an estimated budget of approximately $476,000. MetalCORP has decided not to participate in this phase of the program, and their interest in the project will be diluted below 50 per cent pursuant to the standard dilution clauses contained within the agreement.

On the Dorset property, a limited mechanical stripping program was conducted late last year. Approximately 1,700 square metres of stripping was conducted in the southeast area of the Dorset zone. This stripping was conducted to expose the Dorset zone mineralization which was intersected in holes MC-07-93 and MC-07-116. Washing, detailed mapping and channel sampling of the stripped area could not be completed last year due to early snowfall and freezing conditions. However, Dorset zone mineralization was observed in certain areas, and a total of nine grab samples were collected at that time. Results of samples returned assay values ranging from 2.47 grams per tonne gold to 11.66 grams per tonne gold. Four additional surface samples were taken this spring on the stripped area and assay results include 0.86, 4.45, 6.77 and 8.13 grams per tonne gold. This area will be a priority drill target for the upcoming drill program.

Trelawney recently commissioned a National Instrument 43-101-compliant resource estimate on the Dorset zone and the results were reported in a press release dated Oct. 31, 2007. The initial estimate (using a 0.50-gram-per-tonne gold cut-off) consists of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.42 grams per tonne gold) and an inferred Resource of 180,000 ounces of gold (4.76 million tonnes grading 1.19 grams per tonne gold).

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 Dorset property and the Mishibishu Lake property. The area is traversed by an all-weather road and power line. A prospecting and sampling program is in currently in progress.

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.