TRR Trelawney Mining And Exploration

Trelawney Mining and Exploration Inc. (the "Company" or "Trelawney") (TSX
VENTURE:TRR)(FRANKFURT:RTW) is pleased to announce that further to its press
release dated November 23, 2011, the Company has entered into a restated
amending agreement (the "Restated Amending Agreement") with Treelawn Group Inc.
("Treelawn"), with respect to the Chester 3 Property.


Effective November 22, 2011, the Company earned 92.5% of Treelawn's interest in
the Chester 3 Property, which is comprised of 1 mining lease, 20 patented claims
and 29 unpatented mining claims covering approximately 890 hectares and contains
part of the Cote Lake Deposit. Under the terms of an amending agreement (the
"Amending Agreement") dated November 22, 2011, between the Company and Treelawn,
the Company accelerated the terms of the mining option agreement (the "Chester 3
Option Agreement") dated December 21, 2009, and earned 92.5% of Treelawn's
interest in the Chester 3 Property. In consideration of accelerating the
exercise of the Chester 3 Option Agreement Treelawn's residual 7.5% working
interest in the Chester 3 Property was converted into a 7.5% free carried
interest.


Pursuant to the Restated Amending Agreement Treelawn's residual 7.5% working
interest in the Chester 3 Property will be converted into a 7.5% net profits
interest in and to the Chester 3 Property. The net profits interest shall be
calculated by subtracting all operating costs from the sale of minerals produced
from the Chester 3 Property following the commencement of commercial production.


The Company has also entered into an option agreement (the "Option Agreement")
dated March 28, 2012 with John Patrick Sheridan ("Sheridan"), pursuant to which
Trelawney has been granted the exclusive right to acquire up to a 51% interest
in 27 unpatented mining claims located in the Townships of Benneweis, Champagne
and Groves, Porcupine Mining Division, Ontario (the "SST Property").


Pursuant to the terms of the Option Agreement Trelawney may earn a 51% interest
by paying the sum of $250,000 to Sheridan and incurring $500,000 in exploration
expenditures on the SST Property on or before December 31, 2012.


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.

Trelawney Mining And Exploration (TSXV:TRR)
Historical Stock Chart
From Mar 2024 to Apr 2024

Trelawney Mining And Exploration (TSXV:TRR)
Historical Stock Chart
From Apr 2023 to Apr 2024