Trelawney Commences Compulsory Acquisition of Augen Gold Corp. Shares

Trelawney Mining and Exploration Inc. ("Trelawney") (TSX
VENTURE:TRR)(FRANKFURT:RTW) announces today that it will be acquiring all of the
common shares ("Augen Gold Shares") of Augen Gold Corp. ("Augen Gold") (TSX
VENTURE:GLD) that it does not already own pursuant to the compulsory acquisition
provisions of the Business Corporations Act (Ontario) (the "Act").


As a result of Trelawney's successful takeover bid (the "Offer") for Augen Gold
that expired on September 23, 2011, Trelawney now holds approximately 93% of the
outstanding Augen Gold Shares. Trelawney intends to acquire the remaining 7%
that it does not currently own by compulsory acquisition on or before November
4, 2011. Under the compulsory acquisition, Augen shareholders who do not elect
to exercise dissent rights pursuant to the Act, will receive 0.0862 of a common
share of Trelawney for each Augen Gold Share they own. A notice of compulsory
acquisition will be mailed to the shareholders of Augen Gold today and a copy of
the notice is available online at www.sedar.com or www.trelawneymining.com.


Following completion of the compulsory acquisition, Trelawney will take the
necessary steps to delist Augen Gold from the TSX Venture Exchange.


Augen Gold shareholders are encouraged to contact Equity Financial Trust Company
for further information on the compulsory acquisition procedures and any other
information relating to the Offer.


This press release does not constitute an offer to buy or an invitation to sell,
or the solicitation of an offer to buy or invitation to sell, any securities of
Trelawney or Augen Gold. Such an offer may only be made pursuant to an offer and
takeover bid circular filed with the securities regulatory authorities in Canada
and pursuant to registration or qualification under the securities laws of any
other such jurisdiction.


U.S. Investors and Securityholders

In connection with the Offer, Trelawney has filed relevant materials with the
United States Securities and Exchange Commission (the "SEC"), including one or
more registration statements that contain a prospectus. U.S. investors and U.S.
securityholders are urged to read these documents and any other relevant
documents filed by Trelawney with the SEC, as well as any amendments or
supplements to these documents because they contain important information. U.S.
Investors and U.S. securityholders may obtain these documents free of charge at
the SEC's website at www.sec.gov. In addition, the documents filed with the SEC
by Trelawney can be obtained free of charge by directing such request to
Trelawney's Information Agent, Laurel Hill Advisory Group or at Trelawney's
website at www.trelawneymining.com. U.S. investors and U.S. securityholders are
urged to read the prospectus and the other relevant materials before making any
investment decision with respect to the Offer. 


About Trelawney

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.


About Augen Gold

Augen Gold is a gold exploration company with 23,685 hectares of staked and
patented mining claims in the Southern Swayze Greenstone Belt, including the
formerly producing Jerome Gold Mine. The claims cover a 45-kilometre long
section of the Ridout Deformation Zone, believed to be the western extension of
the Kirkland Lake/Larder Lake Break. The geological setting is comparable to the
major gold camps of Timmins and Kirkland Lake, and the claims contain numerous
gold showings that have received very little historical exploration. 


This press release contains only summary information about the Offer and does
not constitute an offer to purchase any securities. Complete information about
the Offer is available by referring to the offer to purchase and take-over bid
circular filed with Canadian securities regulators. Certain statements contained
in this press release concerning Trelawney's objectives, goals, strategies,
intentions, plans, beliefs, expectations and estimates are forward-looking
statements. The words "believe", "expect", "intend", "may", "anticipate",
"will", "would" and similar expressions and the negative of such expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are not based on historical facts, but rather on
current expectations, assumptions and projections about future events. While
Trelawney considers these factors and assumptions to be reasonable based on
information currently available, they may be proven to be incorrect. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such factors include, but are not
limited to general economic conditions; dependence on key personnel; and
variations in required capital expenditures. Given these uncertainties, readers
are cautioned not to place undue reliance on such forward-looking statements.