Trelawney Completes Compulsory Acquisition of Shares of Augen Gold

Trelawney Mining and Exploration Inc. ("Trelawney") (TSX
VENTURE:TRR)(FRANKFURT:RTW) and Augen Gold Corp. ("Augen Gold") announces today
that Trelawney has completed its previously announced compulsory acquisition,
pursuant to provisions of the Business Corporations Act (Ontario) (the "Act"),
of all of the outstanding common shares of Augen ("Augen Gold Shares") that it
does not already own.


As a result of the compulsory acquisition, Augen Gold is now a wholly-owned
subsidiary of Trelawney and former Augen Gold shareholders are entitled to
receive 0.0862 of a common share of Trelawney (each whole common share, a
"Trelawney Share") for each Augen Gold Share formerly held by them. To effect
the compulsory acquisition, Trelawney has mailed a notice of compulsory
acquisition to the shareholders of Augen Gold.


Deposits of Augen Shares with Equity Financial Trust Company, depositary for
Trelawney can continue be effected using the letter of transmittal that has been
mailed to former Augen shareholders along with the notice of compulsory
acquisition. A copy of the notice and letter of transmittal are available online
on Augen's profile at www.sedar.com.


The Augen Shares have been de-listed from the TSX Venture Exchange as at the
close of markets on Friday, October 28, 2011.


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.


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.