Trelawney Files NI 43-101 Technical Report and Resource Estimate Update for Its Cote Lake Deposit in Ontario

Trelawney Mining and Exploration Inc. (the "Company" or "Trelawney") (TSX
VENTURE:TRR)(FRANKFURT:RTW) announces that, further to its news release of
February 24, 2012, the Company has filed the National Instrument 43-101
technical report entitled "Technical Report on the Cote Lake Resource Update,
Chester Property, Ontario, Canada." There are no material differences between
the results of the technical report filed today and the disclosure provided in
the February 24, 2012 news release.


The mineral resource estimate has been audited by Roscoe Postle Associates Inc.
("RPA") and reported in accordance with National Instrument 43-101 requirements.
The resource estimate was prepared by Trelawney's Consulting Geologist Jamie
Lavigne, P.Geo., with the assistance of Mohan Srivastava, P.Geo., Consulting
Geostatistician with FSS Canada. 


The estimate has an indicated resource of 35 million tonnes averaging 0.82 g/t
for contained gold of 0.93 million ounces and an inferred resource of 204
million tonnes averaging 0.91 g/t for 5.94 million ounces of contained gold. A
cut-off grade of 0.3 g/t Au was used for the estimate. The new resource estimate
represents an overall increase of 63% in the total ounces of gold over the 2011
resource estimate.


Table 1 demonstrates the mineral resource at the 0.3 g/t Au cut-off grade and at
several additional cut-off grades for comparison. A preliminary Whittle open pit
design was prepared for the block model to test the mineral resource criteria of
reasonable prospects for economic extraction. Only mineralization falling within
the preliminary pit shell has been included in the resource estimate. The
Whittle pit run also demonstrated that the in-pit resource was data-constrained
and indicated that additional drilling was required to fully define the limits
of the mineralization and conceptual pit boundaries. The effective date of this
resource estimate is February 24, 2012 and the cut-off date for assay data is
December 16, 2011.




                      TABLE 1 MINERAL RESOURCE ESTIMATE               
                              February 24, 2012                       
          Trelawney Mining and Exploration Inc. - Cote Lake Project   
                                                                      
      ----------------------------------------------------------------
                           Cut-off                        Contained Au
                             Grade     Tonnes      Grade   Millions of
      Classification        g/t Au   Millions     g/t Au            oz
      ----------------------------------------------------------------
      Indicated               0.25         37       0.80          0.95
      ----------------------------------------------------------------
      Indicated                0.3         35       0.82          0.93
      ----------------------------------------------------------------
      Indicated                0.4         31       0.88          0.89
      ----------------------------------------------------------------
      Indicated                0.5         26       0.96          0.81
      ----------------------------------------------------------------
      Inferred                0.25        212       0.88          6.02
      ----------------------------------------------------------------
      Inferred                 0.3        204       0.91          5.94
      ----------------------------------------------------------------
      Inferred                 0.4        181       0.97          5.66
      ----------------------------------------------------------------
      Inferred                 0.5        154       1.06          5.26
      ----------------------------------------------------------------
Notes:                                                                      
        1.  CIM Definition Standards were followed for Mineral Resources.   
        2.  Mineral Resources are reported at a cut-off grade of 0.3 g/t Au.
        3.  Mineral Resources are estimated using a gold price of US$1,500  
            per ounce and process recovery of 95%.                          
        4.  High assays are capped at 20 g/t Au or 25 g/t Au by domain.     
        5.  Bulk density ranged from 2.71 t/m3 to 2.79 t/m3 depending on    
            rock type.                                                      
        6.  Mineral resources are not mineral reserves and do not have      
            demonstrated economic viability.                                
        7.  Numbers may not add due to rounding.                            



A review of the block model indicates there is an area of higher grade blocks
near surface in the SW Domain which have potential to form the basis for a
higher grade starter pit. This potential will be evaluated in the preliminary
economic assessment currently being conducted by AMEC.


This mineral resource estimate is based on a total of 129 holes for a total of
65,866 metres drilled from December 2009 to September 2011. Mineralized
wireframes were interpreted and used to constrain grade interpolation by
ordinary kriging with validation by inverse distance squared. The expansion and
definition drill program on the Cote Lake Deposit is ongoing with nine drills
currently working.


The mineral resource estimate for the Cote Lake Project has been audited and
accepted by Dr. William E. Roscoe, P.Eng., Principal Geologist with RPA, an
independent qualified person under NI 43-101, who has also reviewed and approved
the contents of this release.


David Beilhartz, Vice President, Exploration of Trelawney, a Qualified Person
under NI 43-101, has prepared or supervised the scientific or technical
information for the property and verified the data disclosed in this press
release.


Trelawney is also pleased to announce that its affiliate, 986813 Ontario Limited
("986813"), has been confirmed as the owner of 233 claims (3,636 hectares)
located in Chester, Benneweis and St. Louis Townships, Ontario (the "Claims").
2294167 Ontario Inc., a wholly-owned subsidiary of Trelawney, acquired a 55%
interest in 986813 in August 2011. Subsequently, 986813 applied to the Ontario
Mining Lands Commissioner for an order confirming ownership of the Claims. The
order, received in March 2012, confirms 986813's title to the Claims, removes
the notation of "Pending Proceedings" from the Claims' abstracts and sets a new
anniversary date of January 9, 2013 as the next due date for assessment credits.


In addition, Trelawney announces that it has purchased a 0.75% net smelter
return on 18 unpatented mining claims on the Company's Chester 2 Property, for a
purchase price of $100,000.


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.