Trelawney Mining and Exploration Inc Commences Compulsory Acquisition of Augen Gold Corp. Shares

Trelawney Mining and Exploration Inc announced that it will be acquiring all of the common shares of Augen Gold Corp. that it does not already own pursuant to the compulsory acquisition provisions of the Business Corporations Act (Ontario). As a result of Trelawney's takeover bid 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. Following completion of the compulsory acquisition, Trelawney will take the necessary steps to delist Augen Gold from the TSX Venture Exchange.