Start at the tree, you should see a river to your right. Follow the river north until you see the 3 rocks across the river. Cross the river and climb up the three rocks. From there look West and you should see a tree. Head to the tree and climb up it until you are in the "V" shaped part at the top. You will notice you can jump to a few other trees so go ahead and do that and you will see a little town. Find the Tavern and climb to the top. If you notice to the North you can see a clearing in the trees. head to that clearing and once you are there climb down the rocks into the hole that is there and after you look around a bit you should find the trinket.
This might help. When you are supposedly above the trinket next to the cabin. Go down slope past the cabin to the right. You should see more cabins. You should see a guy using his saw on some wood. Keep heading toward to right down slope until you see mining carts and a mine along the right cliff. It's in the mine.