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1. Preheat oven to 300 degrees F. In a foil roasting pan, combine cereal and nuts; set aside.
2. In a small saucepan, combine brown sugar, corn syrup, and butter. Cook and stir over medium heat until butter is melted and mixture is smooth. Pour over cereal mixture; stir gently to coat.
3. Bake for 30 minutes, stirring twice. Remove from oven. Spread mixture on a large piece of buttered foil; cool. Wash and dry the foil roasting pan.
4. Break cereal mixture into pieces; return to clean roasting pan. Stir in chocolate-covered raisins; cover.