Greenvale Acquires 100% Interest in Advanced High Grade Oasis Uranium

Greenvale Energy Ltd (ASX: GRV, “Greenvale” or “the Company”) is pleased to advise it has acquired a 100% interest in the advanced high grade Oasis Uranium project. The Oasis deposit and associated regional uranium anomalism are contained with EPM 27565 which cover 53 subblocks over an area of 90 km2 and located 250 km west of Townsville and 50 km west of Greenvale in FNQ (Figure 1). The project area is located entirely within the Lynd Station pastoral land. The company has acquired the 100% interest from the vendors Maverick Exploration Pty Ltd, Remlain Pty Ltd and Mineral Intelligence Pty Ltd (equal 1/3 each interest) for a consideration of $200,000 cash and the issue of 20 million Greenvale shares.

Oasis was discovered during the 1970s uranium exploration push by International companies , most notably Esso whose subsequent work (1977-1979) defined high priority targets with only the Oasis deposit drill tested to date Oasis occurs along a structure associated with a major crustal terrane boundary. (Lynd Mylonite Zone). The metamorphic host rocks, voluminous granite and leucogranite and deformation history share many of the characteristics that can be interpreted as Intrusive (Alaskite) style of uranium mineralisation . This is an exciting possibility, if further exploration continues to strengthen the analogy with world class uranium mines like the Rossing, Namibia.

Highlights:

• Greenvale acquires 100% interest in EPM 27565, covering 90 km2 of fault bound alkaline intrusive and metamorphic terrane which includes the high grade Oasis uranium deposit and 8 additional high priority uranium targets
• Airborne radiometric uranium anomalies were located by Anglo American in 1973, Esso completed major on ground work 1977-1979 1nd drilled 46 holes (32 diamond, 14 percussion) for a total of 4755 m. Esso defined high grade primary uranium mineralisation over a 300m strike length and 200m vertical depth. Mineralisation remains open at depth and possibly along strike.
• Four due diligence diamond drill holes completed in 2006 by Glengarry Resources validated the historic Esso data and confirmed continuous high grade mineralisation with intercepts up to 1m @ 0.72% U3O8 (15.8 lbs/t).
• Oasis shear is interpreted to extend undercover for another 1.5Km to the north and remains untested for extensions to mineralisation.
• Historical radiometric and magnetic data identified large zones of structurally controlled anomalism which remain untested by drilling
• Most recently Terra Search Pty Ltd reprocessed and interpreted the historic geophysical data identifying 9 priority Uranium anomalies over a 10km strike length adjacent to ,, and apparently emanating from the major terrane boundary delineated as the Lynd Mylonite Zone.
• Geoscience Australia (GA) have age dated Oasis Uraninite and associated alteration sericite which has determined a mineralisation age of 433 +/-4 Ma. This Silurian date coincides the uranium mineralisation with the major period of felsic plutonism…