GREENVALE ENERGY LTD — Capital/Financing Update 2012

Sep 9, 2012

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10 September 2012

CALL UPDATE: FORFEITED PARTLY PAID SHARES

Pursuant to ASX Listing Rule 3.12.2 Greenvale Mining NL (ASX Code: GRV) ( Company ) advises that on Friday, 7 September 2012 7,048,793 shares were automatically forfeited as a result of non-payment of the call of 15 cents ($0.15) payable on all Partly Paid Shares of the Company (ASX Code: GRVCA) ( Call ). Since that date, 1,700 shares have been redeemed by Partly Paid Shareholders of the Company.

The Company intends to sell all forfeited shares which are not redeemed at a public auction to be held at 10:00am on Monday, 24 September 2012 at The Westin Hotel, 1 Martin Place, Sydney NSW 2000.

Shares offered for sale at the public auction will be fully paid ordinary shares of the Company (ASX: GRV) and will be offered in parcels of 100,000 and 500,000 shares.

Partly Paid Shareholders whose shares have been forfeited for non-payment of the Call have a statutory right to redeem any or all of those Partly Paid Shares at any time up to 5:00pm AEST on 21 September 2012 by paying all amounts due in respect of the Call, being $0.15 per Partly Paid Share.

Further Information;

Winton Willesee Company Secretary

(08) 9389 3120

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