GREENVALE ENERGY LTD — Director's Dealing 2007

Nov 15, 2007

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2 2

Appendix 3Y - Amended

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	Greenvale Mining NL
ABN	54 000 743 555

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Leslie Laszlo White
Date of last notice	Not applicable

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Indirect interest by virtue of Leslie Laszlo White being a director of and shareholder in Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited, White Corporate Management Pty Limited and SwissCorporateCredit PtyLimited
**Date of change **
No. of securities held prior to change	• 108,945 contributing shares in the name of Leslie Laszlo White • 1,147,500 contributing shares in the name of Exploration Finance Pty Limited • 50,000 contributing shares in the name of L & E White Family Holdings Pty Limited • 333,500 contributing shares in the name of L & E White Investments Pty Limited • 105,677 contributing shares in the name of Swiss Corporate Credit Pty Limited • 118,000 fully paid shares in the name of L & E White Family Holdings Pty Limited • 97,000fully paid shares in the name of L

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

	& E White Investments Pty Limited • 12,200 fully paid shares in the name of Swiss Corporate Credit Pty Limited •17,955 fully paid shares in the name of White Corporate Management Pty Limited
Class	See no.of securities above
Number acquired
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	• 108,945 contributing shares in the name of Leslie Laszlo White • 1,147,500 contributing shares in the name of Exploration Finance Pty Limited • 50,000 contributing shares in the name of L & E White Family Holdings Pty Limited • 333,500 contributing shares in the name of L & E White Investments Pty Limited • 105,677 contributing shares in the name of Swiss Corporate Credit Pty Limited • 118,000 fully paid shares in the name of L & E White Family Holdings Pty Limited • 97,000 fully paid shares in the name of L & E White Investments Pty Limited • 12,200 fully paid shares in the name of Swiss Corporate Credit Pty Limited • 17,955 fully paid shares in the name of White Corporate Management Pty Limited
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestmentplan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Deed of Call Option between Leslie Laszlo White, Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited ("the Grantors") and Captain Starlight Nominees Pty Limited over shares in Greenvale Mining NL ("the Deed of Call Option")
Nature of interest	(a) A direct interest as the grantor of a call option as defined in the Deed of Call Option over shares in Greenvale Mining NL held in the name of Leslie

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

	Laszlo White. (b) Leslie Laszlo White is a director of and shareholder in Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited, and to that extent has an indirect interest in the Deed of Call Option, so far as it relates to the grant of call options by Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited over their shares in Greenvale Mining NL referred to below.
Name of registered holder (if issued securities)	(a) Leslie Laszlo White (b) Exploration Finance Pty Limited; L & E White Family Holdings Pty Limited; L & E White Investments Pty Limited; Swiss Corporate Credit Pty Limited.
Date of change	24 October 2007, being the date of the Deed of Call Option
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	The Deed of Call Option operates in respect of shares held in Greenvale Mining NL by the following people/entities in the following amounts: (a) Leslie Laszlo White: 89,633 contributing shares. (b) Exploration Finance Pty Limited: 1,147,500 contributing shares; L & E White Family Holdings Pty Limited: 50,000 contributing shares; L & E White Investments Pty Limited: 333,500 contributing shares Swiss Corporate Credit Pty Limited: 105,677 contributing shares
Interest acquired	(a) Leslie Laszlo White is the grantor of a call option over shares held by him in Greenvale Mining NL pursuant to the terms of the Deed of Call Option. (b) Leslie Laszlo White obtains a benefit in the granting of the call options by Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited over shares held by them in Greenvale Mining NL by virtue of his being a director and shareholder of Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited.

• See chapter 19 for defined terms.

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Interest disposed	(a) Captain Starlight Nominees Pty Limited is the grantee of a call option from Leslie Laszlo White over 89,633 contributing shares held by him in Greenvale Mining NL pursuant to the terms of the Deed of Call Option. No interest is disposed of by Leslie Laszlo White unless the call option is exercised. (b) Captain Starlight Nominees Pty Limited is the grantee of call options from Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited over 1,147,500 contributing shares, 50,000 contributing shares, 333,500 contributing shares and 105,667 contributing shares held by them respectively in Greenvale Mining NL. No indirect interest is disposed of by Leslie Laszlo White unless the call option is exercised.
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	$97,787.96 being the call option fee relating to the shares held by the Grantors in Greenvale Mining NL referred to above.
Interest after change	Captain Starlight Nominees Pty Limited may at any time prior to 5.00pm on 13 November 2007 exercise the call option granted to it by the Deed of Call Option requiring Leslie Laszlo White, Exploration Finance Pty Limited, L & E White Family Holdings Pty Limited, L & E White Investments Pty Limited and Swiss Corporate Credit Pty Limited to sell to Captain Starlight Nominees Pty Limited, or its nominee, the shares in Greenvale Mining NL referred to above. The call option was exercised on 13 November 2007.

2

• See chapter 19 for defined terms.

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