GREENVALE ENERGY LTD — Director's Dealing 2007

Oct 28, 2007

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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	Gabriel Michael Lorentz
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.

part.
Direct or indirect interest	Not applicable
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Not applicable
Date of change	Not applicable
No. of securities held prior to change	Not applicable
Class	Not applicable
Number acquired	Not applicable
Number disposed	Not applicable
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Not applicable
No. of securities held after change	Not applicable

• See chapter 19 for defined terms.

11/3/2002

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Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Not applicable

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 Gabriel Michael Lorentz andDTR Management and Financial Services Pty Limited ("theGrantors") and Captain Starlight Nominees Pty Limitedover shares in Greenvale Mining NL ("the Deed of CallOption")
Nature of interest	A direct interest as the grantor of a call option as defined inthe Deed of Call Option over shares in Greenvale MiningNL held in the name of Gabriel Michael Lorentz
Name of registered holder(if issued securities)	Gabriel Michael Lorentz
Date of change	24 October 2007, being the date of the Deed of Call Option
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	220,000 contributing shares
Interest acquired	Gabriel Michael Lorentz is the grantor of a call option overshares held by him in Greenvale Mining NL pursuant to theterms of the Deed of Call Option.
Interest disposed	Captain Starlight Nominees Pty Limited is the grantee of acall option from Gabriel Michael Lorentz over 220,000contributing shares held by him in Greenvale Mining NLpursuant to the terms of the Deed of Call Option. Nointerest is disposed of by Gabriel Michael Lorentz until thecall option is exercised.
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	$28,518.52 being the call option fee relating to the shares inGreenvale Mining NL referred to above.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y Change of Director’s Interest Notice

Interest after change	Captain Starlight Nominees Pty Limited may at any timeprior to 5.00pm on 13 November 2007 exercise the calloption granted to it by the Deed of Call Option requiringGabriel Michael Lorentz to sell to Captain StarlightNominees Pty Limited, or its nominee, the shares inGreenvale Mining NL referred to above.

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 3