GREENVALE ENERGY LTD — Director's Dealing 2007

Oct 28, 2007

Appendix 3Y Change of Director’s Interest Notice

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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	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	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.

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Appendix 3Y Change of Director’s Interest Notice

Nature of change Not applicable Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, 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 FamilyHoldings Pty Limited, L & E White Investments PtyLimited and Swiss Corporate Credit Pty Limited ("theGrantors") and Captain Starlight Nominees Pty Limitedover shares in Greenvale Mining NL ("the Deed of CallOption")
Nature of interest	(a) A direct interest as the grantor of a call option asdefined in the Deed of Call Option over shares inGreenvale Mining NL held in the name of LeslieLaszlo White.(b) Leslie Laszlo White is a director of and shareholder inExploration Finance Pty Limited, L & E White FamilyHoldings Pty Limited, L & E White Investments PtyLimited and Swiss Corporate Credit Pty Limited, andto that extent has an indirect interest in the Deed ofCall Option, so far as it relates to the grant of calloptions by Exploration Finance Pty Limited, L & EWhite Family Holdings Pty Limited, L & E WhiteInvestments Pty Limited and Swiss Corporate CreditPty Limited over their shares in Greenvale Mining NLreferred 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 towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	The Deed of Call Option operates in respect of shares heldin Greenvale Mining NL by the following people/entities inthe following amounts:(a) Leslie Laszlo White: 89,633 contributing shares.(b) Exploration Finance Pty Limited: 1,147,500contributing shares;L & E White Family Holdings Pty Limited: 50,000contributing shares;

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

	L & E White Investments Pty Limited: 333,500contributing sharesSwissCorporateCreditPtyLimited:105,677contributing shares
Interest acquired	(a) Leslie Laszlo White is the grantor of a call option overshares held by him in Greenvale Mining NL pursuantto the terms of the Deed of Call Option.(b) Leslie Laszlo White obtains a benefit in the granting ofthe call options by Exploration Finance Pty Limited, L& E White Family Holdings Pty Limited, L & E WhiteInvestments Pty Limited and Swiss Corporate CreditPty Limited over shares held by them in GreenvaleMining NL by virtue of his being a director andshareholder of Exploration Finance Pty Limited, L &E White Family Holdings Pty Limited, L & E WhiteInvestments Pty Limited and Swiss Corporate CreditPty Limited.
Interest disposed	(a) Captain Starlight Nominees Pty Limited is the granteeof a call option from Leslie Laszlo White over 89,633contributing shares held by him in Greenvale MiningNL pursuant to the terms of the Deed of Call Option.No interest is disposed of by Leslie Laszlo Whiteunless the call option is exercised.(b) Captain Starlight Nominees Pty Limited is the granteeof call options from Exploration Finance Pty Limited,L & E White Family Holdings Pty Limited, L & EWhite Investments Pty Limited and Swiss CorporateCredit Pty Limited over 1,147,500 contributing shares,50,000 contributing shares, 333,500 contributingshares and 105,667 contributing shares held by themrespectively in Greenvale Mining NL. No indirectinterest is disposed of by Leslie Laszlo White unlessthe call option is exercised.
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	$97,787.96 being the call option fee relating to the sharesheld by the Grantors in Greenvale Mining NL referred toabove.
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 requiringLeslie Laszlo White, Exploration Finance Pty Limited, L &E White Family Holdings Pty Limited, L & E WhiteInvestments Pty Limited and Swiss Corporate Credit PtyLimited to sell to Captain Starlight Nominees Pty Limited,or its nominee, the shares in Greenvale Mining NL referredto above.
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• See chapter 19 for defined terms.

11/3/2002

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