Golden Oasis Exploration Corp.
TSX VENTURE : GOT

Golden Oasis Exploration Corp.

May 17, 2006 08:00 ET

Golden Oasis Acquires Additional Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Golden Oasis Exploration Corp. (the "Company") (TSX VENTURE:GOT) has acquired an additional 77 claims in the Toiyabe area, giving the Company an additional 1,540 acres or 2.5 square miles of ground to explore and develop. The new claims include areas of alteration found during geologic mapping of the area.

The Toiyabe Property is the Company's principal property, located in Lander County, Nevada, and is the subject of a US$400,000 exploration program during 2006. A two-phase exploration program has been recommended to test the theory that recorded near surface mineralization is the result of leakage upward along favorable structures from a deep seated source that could be enriched in gold, as is typical of the known deposits in the Nevada gold trends. The first phase of the exploration program will include an IP survey and drilling 7 - 8 holes of approximately 700-800 feet in depth in those areas to help understand the lower plate stratigraphy and to test for buried mineralized structures that may be sources of the shallower erratic higher grade mineralization.

For details on the Company and its properties, see the prospectus of the Company dated February 9, 2006, available on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD

Robert Eadie, Chief Executive Officer and Director

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

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