Golden Oasis Exploration Corp.
TSX VENTURE : GOT

Golden Oasis Exploration Corp.

October 30, 2007 10:00 ET

Golden Oasis Completes 2007 Drilling Program at its Toiyabe Project

Two Gold Zones Defined

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2007) - Golden Oasis Exploration Corp. (TSX VENTURE:GOT) has completed a 16,417 feet angle drilling program at its Toiyabe Property located in Lander County, Nevada. Drilling consisted of 8 core and 43 RC holes. Results received to date have defined two gold bearing structures, discovered a major northwest trending high angle fault that could be a feeder for the mineralization and determined the detailed stratigraphy of the area.

Drilling of the Courtney A and B faults has thus far defined a 750 feet by 300 feet zone of +0.5 g/t gold zone associated with the Courtney A fault and a 600 feet by 200 feet Gold zone associated with the Courtney B fault. The Courtney faults are truncated by a major northwest trending high-angle fault that correlates well with a fault target interpreted from a geophysical survey run in 2006. This fault, which has been named the West Graben 1 fault, is a possible feeder not only for the Courtney fault mineralization, but limestone hosted mineralization at depth. This type of deposit, hosted by specific limey units, would be similar to the Pipeline mine located 7 miles to the north.

The gold associated with the Courtney faults is within 45 degree dipping fault zones within Upper Plate siliceous rocks. Lower plate rocks that contain abundant limey units including good host rocks for gold have now been identified west of the West Graben 1 fault at surface and are projected to occur beneath the Courtney faults area at depth. The host rocks dip gently west. Favorable host rocks, projected to occur 600 to 1,000 feet below the surface east of the Graben fault, will be tested next Spring.

Drilling results for 27 of the 43 holes drilled are in hand. Results for the first 7 holes were listed in an earlier press release. The remainder are listed below showing only results greater than or equal to 1.0 g/t gold. The majority of the gold is hosted by the Courtney faults. A broad (+20 feet) zone of low grade mineralization (+0.3 g/t gold) often surrounds a narrow core (5-10 feet) of higher grade. High grade drill intercepts from this years drilling include 5.5 feet of 14.8 g/t (0.43 oz/ton) gold in T-701, 10 feet of 26.6 g/t (0.78 oz/ton) gold in T-706, 10 feet of 10.6 g/t (0.309 oz/ton) gold in hole T-719 and 5 feet of 21.8 g/t (0.637 oz/ton) gold in T-722. The majority of the mineralization intersected to date is shallow enough to be extracted by open pit methods.



Toiyabe Summary Drilling Results

--------------------------------------------------------------------------
Total Gold Gold
Azimuth Dip Depth From To Interval Value Value
HOLE # (Degrees) (Degrees) (Feet) (Feet) (Feet) (Feet) (g/t) (oz/ton)
--------------------------------------------------------------------------
T-708C 45 -60 960 40 45 5 1.00 0.029
390 400 5 1.45 0.042
595 600 5 1.15 0.034
--------------------------------------------------------------------------
T-709 45 -45 400 115 120 10 3.16 0.092
330 345 15 2.87 0.084
--------------------------------------------------------------------------
T-710 45 -45 500 285 290 5 1.15 0.034
295 300 5 1.12 0.033
340 345 5 1.00 0.029
465 370 5 1.26 0.037
--------------------------------------------------------------------------
T-711 45 -45 450 230 250 20 1.48 0.043
350 355 5 1.87 0.055
--------------------------------------------------------------------------
T-712 45 -45 300 190 195 5 1.35 0.039
210 215 5 1.33 0.039
--------------------------------------------------------------------------
T-713 45 -45 300 135 140 5 1.20 0.035
150 165 15 1.08 0.032
--------------------------------------------------------------------------
T-714 45 -45 200 55 60 5 1.19 0.035
--------------------------------------------------------------------------
T-715 45 -45 150 30 35 5 1.13 0.033
--------------------------------------------------------------------------
T-716 45 -45 200 65 110 45 1.56 0.046
--------------------------------------------------------------------------
T-717 45 -45 400 155 160 5 1.16 0.034
--------------------------------------------------------------------------
T-718 45 -45 400 poor recovery no
+1.0
g/t
--------------------------------------------------------------------------
T-719 45 -45 450 165 220 55 3.51 0.103
incl. 175 185 10 10.59 0.309
270 285 15 1.69 0.049
--------------------------------------------------------------------------
T-720 45 -45 450 110 115 5 2.91 0.085
120 125 5 2.58 0.075
--------------------------------------------------------------------------
T-721 45 -45 350 10 15 5 1.30 0.038
25 30 5 3.40 0.099
45 60 15 1.85 0.054
315 320 10 1.31 0.038
345 350 5 1.74 0.051
--------------------------------------------------------------------------
T-722 45 -45 200 0 15 15 7.91 0.231
incl. 5 10 5 21.80 0.637
30 35 5 1.69 0.049
--------------------------------------------------------------------------
T-723 45 -45 350 no
+1.0
g/t
--------------------------------------------------------------------------
T-724 45 -45 300 65 70 5 1.28 0.037
165 170 5 3.74 0.109
--------------------------------------------------------------------------
T-725 45 -45 200 no
+1.0
g/t
--------------------------------------------------------------------------
T-726 45 -45 450 no
+1.0
g/t
--------------------------------------------------------------------------
T-727 not
drilled
--------------------------------------------------------------------------
T-728 45 -45 500 no
+1.0
g/t
--------------------------------------------------------------------------

Note: True thickness 85-95% of interval shown


Drilling at Toiyabe will resume in the Spring of 2008.

Richard Kern (P.Geo) of Reno, Nevada, is the Company's qualified person on the project as required under NI 43-101 and has prepared the technical information contained in this press release. A plan map of the Toiyabe drilling will appear on the Golden Oasis website http://www.goldenoasisexploration.com shortly.

The Company has a rigorous QA/QC program in place which is consistent with NI 43-101 and best industry practices. ALS Chemex Labs of Reno, Nevada is responsible for all of the Company's assaying at Toiyabe.

Golden Oasis is dedicated to the principles of environmentally sound mining practices and believes that environmental stewardship and mining can co-exist. Details on the Company and its properties are 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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