Goldnev Resources Inc.
TSX VENTURE : GNZ

Goldnev Resources Inc.

August 01, 2008 18:11 ET

Goldnev Resources Inc. Announces Late Filing of Financial Statements

CALGARY, ALBERTA--(Marketwire - Aug. 1, 2008) - Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX VENTURE:GNZ), announces that, as a result of increased time required to complete its annual audited financial statements and management discussion and analysis year ended for March 31, 2008 (the "Statements"), that there will be a delay of the filing of the Statements as required by National Instrument 51-102 Continuous Disclosure Obligations.

The Corporation made an application to applicable securities regulators requesting a management cease trade order in respect of the late filing of the Statements. The Management Cease Trade Order has been granted which effects only the directors, officers and insiders of the Corporation and will not affect the ability of persons who are not officers, directors or insiders of the Corporation to trade the securities of the Corporation.

The Corporation is delayed in finalizing its financial statements primarily because of a decision to change auditors and the Corporation is working with its new auditors to complete the Statements as expeditiously as possible. Management expects to file the Statements by August 15, 2008 and in any event no later than September 29, 2008, which is the date that is two months after the original filing deadline for the Statements. The securities regulators may impose an issuer Cease Trade Order if the Statements are not filed by September 29, 2008.

Management wishes to confirm to its shareholders and other interested parties that the Corporation is not subject to any insolvency proceeding, there are no issues with regards to finalizing the filing of the Statements and there is no other material information concerning the affairs of the Corporation that has not been generally disclosed, the Corporation fully expects to file Statements prior to the respective deadlines for the filing. Further the Corporation confirms that it intends to satisfy the requirements to provide Default Status Reports so long as it remains in default of its requirements to file the Statements.

The Corporation has filed the attached Notice with the applicable securities regulators.

About Goldnev

Goldnev Resources Inc. is a public energy company focused on conventional and unconventional oil and gas production with assets in northeastern British Columbia, north central Alberta and an oil shale development project in east central Saskatchewan. Goldnev shares trade on the TSX Venture Exchange under the symbol "GNZ."

Anyone wishing to be added to the Corporation's news release recipients list may forward an e-mail request to info@goldnevresources.com.

For further information on Goldnev, please visit our website at www.goldnevresources.com, or email at info@goldnevresources.com.



NOTICE OF DEFAULT
(THE "NOTICE")

FROM: GOLDNEV RESOURCES INC.
(the "Company")
TO: ALBERTA SECURITIES COMMISSION
(the "Principal Regulator")
AND TO: BRITISH COLUMBIA SECURITIES COMMISSION
AND TO: ONTARIO SECURITIES COMMISSION
RE: Request for Management Cease Trade Order to be granted to the Company
by the Principal Regulator


The Company has failed to file its annual audited financial statements for the year ended March 31, 2008 (the "Statements") within the prescribed time limits. The Company is delayed in finalizing its financial statements primarily because it has changed auditors.

The Company expects to file the Statements by August 15, 2008 and in any event no later than September 29, 2008, which is the date that is two months after the original filing deadline for the Statements. The Principal Regulator may impose an issuer Cease Trade Order ("CTO") if the Statements are not filed by September 29, 2008.

Default Status Reports

A CTO may be imposed sooner than September 29, 2008 if the Company fails to file the necessary Default Status Reports on a bi-weekly basis. The Company fully intends to comply with the reporting requirements of the Default Status Report including the disclosure of:



1. Any material changes in the information contained in this Notice;
2. Details of any failure by the Company to fulfil its stated intentions on
this Notice;
3. Any actual or anticipated default of a financial statement filing
requirement subsequent to the disclosure in this Notice; or
4. Any other material information concerning the affairs of the Company that
have not been generally disclosed.


Other Disclosure Requirements

The Company will disclose particulars of any insolvency proceedings it may be subject to during the period of default, including the nature and timing of information that is required to be provided to creditors. At the same time, the Company will file Material Change Reports containing the same information provided to creditors.

The Company will disclose other material information concerning the affairs of the Company that have not been generally disclosed.

The Company understands that Default Status Reports must be filed on a bi-weekly basis, regardless of the fact that no material fact or change may have come to light, or other disclosure requirement, as set out above, may not have occurred during the default period.

Dated the 31st day of July, 2008.

GOLDNEV RESOURCES INC.



By: (signed) "Marc Dame"
Name: Marc Dame
Title: President and Chief Executive Officer


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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