Golden Oasis Exploration Corp.
TSX VENTURE : GOT

Golden Oasis Exploration Corp.

July 17, 2007 10:00 ET

Golden Oasis Completes Initial Core Drilling at its Toiyabe Project Assays Include 5 Feet at 0.977 oz/ton Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - Golden Oasis Exploration Corp. (TSX VENTURE:GOT) has completed an 8 core hole angle drilling program at its Toiyabe Property located in Lander County, Nevada. Drilling totaled 2,932 feet and results have been received for 7 of the 8 holes. Using oriented core the program provided the attitude of the gold bearing Courtney "A" Fault and detailed stratigraphy to a depth of 800 feet below the surface.

Drill holes T-701C through T-704C tested the A fault along strike for accurate control on attitude and holes 705C through 708C began following the mineralized structure down dip. Gold occurs within a N43 degrees W trending fault zone that dips 40 degrees southwest near surface and steepens to over 65 degrees at depth. Except for drill hole T-704, which drilled over the mineralization (no recovery in first 6 feet), all holes had +6.50 g/t (0.2 oz/ton) gold values. Of the 7 holes with results 4 have +10 g/t (+0.3 oz/ton) gold values with T-706 being especially notable. This hole contained 15 feet of 10.9 g/t (0.32 oz/ton) gold plus an additional 10 feet of 26.6 g/t (0.78 oz/ton) gold. Results for all assays over 1.0 g/t are shown in the table below for the 7 holes received.



Toiyabe Summary Drilling Results
--------------------------------------------------------------------------
Azi-
muth Dip Total Gold
(Degr (Degr Depth From To Interval Gold Value Value
Hole # ees) ees) (Feet) (Feet) (Feet) (Feet) (g/t) (oz/ton)
--------------------------------------------------------------------------
T-701-C 0 -45 155 15.0 25.0 10.0 8.84 0.258
including 15.0 20.0 5.0 13.05 0.381
35.0 47.5 12.5 1.35 0.039
47.5 53.0 5.5 14.83 0.433
including 47.5 50.0 2.5 26.20 0.765
--------------------------------------------------------------------------
T-702-C 45 -45 395 35.0 40.0 5.0 10.39 0.303
40.0 45.0 5.0 1.32 0.039
--------------------------------------------------------------------------
T-703-C 0 -45 372 150.0 160.0 10.0 2.22 0.065
160.0 165.0 5.0 6.59 0.192
165.0 170.0 5.0 1.39 0.041
190.0 195.0 5.0 1.06 0.031
225.0 230.0 5.0 1.08 0.032
--------------------------------------------------------------------------
T-704-C 45 -45 200 6.0 6.8 0.8 1.03 0.030
--------------------------------------------------------------------------
T-705-C 45 -45 150 100.0 110.0 10.0 11.48 0.335
including 105.0 110.0 5.0 16.20 0.473
--------------------------------------------------------------------------
T-706-C 45 -45 300 170.0 180.0 10.0 1.75 0.051
180.0 195.0 15.0 10.92 0.319
including 180.0 190.0 10.0 13.68 0.399
200.0 205.0 5.0 1.17 0.034
235.0 245.0 10.0 26.60 0.777
including 240.0 245.0 5.0 33.45 0.977
245.0 250.0 5.0 1.63 0.048
--------------------------------------------------------------------------
T-707-C 45 -45 400 230.0 232.0 2.0 2.11 0.062
232.0 235.0 3.0 7.77 0.227
--------------------------------------------------------------------------
Note: True thickness 85-95% of interval shown


Results are pending for T-708C, a 960 feet long core hole collared 800 feet southwest of T-701C and drilled at a -60 degrees angle to the northeast. The hole intersected what may be lower plate limestone.

RC drilling has commenced to further test the Courtney "A" and "B" faults down dip and along strike. This program has a planned total footage of 18,000 feet in 40 drill holes. Drilling will be completed in the fall.

Richard Kern (P.Geo) of Reno, Nevada, is the Company's qualified person on the project as required under National Instrument I 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. 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.

Contact Information

  • Golden Oasis Exploration Corp.
    Robert Eadie
    Chief Executive Officer and Director
    (604) 602-4935 or Toll Free: 1-866-602-4935
    (604) 602-4936 (FAX)
    Email: talk@goldenoasis.ca
    Website: www.goldenoasis.ca