Golden Oasis Exploration Corp.
TSX VENTURE : GOT

Golden Oasis Exploration Corp.

January 21, 2008 09:30 ET

Golden Oasis Receives Remaining Geochemical Results of 2007 Drilling Program at its Toiyabe Project

Assays Include 5 Feet at 0.342 oz/ton Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2008) - Golden Oasis Exploration Corp. (TSX VENTURE:GOT) has received results from the last 14 drill holes of 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 continue to define two gold bearing structures and verify the location of a major northwest trending high angle fault that could be a feeder for the near-surface mineralization as well as postulated targets at depth in more favorable host rocks. Results are listed below:



Toiyabe Summary Drilling Results (+0.5 g/t Au) T-729 to T-752
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Azi-
muth Dip Total Inter- Gold Gold
(Deg- (Deg- Depth From To val Value Value
HOLE # rees) rees) (Feet) (Feet) (Feet) (Feet) (g/t) (oz/ton)
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T-729 45 -45 400 no +0.5 g/t
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T-730 45 -45 550 115 120 5 0.65 0.019
515 525 10 1.62 0.047
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T-731, 732 not drilled
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T-733 45 -45 665 no recovery below 470 no +0.5 g/t
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T-734 to 737 not drilled
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T-738 45 -45 970 375 385 10 0.60 0.018
poor Recovery 395 400 5 0.60 0.018
poor Recovery 775 800 25 0.57 0.017
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T-739 not drilled
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T-740 no +0.5 g/t
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T-741 45 -45 400 275 290 15 0.92 0.027
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T-742 45 -45 300 no +0.5 g/t
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T-743 not drilled
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T-744 45 -45 200 40 45 5 0.60 0.018
90 100 10 0.82 0.024
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T-745 45 -45 450 no +0.5 g/t
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T-746 45 -45 350 235 260 25 0.97 0.028
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T-747 not drilled
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T-748 45 -45 180 hole lost no +1.0 g/t
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T-749 45 -45 350 30 60 30 0.75 0.022
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T-750 45 -45 570 no +1.0 g/t
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T-751 45 -45 300 no +1.0 g/t
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T-752 45 -45 750 215 230 15 4.15 0.121
incl. 220 225 5 11.70 0.342
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Note: True thickness 85-95% of interval shown


After further delineation of near surface, fault hosted gold mineralization a resource estimate will be completed. These structures may be amenable to open pit heap leach mining. However, the first part of the 2008 exploration program will concentrate on drill testing deeper "Pipeline" type targets.

The near-surface gold-bearing structures called 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.

Attempts to drill deeper holes using an RC rig to test favorable host rocks near the West Graben 1 fault failed. The new plan is to drill these targets, which are projected to occur 600 to 1,000 feet below the surface, using a core rig. Beginning in April, 2008 Golden Oasis plans a 20 hole core program with the average hole depth being 1,000 feet. Three additional graben faults will be tested in addition to the West Graben 1 fault.

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

The Company also announces the resignation of Peter Barnes as a director of the Company.

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.

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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