Golden Oasis Exploration Corp. Completes 2007 Drilling Program at its Toiyabe Project

Keywords : Gold | Recovery |

Re: News Release - Tuesday, October 30, 2007
Title: Golden Oasis Completes 2007 Drilling Program at its Toiyabe Project - Two Gold Zones Defined

Vancouver, British Columbia ... Golden Oasis Exploration Corp. (TSX-V: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 45o 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

HOLE #	Azimuth	Dip	Total Depth	From	To	Interval	Gold Value	Gold Value
	(Degrees)	(Degrees)	(Feet)	(Feet)	(Feet)	(Feet)	(g/t)	(oz/ton)

T-708C	45	-60	960	40	45	5	1	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	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	1.2	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	1.3	0.038
				25	30	5	3.4	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	21.8	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 43-101and 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

Signed "Robert Eadie"
Robert Eadie, Chief Executive Officer and Director

For further information, please contact: Robert Eadie
Telephone: 1-604-602-4935 / Toll Free: 1-866-602-4935
Facsimile: 1-604-602-4936 / Website: www.goldenoasis.ca

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

Copyright © 2007 GOLDEN OASIS EXPLORATION CORP. (GOE) All rights reserved. For more information visit our website at http://www.goldenoasisexploration..com/ or send email to info@goldenoasisexploration.com ..

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