Greenvale Mining Limited announced the following changes to its senior management team as it pursues the next phase of its transition from minerals explorer to producer of carbon offset bitumen and geothermal renewable energy supplier in Queensland. The changes follow the positive recent milestones achieved with the Alpha Torbanite Project and the broader corporate restructuring with the planned divestment of the Georgina IOCG Project to Astro Resources. Mr. Neil Biddle will be stepping down from the role of Managing Director with effect from 31 August 2022, having overseen the Company's initial growth and development including identifying the potential of the Alpha Project and associated geothermal strategy.

Mr. Biddle will remain on the board as a Non-Executive Director and will continue to provide significant strategic input and advice to the Company. Mr. Biddle also remains a substantial shareholder of the Company. Mr. Alan Boys will retire as CFO and Company Secretary effective September 30, 2022.

Mr. Boys had advised the board early this year that he wished to retire following a 38-year career as a Chartered Accountant. The Company announced that Chartered Accountant Mr. Kurt Laney will assume Mr. Boys' role as CFO on his retirement and, in order to assist in the transition, will initially be appointed as Joint Company Secretary with effect from 26 August 2022. Mr. Laney is an experienced Chartered Accountant specialising in the provision of accounting, taxation, and corporate secretarial services.

Mr. Laney is an Associate Director of Vince Fayad and Associates Pty Ltd, based in Sydney. He is currently the joint Company Secretary and CFO of Polymetals Resources Limited and Astro Resources NL. He has also previously provided accounting and taxation services to the Company for a period of approximately four years.