Greenvale Energy : Quarterly Activities & Cashflow Report

ASX Release

16 January 2017

Greenvale Energy Limited

Quarterly Activities Report

December 2016

Greenvale Energy Limited (ASX: GRV) is pleased to provide the following update on its activities for the December 2016 quarter (the "Quarter"):

Existing assets

Overview

The interests in the Company's assets are as follows:

Tenement	Status
Alpha (MDL 330) - (99.99%)	Current to 31 January 2017 (Renewal Pending)
Madre North (EPM 25795)	Current to 21 December 2019
Madre South (EPM 25792)	Current to 2 November 2020

Activities

As outlined in the announcement dated 9 January 2017, during the quarter, GRV has finalised its exploration programme and commenced the preliminary stages of the ground survey to be undertaken in January. To this end, GRV has organised the contract surveyor who has been provided with:

• lease documents for MDL 330 and EPM 25795;

• old topo data and coordinates of all points of observation;

• landholders details; and

• list of the closest Government survey benchmarks to the area that could be used for future survey reference

In addition, a search for updated topography and cadastral information and permission for land access is also underway.

Full details of the above exploration programme can be found in the announcement dated 9 January 2017.

It is also noted that as set out in the above announcement, GRV is expecting imminent renewal by the Queensland Department of Mines f its licence MDL 330.

Strategic direction and acquisitions

During the quarter, the Board continued to actively assessed potential acquisition opportunities in the exploration sector. An option fee of $50,000 was paid for the right to exclusivity of a certain asset and GRV is currently seeking the necessary regulatory approvals. The Company will make a further announcement as soon as information comes to hand.

Contact details

For further information, please contact:

Vince Fayad

Director and Company Secretary Ph: 0414 752 804

E: [e-mail]

Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013

Name of entity

GREENVALE ENERGY LIMITED

ABN Quarter ended ("current quarter")

54 000 743 555

31 December 2016

Consolidated statement of cash flows

Cash flows related to operating activities Receipts from product sales and related debtors Payments for (a) exploration & evaluation development production administration Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid Other (provide details if material) Net Operating Cash Flows		Current quarter $A'000	Year to date (.6months) $A'000
		(39) - - (133) - 15 - - -	(93) - - (258) - 16 - - -
		(157)	(335)
1.8 1.9 1.10 1.11 1.12 1.13	Cash flows related to investing activities Payment for purchases of: prospects equity investments other fixed assets Proceeds from sale of: prospects equity investments other fixed assets Loans to other entities Loans repaid by other entities Other (provide details if material) Net investing cash flows Total operating and investing cash flows (carried forward)	-	-
		-	-
		-	-
		-	-
		-	-
		-	-
		-	-
		-	-
		(45)	(45)
		(45)	(45)
		(202)	(380)

1.13	Total operating and investing cash flows (brought forward)	(202)	(380)
Cash flows related to financing activities	-	-
1.14			Proceeds from issues of shares, options, etc.
1.15	Proceeds from sale of forfeited shares	-	-
1.16	Proceeds from borrowings	-	-
1.17	Repayment of borrowings	-	-
1.18	Dividends paid	-	-
1.19	Other (provide details if material)	-	-
Net financing cash flows	-	-
Net increase (decrease) in cash held	(202)	(380)
1.20	Cash at beginning of quarter/year to date	2,343	2,521
1.21	Exchange rate adjustments to item 1.20	-	-
1.22	Cash at end of quarter	2,141	2,141

Payments to directors of the entity, associates of the directors, related entities of the entity and associates of the related entities

Current quarter

$A'000

1. Aggregate amount of payments to the parties included in item 1.2 48

2. Aggregate amount of loans to the parties included in item 1.10 -

3. Explanation necessary for an understanding of the transactions

1.12 - The other relates to the payment of an exclusivity fee - refer to the Quarterly Activities statement.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

N/A