Greenvale Mining Limited announced that the core hole program at the Alpha Torbanite Project in central Queensland is now complete, encompassing 62 drill holes for 2,195m. A total of 284m of 4C core samples were acquired. Results from the core hole program will underpin the completion of geological modelling and test retort work for the Alpha deposit, providing a sufficient level of data to enable Greenvale to proceed directly to a Definitive Feasibility Study (DFS) for the Alpha Project which is expected to be delivered in late 2021. Initial results from the enhanced drill program are in line with expectations and have all but confirmed the excellent credentials of the Alpha torbanite deposit in relation to overall Resource size and quality. The core hole program comprised the acquisition of three cores targeting the Upper Seam and 62 cores targeting the Lower Seam. Eight out of the 62 drillholes were re- drilled due to poor core recovery and/or difficult drilling and ground conditions. Since the last Alpha update, provided in the March Quarterly Activities Report, the company has built upon the previously completed preliminary drill program, tightening grid spacing from 500m by 500m to 250m by 250m around the high-priority torbanite zones. Drillholes were partly cored, with an open hole (non-core) pre-collar from the surface through the overburden strata, with broad diameter (4C 100mm in diameter) coring through the target cannel coal and torbanite intervals, including immediate roof and floor strata. All core hole locations have been geopyshically logged with wireline tools providing down-hole gamma, density and verticality surveys. An optical televiewer was run in selected core holes. The wireline logs allow accurate measurements of both Upper and Lower seam intervals. All core samples are currently in a cold storage facility in the Stratum Reservoir Laboratory in Brisbane and all core hole and open hole sites have been rehabilitated. Detailed logging of the core is underway to confirm lithotypes and analyse sample intervals and will be followed by detailed laboratory testing program, including raw assay analysis, organic petrology and reservoir characterisation of the deposit. The program will also include a Modified Fischer Analysis (MFA) that will provide the company with an idea as to the potential bitumen and synthetic-light crude yields from the torbanite. The MFA process sees a small sample of the torbanite crushed and heated, to a standardised level, in a small aluminium retort. The amount of synthetic- light crude and bitumen derived from the MFA is then used as a point of measure for updating the current geological model, determining volumetrics and for further evaluation and calibration of the company's own retort testing. Independently of the above process, Greenvale is also continuing its own program of retort assessment. Significant advancements have been made at the Company's test retort facility on the Gold Coast and it is anticipated that the company will be ready to update the market of the retorting progress subsequent to the successful completion of the MFA. The completion of the core hole program and the scheduling of the subsequent geological modelling and test work positions the company to deliver a DFS for the Alpha Project in late 2021. The Board and Management have made the decision to move directly to a DFS in favour of the previously mentioned Pre-feasibility Study, as producing a JORC compliant resource is dependent upon the independent test work being conducted by ALS. As the work conducted by ALS will be definitive, the decision has been made to forgo the extensive in-house retort testing related to a PFS, and instead bring forward the definitive ALS testing regime. Furthermore, with drilling at Alpha now complete, a definitive geological model can be produced. This model, combined with the definitive ALS test results, will provide the Company with most of the information required to generate the DFS. Therefore, the Company has concluded that significant time and resources can be saved by proceeding directly to a DFS.