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Goldnev Acquires 100% of Pasquia Hills Oil Shale Permit

April 8, 2010

CALGARY, April 8 /PRNewswire-FirstCall/ – Goldnev Resources Inc. (“Goldnev” or the “Corporation”) (TSXV: GNZ) is pleased to announce that it now owns a total of a 100% working interest in permit PS00243 (the “northern permit”). With today’s announcement, the Corporation has completed the acquisition of a further 66.67% working interest in addition to its previously earned 33.33% working interest in the northern oil shale permits. The northern oil shale leases encompass a total of 86,533 acres located in the Pasquia Hills region, Saskatchewan.

Goldnev’s oil shale properties comprise of two contiguous oil shale permits totaling 155,443 acres (234 sections) of oil shale rights divided north (“PS00243) and south (“PS00242) and located in the Pasquia Hills oil shale region in east central Saskatchewan. Goldnev has previously earned a non-dilutive 33.33% working interest on both the southern and northern permits by investing $1,500,000 on a core hole drilling exploration and development program that focused primarily on the southern portion of its oil shale permits that resulted in its previously announced contingent resources report of gross estimates of 1.8784 billion barrels of oil distillate. The Corporation is in the process of preparing a pre-feasibility study to confirm the commerciality and/or the conditions required for commerciality of these identified oil shale resources located on its southern permit.

Goldnev is pleased to have acquired such a large area of potential unexplored oil shale prospects and plans to commit further resources towards a comprehensive oil shale core hole drilling and exploration program on its 100% acquired northern permit in the fall of 2010.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

    About Goldnev
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Goldnev Resources Inc. is a public energy company focused on conventional and unconventional oil and gas production with assets in northeastern British Columbia, southwestern Alberta and an oil shale development project in east central Saskatchewan. Goldnev shares trade on the TSX Venture Exchange under the symbol “GNZ.”

Anyone wishing to be added to the Corporation’s news release recipients list may forward an e-mail request to info@goldnevresources.com.

SOURCE Goldnev Resources Inc.


Source: newswire



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