GOLDNEV RESOURCES INC. ANNOUNCES HATCH LTD. APPOINTED TO UNDERTAKE OIL SHALE TO LIQUIDS PLANT PRE-FEASIBILITY STUDY

CALGARY, Sept. 14 /PRNewswire-FirstCall/ - Goldnev Resources Inc. ("Goldnev" or the "Corporation") (TSX Venture Exchange - "GNZ"), announced today that it has appointed Hatch Ltd. ("Hatch") to undertake and complete a pre-feasibility study ("PFS") for the development of a Shale to Liquids Plant ("STL") at the Corporation's Pasquia Hills, Saskatchewan, oil shale property.

The PFS is one of the studies necessary to explore the manner in which the Pasquia Hills oil shale property should be developed and this study is estimated to cost $600,000 and is expected to be completed by February 2011. The PFS will incorporate the results of the Corporation's recently completed core hole drilling exploration and development program, as previously announced. This program resulted in an internal gross contingent resources estimate of 1.878 billion barrels of oil distillate over an identified oil shale deposit encompassing 38,223 acres. The PFS will assess the applicable mining, extraction and refining methods and provide details on equipment, capital and operating costs as part of a detailed mining and production scope analysis to confirm commerciality and/or the conditions required for commerciality of these identified oil shale resources.

Hatch has been contracted to undertake the PFS and is a world leader in Consulting, Engineering, Procurement and Construction Management and is active in the principal divisions of Mining and Metallurgy, Energy and Infrastructure. The company comprises over 8,000 professional employees and provides engineering expertise worldwide. Hatch has extensive expertise in the design and engineering of oil shale mining and processing facilities and has completed several oil shale mining, plant construction and feasibility studies in the United States, Jordan, Australia and China.

Marc Dame, President of Goldnev, said, "The appointment of Hatch, to undertake the Corporation's STL mining and processing plant pre-feasibility study is an important milestone for the continued development of the Pasquia Hills oil shale project. This study will provide the details required to determine the commerciality of the project and ultimately the value of the resource.

Goldnev's oil shale properties comprise of two contiguous oil shale permits totaling 155,443 acres of oil shale rights divided into the northern permit ("PS00243") and the southern permit ("PS00242") and located in the Pasquia Hills oil shale region in east central Saskatchewan. Goldnev owns a 33.33% working interest in the southern permit ("PS00243") under which the identified oil shale deposit is located. The Corporation also owns a 100% working interest in the northern permit ("PS00242") which requires further exploration.

Neither the TSX Venture Exchange, nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts 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 [email protected].

SOURCE Goldnev Resources Inc.

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