Greenvale Energy Raises $3.25 Million to Accelerate Uranium Exploration at Thunderball Project

Greenvale's Uranium Portfolio and Strategic Focus in the Northern Territory

Greenvale Energy Limited, listed on the ASX, is dedicated to developing a portfolio of projects that support clean energy and critical infrastructure. The company concentrates on expanding its land holdings in the Pine Creek region of the Northern Territory, a globally significant jurisdiction for uranium exploration and development. This strategic focus places Greenvale within one of Australia's leading uranium exploration areas, leveraging geological expertise across multiple projects.

In addition to its Northern Territory assets, Greenvale owns the advanced, high-grade Oasis Uranium Project in Queensland, showcasing a diversified portfolio across several Australian states. The company’s pipeline also includes strategically important new-energy projects like the Alpha Project. This multi-project strategy aims to generate long-term shareholder value through exploration-driven discoveries and resource growth, aligning with the global demand for sustainable, low-emission energy solutions.

Details of the $3.25 Million Placement and Institutional Investor Interest

The $3.25 million placement was substantially oversubscribed, prompting an increase from the initial $3 million target due to strong demand from new and existing institutional, sophisticated, and professional investors. This heightened interest underscores growing market confidence in Greenvale’s asset quality and exploration potential. Alpine Capital Partners served as lead manager, overseeing the placement and investor engagement. To ensure equitable allocation, scaling was applied to most bids among investors.

Shares are issued at $0.033 each, representing a 13.2% discount to the last traded price of $0.038, an 18.7% discount to the 5-day VWAP of $0.0406, and a 16.6% discount to the 30-day VWAP of $0.0396. A total of 98,484,848 shares will be issued, including 39,211,290 under ASX Listing Rule 7.1 and 59,273,558 under Listing Rule 7.1A. These shares rank equally with existing fully paid ordinary shares from issuance. Each share includes a free attaching unlisted option on a 1:2 basis exercisable at $0.07, expiring two years after issue.

Director Participation and Shareholder Approval Process

Greenvale’s directors have committed to subscribe for an additional 3,030,303 shares at $0.033 each, raising $100,000, subject to shareholder approval. This participation reflects management’s confidence in the company’s strategic direction and funded exploration programs. A General Meeting will be convened to obtain shareholder consent for both the director subscription and the issue of options to placement investors.

The indicative timetable includes settlement of the main placement shares on 31 July 2026 and allotment on 3 August 2026. The General Meeting to approve director participation and option issuance will be held promptly after the announcement, with settlement of director shares and options occurring post-approval. This timeline provides transparency on capital raise completion and upcoming approval milestones.

Exploration Program and Drill Target Development at Thunderball Project

The primary use of placement funds is the Thunderball Uranium Project in the Northern Territory. Fieldwork commenced in mid-July 2026, focusing on mapping and sampling all outcropping geological units and investigating airborne radiometric uranium anomalies using ground-based geophysical surveys. This systematic approach aims to generate high-quality drill targets across the project area.

Managing Director Alex Cheeseman emphasized the goal of converting radiometric and geological data into drill-ready targets, advancing exploration hypotheses. The capital raise will support accelerating this target development, moving the project toward drilling and validating the exploration model within the Thunderball tenure.

Progress on Pine Creek Acquisition and Northern Territory Expansion

Greenvale is advancing administrative steps for the recent acquisition of the Pine Creek Uranium Project from Patronus Resources (ASX:PTN). This acquisition significantly expands Greenvale’s land holdings in the world-class Pine Creek region, enhancing opportunities for discovery across a larger prospective ground portfolio.

Placement proceeds will support both the Pine Creek acquisition and accelerated Thunderball exploration. Managing Director Alex Cheeseman noted parallel progress on acquisition administration and field activities, with the combined land holdings and capital resources enhancing exploration synergies across Greenvale’s Northern Territory assets. This consolidation aims to build a more strategic asset base within one of Australia’s most prospective uranium regions.

Advancement of Alpha Project Test Program and Product Development

Beyond uranium, Greenvale is advancing Test Program 7 for the Alpha Project, a strategically important new-energy initiative. Third-party contractors are conducting product refinement and processing work, indicating active development. The Alpha Project diversifies Greenvale’s portfolio into emerging energy and critical materials sectors.

The company continues to progress the Alpha Project alongside core uranium exploration and Pine Creek acquisition efforts. This multi-project approach reflects management’s strategy to balance development initiatives while focusing capital on priority uranium exploration. Although specific timelines or outcomes for Test Program 7 were not disclosed, progress suggests movement toward validation or commercialization milestones.

Capital Deployment Strategy and Financial Strengthening

Proceeds from the placement will fund multiple strategic objectives, with accelerated uranium exploration at Thunderball as the primary focus. Additionally, the capital raise will strengthen Greenvale’s balance sheet and support advancement of its broader project portfolio. This balanced allocation strategy aims to fund near-term exploration while maintaining financial flexibility for future development or acquisitions.

The $3.25 million placement combined with $100,000 from director participation provides approximately $3.35 million in gross proceeds before costs. This funding supports multiple exploration seasons, including mapping, sampling, geophysical surveys, and drill program initiation. While specific budget details were not disclosed, funding priorities emphasize Thunderball acceleration and broader portfolio development.

Institutional Investor Support and Shareholder Base Growth

Managing Director Alex Cheeseman highlighted the addition of new institutional investors through the placement, reflecting growing recognition of Greenvale’s asset quality. This shift toward institutional shareholders generally enhances financial capacity, investment horizons, and market liquidity.

The strong institutional demand and resulting oversubscription demonstrate market confidence in management and project potential. Cheeseman stated the successful capital raise marks a key milestone, providing a strong financial foundation for Greenvale’s growth phase. The expanded institutional base is expected to strengthen market positioning and facilitate future capital or strategic partnerships.

Option Features and Two-Year Exercise Period

Each placement share includes a free attaching unlisted option on a 1:2 basis, exercisable at $0.07, approximately 112% above the placement price of $0.033. Options expire two years from issue, offering holders a two-year exercise window. As unlisted options, they will not trade on the ASX but can be exercised to acquire shares at the strike price during the term.

Shareholder approval for option issuance is required under ASX Listing Rules and will be sought at a General Meeting following the announcement. These option terms provide placement investors with leveraged upside potential if Greenvale’s share price rises materially above the placement price within two years. The announcement references Appendix A for full option terms.

Market Pricing Context and Trading Halt Details

The placement price of $0.033 reflects customary discounts for growth-stage exploration equity raises: 13.2% below the last traded price of $0.038, 18.7% below the 5-day VWAP of $0.0406, and 16.6% below the 30-day VWAP of $0.0396. These discounts provide price certainty for placement investors while balancing shareholder interests through anticipated exploration value accretion.

The company implemented a trading halt prior to the placement announcement, which was lifted on 28 July 2026, the announcement date. Settlement of placement shares is scheduled for 31 July 2026. Market reactions to the capital raise and enhanced exploration funding visibility may influence share price movements following the announcement.