For personal use only

Level 21, 110 Mary St, Brisbane QLD 4000

GPO Box 1164, Brisbane QLD 4001

Telephone: 07 3108 3500

Email: admin@lanewayresources.com.au

www.lanewayresources.com.au

ASX ANNOUNCEMENT

5 July 2022

High Grade Gold Drilling Results Continue at Agate Creek

The Board of Laneway Resources Limited ("Laneway" or "the Company") (ASX:LNY) is pleased to advise of continuing high grade gold assay results from the drilling program completed earlier this year at the high grade Sherwood and Sherwood West deposits within Laneway's 100% owned Agate Creek Gold Project in North Queensland.

Highlights

  • Assay results have now been received for the remaining RC drill holes, primarily from the geotechnical drilling.
  • Significant drill intercepts at the Sherwood deposit include:
  • CCGC354
      1. 1m @ 9.40 g/t Au from 43m
    • CCGC355
      1. 1m @ 4.07 g/t Au from 2m
    • CCGC356
      1. 1m @ 6.37 g/t Au from 64m
      1. 1m @ 34.40 g/t Au from 116m
  • Significant drill intercepts at the Sherwood West deposit include:
    • CCGC339
      1. 7.2m @ 5.97 g/t Au from 14.4m (including 2.4m @ 10.55 g/t Au from 18m)
    • CCGC340
      1. 8.4m @ 4.46 g/t Au from 12m (including 1.2m @ 12.2 g/t Au from 13.2m).
    • CCGC345
      1. 10.8m @ 2.74 g/t Au from (including 1.2m @ 10.25g/t Au from 14.4m)
  • These are the last of the drilling results from the recent RC drilling program, primarily utilised for geotechnical engineering design drilling.
  • The diamond drilling program that was also completed was designed primarily to assess geotechnical constraints for pit designs and also targeted additional deeper Rhyolite zones at Sherwood. This diamond drilling program still has assay results pending.

The drilling program followed the completion of the Multi-Element study, and was designed to confirm the interpreted intrusive related gold system (IRGS) potential and targeted:

  • Interpreted extensions and repetitions at Sherwood & Sherwood West; and
  • The deeper interpreted high grade gold zones below Sherwood.

Further details of the results of the Multi-element study are contained in the Company's ASX announcement of 18 November 2021. Assay results from the first 38 holes in the program were contained in the Company's ASX announcements of 17 December 2021, 4 March 2022 and 23 March 2022.

For personal use only

The drill hole location co-ordinates and significant assay results are contained in the tables in the attached appendices 1,2 & 3 below and the location of the drilled holes is also shown in the Figures 1, 2 & 3 below.

Drilling results so far are confirming extensions of the previously mined veins along with previously identified deeper almost parallel systems which also host narrow high grade gold zones.

Laneway Managing Director, Brad Gordon commented:

These results are being incorporated into pit designs for the current mining activities at Agate Creek and with the progress being made towards the restart of the Georgetown Gold Processing Plant, Laneway has a clear pathway to monetise the expanding high grade Mineral Resource being outlined at Agate Creek.

This announcement is Authorised by the Board of Directors

For further information contact:

Brad Gordon

Managing Director, Laneway Resources

Phone: (07) 3108 3500

E-Mail:admin@lanewayresources.com.au

Competent Persons Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr Scott Hall who is a member of the Australian Institute of Mining and Metallurgy. Mr Hall is a full-time employee of Laneway Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.' Mr Hall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

2

For personal use only

APPENDIX 1: NEW SIGNIFICANT DRILL INTERCEPTS OVER 2 g/t GOLD

Hole ID

From Depth

To Depth

Au g/t

Overall Interval

CCGC311

97

98

2.33

1m @ 2.33 g/t Au

CCGC312

30

31

2.08

1m @ 2.08 g/t Au

CCGC320

51

52

4.29

1m @ 3.30 g/t Au

CCGC320

52

53

2.31

CCGC336

49

50

4.55

1m @ 4.55 g/t Au

CCGC348

15

16

5.05

1m @ 5.05 g/t Au

CCGC339

0

1.2

3.15

1.2m @ 3.15 g/t Au

CCGC339

14.4

15.6

3.88

CCGC339

15.6

16.8

6.27

CCGC339

16.8

18

1.39

7.2m @ 5.97 g/t Au

CCGC339

18

19.2

10.70

CCGC339

19.2

20.4

10.40

CCGC339

20.4

21.6

3.15

CCGC340

12

13.2

3.23

CCGC340

13.2

14.4

12.20

CCGC340

14.4

15.6

2.45

CCGC340

15.6

16.8

2.64

8.4m @ 4.46 g/t Au

CCGC342

15.6

16.8

6.13

CCGC342

16.8

18

2.73

CCGC342

18

19.2

2.97

CCGC342

19.2

20.4

3.34

CCGC344

7.2

8.4

2.12

1.2m @ 2.12 g/t Au

CCGC345

10.8

12

3.23

CCGC345

12

13.2

0.49

CCGC345

13.2

14.4

0.35

CCGC345

14.4

15.6

10.25

10.8m @ 2.74 g/t Au

CCGC345

15.6

16.8

0.91

CCGC345

16.8

18

0.22

CCGC345

18

19.2

2.24

CCGC345

19.2

20.4

4.74

CCGC345

20.4

21.6

2.21

CCGC347

8.4

9.6

2.39

1m @ 2.39 g/t Au

CCGC354

43

44

9.40

1m @ 9.40 g/t Au

CCGC355

2

3

4.07

1m @ 4.07 g/t Au

CCGC356

64

65

6.37

1m @ 6.37 g/t Au

CCGC356

116

117

34.40

1m @ 34.40 g/t Au

•

Results shown are as represented as drilled intervals not true widths,

•

CCGCXXX drill holes location coordinates can be seen in Appendix 3 & Figures 1-3,

3

For personal use only

APPENDIX 2 PREVIOUSLY ANNOUNCED SIGNIFICANT DRILL RESULTS OVER 2 g/t GOLD

  • Assays have been previously reported ASX announcement 23 March 2022

Hole ID

From Depth

To Depth

Interval

Au (g/t)

Overall Interval

(m)

CCGC306

42

43

1

12.45

2m @ 8.31 g/t Au

CCGC306

43

44

1

4.16

CCGC311

66

67

1

3.82

1m @ 3.82 g/t Au

CCGC312A

30

31

1

2.08

1m @ 2.08 g/t Au

CCGC312B

67

68

1

2.92

1m @ 2.92 g/t Au

CCGC313

39

40

1

2.99

1m @ 2.99 g/t Au

CCGC314

19

20

1

6.31

2m @ 5.06 g/t Au

CCGC314

20

21

1

3.80

CCGC319

34

35

1

2.21

1m @ 2.21 g/t Au

CCGC322

17

18

1

2.67

CCGC322

18

19

1

6.05

3m @ 3.68 g/t Au

CCGC322

19

20

1

2.32

CCGC323

0

1

1

1.91

CCGC323

1

2

1

5.36

CCGC323

2

3

1

2.99

CCGC323

3

4

1

10.65

8m @ 4.62 g/t Au

CCGC323

4

5

1

5.00

CCGC323

5

6

1

6.01

CCGC323

6

7

1

1.28

CCGC323

7

8

1

3.72

CCGC325

4

5

1

6.16

1m @ 6.16 g/t Au

CCGC327

7

8

1

2.70

1m @ 2.70 g/t Au

CCGC328

9

10

1

2.12

1m @ 2.12 g/t Au

CCGC330A

1

2

1

2.24

1m @ 2.24 g/t Au

CCGC330B

31

32

1

4.55

1m @ 4.55 g/t Au

CCGC330C

133

134

1

3.52

1m @ 3.52 g/t Au

CCGC331A

21

22

1

3.02

1m @ 3.02 g/t Au

CCGC331B

43

44

1

4.35

1m @ 4.35 g/t Au

CCGC331C

79

80

1

20.30

1m @ 20.30 g/t Au

CCGC331C

80

81

1

5.10

2m @ 3.55 g/t Au

CCGC331C

81

82

1

2.00

CCGC331D

91

92

1

3.17

1m @ 3.17 g/t Au

CCGC331E

97

98

1

2.75

1m @ 2.75 g/t Au

CCGC331F

112

113

1

2.86

1m @ 2.86 g/t Au

CCGC334A

4

5

1

2.04

1m @ 2.04 g/t Au

CCGC334B

14

15

1

11.35

CCGC334B

15

16

1

6.72

CCGC334B

16

17

1

5.71

6m @ 5.37 g/t Au

CCGC334B

17

18

1

5.03

CCGC334B

18

19

1

1.90

CCGC334B

19

20

1

1.50

•

Assays have been previously reported ASX announcement 23 March 2022

•

•

Results shown are as represented as drilled intervals not true widths,

suffixes of A, B, C do not portray separate drill-holes purely separated intervals within the same drill-

hole CCGCXXX whose location coordinates can be seen in Appendix 3 & Figures 1-3,

4

For personal use only

  • Assays have been previously reported ASX announcement 4 March 2022

Hole ID

From Depth

To Depth

Au (g/t)

Overall Interval

CCGC309A

64

65

16.20

1m @ 16.2 g/t Au

CCGC309B

97

98

2.32

1m @ 2.32 g/t Au

CCGC310A

58

59

3.41

1m @ 3.41 g/t Au

CCGC310B

66

67

2.25

1m @ 2.25 g/t Au

CCGC311

64

65

3.51

CCGC311

65

66

32.80

CCGC311

66

67

3.82

6m @ 8.43 g/t Au

CCGC311

67

68

5.51

CCGC311

68

69

1.72

CCGC311

69

70

3.23

CCGC314A

0

24

Pending

1m @ 3.37 g/t Au

CCGC314A

24

25

3.37

Interval data may change as some assays still Pending

CCGC314B

50

51

1.97

CCGC314B

51

52

1.80

4m @ 1.99 g/t Au

CCGC314B

52

53

2.22

CCGC314B

53

54

1.95

CCGC314C

57

58

2.06

1m @ 2.06 g/t Au

CCGC314D

95

96

4.35

3m @2.72 g/t Au

CCGC314D

96

97

1.05

CCGC314D

97

98

2.77

CCGC315

25

26

17.45

3m @ 7.95 g/t Au

CCGC315

26

27

3.71

CCGC315

27

28

2.68

CCGC316

20

21

4.39

2m @ 2.07 g/t Au

CCGC316

21

22

1.08

CCGC317

5

6

2.69

CCGC317

6

7

3.64

CCGC317

7

8

2.57

CCGC317

8

9

4.43

8m @4.21 g/t Au

CCGC317

9

10

9.14

CCGC317

10

11

4.03

CCGC317

11

12

5.51

CCGC317

12

13

1.69

CCGC318

6

7

2.07

1m @ 2.07 g/t Au

CCGC319

28

29

15.65

2m @ 9.69 g/t Au

CCGC319

29

30

3.73

CCGC332

25

26

1.36

CCGC348**

14

15

1.00

2m @ 3.08 g/t Au

CCGC348**

15

16

5.05

CCGC349A**

11

12

9.68

1m @ 9.68 g/t Au

CCGC349B**

36

37

2.38

CCGC349B**

37

38

1.03

CCGC349B**

38

39

1.68

CCGC349B**

39

40

4.81

CCGC349B**

40

41

18.70

CCGC349B**

41

42

5.73

CCGC349B**

42

43

2.09

14m @ 5.84 g/t Au

CCGC349B**

43

44

1.34

CCGC349B**

44

45

0.68

CCGC349B**

45

46

33.90

CCGC349B**

46

47

2.44

CCGC349B**

47

48

1.40

not true widths,

•

Results shown are

as represented as drilled

intervals

CCGC349B**

48

49

1.51

CCGC349B**

49

50

4.00

•

suffixes of A, B, C

do not portray separate drill-holes purely separated intervals within the same drill-

•

hole CCGCXXX whose location coordinates can be seen in Appendix 3 & Figures 1-3,

•

only results above 2g/t have been shown unless dilution as part of a larger intercept

**Assays have been previously reported ASX announcement 17 December 2021

5

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Laneway Resources Limited published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2022 00:02:00 UTC.