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 geotechnical diamond 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, part of its Gulf Savannah Region gold portfolio

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 percussion drill-holes in the program were contained in the Company's ASX announcements of 17 December 2021, 4 March 2022, 23 March and 4 July 2022. The drill hole locations, maps and assay results are contained in the figures, tables and appendices following. Drilling results so far confirm 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 ongoing mining activities at Agate Creek. The restart of the Georgetown Gold Processing Plant also remains on track for commencement of processing of ore later this month, providing Laneway with a clear pathway to monetise the expanding high grade Mineral Resource being outlined at Agate Creek

About Agate Creek

The 100% owned Agate Creek Gold Project forms part of Laneway's Gulf Savannah Region gold portfolio. The highly prospective IRGS/epithermal system is located approximately 70km south of Georgetown and 60km west of the 5 Moz Kidston deposit in North Queensland. Haulage and crushing of high grade Agate Creek ore commenced in June with processing through Laneway's Georgetown Gold Processing Plant scheduled to commence in August, 2022.

This announcement is Authorised by the Brad Gordon Managing Director

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.

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