The Board of Laneway Resources Limited advised on the progress of mining activities at the high grade Sherwood deposit within the 100% owned Agate Creek Gold Project in North Queensland. The first blast took place on 22 October 2020 at the Sherwood pit and since then over 60,000 BCM of waste has been removed from the pit and approximately 3,000 tons of high grade ore (grading approximately 6 g/t gold) has been mined and stockpiled on the ROM pad with a further 5,900 tons of low grade ore (grading approximately 2.5 g/t) also mined and stockpiled. There is a further approximately 2,000 tons of high grade ore blasted and ready to be mined. The first of the high grade ore has now been transported and delivered to the Carbon in Leach (CIL) processing plant at the Lorena Gold Mine with almost half of the high grade ore mined to date having already been transported to an interim road train loading point near Georgetown. The pit design and mine plan allows for two stages of cut back which has been preferred in order to optimise ore timing and maximise near term cash flow. The two combined cut back designs as per illustration below will allow the economic extraction in this mining campaign of 42,800 tons at 6.5g/t for approximately 8,950 oz of contained gold at an overall strip ratio of approximately 11:1. Laneway has a Toll Treatment Agreement with Lorena Gold Mine Pty Ltd. to process ore at the operational CIL gold processing plant. Laneway's ore was originally scheduled into Lorena's processing plans during November, however with Laneway running slightly behind its original mining schedule, other ore has now been scheduled for processing in advance of Laneway's ore. Due to these changes in the scheduling of different ore sources being processed at Lorena, minor plant reconfigurations that will be necessary to process Laneway's ore, and also allowing for the planned plant shutdown for the Christmas break, processing of Laneway's ore is now scheduled begin in the first week of January. Laneway anticipates the Lorena plant will yield >90% gold recoveries given its configuration with the added benefit of robust processing rates (around 35 tons per hour) which means processing of the initial batch should be completed in approximately 3-4 weeks once processing commences. Toll Treatment including crushing has been set as a fixed price per ton of ore processed. Whilst the agreement entered into with Lorena Gold Mine will allow for the subsequent batch of ore in this mining campaign to also be processed through their plant, Laneway is continuing to progress other processing plant options which may be utilised longer term for the processing of high grade ore from Agate Creek, including for the second batch of ore from this mining campaign. This is aimed to achieve lower transportation and processing costs and further enhance margins on production. Beyond this current mining campaign, the potential for further near term high grade mining has also been identified with one of the larger Whittle runs generating a much larger pit shell containing 120,000 t of high grade material at 5.7 g/t Au for 22,000 oz Au, inclusive of the current 43,000t planned for the current campaign. Mining of this larger pit shell will require amendments to the currently granted Environmental Authority conditions associated with Mining Lease 100030. Background environmental studies are being undertaken currently to allow for lodgement of the necessary EA amendments, to allow this scale of mining in once approvals are granted. Other activities also continue to be progressed with a view towards the longer-term, large-scale development of the project. Infrastructure upgrades, monitoring, modelling and procedures have also been implemented to allow for the collection of baseline environmental data and studies, which will be utilised as part of the expansion of on-site activities as Laneway continues the development and planning for large scale mining activities, including on-site processing at the Agate Creek Project. Given the current high gold price it is expected more of the current high grade Mineral Resource at Sherwood may be able to be incorporated into economic pit shells for future mining along with the expectation that further high grade Mineral Resources can be identified through carefully targeted future exploration drilling following the high grade Zones to depth. The long-term aim for the Agate Creek mine is for conventional on-site processing of the larger commercial grade Mineral Resource of 471,000 ounces of gold that has been defined. Additional potential toll treatment of high-grade ore will continue to be targeted in the shorter term to provide additional cash flow to fund significant further exploration and development for the company whilst minimising the requirement for equity capital raisings.