The Board of Directors of Laneway Resources Limited announced the commencement of the first phase of the refurbishment of the Georgetown Gold Processing Plant in North Queensland. Site works and electrical and mechanical refurbishment programs at the Processing Plant at Georgetown have commenced, as part of the estimated $2.5 million refurbishment and restart works program being undertaken by Laneway to allow commencement of the processing of ore through the plant in the coming months. The plant was previously fully refurbished in 2010 and has only been used briefly since then including for the processing of a metallurgical sample for Laneway in early 2014 which achieved good gold recoveries.

In addition to the processing plant refurbishment works, re-establishment of associated site infrastructure including water, tailings, offices, maintenance stores, workshops and communications are underway and advancing well. It is currently anticipated the refurbishment and restart program to enable processing of ore will take around 12 weeks to complete at which time high grade ore from Agate Creek, which was pre-stripped during 2021, will be mined ready to be processed. The next phase of drilling and blasting at Agate Creek is expected to commence during mid-May with earthmovers to mobilise soon after.

Photos of the processing plant are attached. The restart of the Georgetown Gold Processing Plant will enable Laneway to take control over its gold production future, generate material free cashflow and begin building the platform for a regional gold processing centre.