The Board of Laneway Resources Limited advised that the first gold pour took place late at the Georgetown Gold Processing Plant from the processing of high-grade ore mined at the Sherwood deposit within Laneway's 100% owned Agate Creek Gold Mine in North Queensland. The Company has brought the Agate Creek project into production quickly following the entering into of the agreement to acquire the Georgetown Project earlier this year. The refurbishment of the Georgetown Processing Plant has been completed in line with expected timeframes.

The first gold pour achieves a significant milestone for the company as it has transitioned from explorer to developer and now producer. The gold pour comprised a doré bar weighing approximately 3.9 kg of Au:Ag bullion. This bullion bar will now be despatched to the Perth Mint for refining.

Once refined at the Pert Mint, the gold purity of the bar will be determined. This bullion was recovered from gravity methods only from the ore processed to date as the carbon in circuit is still loading with gold and the on-site carbon stripping circuit is awaiting the installation of some further parts to allow stripping of the loaded carbon on site. Contract stripping of the carbon will be undertaken through a third party for the next 6-8 weeks by which time it is expected the parts to finalise the refurbishment of the stripping circuit will have arrived and be installed, including a newly designed ILR (Intensive Leach Reactor).

First ore was fed into the milling circuit on 30th August in line with expectations. Since commencement of ore processing last week, 740 tonnes of ore has been crushed, milled and is being processed. Head grade assays are still pending.

Processing rates are currently approximately 18 tonnes per hour day shift only - a second shift is scheduled to commence later this month allowing 24 hour processing with throughput rates expected to average around 20-22tph. Processing rates will be dependent on feed grades and ongoing metallurgical performance including recovery. Mining operations are progressing well with the expectation a total of around 30,000 tonnes @ 8 g/t Au will be mined from the current pit at Sherwood.

Further pits to be mined after the current Sherwood pit are in the final stages of planning and approvals. The ore is being transported to and then processed through the Georgetown Gold Processing Plant. Utilising an existing processing plant has significantly reduced the capital expenditure and time to first gold production for Laneway and establishes a robust platform for enduring cash flow and subsequent growth.

Laneway anticipates material positive cash flow this year from the high grade gold mining activities at Agate Creek aided by continuing high prices for AUD denominated gold. The expected cash flows will establish a sound financial platform for the Company to progress its project portfolio. Planning is also well advanced for further drilling programs at Agate Creek targeting additional potential high grade zones - including potential extensions of the zones currently being mined.

Additional exploration will also target other identified mineralised zones that have previously only been evaluated for large low grade processing, targeted drilling of the ore zones with the potential to add to the existing Global Resource. Further exploration is also planned on the Georgetown Project tenements. Exploration within Laneway's wider Exploration Tenement area will also be advanced seeking additional small tonnage high grade zoned deposits capable of being treated along with the targeting of additional large tonnage targets to supplement the long term mining and processing of the Agate Creek Resources onsite.