G11 RESOURCES LIMITED — Capital/Financing Update 2011

Jan 23, 2011

ASX and Media Release

24 January 2011

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Diamond drilling of high priority targets completed at Lawson Gold Project, WA

• Diamond drilling completed at Lawsons & Tyrells gold prospects

• Mineralisation intersected includes altered, quartz veined & brecciated volcanoclastic & feldspar porphyry intrusive rocks

Fast Facts

Share Code ASX:LSN Shares on Issue 24.9 million Options 0.9 million Fully Diluted 25.8 million Debt nil Market Cap A$6 million

• Assay results pending & due in early February.

Lawson Gold (ASX:LSN) completed a 3 hole diamond core drilling program during December 2010 at the Lawson Gold Project approximately 20km north of Kanowna near Kalgoorlie, Western Australia.

This diamond core drilling program (342 metres) was aimed at defining the geology and mineralisation style/s associated with highly anomalous gold values from RAB & RC drilling conducted by previous exploration companies[1] at the Lawsons and Tyrells Prospects. The diamond core holes were located immediately adjacent to previous drill holes, thereby attempting to “twin or replicate” the down hole information and provide a measure of quality control.

Directors & Management

David Hillier Chairman David Turvey Director Peter Watson N E Director Donald Stephens Co. Secretary

Top Shareholders

JP Morgan Nominees 13.6% John Nyvlt 10.0% First Samuel 7.0% Ferraus Limited 6.0%

Summary of the diamond core drilling as follows: (refer Figures 1-3)

Diamond Drill Hole	Comments on Mineralisation (intersected in diamond drill hole)	Previous RAB/RC Drill Hole & Gold Intersections1	Previous RAB/RC Drill Hole & Gold Intersections1
LWD001	Altered metasediment & minor quartz veining	ESR054	5m @ 18.2g/t Au
LWD002	Strongly altered, quartz veined & mineralised volcanoclastics & feldspar porphyry intrusive	ESR108	7m @ 2.7g/t Au 8m @ 4.4g/t Au
LWD003	Sheared & carbonate altered ultramafic rocks	GINB758	4m @ 8.6g/t Au

The mineralisation styles intersected by Lawson Gold in drill holes LWD002 and LWD003 are similar to gold mineralisation at Gordon –Sirdar and Mulgarrie, historic mining centres located 7.5km southeast and ~ 18km west of the Lawson Gold Project respectively. Mineralisation at the “world-class” Kanowna Belle gold mine is largely hosted by volcanoclastic rocks.

Detailed geological logging and sampling of the diamond drill core has been completed. Samples have been submitted to the laboratory for gold and multielement analysis with results anticipated in early February. These results will provide important quality control on previous information and assist with planning the ongoing exploration program.

Project Location

*45 km NE of Kalgoorlie

• *20 km N of Kanowna

• *4 km W of Silver Swan

• 25 km from Paddington

Lawson Gold Project

• Land package 48sqkm

• Diamond drilling completed at Lawsons & Tyrells Prospects – assay results pending

• Planned March quarter: Mapping & soil sampling Geophysics Interpretation Drill target prioritisation RAB drilling, possibly April

Further Information

David Hillier +61 8 8418 8541 David Turvey +61 8 8418 8568

Simon Jemison +61 3 9223 2465 c/. Collins St Media

1 Previous gold exploration conducted by Mt Kersey Mining & NiQuest Limited and reported in the Lawson Gold Prospectus dated 28 June 2010.

About Lawson Gold Limited:

Kanowna district-focused Lawson Gold listed via a $4.7 million IPO in August 2010 with plans to advance gold exploration on tenements located approximately 20kms north of Barrick Gold’s 280,000 oz pa Kanowna Belle gold mine.

The Lawson Gold Project area covers an 8km strike length of Archaean ultramafic, mafic, intermediate volcanoclastic and sedimentary rock stratigraphy. Current work is focused on systematic gold exploration of all tenements in order to rapidly evaluate the potential of the project area to contain a significant gold deposit* (nominally >500,000 ounces). Exploration methods include surface soil sampling, geological mapping and sampling , RAB drilling and RC & Diamond drilling.

Annual exploration budget is minimum $800,000 to maximum $1,400,000 during the 2010-2011 field season and, based on success, an exploration budget of minimum $1,200,000 to maximum $2,200,000 during the 2011-2012 field season.

(refer Lawson Gold Limited’s prospectus dated June 2010 available at its website www.lawsongold.com)

Past Exploration

Despite numerous gold discoveries in the region in the 1800s and early 1900’s, the initial discovery hole for the Kanowna Belle gold deposit was not drilled until 1989 and the first resource estimate was announced in 1991.

At the Lawson Gold project area, there has been no comprehensive systematic gold-focused exploration.

Previous work by Mt Kersey Mining (1990-99) and Mithril Resources (2005-09) focused predominantly on nickel. Often gold analysis was limited to bottom of hole samples which can underestimate or overlook gold potential.

The best gold intersection reported by Mt Kersey of 4m @ 8.58g/t Au was from 44m depth. Of five shallow holes drilled by NiQuest Limited in 2004-5 (now Ferraus Limited), four drill holes returned anomalous gold and in hole ESR054 the last 5 metres in a 77 metre deep hole returned 18.22 g/t gold before drilling stopped.

Further information:

David Hillier (Chairman) on 08 8418 8541 or 0408 236 408 David Turvey (Executive Director) on 08 8418 8656 or 0416 119 583

Media enquiries to:

Simon Jemison – Collins Street Media on 03 9224 5319 or 0408 004 848

Competent Persons Statement:

The exploration results reported here are based on information compiled by David Turvey (BSc. Hons) who is a member of the Australian Institute of Mining and Metallurgy, and who is a Director of Lawson Gold Limited. He has sufficient experience relevant to the style of mineralisation and the type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, The JORC Code 2004 Edition”. He consents to the inclusion in this announcement on the information compiled by him in the form and context in which it appears.

*Lawson Gold Limited has not yet reported Mineral Resources from exploration of targets or named prospects on its project area. While the company remains optimistic it will report resources in the future, any discussion in relation to exploration potential or targets or potential gold mineralisation is only conceptual in nature and it is uncertain if further exploration will result in determination of a Mineral Resource.

This release may include forward‐looking statements that are based on management’s expectations and beliefs concerning future events. Forward‐looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Lawson Gold Limited, that could cause actual results to differ materially from such statements. Lawson Gold Limited makes no undertaking to subsequently update or revise the forward‐looking statements made in this release to reflect events or circumstances after the date of this release.

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Figure 1: Location Plan & Gold Assay Results of Previous[1] RC & RAB drilling (magnetic base image)

1 Previous gold exploration conducted by Mt Kersey Mining & NiQuest Limited and reported in the Lawson Gold Prospectus dated 28 June 2010.

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Figure 2: Diamond Drilling Rig at Sunrise, Lawsons Prospect

(collared on drill hole LWD002, twinning of previous hole ESR108 with 7m @ 2.7g/t Au & 8m @ 4.4g/t Au)

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Figure 3: Diamond Core LWD002 – altered & mineralised volcanoclastics & quartz feldspar porphyry (assay results pending)