SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2014

Oct 15, 2014

Level 9, Waterfront Place, 1 Eagle St, Brisbane QLD 4000 GPO Box 1164, Brisbane QLD 4001 Telephone: 07 3108 3500 Fax: 07 3108 3501 Email: admin@lanewayresources.com.au www.lanewayresources.com.au

ASX ANNOUNCEMENT

16 October 2014

Capital Raising and Drilling Funding Agreement to Fund Exploration Activities and Project Approvals at Agate Creek Gold Project

Highlights

• ✚ Capital Raising of up to $600,000 via a share issue of up to 200 million shares at an issue price of 0.3 cents per share (a 20% premium to the 10 day volume weighted average price (VWAP) of Laneway shares on ASX)

• ✚ Drilling Funding Agreement terms have also been established for up to $350,000 worth of drilling and associated activities to be funded by the issue of up to 100,000,000 ordinary shares at an issue price of 0.35 cents per share (subject to any necessary shareholder approvals).

• ✚ Proceeds of the capital raising and the Drilling Funding Agreement to fund exploration activities and project approvals at Agate Creek Gold Project

The Board of Laneway Resources Limited ( Laneway , ASX:LNY) is pleased to announce that the Company has entered into commitments for a capital raising of up to $0.6 million (before issue costs) and has also entered into a Drilling Funding Agreement for up to $0.35 million worth of drilling and associated activities to continue to develop Laneway’s projects and meet its strategic goals.

The capital raising consists of the issue of up to 200 million ordinary shares with an issue price of 0.3 cents per share. The issue price represents a 20% premium to Laneway’s 10 day VWAP (0.25 cents per share). The proposed participants in the capital raising include entities associated with directors, Stephen Bizzell, Rick Anthon, Mark Baker and former director Ben Harrison. The issue of shares to these parties will be subject to receipt of shareholder approval, which will be sought at the Company’s Annual General Meeting in November (AGM).

In addition, the Company has established terms for drilling and associated activities worth up to $350,000 to be funded by the issue of up to 100 million ordinary shares at an issue price of 0.35 cents per share. The agreed terms will be encompassed in a binding Drilling Funding Agreement to be entered into between the parties. The issue of shares pursuant to the Drilling Funding Agreement will be subject to the receipt of any necessary shareholder approvals which will also be sought at the AGM.

The capital raising and drilling funding arrangements will enable the Company to advance its Agate Creek gold, New Zealand gold and NSW coal projects as well as provide general working capital.

Funds and drilling activities will be primarily directed towards Laneway’s 100% owned Agate Creek gold project. In addition to undertaking up to a 5,000 metre drilling program, the Company will also continue the work required to apply for a Mining Lease over part of the Company’s Agate Creek tenement area. Successful grant of the Mining Lease will enable the Company to initially conduct a larger metallurgical sample of up to 40,000 tonnes to further investigate potential process route and gold recovery refinements following the 5,472 tonne metallurgical sample taken from the project earlier this year from which 1,725 ounces of gold were successfully recovered and then continue with ongoing development, mining and production from the project.

For and on behalf of the Board JPK Marshall Company Secretary