SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2017

Nov 29, 2017

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

30[th] November 2017

RESTART OF DRILLING BY LANEWAY AT NZ GOLD PROJECT

• Drilling has just resumed on EP 54216 within Laneway’s NZ Gold Project testing one of several targets within the highly prospective mineralised corridor untested during the farmin period with Newcrest.

• Recent infill soil sampling has further enhanced and defined a coincident multi-element soil anomaly covering a 500m long anomaly area which corresponds well with an interpreted extension of the structure that hosts the highgrade Empire South Vein (Golden Cross) and also the historic Komata Workings.

• The Drilling contract has again been awarded to Alton Drilling a Waihi based company.

• Diamond drilling commenced yesterday with the hole late yesterday at 5.5m - the hole is expected to reach its target depth of 800m before Christmas.

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’ RE- START OF DRILLING AT LANEWAY S NZ GOLD PROJECT

Laneway Resources Ltd (ASX:LNY) (“Laneway” or the “Company”) is pleased to advise that exploration activities are progressing well on the New Zealand Gold Project since the dissolution of the farm-in agreement with Newcrest earlier in the year. Several significant high priority drill targets still exist within the permits and have been prioritised for permitting and drilling. Diamond drilling restarted yesterday with the collaring of hole (LNDD014) at Komata on EP54216. This hole is designed to test a large soil anomaly which corresponds with the interpreted extension of the Empire South-Komata Mineralisation trend. The hole will substantially complete Laneway’s statutory drilling obligations for this permit prior to the expiry of the current 5 year term and possible Extension of Duration.

Another target within EP 54216 has been designed to test the inferred southern extension of the Maria Vein of Karangahake Mine. Land access negotiations are still in progress to allow drilling of this target.

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Location of Laneway’s New Zealand Gold Project Permits and nearby Resources

OTHER PLANNED EXPLORATION

There are still several drill ready target areas within EP 53469. The most exciting of these areas is the 500m long Jubilee trend which was historically mined around the turn of last century. Recorded production was 1,300oz of gold bullion from 2,118 tons of quartz within one small stope area. Several historical reports also state quartz veining was up to 32 feet wide in the lower levels 200m below surface.

The Jubilee area has had less than 10 holes drilled into the area shown below with only 2 of these holes deeper than 200m and as such retains significant depth potential, particularly when compared to the Maria vein within the Karangahake Mine System which sits 7km directly along trend from Jubilee. Recent resampling of the limited historical core in the Jubilee area has highlighted veining and structures which warrant follow up drilling of the structure. Holes LNY01-03 are specifically targeting this area. Additionally holes LNY04-08 are designed to target both along strike and down dip, extensions of historically mined areas within the Jubilee area.

All agreements and permitting are now in place to allow drilling of this area early in 2018.

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Current planned holes
along Jubilee trend
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Section showing potential comparison between Jubilee and Karangahake Systems

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BACKGROUND ON NZ GOLD PROJECT

The project is located on the North Island of New Zealand in the Hauraki goldfield, within the mineralised corridor that is host to the historic Karangahake and Golden Cross gold-silver mines, and in the same district as Oceana Gold’s operating Waihi Mine. The Hauraki goldfield is host to approximately 50 low-sulphidation epithermal prospects and deposits, and has yielded in excess of 45 million ounces of gold and silver

Historic mining occurred in the Project area between 1860 and 1952, with workings reaching a depth of up to 140m from surface. There remains significant scope for down dip and strike extensions of this mineralisation along a >10 km long prospective corridor.

The geology of the Hauraki goldfield consists of a block-faulted basement of Jurassic greywacke (Mania Hill Group) overlain by a thick sequence of andesite and lesser dacite (Coromandel Group), and rhyolite and ignimbrite (Whitianga Group). Based on known occurrences of goldsilver deposits in the goldfield, two epithermal gold-silver mineral deposit models, andesite-hosted and rhyolitehosted, are considered the most prospective.

Gold and silver are localised in quartz veins that range up to 30m wide and approximately 800m long. Gold and silver occurs in sheeted and stockwork quartz veins, breccia pipes and disseminated in hydrothermally altered wall rocks, typical of hot springs type epithermal gold deposits.

Oceana Gold’s Martha Mine, Waihi New Zealand

For and on behalf of the Board JPK Marshall Company Secretary

For further information contact: Stephen Bizzell Chairman, Laneway Resources Phone: (07) 3108 3500 E-Mail: admin@lanewayresources.com.au

COMPETENT PERSONS STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Mr Scott Hall who is a member of the Australian Institute of Mining and Metallurgy. Mr Hall is a full-time employee of Laneway Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Hall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.