SAVANNAH GOLDFIELDS LIMITED — Capital/Financing Update 2021

Jul 4, 2021

Level 21, Matisse Tower 110 Mary St, Brisbane QLD 4000 GPO Box 1164, Brisbane QLD 4001 Telephone: 07 3108 3500 Email: admin@lanewayresources.com.au www.lanewayresources.com.au

ASX ANNOUNCEMENT

5 July 2021

Conversion of Unlisted Convertible Notes and Extension of Remaining Notes Term

Laneway Resources Limited advises that it has received conversion notices with respect to 129m of the $0.005 June 2021 unlisted convertible notes on issue (representing $645,000 worth of the notes) and have issued 129m ordinary shares.

The shares are being issued in relation to the conversion of convertible notes at a conversion price of $0.005 per share.

All of the notes converted were held by entities related to directors of the Company. Shareholder approval for the original issue of the notes to director related entities and for the shares to be issued upon their conversion was obtained at the 2018 AGM.

Following the above note conversions, the Company has 206m convertible notes ($1,030,000) remaining on issue. Agreement has been reached with the remaining noteholders and a special resolution has been passed by the requisite majority of 75% of noteholders to amend the Terms of Issue of the Convertible Notes to extend the maturity date to 31 December 2021 and the Company and the Note Trustee have entered into a Deed of Amendment to this effect. All other terms of the notes remain unchanged.

An Appendix 2A will be lodged with ASX separately today with respect to the issue of the shares upon conversion of the notes.

Notice given under Section 708A(5) of the Corporations Act 2001

The ordinary shares are part of a class of securities quoted on the Australian Securities Exchange. The shares were issued without disclosure to the investor under Part 6D.2, in reliance on Section 708A(5) of the Corporations Act 2001.

The Company, as at the date of this notice, has complied with:

• a) The provisions of Chapter 2M of the Corporations Act 2001; and

• b) Section 674 of the Corporations Act 2001.

There is no excluded information as at the date of this notice, for the purposes of Sections 708A(7) and (8) of the Corporations Act 2001.

Authorised by

Paul Marshall Company Secretary