Laneway Resources Limited - Update on Share Consolidation and Name Change

Laneway Resources Limited ('Laneway' or 'Company') (ASX: LNY), to be renamed Savannah Goldfields Limited, advises that following receipt of shareholder approval at the General Meeting held on 30 September 2022, the Company will now proceed with the consolidation of its share capital through the conversion of every forty (40) equity securities into one (1) equity security ('Consolidation') in accordance with the indicative timetable (subject to change) set out below:

Holding statements

After the Consolidation, new holding statements for securities will be issued to holders of those securities reflecting the post consolidation holdings.

Change of Name and new ASX Code

At the same General Meeting, shareholders approved a change of the name of the Company to Savannah Goldfields Ltd. The change of name, and change of ASX code to SVG, will be effective on ASX once the consolidation has been completed which is expected to be 19th October 2022.

This announcement is authorised for release by the Board of Directors of Laneway Resources Limited.

Contact:

Paul Marshall

Company Secretary

Laneway Resources Limited

Phone: [phone]

E-Mail: [e-mail]

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