Lachlan Star Announces Update on Working Capital Facility

PERTH, WESTERN AUSTRALIA--(Marketwired - Jan. 2, 2015) -

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Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (LSA.AX)(LSA.TO) wishes to advise that, further to its announcement of 1 December 2014, it remains in discussion with Hamilton Place Associates LLC ("HPA") regarding the availability of a working capital facility and anticipates providing a further update to the market in January.

There is no assurance additional financing will be available as and when required or, if available, that it will be on terms acceptable to the Company. Should the Company not be able to secure additional financing as required, or should the gold price remain below US$1,200 per ounce for a sustained period of time, these constitute material uncertainties which may cast a significant doubt about the group's ability to continue as a going concern and therefore whether it will realise its assets and discharge its liabilities in the normal course of business and at the amounts stated in its latest financial statements.

The Company continues to review its activities so as optimise its operations within the current economic environment.

To view this announcement please click the link below:

Link: http://www.lachlanstar.com.au/images/LSA_02015_Funding.pdf