Police found Oliver Yang in Grafton, New South Wales. He is believed to have suffered no major injuries.

A 53-year-old man is assisting police with inquiries.

Police are still looking for the dark blue Jeep Compass used in the abduction, registration 760TNH.

More to come.

EARLIER

POLICE have set up a major incident room and are following “a number of leads” in what they say could have been the organised abduction of a young boy from a Gold Coast street.

Twelve-year-old Oliver Yang was forced into a dark coloured SUV as he walked home from school in Mudgeeraba yesterday afternoon.

Oliver had left Somerset College and was walking along Clover Hill Dr when the occupants of a dark coloured Jeep Compass SUV with a possible Queensland registration 760 TNH grabbed him off the street at about 3.45pm. He may be at significant risk.

CCTV images of Oliver show him carrying a tennis racquet and a school backpack.

Detective Inspector Marc Hogan told media this morning the abduction appeared planned but efforts to locate Oliver overnight had failed.

“He’d been at school. On returning home, it appears that within a very short time frame the abduction occurred,” he said.

Det Insp Hogan said people living on the street where the abduction occurred heard the boy’s screams and saw him bundled into the back of a car.

“It’s a very close community,” he said.

“There were people who were home at the time. They reported it to police.

“We worked all through the night in relation to trying to locate this boy. We haven’t been successful.

“In terms of media awareness and public awareness, we are asking people to be on their guard and look for information that might assist us.”

Det Insp Hogan said he could not comment on whether police had identified the owners of the car.

“We’re trying to run things out and ascertain points of truth,” he said.

“There was some CCTV of the vehicle locally but since that time we haven’t been successful (in finding it again).”

He said there had been a delay of some hours in putting out an Amber Alert because police had initially believed they would be able to find Oliver relatively quickly.

“Initially there was some information which appeared that if it had run out in due course the matter would have been resolved fairly quickly but it didn’t work out that way,” Det Insp Hogan said.

When asked whether the abduction appeared to have been planned, he said: “Yes, to be honest, yes it does.”

“The early indications are that some work has gone into that. We’ve received information today from members of the public which has skewed us in that direction.”

The Jeep has a possible registration of 760 TNH.

Yang is a budding chess and tennis champion at the prestigious Somerset College.

Somerset headmaster Craig Bassingthwaighte on Saturday said the 12-year-old was ”a wonderful young boy” and the school community was in shock over yesterday’s chilling abduction, which happened just metres from the school gates.

“He is very talented, he is an extraordinary chess player, loves his tennis, he is an extraordinary young man,” he said.

He said the college would call on counsellors from other schools to provide counselling for shocked students.

“We’re obviously horrified that this has happened,” he said.

EARLIER

POLICE have released CCTV footage and are seeking urgent public assistance to help find a 12-year-old boy taken from the Gold Coast at 3.30pm on Friday afternoon.

Oliver Yang, a chess player who attends Somerset College, “may be at significant risk” and was last seen on Clover Hill Drive at Mudgeeraba at 3.30pm being pulled into a dark hatch with a possible Queensland registration 760 TNH.

“The police has issued an amber alert for Oliver Yang, last seen today on Clover Hill Drive at 3.30pm. Anyone with any information is urged to call 131 564 or 000 if life threatening information. Please help share this,” the school posted.

Oliver is described as Asian in appearance, wearing a white shirt and dark coloured shorts.

The amber alert has sparked a massive police search on the Gold Coast desperately trying to locate the missing schoolboy.

Gold Coast Assistant Commissioner Brian Codd said police were “very concerned” as the frantic search stretched late in to the night.

While the exact amount of police units investigating has not been confirmed, police media said there are a significant amount of crews assisting with the search.

“Basically every man and his dog, every crew that would be on that’s not attached to anything else would probably be helping out,” a police media spokesman said.

Call 131 564 to provide information about this abduction. Call triple-0 (000) if you have life threatening information about this abduction.