The state government has awarded $35,000 to the brother of a Victorian boy who has been missing for more than 47 years, to help complete the search for his remains. 

Terry Floyd was last seen on the side of the Pyrenees Highway, between Avoca and Maryborough, on the afternoon of June 28, 1975. He was 12 years old.

A coroner determined in 2001 that Terry was murdered, but his body has never been found. 

Witnesses previously told police Terry may have been taken away in a car, leading detectives to believe he was abducted.

His brother, Daryl Floyd, has been searching for him for years. 

About a year ago, a canine search unit showed significant interest in a mine shaft near where Terry went missing.

At the time, Mr Floyd said he had been contacted by some prospectors in the area who had made "quite a significant find", and that he and volunteer searchers from Search Dogs Sydney planned to comb a 500-metre radius around the mine site.

Mr Floyd has previously said he believed that was where Terry's remains were.

The government has contributed up to $145,000 to the search for Terry, including the final $35,000 this month.

"We support Mr Floyd's dedication and tireless efforts to search for his missing brother, as well as those of the many Victorians assisting him," a spokesperson for the government said. 

Comment is being sought from Daryl Floyd.