Pr
February
18,
2025
Lancaster
Resources
Announces
Strategic
Shift
to
Gold
Exploration
Vancouver,
British
Columbia
-
Lancaster
Resources
Inc.
(CSE:LCR
|
OTC:LANRF
|
FRA:6UF0)
(
the
“Company”
or
“Lancaster”)
announces
that
it
has
received
a
formal
denial
from
the
State
of
New
Mexico’s
Energy,
Minerals,
and
Natural
Resources
Department
for
its
permit
application
related
to
the
Alkali
Flats
Lithium
Brine
Phase
1
exploration
program.
The
denial,
issued
on
February
14,
2025,
was
based
on
the
Company’s
failure
to
provide
the
required
financial
assurance
to
finalize
the
permit.
However,
Lancaster
may
resubmit
its
exploration
permit
application
with
an
additional
application
fee
when
prepared
to
advance
the
project
in
the
future.
Focus
on
Gold
Exploration
Given
the
significant
decrease
in
lithium
prices
over
the
past
few
years,
the
Company
has
decided
to
focus
on
gold
exploration
at
its
existing
Piney
Lake
Gold
Property
as
a
strategic
priority.
Unlike
lithium,
which
has
experienced
significant
price
volatility
due
to
oversupply
and
fluctuating
demand
in
the
electric
vehicle
market,
gold
has
remained
a
stable
and
historically
strong-performing
asset.
Investors
often
view
gold
as
a
safe-haven
commodity,
particularly
during
times
of
economic
uncertainty.
With
ongoing
inflationary
pressures,
geopolitical
instability,
and
market
volatility
affecting
global
economies,
gold
continues
to
attract
significant
interest
as
a
hedge
against
risk.
Additionally,
central
banks,
institutional
investors,
and
retail
buyers
are
driving
strong
demand,
reinforcing
gold’s
long-term
value.
By
prioritizing
gold
exploration,
the
Company
aims
to
capitalize
on
these
favourable
market
conditions
while
reducing
exposure
to
the
uncertainties
of
the
lithium
sector.
In
light
of
market
conditions,
Lancaster
will
allocate
its
resources
toward
gold
exploration
rather
than
lithium
in
the
near
term.
The
Piney
Lake
Gold
Property
Lancaster
holds
100%
of
the
Piney
Lake
Gold
Property
in
Saskatchewan,
Canada.
It
is
about
65
km
east
of
La
Ronge
Provincial
Park
and
2.5
km
east
of
North
Arrow
Minerals'
Pikoo
property.
Surrounded
by
the
prolific
gold
claims
of
SGO/SSR
Mining,
the
Piney
Lake
Property
is
located
in
a
historically
rich
mineral
district
known
for
significant
gold
discoveries.
Access
to
the
Piney
Lake
property
is
facilitated
by
provincial
highways,
placing
it
about
18
kilometres
to
the
southwest
of
Pelican
Narrows
via
Highway
135
and
similarly
accessible
to
Deschambault
Lake
via
Highway
911.
Historical
geochemical
samplings
for
Piney
Lake
mention
significant
gold
showings
identified
along
a
north-south
trend.
These
include
concentrations
of
7.55g/T
Au
approximately
375
meters
north
and
an
impressive
41.35g/T
Au
approximately
4.1
kilometres
north,
among
others.
Management
cautions
that
mineralization
hosted
on
adjacent
and/or
nearby
properties
is
not
necessarily
indicative
of
the
presence
of
similar
mineralization
or
geology
on
Lancaster’s
properties.
QP
Disclosure
The
technical
content
for
the
Piney
Lake
Gold
Property
in
this
news
release
has
been
reviewed
and
approved
by
Andrew
Watson,
P.
Eng,
the
Company’s
VP,
Engineering
and
Operations,
a
Qualified
Person
as
defined
by
National
Instrument
43-101.
Mr.
Watson
consents
to
the
publication
of
this
press
release
dated
February
18,
2025,
by
Lancaster.
Mr.
Watson
certifies
that
this
press
release
fairly
and
accurately
represents
the
scientific
and
technical
information
that
forms
the
basis
for
this
press
release.
About
Lancaster
Resources
Inc.
Lancaster
Resources
Inc.
is
a
gold
exploration
company
with
a
100%
interest
in
the
Piney
Lake
Gold
Project.
The
Company
also
holds
a
portfolio
of
other
mineral
projects,
including
the
Catley
Lake
and
Centennial
East
Uranium
Projects
in
Saskatchewan,
as
well
as
options
to
acquire
the
Alkali
Flat
Lithium
Brine
Project
in
New
Mexico
and
the
Trans-Taiga
Project
in
James
Bay,
Quebec.
Lancaster
continues
to
assess
additional
gold
projects
for
potential
acquisition.
Penny
White,
President
&
Chief
Executive
Officer
Lancaster
Resources
Inc.
Email:
Tel:
604
923
6100
Website:
www.lancaster-resources.com
Cautionary
Statement
Regarding
Forward-Looking
Statements
Certain
statements
contained
in
this
press
release
constitute
forward-looking
information.
These
statements
relate
to
future
events
or
Lancaster’s
future
performance.
The
use
of
any
of
the
words
“could,”
“expect,”
“believe,”
“will,”
“projected,”
“estimated,”
and
similar
expressions
and
statements
relating
to
matters
that
are
not
historical
facts
are
intended
to
identify
forward-looking
information
and
are
based
on
Lancaster’s
current
belief
or
assumptions
as
to
the
outcome
and
timing
of
such
future
events.
Actual
future
results
may
differ
materially.
In
particular,
the
ability
of
Lancaster
to
execute
its
exploration
plans,
obtain
exploration
and
drilling
permits,
raise
capital,
retain
key
personnel,
identify,
acquire,
explore,
and
develop
high-quality
mineral-rich
properties,
and
integrate
sustainable
energy
sources
and
innovative
technologies
for
climate-positive
resource
production
constitute
forward-looking
information.
Actual
results
and
developments
may
differ
materially
from
those
contemplated
by
forward-looking
information.
Readers
are
cautioned
not
to
place
undue
reliance
on
forward-looking
information.
The
statements
made
in
this
press
release
are
made
as
of
the
date
hereof.
Lancaster
disclaims
any
intention
or
obligation
to
publicly
update
or
revise
any
forward-looking
information,
whether
as
a
result
of
new
information,
future
events,
or
otherwise,
except
as
may
be
expressly
required
by
applicable
securities
laws.
The
Canadian
Securities
Exchange
has
not
reviewed,
approved
or
disapproved
the
contents
of
this
news
release.