Pr
July
22,
2025
Lancaster
Resources
Clarifies
News
Release
Vancouver,
British
Columbia
-
Lancaster
Resources
Inc.
(CSE:LCR
|
OTCQ:LANRF
|
FRA:6UF0)
(
the
“Company”
or
“Lancaster”)
is
issuing
a
clarification
at
the
request
of
the
CSE
and
CIRO
concerning
the
staking
of
the
Lac
Iris
Polymetallic
Project
that
was
previously
disclosed
as
an
acquisition.
Lancaster
is
also
pleased
to
provide
an
update
on
its
properties.
The
Company’s
portfolio
of
projects
includes:
●
Lake
Cargelligo
Gold
project,
a
district-scale
gold
exploration
property
in
Australia
●
Lac
Iris
Polymetallic
Project
and
the
Trans-Taiga
Project,
both
in
the
James
Bay
region
of
Quebec;
●
Catley
Lake
and
Centennial
East
Uranium
Projects
in
the
prolific
Athabasca
Basin,
Saskatchewan;
and
●
Piney
Lake
Gold
Project
Saskatchewan.
The
Company
continues
to
review
gold
and
critical
mineral
projects
for
acquisition.
Lac
Iris
Polymetallic
Project
Lac
Iris
is
a
~1,443ha
project
located
along
the
same
geological
trend
as
the
NISK
polymetallic
high-grade
nickel-copper
sulphide
deposit.
The
Lac
Iris
properties
are
prospective
for
polymetallic
exploration.
Acquisition
:
The
Lac
Iris
Polymetallic
Project
was
acquired
through
online
staking
using
Quebec’s
Mining
Title
Management
system
(GESTIM
Plus).
The
titles
are
currently
pending
the
completion
of
the
provincial
mining
title
review
process.
Lancaster
will
provide
updates
once
the
review
is
complete.
Lancaster
has
started
collaboration
with
KorrAI
to
review
opportunities
for
hyperspectral
imaging
and
a
targeted
field
geological
and
geochemical
program
in
early
fall
2025.
The
goal
of
this
exploration
project
is
to
identify
polymetallic
and
lithium-rich
areas/outcroppings,
construct
detailed
geological
maps,
and
evaluate
the
high-value
metals
content
through
rock
and
soil
sampling.
Lake
Cargelligo
Gold
Project
The
Lake
Cargelligo
Gold
project,
which
encompasses
over
28,768
hectares
under
a
single
exploration
license,
features
multiple
historical
high-grade
gold
and
silver
occurrences,
identified
through
rock
chip
and
channel
sampling,
as
well
as
historical
drilling.
Historical
sampling
includes
results
up
to
204
g/t
Au
and
273
g/t
Ag
from
rock
chips,
and
up
to
16m
@
5.83
g/t
Au
and
7.20
g/t
Ag
from
channel
sampling.
1
Lancaster
has
initiated
local
stakeholder
discussions
to
ensure
rapid
and
fulsome
approval
with
both
stakeholders
and
regulatory
bodies.
This
work
is
expected
to
complete
by
mid
August
2025
and
will
allow
for
Lancaster
to
initiate
its
exploration
program
in
Q3
2025.
The
exploration
program
will
target
confirmation
of
the
highly
anomalous
gold
and
silver
concentrations
previously
reported.
Field
geologists
will
gather
rock
and
soil
samples
for
analysis,
along
with
detailed
outcropping
and
surface
geological
mapping.
In
addition,
Lancaster
will
conduct
a
targeted
geophysical
program
to
support
follow-up
drilling
opportunities
within
the
project.
The
Company
has
also
initiated
preparation
of
a
maiden
NI
43-101
technical
report
on
the
project.
Trans-Taiga
James
Bay
Project
Lancaster
holds
the
rights
to
acquire
a
100%
interest
in
the
Trans-Taiga
property
located
within
the
James
Bay
lithium
district
of
Quebec,
Canada.
Lancaster
is
reviewing
opportunities
for
a
joint
field
exploration
program
and
HSI
data
set
with
the
Lac
Iris
project.
This
combined
effort
would
save
capital
and
help
confirm
the
significant
opportunity
at
Trans
Taiga.
Catley
Lake
&
Centennial
East
Uranium
Projects
Lancaster
holds
100%
of
the
Catley
Lake
and
Centennial
East
properties
in
Saskatchewan,
Canada.
The
properties
are
immediately
adjacent
to
the
Cameco
Centennial
deposit
claims.
The
Cameco
Centennial
deposit
is
located
just
12
km
to
the
west
and
has
notable
uranium
concentrations
of
up
to
8.78%
U
3
O
8
over
33.9m
and
25.6%
U
3
O
8
over
0.5m.
2
Approximately
24km
southwest
of
Lancaster’s
claims
is
the
Cameco
Dufferin
deposit,
which
has
shown
assays
of
up
to
1.73%
U
3
O
8
over
6.5m.
3
Lancaster's
exploration
plans
include
an
initial
detailed
surface
outcrop
mapping,
using
hyperspectral
data
to
identify
vegetation
stress
indicative
of
subsurface
uranium,
acquiring
high-resolution
optical
imagery,
and
purchasing
corrected
imagery
for
hyperspectral
analysis
(HSI).
3
https://mineraldeposits.saskatchewan.ca/
.
Reports
SMDI
74G05-0068.
2
https://mineraldeposits.saskatchewan.ca/
.
Reports
SMDI
2758.
1
Sources
include:
(1)
Carpentaria
Exploration
Ltd.,
2014
Annual
Report
for
EL8095;
(2)
Aberfoyle
Exploration
Pty
Ltd.,
First
and
Final
Report
for
EL1770,
June
1982;
(3)
Lachlan
Resources
N.L.,
First
Six-Month
Progress
Report
for
EL2914;
and
(4)
MinView
database
from
the
Geological
Survey
of
NSW
(
https://www.resources.nsw.gov.au/geological-survey/mi
nview
).
Piney
Lake
Gold
Project
Lancaster
holds
100%
of
the
Piney
Lake
Gold
Property
in
Saskatchewan,
Canada.
It
is
approximately
65
km
east
of
La
Ronge
Provincial
Park
and
2.5
km
east
of
North
Arrow
Minerals'
Pikoo
property.
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
4.1km
north,
among
others.
4
Management
Commentary
“
The
Lancaster
team
is
extremely
excited
about
closing
our
the
Lake
Cargelligo
acquisition.
We
can
now
accelerate
the
development
of
our
precious
and
critical
mineral
portfolio
by
launching
exploration
programs
at
Lake
Cargelligo
and
in
the
James
Bay
area.
With
these
programs
underway,
we
are
focused
on
delivering
significant
exploration
results
and
unlocking
the
discovery
potential
of
both
projects”,
said
Lancaster
CEO
Andrew
Watson.
All
exploration
results
are
historical
in
nature
and
have
not
been
verified
by
a
Qualified
Person
under
NI
43-101.
The
Company
considers
these
results
relevant
for
exploration
purposes
but
not
necessarily
indicative
of
mineralization
on
the
property.
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.
Andrew
Watson,
P.Eng.,
President,
CEO,
and
a
Director
of
the
Company,
is
a
Qualified
Person
as
defined
under
National
Instrument
43-101
–
Standards
of
Disclosure
for
Mineral
Projects
.
Mr.
Watson
has
reviewed
and
approved
the
scientific
and
technical
information
contained
in
this
news
release.
Mr.
Watson
is
the
President
and
Chief
Executive
Officer
and
a
Director
of
the
Company
and
is
not
independent
of
the
Company.
About
Lancaster
Resources
Inc.
Lancaster
is
focused
on
building
a
portfolio
of
district-scale
exploration
assets
positioned
for
future
resource
development.
The
Company
holds
a
100%
interest
in
the
Piney
Lake
Gold
Project
in
Saskatchewan,
uranium
projects
at
Catley
Lake
and
Centennial
East
in
the
Athabasca
Basin,
and
the
Lac
Iris
P
olymetallic
Project
in
Quebec’s
James
Bay
region,
where
it
also
holds
an
option
to
acquire
the
Trans-Taiga
property.
In
Australia,
Lancaster
owns
the
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
covering
28,768
hectares
with
over
25
km
of
prospective
strike
and
three
primary
target
zones.
Andrew
Watson,
President
&
Chief
Executive
Officer,
Lancaster
Resources
Inc.
4
https://mineraldeposits.saskatchewan.ca/
.
Reports
SMDI
2646
and
2578.
Tel:
604
923
6100
www.lancaster-resources.com
The
Canadian
Securities
Exchange
has
not
reviewed,
approved
nor
disapproved
the
contents
of
this
news
release.
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,
raise
capital,
retain
key
personnel,
identify,
acquire,
explore,
and
develop
high-quality
mineral-rich
properties
constitutes
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.