Pr
December
10,
2025
LANCASTER
RESOURCES
ANNOUNCES
FINAL
CLOSING
OF
$757,000
FINANCING
—
UPSIZED
FROM
ORIGINAL
$500,000
Vancouver,
British
Columbia
-
Lancaster
Resources
Inc.
(CSE:LCR
|
OTC:LANRF
|
FRA:6UF0)
(
the
“Company”
or
“Lancaster”)
is
pleased
to
announce
the
final
closing
of
its
non-brokered
private
placement
(the
“
Financing
”).
The
Company
has
now
raised
total
gross
proceeds
of
$757,000
in
the
Financing
and
is
fully
closed,
after
being
upsized
from
the
original
$500,000.
The
final
tranche
consisted
of
5,140,000
units
at
$0.05
per
unit
for
gross
proceeds
of
$257,000,
including
$185,000
in
debt
conversions.
Each
unit
consists
of
one
common
share
and
one
common
share
purchase
warrant,
with
each
warrant
exercisable
at
$0.08
for
a
period
of
two
years
from
issuance.
The
Company
previously
announced
the
closing
of
the
initial
$500,000
tranche
on
November
21,
2025,
and
the
Financing
was
upsized
due
to
increased
investor
interest.
In
connection
with
this
final
tranche,
the
Company
paid
$1,600
in
cash
finder’s
fees
and
issued
32,000
broker
warrants,
exercisable
at
$0.08
for
two
years.
The
intended
use
of
proceeds
from
the
Financing
is
the
exploration
at
the
Company’s
100%-owned
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
Australia,
as
well
as
marketing
and
general
working
capital.
All
securities
are
subject
to
a
four-month
and
a
day
hold
period,
in
accordance
with
applicable
securities
laws.
Insider
Participation
and
NI
62-104
Early
Warning
Disclosure
Insider
participation
in
the
final
tranche
included
subscriptions
by
a
company
controlled
by
Andrew
Watson
(Director,
President
&
CEO)
for
680,000
units,
a
company
controlled
by
Rick
Huang
(CFO)
for
1,020,000
units,
and
a
company
controlled
by
Penny
White
(Director)
for
2,000,000
units.
As
a
result
of
the
Financing,
White,
directly
and
indirectly,
now
holds
over
10%
of
the
issued
and
outstanding
common
shares
of
the
Company,
triggering
early-warning
reporting
requirements
under
NI
62-104.
Prior
to
the
Financing,
White
beneficially
owned
and
controlled,
directly
or
indirectly,
8,463,392
common
shares,
representing
approximately
8.22%
of
the
issued
and
outstanding
common
shares
of
the
Company
on
a
non-diluted
basis.
Following
completion
of
the
Financing,
White
beneficially
owns
and
controls,
directly
or
indirectly,
10,463,392
common
shares,
representing
approximately
9.67%
of
the
issued
and
outstanding
common
shares
on
a
non-diluted
basis,
and
12,713,392
securities
on
a
partially-diluted
basis,
assuming
exercise
of
2,250,000
convertible
securities,
representing
approximately
11.51%
on
a
partially
diluted
basis.
As
White’s
holdings
exceed
10%
on
a
partially
diluted
basis,
an
Early
Warning
Report
is
required
under
National
Instrument
62-104.
The
securities
were
acquired
for
investment
purposes.
White
may
acquire
or
dispose
of
securities
in
the
future
depending
on
market
conditions
and
other
factors.
In
accordance
with
National
Instrument
62-104,
an
Early
Warning
Report
will
be
filed
on
SEDAR+
within
two
business
days
and
will
be
available
under
the
Company’s
issuer
profile.
A
copy
may
also
be
obtained
from
the
Company
at
no
cost.
Insider
subscriptions
constitute
related-party
transactions
under
MI
61-101;
however,
exemptions
from
minority
approval
requirements
are
available
as
the
fair
market
value
of
securities
issued
to
insiders
does
not
exceed
25%
of
Lancaster’s
market
capitalization.
Insider
subscriptions
were
made
through
debt
conversions.
About
Lancaster
Resources
Inc.
Lancaster
Resources
owns
100%
of
the
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
Australia,
a
district-scale
land
package
of
~62,168
hectares
with
roughly
75
kilometres
of
highly
prospective
strike
in
the
Cobar
Mining
District.
The
project
hosts
multiple
intrusion-related
and
orogenic
gold
targets
along
an
18-kilometre
granite–sediment
contact
zone,
characterized
by
widespread
multi-element
pathfinder
anomalies
and
large,
untested
geophysical
and
geochemical
trends.
With
no
modern
geophysics
previously
completed,
Lake
Cargelligo
offers
exceptional
discovery
potential
and
is
being
advanced
toward
targeted
drilling
in
2026,
supported
by
an
extraordinary
technical
team
with
decades
of
discovery
experience
in
Australia
and
globally.
Lancaster
also
holds
complementary
gold,
uranium,
and
polymetallic
assets
in
Saskatchewan
and
Québec,
Canada,
providing
additional
exploration
optionality
and
upside.
Andrew
Watson,
President
&
Chief
Executive
Officer,
Lancaster
Resources
Inc.
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.