Pr
December
18,
2025
Lancaster
Resources
Update
on
Phase
1
Gold
and
Silver
Exploration
Program
for
Lake
Cargelligo
Project
Vancouver,
British
Columbia:
Lancaster
Resources
Inc.
(CSE:LCR)
(OTC
Pink:LANRF)
(FRA:6UF)
(“
Lancaster
”
or
the
“
Company
”)
is
pleased
to
announce
details
of
its
2026
Phase
1
Exploration
and
Project
Development
Program
(the
“Phase
1
Program”)
at
its
100%
owned
Lake
Cargelligo
Project
in
New
South
Wales,
Australia.
The
Phase
1
Program
is
tailored
to
advance
the
district-scale
gold
and
silver
potential
of
Lake
Cargelligo
during
strong
bullish
market
sentiment
for
gold,
silver,
and
critical
minerals,
including
tin
and
tungsten.
Historical
Assays:
A
comprehensive
data
set
of
historical
drilling
and
sampling
includes
rock
samples
returning
values
of
up
to
204
g/t
Au
and
273
g/t
Ag
,
and
channel
intercepts
up
to
16
m
@
5.83
g/t
Au
and
20
g/t
Ag
,
derived
from
4,176
geochemical
samples
.
1
The
Phase
1
Program
is
poised
to
advance
prospective
exploration,
support
stakeholders
and
progress
the
project
toward
exploration
drilling.
The
program
will
accelerate
Lancaster’s
understanding
of
the
scale
and
grade
of
mineralization
at
the
Greater
Josephine
Moulder
target
area,
while
also
evaluating
metallurgical
characteristics
and
the
potential
for
processing
synergies
with
nearby
operating
mines
to
more
rapidly
reach
cash
flow.
Planned
exploration
activities
include
exploration
drilling,
property-scale
mapping
and
sampling
(surface
and
drilling),
airborne
and
ground
geophysical
surveys,
and
regulatory
approvals
for
exploration
activities.
Phase
1
Program
Highlights
●
Multiple
Vein
Systems:
Newly
mapped
veins
and
historical
workings
at
the
Greater
Avoca
prospect,
where
historical
rock-chip
sampling
returned
up
to
3.66
g/t
Au
.
2
●
Greater
Josephine
Moulder
Trend:
Recent
rock-chip
sampling
returned
values
of
up
to
31.5
g/t
Au
and
114
g/t
Ag
,
accompanied
by
highly
anomalous
Au-Ag-Te-Bi-As-Mo-Sb
pathfinder
geochemistry.
The
mineralized
system
remains
open
to
the
north
,
supported
by
widespread
anomalism
in
historical
auger
drilling
at
Josephine
Moulder
North
,
indicating
strong
potential
for
strike
extension
and
scale.
3
3
https://lancaster-resources.com/lancaster-resources-rock-assay-results-from-lake-cargelligo-gold-project/
2
Talbot,
M.,
2014,
Advene
-
Exploration
Licence
8095
Annual
Report
for
the
12
Months
Ending
27
May
2014,
Carpentaria
Exploration
Ltd.,
DIGS
Report
RE0006371
(GS2014/1533),
Sample
13920
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/minview
).
1
●
Historical
Compilation:
Channel
intercepts
up
to
16
m
@
5.83
g/t
Au
and
20
g/t
Ag
,
with
rock
samples
up
to
204
g/t
Au
and
273
g/t
Ag
,
from
4,176
geochemical
samples
.
4
●
Geological
Mapping
&
Sampling:
Expanded
property-scale
geological
mapping,
surface
sampling,
and
review
of
historical
mining
operations
to
refine
geological
interpretations
and
generate
new
gold,
silver,
tin,
and
tungsten
targets.
●
Geophysics:
Planned
ground
and
airborne
geophysical
surveys,
including
IP,
magnetics-radiometrics,
and
LiDAR,
to
image
subsurface
lithological,
structural,
and
alteration
controls
and
prioritize
drill
targets
at
both
deposit
and
district
scales.
Will
refine
and
prioritize
future
drill
targets.
●
Exploration
drilling
program:
A
planned
-2,500
m
drilling
program
at
the
Josephine
Moulder
target
to
test
historical
drilling,
confirm
subsurface
gold
and
silver
grades,
evaluate
geophysical
targets,
and
advance
resource
modelling.
“
Lancaster's
Phase
1
Exploration
Program
is
structured
to
advance
Lake
Cargelligo
at
an
ideal
point
in
the
gold
and
silver
cycle
”,
said
Andrew
Watson,
President
and
CEO
at
Lancaster
Resources.
“
With
strong
precious-metal
fundamentals
and
a
district-scale
opportunity
supported
by
compelling
historical
results,
our
program
will
systematically
evaluate
the
Project’s
gold
and
silver
exploration
potential
while
advancing
our
geological,
geophysical,
and
metallurgical
understanding
toward
resource
definition.”
Phase
1
Exploration
Program
Details
The
Phase
1
Program
includes
stakeholder
discussions
and
negotiations,
geochemical
sampling,
geophysical
surveying,
and
exploration
drilling
(RC).
This
program
will
allow
Lancaster
to
gather
sufficient
technical
information
and
data
for
the
continued
development
of
the
project
and
permitting
activities.
Permitting
activities
for
the
RC
drilling
program
were
started
in
late
November
with
landowner
consultation
to
ensure
alignment
with
the
technical
exploration
program.
The
Program
is
aiming
to
support
the
mapping
and
understanding
of
the
multiple
prospects,
grade,
and
mineralization
at
both
a
property
and
district
scale
across
Lake
Cargelligo.
December
2025
Field
Trip
Lancaster
is
currently
conducting
the
Company’s
second
field
trip
to
the
property.
The
purpose
of
this
is
to
discuss
exploration
activities
with
the
landowners
to
advance
access
agreements,
undertake
prospect-scale
mapping
and
rock
chip
sampling
to
refine
exploration
targets,
and
assessment
of
LiDAR
features
that
may,
as
previously
reported,
represent
outcropping
veins
and/or
historical
workings.
4
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/minview
).
2
Geophysics
Lancaster
has
engaged
Resource
Potentials,
as
previously
announced,
for
support
on
designing
an
aerial-based
magnetics/LiDAR
program
along
with
a
more
targeted
surface
IP.
This
multi-method
program
is
planned
for
Q1-2
2026.
Data
gathered
from
the
geophysics
will
support
subsurface
exploration
interpretation,
drilling
target
refinement
(priority
and
future
targets).
Drilling
Lancaster
plans
to
complete
an
approximately
2,500-metre
RC
drilling
program
at
the
Josephine
Moulder
prospect.
The
program
is
designed
to
confirm
historical
drilling
results,
collect
new
samples
from
both
near-surface
oxide
and
deeper
sulphide
mineralization,
assess
the
effectiveness
of
geophysical
targeting,
and
advance
resource
modelling
studies.
Drill
samples
are
also
expected
to
undergo
metallurgical
testing
to
evaluate
the
potential
for
processing
through
nearby
operating
facilities,
which
may
provide
a
pathway
to
accelerated
cash
flow
.
3
Target
Prospects
4
5
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
a
Director
and
the
President
and
CEO
of
Lancaster
and
is
not
independent
of
the
Company.
About
Lancaster
Resources
Inc.
Lancaster
Resources
Inc.
is
a
Canadian
exploration
company
advancing
a
diversified
portfolio
of
gold
and
silver
exploration
projects
in
established
mining
jurisdictions.
The
Company
holds
a
100%
interest
in
the
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
Australia,
which
is
6
prospective
for
both
gold
and
silver
mineralization,
covering
approximately
62,300
hectares
with
a
history
of
drilling
and
exploration
and
multiple
high-priority
targets.
In
Canada,
Lancaster’s
assets
include
the
Lac
Iris
Polymetallic
Project
in
Quebec’s
James
Bay
region
and
the
Piney
Lake
Gold
Project
in
Saskatchewan.
Lancaster’s
portfolio
provides
exposure
to
gold,
silver,
and
polymetallic
exploration
opportunities
across
tier-one
jurisdictions.
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
within
the
meaning
of
applicable
Canadian
securities
laws.
Forward-looking
information
includes,
but
is
not
limited
to,
statements
regarding
the
Company’s
exploration
plans,
geological
interpretations,
geophysical
surveys,
drilling
programs,
metallurgical
testing,
permitting
and
land
access
activities,
timing
of
exploration
programs,
and
the
potential
advancement
of
the
Lake
Cargelligo
Gold
Project,
which
is
prospective
for
gold
and
silver
mineralization.
Forward-looking
information
is
generally
identified
by
the
use
of
words
such
as
“may,”
“could,”
“expect,”
“believe,”
“plan,”
“will,”
“estimate,”
“project,”
“potential,”
and
similar
expressions.
Such
statements
are
based
on
management’s
current
expectations,
assumptions,
and
beliefs
as
of
the
date
of
this
press
release
and
involve
known
and
unknown
risks,
uncertainties,
and
other
factors
that
may
cause
actual
results,
performance,
or
achievements
to
differ
materially
from
those
expressed
or
implied
by
such
forward-looking
information.
Risks
and
uncertainties
include,
but
are
not
limited
to,
exploration
risks,
results
of
exploration
activities,
availability
of
capital,
commodity
price
fluctuations,
permitting
and
regulatory
approvals,
land
access
agreements,
environmental
and
social
risks,
operational
risks,
and
the
ability
to
retain
key
personnel.
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.
7