Press Release
October
17,
2025
Lancaster
Resources
Completes
Maiden
NI
43-101
Technical
Report
at
Lake
Cargelligo
Gold
Project,
Australia
-
Milestone
Achieved
As
Gold
Hits
$4,300
per
ounce
Vancouver,
British
Columbia
-
Lancaster
Resources
Inc.
(CSE:LCR
|
OTCQ:LANRF
|
FRA:6UF0)
(
the
“Company”
or
“Lancaster”)
is
pleased
to
announce
the
completion
and
filing
of
its
maiden
National
Instrument
43-101
Technical
Report
for
its
100%-owned
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
Australia.
The
filing
comes
as
gold
prices
surge
to
an
all-time
high
of
US$4,300
per
ounce
,
underscoring
the
growing
global
demand
for
quality
exploration
assets
in
stable
jurisdictions.
“Completing
our
maiden
NI
43-101
Technical
Report
at
a
time
when
gold
has
reached
record
highs
reinforces
the
importance
of
our
Lake
Cargelligo
Gold
Project
as
a
strategic
asset
in
Lancaster’s
portfolio,”
said
Andrew
Watson,
President
and
CEO
.
“The
independent
validation
by
Geos
Mining
highlights
the
project’s
strong
geological
potential
and
provides
a
clear
roadmap
for
discovery
at
a
time
when
investor
interest
in
gold
exploration
is
rapidly
accelerating.”
Technical
Report
Highlights
●
License
transfer
from
Mac
Minerals
Pty
to
Lancaster’s
wholly
owned
subsidiary
Lancaster
Gold
Australia
Pty
Ltd,
has
been
initiated
and
is
expected
to
be
completed
shortly
●
Compilation
of
Drilling
and
Historical
sampling
with
channel
intercepts
up
to
16m
@
5.83
g/t
Au
and
7.20
g/t
Ag
1
,
rock
sampling
of
up
to
Au-204g/T
1
and
Ag-273g/T,
from
a
total
of
4,176
geochemical
samples
●
Multiple
Mineralization
Opportunities
○
Large-scale
shear-hosted
gold
mineralization
associated
with
enriched
silver,
copper,
lead
and
zinc
○
Intrusive
Related
Gold
Systems
associated
with
contact
zones
between
Silurian
Ungarie
Granite
and
altered
Ordovician
Abercrombie
Formation
turbidite
sediments
○
Orogenic-
style
gold
hosted
by
quartz
veins
and
stockworks
within
structural
zones
such
as
anticlinal
fold
hinges
○
Intrusion-related
tin
/
tungsten
deposits
as
veins,
disseminations
and
greisen
zones
in
the
carapace
of
granitic
intrusions.
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
).
●
Four
priority
target
areas
outlined:
Josephine
Moulder,
Josephine
Moulder
East,
Avoca,
Mount
Wilga
●
Recommendations
for
a
Phase
I
exploration
program
including
geophysics
(including
IP
and
airborne
magnetics),
geochemistry
,
and
an
initial
RC
and
diamond
drill
program.
“The
Lake
Cargelligo
Gold
Project
positions
Lancaster
squarely
in
the
midst
of
one
of
Australia’s
most
prolific
gold
belts.
With
multiple
untested
targets
and
a
supportive
mining
jurisdiction,we
believe
the
project
offers
the
potential
for
significant
new
gold
discoveries,”
added
Watson.
“With
gold
reaching
historic
levels,
advancing
our
exploration
program
now
could
unlock
meaningful
value
for
shareholders.”
The
independent
NI
43-101
Technical
Report
was
prepared
by
Geos
Mining,
a
Sydney-based
geological
consulting
group
specializing
in
geological
and
mining
services
for
exploration
companies.
While
these
historical
results
have
not
been
verified
by
a
Qualified
Person,
they
highlight
significant
exploration
potential
and
will
be
key
focal
points
in
the
upcoming
work
programs.
The
Lake
Cargelligo
Gold
Project
43-101
report
can
be
found
under
the
Company’s
profile
on
SEDAR+
at
www.sedarplus.ca
.
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
Resources
Inc.
is
a
Canadian
exploration
company
advancing
a
portfolio
of
critical
mineral
and
gold
projects
in
established
mining
jurisdictions.
The
Company
holds
a
100%
interest
in
the
Lake
Cargelligo
Gold
Project
in
New
South
Wales,
Australia,
covering
more
than
~62,300
hectares
with
a
history
of
drilling
and
exploration.
In
Canada,
Lancaster’s
assets
include
the
Lac
Iris
Polymetallic
Project
and
an
option
to
acquire
the
Trans-Taiga
Project
in
Quebec’s
James
Bay
region,
as
well
as
the
Piney
Lake
Gold
Project
and
uranium
projects
at
Catley
Lake
and
Centennial
East
in
Saskatchewan’s
Athabasca
Basin.
Lancaster’s
diversified
land
position
provides
exposure
to
gold,
uranium
and
polymetallic
exploration
opportunities.
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.