Announcement • Jul 08
Lancaster Resources Provides Exploration Update for Lake Cargelligo Gold & Silver Project and Lac Iris Polymetallic Project Lancaster Resources Inc. is also continuing to advance exploration at both the Lake Cargelligo Gold & Silver project in Australia and the Lac Iris polymetallic project in Quebec. With historical rock chips showing grades of up to 204 g/t Au and 273 g/t Ag and recent Lancaster assays up to 31.5 g/t Au and 114 g/t Ag, the opportunity for Lancaster to identify a district-scale Au-Ag discovery in one of Australia's premier mining jurisdictions is significant. Work completed by Lancaster to date has allowed the Company to create a comprehensive exploration program that includes significant geophysical surveying and additional mapping and sampling to identify priority targets for high-impact drilling. Of highest priority to advance drill targeting, Lancaster has designed an induced polarization (IP) survey over the Greater Josephine Moulder prospect. This area, which covers >500 ha including >3 km of prospective granite-sedimentary contact including the 400m long Josephine Moulder vein-breccia outcrop, will include three gradient array IP grids (GAIP) and a minimum of five pole-dipole IP (PDIP) section lines. IP surveying will measure bedrock conductivity, resistivity, and chargeability over the survey area aiming to identify the presence of sulfide accumulations and/or quartz veining in the near surface to approximately 300-400m depth. Should such features be identified, they would rank as high-priority drill targets. In addition to IP surveying, the Company is reviewing options to acquire high-resolution magnetic data that will aid structural interpretation and assist drill targeting by identifying zones of hydrothermal alteration. Magnetic surveying could include high-resolution airborne magnetics-radiometrics over a large portion of the Project hosting the c. 75km of prospective granite-sedimentary strike. Alternatively, ultra high-resolution drone magnetics may be undertaken over the Greater Josephine Moulder and Greater Avoca prospects. Drone magnetics over both the Greater Josephine Moulder and Greater Avoca prospects would, collectively, cover >4,000ha and allow drill targeting over >12km of highly prospective granite-sedimentary strike. Additional campaigns of geological mapping and sampling are planned by Lancaster over newly identified prospects resulting from the 2025 work programs. This work is planned to occur in parallel with IP and magnetic surveying and progression of drill approvals. Lancaster looks forward to its initial drill campaign at Lake Cargelligo and anticipates this will include follow up drilling of historical results at Josephine Moulder and first pass tests of new targets that are expected to be defined by the Company's proposed geophysical surveying. Sampling and Historical Data: Rock chip and grab samples referenced in this news release are selective by nature and the grades reported (including up to 204 g/t Au and 273 g/t Ag from historical sampling and up to 31.5 g/t Au and 114 g/t Ag from recent Company sampling) are not necessarily representative of the mineralization across the Company's properties. The historical results were compiled from the noted references and have not been independently verified by the Company's Qualified Person; they should not be relied upon as an indication of the mineralization or exploration potential of the Company's properties and are not treated as current mineral resources or mineral reserves. Announcement • Mar 11
Lancaster Resources Inc. announced that it expects to receive CAD 0.8 million in funding Lancaster Resources Inc. announced a non-brokered private placement of 16,000,000 common shares at an issue price of CAD 0.05 for total aggregate gross proceeds of CAD 800,000 on March 10, 2026. Finders' fees of up to 8% cash may be paid to qualified finders in connection with the offering. All securities issued as part of the offering will be subject to a statutory hold period of four months and one day from the issuance date. Closing of the offering is expected to take place on March 27, 2026. New Risk • Feb 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-CA$653k). Shareholders have been substantially diluted in the past year (94% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$4.33m market cap, or US$3.16m). 
