Lancaster Secures Premier Gold Project in Australia

Lancaster Resources Inc., a Canadian exploration company, has finalized a Mineral Claim Purchase Agreement to acquire 100% of the Lake Cargelligo Gold Project located in New South Wales, Australia. This acquisition, secured from Sunbird Resources Pty Ltd. and Mac Minerals Pty Ltd., positions Lancaster in one of Australia's renowned mining districts, the Cobar mining area. The Lake Cargelligo project spans over 28,768 hectares, making it a district-scale opportunity with significant historical gold and silver data, yet with modern geophysics still to be applied. The purchase agreement involves a total price of CAD $210,000 primarily paid in stock, coupled with milestone payments up to $3.68 million contingent on project progress. The deal includes a 2% NSR royalty, partly repurchasable by Lancaster. The acquisition is a strategic enhancement of Lancaster's portfolio, notably expanding its precious metals assets amid burgeoning global demand for gold. Lancaster plans to initiate a series of exploration activities on the site in Q3 2025, aiming to capitalize on historical findings and potentially uncover new high-impact mineral deposits. The project, with historical exploration indicators showing high-grade mineralization, aligns with Lancaster's strategic goals to unlock valuable resources across key jurisdictions. Ross Brown, a seasoned mining exploration expert, will join Lancaster as VP Exploration, while Rob Heaslop, with extensive field execution experience, takes the mantle of Australia Country Manager. The move secures Lancaster’s dedicated approach towards unlocking the project’s full potential, further strengthening its foothold in the critical mineral and precious metal exploration sector.