Lancaster Resources LiDAR Results and Field Trip Data from Lake Cargelligo Gold Project

Executive Summary

• Lancaster Resources released extensive new LiDAR and field data that identify multiple previously unmapped gold‑bearing vein systems and a total of ~75 km of prospective granite‑sedimentary contact at its 100% owned Lake Cargelligo Gold Project in New South Wales.
• Historical rock‑chip sampling returned high grades (up to 31.5 g/t Au, 114 g/t Ag) and geochemical anomalies (Au‑Ag‑Te‑Bi‑As‑Mo‑Sb, Au‑As‑Cu‑Zn) supporting a district‑scale mineralization model with both gold‑silver and tin‑tungsten potential.
• The company plans further field verification of the LiDAR‑identified targets and is completing an independent consultancy review of existing geophysical data to guide the next phase of exploration.

Key Details

• LiDAR Findings
• Secured 75 km of prospective granite‑sedimentary contact strike length, largely unexplored.
• Identified three large‑scale vein zones along the Central Contact with no prior exploration.
• Mapped unrecorded clusters of potential old workings and vein swarms between Josephine Moulder and Avoca.

• Detected >5 km of untested features (possible quartz veins, historical workings) along the Eastern Contact.

• Historical Sampling Highlights

• Greater Avoca prospect rock‑chip assay: up to 3.66 g/t Au.
• Josephine Moulder/Mt. Wilga prospects: rock chips returned up to 31.5 g/t Au and 114 g/t Ag; strong pathfinder anomalies (Au, Ag, Te, Bi, As, Mo, Sb).

• Soil/geochemical anomalies along Central Contact show Au‑As‑Cu‑Zn enrichment.

• New Target Areas Defined

• Northwest‑southeast trending vein swarm ~3 km south of Avoca (EL 9775/ELA 6970).
• Potential historic pit/trench cluster ~6 km north of Avoca (EL 9775).
• ~4 km long Au‑As‑Cu‑Zn soil anomaly with adjacent vein swarm on Central Contact.

• ~5 km strike of historical workings along Eastern Contact.

• Commodity Focus

• Primary focus remains Au‑Ag mineralization; early tin (Sn) enrichment suggests possible Sn‑W co‑deposit potential.

• Next Steps

• Conduct additional field sampling to validate LiDAR‑identified targets.
• Complete independent consultancy review of legacy geophysical data and targeting study.
• Continue systematic, results‑based exploration program aimed at large‑scale district development.

Notable Quotes

“Our team is extremely encouraged by these LiDAR results, which support the presence of high‑grade gold and silver mineralization at Lake Cargelligo. They add validity to our exploration model and path forward as we unlock district‑scale gold and precious metal projects.” – Andrew Watson, President & CEO

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