Lancaster Resources arranges $800,000 private placement

Executive Summary

• Lancaster Resources Inc. has arranged a non-brokered private placement for aggregate gross proceeds of up to $800,000.
• The offering consists of up to 16 million common shares issued at a price of $0.05 per share.
• Proceeds will be allocated to advancing the Lake Cargelligo gold project to drill-ready status, exploring the Lac Iris polymetallic project, and general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Gross Proceeds: Up to $800,000.
• Share Quantity: Up to 16,000,000 common shares.
• Issue Price: $0.05 per share.
• Use of Proceeds:
  • Advancing the Lake Cargelligo gold project (New South Wales, Australia) to drill-ready status.
  • Exploration at the Lac Iris polymetallic project (Quebec, Canada).
  • General working capital purposes.
• Finders' Fees: Up to 8% cash may be paid to qualified finders.
• Hold Period: All securities are subject to a statutory hold period of four months and one day from the issuance date.
• Closing Date: Expected to take place on March 27, 2026.
• Qualified Person: Andrew Watson, PEng, President and CEO, has reviewed and approved the scientific and technical information regarding the mineral projects.