Lancaster completes title transfer of Lake Cargelligo

Executive Summary

• Lancaster Resources Inc. has completed the title transfer for 100% of the Lake Cargelligo gold project, a district-scale exploration property located in the Cobar mining district of New South Wales, Australia.
• The mineral claim title for Exploration Licence 9775 is now held by Lancaster Gold Australia Pty. Ltd., a wholly owned subsidiary established to manage Australian exploration and development activities.
• The project covers approximately 62,300 hectares in total, comprising the newly transferred EL 9775 (28,768 hectares) and an additional application for ELA6970 (33,400 hectares) submitted in September 2025 and awaiting state approval.

Key Details

• Transaction Completion: Title transfer for 100% interest in the Lake Cargelligo gold project was completed effective November 17, 2025.
• Entity Structure: The asset is held by Lancaster Gold Australia Pty. Ltd., a wholly owned subsidiary of Lancaster Resources Inc.
• Property Size and Composition:
  • Total project area: ~62,300 hectares.
  • Exploration Licence 9775 (EL 9775): 28,768 hectares, held under a single exploration licence.
  • Exploration Licence Application 6970 (ELA6970): 33,400 hectares, submitted on September 22, 2025, pending final state approval.
• Historical Data: The EL 9775 area features multiple historical high-grade gold and silver occurrences identified through rock chip/channel sampling and historical drilling.
• Regulatory Disclaimer: All exploration results are historical and have not been verified by a qualified person under National Instrument 43-101; they are considered relevant for exploration purposes but not necessarily indicative of current mineralization.
• Qualified Person: Andrew Watson, PEng (President, CEO, and Director), has reviewed and approved the scientific and technical information.

Notable Quotes

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