Lancaster acquires additional claims at Lac Iris

Executive Summary

• Lancaster Resources Inc. has acquired a 100% interest in additional mineral claims, specifically Lac Iris 4, at its Lac Iris polymetallic project in the James Bay region of Quebec.
• The acquisition adds approximately 1,175 hectares to the company's portfolio, bringing the total land package at Lac Iris to approximately 1,870 hectares, representing a 170% increase.
• The new claims are strategically located near significant regional discoveries, including the Nisk and Lion polymetallic deposits by Power Metallic Mines Inc., and lie along the geological trend hosting the Whabouchi lithium pegmatite and Nisk nickel-copper sulphide deposits.

Key Details

• Asset Acquired: 100% interest in mineral claims designated as Lac Iris 4.
• Acquisition Method: Directly staked mineral applications reviewed and approved by the Quebec mining authority (Ministere des Resources Naturelles et des Forets).
• Land Size Added: Approximately 1,175 hectares.
• Total Project Size: Approximately 1,870 hectares (an increase of ~170% from previous holdings).
• Location: James Bay region, Quebec.
• Proximity to Neighbors:
  • 10–11 km southeast of the Nisk and Lion discoveries (Power Metallic Mines Inc.).
  • 7.5 km from the Lac Iris claims previously announced on August 27, 2025.
• Geological Context:
  • Situated along the geological trend hosting the Whabouchi lithium pegmatite deposit.
  • Located along the trend of the Nisk polymetallic nickel-copper sulphide deposit.
  • Positioned at the boundary between the La Grande and Opatica subprovinces, a crustal feature known for pegmatites and polymetallic mineralization.
• Strategic Impact: Strengthens the exploration footprint in the Nemaska area and complements the company's Lake Cargelligo gold project in New South Wales, Australia.
• Qualified Person: Andrew Watson, PEng, President and CEO, has reviewed and approved the scientific and technical information.

Notable Quotes

• "Lancaster is very excited about securing these mineral claims. The properties greatly enhance our exploration potential in the James Bay region," said Andrew Watson, president and chief executive officer of Lancaster Resources. "This addition strengthens Lancaster's pursuit of precious and critical metal discoveries, complementing our Lake Cargelligo district-scale gold project, as we remain focused on growing shareholder value."