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

30.10.2025 | GlobeNewswire

Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF) ("Lancaster" or the "Company") reports new LiDAR and field data analysis revealing multiple gold-bearing targets and previously unmapped vein systems at its 100% owned Lake Cargelligo Gold Project in New South Wales, Australia. The new data sets were acquired during an on-site field visit and through data acquisition as part of the Company's ongoing Phase 1 exploration program.

LiDAR and Field Trip Highlights

Extensive Strike Length: 75km of prospective granite-sedimentary contact strike length now secured by Lancaster's tenure, which is largely unexplored;
Multiple Vein Systems: Newly mapped veins and historical workings at the Greater Avoca prospect, where historical rock-chip sampling returned up to 3.66 g/t Au.¹
Josephine Moulder Trend: The system remains open northward, supported by widespread Au-Ag-Te-Bi-As-Mo-Sb anomalies in historical auger drilling at Josephine Moulder North ².
Newly Defined Targets: LiDAR interpretation revealed unrecorded clusters of potential old workings and vein swarms between Josephine Moulder and Avoca, including three large-scale zones along the Central Contact that have seen no previous exploration.
Soil and Geochemical Anomalies: Historical data indicates Au-As-Cu-Zn anomalies along the Central Contact strike from LiDAR-interpreted veins, reinforcing the district-scale mineralization model.
Eastern Contact Opportunity: Widespread untested features-including possible workings and quartz veins-extend over > 5 km along the Eastern Contact, an area with no recorded exploration.
Additional Upside: Early evidence of tin (Sn) enrichment highlights potential for additional mineralization in parallel with gold-silver exploration.

Target Prospects

Figure 1: Lake Cargelligo Prospect Map

Previous exploration at the project focused on the Josephine Moulder - Mount Wilga prospects, where auriferous veins-breccias outcrop over hundreds of meters, with significant historical workings, within sedimentary rocks proximal to the Ungarie Granite contact. Minimal historical exploration has occurred beyond these prospects despite a large strike length of the prospective granite-sedimentary contact outcropping or lying under shallow cover.

Lancaster's endeavours at the Lake Cargelligo Project are gaining momentum with the Company's initial site visit to confirm historical exploration reports, publication of its NI 43-101 Technical Report, and interpretation of LiDAR data now complete. Additionally, an in-depth review of existing geophysical data and targeting study by an expert, independent consultancy is nearing completion.

Through the use of systematic, results-based exploration programs, the Company aims to assess the Lake Cargellico Project in a holistic manner, principally for large-scale Au-Ag mineralization as well as for Sn-W enrichment.

Josephine Moulder / Mt. Wilga Prospect:

Four rock samples were taken as previously announced;
Several rock chips with visible gold were not sampled to ensure representative sampling of the exposed mineralization system:
- Returned up to 31.5g/T-Au and 114g/T-Ag³, along with highly anomalous pathfinder geochemistry⁴.
The Josephine Moulder system likely remains open northward with widespread Au-Ag-Te-Bi-As-Mo-Sb anomalism in historical auger drilling at Josephine Moulder North.

Figure 2: Figure 2

Figure 3: Rock chip sample, not assayed, showing visible gold

Avoca and North Quarry:

Large gravel pit lying north of the historical Avoca mine shaft and its associated line of old pits:
- Avoca shaft had a peak historical rock chip of 3.66g/T-Au, ~13m deep along >300m trend⁵.
6 rock chips sampled as per previously announced;
Highly anomalous pathfinder geochemistry (Au-Ag-As-Bi-Sb) supports significant further exploration;
Lancaster reconnaissance identified a large, new veining zone north of Avoca, which was previously unsampled, that returned strongly anomalous Au-Bi-Te and lies subparallel to the Avoca line of workings, along with numerous other potential veins and workings interpreted in LiDAR data over the Greater Avoca prospect; and,
Supported additional land acquisition as previously announced along granite-sedimentary contact.

Figure 4: LCR Avoca-North Quarry Prospect Area Map

New Target Areas:

Interpretation of existing LiDAR data and legacy soil sampling geochemistry has identified a number of new target areas at the project that fall along the Central and Eastern Contacts - being the prospective contact of Ungarie Granite and hosting sedimentary lithologies - while the Western Contact falls under shallow cover. Combined, Lancaster's tenure now hosts ~75km of prospective granite-sedimentary contact, much of it completely unexplored. New target areas include:

A potential northwest-southeast trending vein swarm along the Central Contact ~3km south of Avoca within EL 9775 and possibly extending undercover into ELA 6970;
Potential additional workings in the greater Avoca-North Quarry area;
Potential cluster of unrecorded historical pits and trenches identified along the Central Contact ~6km north of Avoca within EL 9775;
Potential ~4km long, open-ended anomalous Au-As-Cu-Zn-(Pb) soil trend along the Central Contact, with a potential northwest-southeast vein swarm occurring immediately to the south; and,
Potential ~5km strike of historical workings occurring extensively along the Eastern Contact.

In addition to a Au-Ag focus, the Company also considers Lake Cargelligo prospective for Sn-W mineralization and will look at advancing exploration for both commodity target suites in parallel.

Figure 5: Lake Cargelligo Contact Map

"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. We remain focused on building the value of this highly prospective property," said Andrew Watson, President and CEO of Lancaster Resources.

The samples were taken by the Lancaster Australia team with the aim of confirming historically reported rock chip grades as previously announced. Further field exploration is required to continue the validation of LiDAR-identified features and upside. LiDAR is typically used to identify areas of interest, veins, historical workings, outcropping, etc.

Andrew Watson, P.Eng., President & CEO and a Director of the Company, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Watson has reviewed and approved the scientific and technical information contained in this news release. Mr. Watson is a Director and the President and CEO of Lancaster and is not independent of the Company.

About Lancaster Resources Inc.

Lancaster is focused on building a portfolio of district-scale exploration assets positioned for future resource development. The Company holds a 100% interest in the Piney Lake Gold Project in Saskatchewan, uranium projects at Catley Lake and Centennial East in the Athabasca Basin, and the Lac Iris Polymetallic Project in Quebec's James Bay region, where it also holds an option to acquire the Trans-Taiga property. In Australia, Lancaster owns the Lake Cargelligo Gold Project in New South Wales, covering ~62,300 hectares with c. 75 km of prospective strike and multiple primary target zones.

Andrew Watson, President & Chief Executive Officer,
Lancaster Resources Inc.
Andrew@lancaster-resources.com
Tel: 604 923 6100

www.lancaster-resources.com

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events, or Lancaster's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lancaster's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, raise capital, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

^¹ ^{Talbot, M., 2014, Advene - Exploration Licence 8095 Annual Report for the 12 Months Ending 27 May 2014, Carpentaria Exploration Ltd., DIGS Report RE0006371 (GS2014/1533), Sample 13920}
^{² https://www.resources.nsw.gov.au/geological-survey/digs}
^{³ https://lancaster-resources.com/lancaster-resources-rock-assay-results-from-lake-cargelligo-gold-project/ (Sept 24, 2025)}
^{⁴ https://lancaster-resources.com/lancaster-resources-rock-assay-results-from-lake-cargelligo-gold-project/ (Sept 24, 2025)}
^⁵ ^{Talbot, M., 2014, Advene - Exploration Licence 8095 Annual Report for the 12 Months Ending 27 May 2014, Carpentaria Exploration Ltd., DIGS Report RE0006371 (GS2014/1533), Sample 13920}

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