Lancaster Resources Inc. Expands Exploration in Quebec’s James Bay with Lac Iris Polymetallic Project Acquisition

Core Viewpoint - Lancaster Resources Inc. has acquired a 100% interest in the Lac Iris Polymetallic Project in Quebec, enhancing its exploration portfolio in the James Bay region, which is known for significant mineral discoveries [1][3][7]. Acquisition Details - The Lac Iris Polymetallic Project spans approximately 1,443 hectares and is located 5 km south of notable discoveries by Power Metallic Inc. The property is adjacent to the Li-FT Power Ltd. Rupert Lithium Project and is situated along the same geological trend as the Whabouchi Lithium pegmatite deposit and the NISK polymetallic high-grade nickel-copper sulphide deposit [1][5][6]. - The acquisition complements Lancaster's existing option on the Trans-Taiga Project, also located in James Bay, and supports the company's strategy to diversify its exploration projects [7][11]. Strategic Importance - The James Bay region is emerging as a key area for polymetallic and lithium exploration in Canada, with the Whabouchi mine operated by Nemaska Lithium located just 11 km north of the Lac Iris Project [6][7]. - The acquisition is expected to unlock shareholder value and build on the momentum from previous acquisitions, including the Lake Cargelligo project in Australia [3][7]. Planned Activities - Lancaster plans to initiate an exploration campaign on the Lac Iris Property aimed at identifying polymetallic and lithium-rich areas, constructing detailed geological maps, and evaluating the high-value metals content through sampling [8]. Access and Infrastructure - The Lac Iris Property has year-round access via Route du Nord Road and is located approximately 43 km east of the airport and village of Nemiscau, QC, with hydroelectric transmission lines crossing the property [9].