Lancaster Resources Commences Field Work for Maiden NI 43-101 Technical Report at Lake Cargelligo Gold Project, Australia

Core Viewpoint - Lancaster Resources Inc. has initiated desk and field work at its 100%-owned Lake Cargelligo Gold Project in New South Wales, Australia, marking a significant step towards completing its maiden National Instrument 43-101 Technical Report, which is essential for advancing the project [1][3]. Group 1: Project Details - The Lake Cargelligo Project spans 28,768 hectares and is strategically located in the Lachlan Fold Belt, known for its historical high-grade gold and silver occurrences [2]. - Initial field activities will involve geological mapping and rock chip sampling to refine exploration targets and prepare for a focused drilling program [2]. Group 2: Historical Results and Future Plans - Historical work on the project has yielded impressive results, including rock chip samples with grades up to 204 g/t Au and 273 g/t Ag, and channel sampling intercepts of up to 16m at 5.83 g/t Au and 7.20 g/t Ag [8]. - The company aims to complete the NI 43-101 Technical Report by August 31, 2025, which will serve as a foundation for systematic exploration and resource definition [3]. Group 3: Investor Relations - Lancaster Resources has engaged Ora IR Services Inc. for investor relations support, granting them 1,800,000 stock options at an exercise price of $0.10 per share, with anticipated monthly cash compensation between $10,000 and $20,000 [4]. Group 4: Company Overview - Lancaster Resources Inc. is focused on building a portfolio of exploration assets, holding interests in various projects including the Piney Lake Gold Project in Saskatchewan and uranium projects in the Athabasca Basin, in addition to the Lake Cargelligo Gold Project [6].