Lancaster Resources Completes Acquisition of Lac Iris Polymetallic Project

VANCOUVER, British Columbia, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF) (“Lancaster”), is pleased to announce that it has acquired a 100% interest in the Lac Iris Polymetallic Project in the James Bay region of Quebec through directly staked mineral claims that have been reviewed and approved by the Québec mining authority, Ministère des Ressources naturelles et des Forêts, (MRNF).

Acquisition Highlights

Strategic Location: The Lac Iris properties are situated just 4–5 km north and south of the Nisk and Lion discoveries by Power Nickel Inc., and are immediately adjacent to the Li-FT Power Ltd. Rupert Lithium Project.
Significant Land Package: The acquisition adds approximately 694 hectares across three packages and complements Lancaster’s existing option on the Trans-Taiga Project in James Bay.
Prospective Geology: The project lies along the geological trend hosting the Whabouchi Lithium pegmatite deposit and the Nisk polymetallic nickel-copper sulphide deposit, and is positioned at the boundary between the La Grande and Opatica Subprovinces—a deep-seated crustal feature known for pegmatites and polymetallic mineralization.
Diversified Portfolio Growth: Expands Lancaster’s exploration footprint in James Bay, while complementing its uranium and gold projects in Saskatchewan and its recently completed Lake Cargelligo Gold Project in New South Wales, Australia.

“Lancaster is extremely pleased to have acquired these mineral claims. The properties significantly boost our exploration prospects in James Bay,” said Andrew Watson, President and CEO of Lancaster Resources. “This acquisition supports Lancaster’s push for precious metal discoveries, alongside our Lake Cargelligo acquisition, as we continue to build shareholder value.”

Lancaster discloses that the map contained in the June 12, 2025 news release is no longer accurate. Certain claims previously shown were rejected by the provincial government due to a technical defect. Lancaster has since directly staked new claim blocks, which have been reviewed and approved by the Québec mining authority MRNF. The map included in this news release accurately reflects the claims that have been acquired and confirmed as part of the Lac Iris Project.

The proximity of the Lac Iris Property to adjacent or nearby mineral properties, including the NISK Project and the Whabouchi Mine, is not necessarily indicative of the mineralization on the Lac Iris Property. There is no certainty that exploration on the Lac Iris Property will result in similar discoveries or resource estimates.

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 the President and CEO of Lancaster and is not independent of the Company.

About Lancaster Resources Inc.

Lancaster Resources Inc. is a Canadian exploration company advancing a portfolio of critical mineral and gold projects in established mining jurisdictions. The Company holds a 100% interest in the Lake Cargelligo Gold Project in New South Wales, Australia, covering more than 28,768 hectares with a history of drilling and exploration. In Canada, Lancaster’s assets include the Lac Iris Polymetallic Project and an option to acquire the Trans-Taiga Project in Quebec’s James Bay region, as well as the Piney Lake Gold Project and uranium projects at Catley Lake and Centennial East in Saskatchewan’s Athabasca Basin. Lancaster’s diversified land position provides exposure to gold, uranium, polymetallic, and lithium exploration opportunities.

Andrew Watson, President & Chief Executive Officer, Lancaster Resources Inc.
Andrew@lancasterlithium.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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/76cca57e-2fad-43d7-a4a2-ca54c58c35a5

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