Latest news with #LancasterResourcesInc
Business Upturn
3 days ago
- Business
- Business Upturn
Lancaster Resources Announces Closing Conditions Met for Lake Cargelligo Acquisition
VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) — Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF0) ('Lancaster'), is pleased to announce it has received approval from the Canadian Securities Exchange to complete the acquisition of the Lake Cargelligo Gold Project and has today completed the $400,000 non-brokered private placement financing as announced on April 23, 2025, which was fully subscribed. With all key conditions met, Lancaster expects the acquisition to close imminently. Lake Cargelligo Gold Project Highlights: District-scale opportunity: 28,768 hectares in a single, contiguous claim with over 25 km of prospective strike and three primary target zones. High-grade results: Historical sampling includes results up to 204 g/t Au and 273 g/t Ag from rock chips, and up to 16m @ 5.83 g/t Au and 7.20 g/t Ag from channel sampling.1 Acquisition Terms Under the terms of the definitive agreement, Lancaster will acquire a 100% interest in the Lake Cargelligo Gold Project. The total consideration for the acquisition is payable as follows: $10,000 in cash at closing; 10,000,000 common shares with voluntary resale restrictions, released over a 24-month period in staged tranches starting four months after closing. No finders' fees are payable in connection with the acquisition. The vendors will retain a 2% net smelter returns (NSR) royalty on all mineral production. Lancaster may repurchase 1% of the NSR for $2,000,000. The remaining 1% is subject to a repurchase right at fair market value based on a discounted cash flow valuation. Lancaster must incur $400,000 in exploration expenditures within 12 months of closing as an initial work commitment. Failure to do so, after a 60-day cure period, allows the vendors to reacquire the Project for $10,000. A second work commitment of $3,000,000 over 36 months is optional, with similar cure rights for the vendors to reacquire the Project for $50,000. Milestone payments of up to $3.68 million are payable as follows: $30,000 on completion of the first geophysics program; $50,000 on commencement of the first drill program; $50,000 upon raising $1,000,000 post-closing; $50,000 upon receipt of conditional ASX listing approval; $500,000 on a NI 43-101 or JORC-compliant 1Moz gold resource; $1,000,000 on a NI 43-101 or JORC-compliant PEA for a 1Moz resource; $2,000,000 on a NI 43-101 or JORC-compliant PFS for a 1Moz resource. Management Commentary 'With gold reaching record highs and demand remaining robust, we believe Lake Cargelligo is a timely and strategic addition to our portfolio,' said Lancaster CEO Andrew Watson. 'Our team is preparing a Phase 1 exploration program for Summer/Fall 2025 aimed at unlocking the Project's excellent geological and geochemical potential.' All exploration results are historical in nature and have not been verified by a Qualified Person under NI 43-101. The Company considers these results relevant for exploration purposes but not necessarily indicative of mineralization on the property. Andrew Watson, President and 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 not independent of the Company. About Lancaster Resources Inc. Lancaster Resources Inc. is a Canadian exploration company focused on advancing a diversified portfolio of critical mineral and precious metal assets. The Company holds a 100% interest in the Piney Lake Gold Project in Saskatchewan and maintains additional uranium exploration projects at Catley Lake and Centennial East in the Athabasca basin, Saskatchewan, as well as the Alkali Flat Lithium Project in New Mexico. Lancaster has also signed a definitive agreement to acquire the Lake Cargelligo Gold Project in New South Wales, Australia. Andrew Watson, President & Chief Executive Officer, Lancaster Resources Inc. [email protected] Tel: 604 923 6100 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, ability to complete the acquisition of the Lake Cargelligo Gold Project, 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 Sources include: (1) Carpentaria Exploration Ltd., 2014 Annual Report for EL8095; (2) Aberfoyle Exploration Pty Ltd., First and Final Report for EL1770, June 1982; (3) Lachlan Resources N.L., First Six-Month Progress Report for EL2914; and (4) MinView database from the Geological Survey of NSW ( nview ). Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
4 days ago
- Business
- Yahoo
Lancaster Resources Announces Closing Conditions Met for Lake Cargelligo Acquisition
VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF0) ('Lancaster'), is pleased to announce it has received approval from the Canadian Securities Exchange to complete the acquisition of the Lake Cargelligo Gold Project and has today completed the $400,000 non-brokered private placement financing as announced on April 23, 2025, which was fully subscribed. With all key conditions met, Lancaster expects the acquisition to close imminently. Lake Cargelligo Gold Project Highlights: District-scale opportunity: 28,768 hectares in a single, contiguous claim with over 25 km of prospective strike and three primary target zones. High-grade results: Historical sampling includes results up to 204 g/t Au and 273 g/t Ag from rock chips, and up to 16m @ 5.83 g/t Au and 7.20 g/t Ag from channel sampling.1 Acquisition Terms Under the terms of the definitive agreement, Lancaster will acquire a 100% interest in the Lake Cargelligo Gold Project. The total consideration for the acquisition is payable as follows: $10,000 in cash at closing; 10,000,000 common shares with voluntary resale restrictions, released over a 24-month period in staged tranches starting four months after closing. No finders' fees are payable in connection with the acquisition. The vendors will retain a 2% net smelter returns (NSR) royalty on all mineral production. Lancaster may repurchase 1% of the NSR for $2,000,000. The remaining 1% is subject to a repurchase right at fair market value based on a discounted cash flow valuation. Lancaster must incur $400,000 in exploration expenditures within 12 months of closing as an initial work commitment. Failure to do so, after a 60-day cure period, allows the vendors to reacquire the Project for $10,000. A second work commitment of $3,000,000 over 36 months is optional, with similar cure rights for the vendors to reacquire the Project for $50,000. Milestone payments of up to $3.68 million are payable as follows: $30,000 on completion of the first geophysics program; $50,000 on commencement of the first drill program; $50,000 upon raising $1,000,000 post-closing; $50,000 upon receipt of conditional ASX listing approval; $500,000 on a NI 43-101 or JORC-compliant 1Moz gold resource; $1,000,000 on a NI 43-101 or JORC-compliant PEA for a 1Moz resource; $2,000,000 on a NI 43-101 or JORC-compliant PFS for a 1Moz resource. Management Commentary 'With gold reaching record highs and demand remaining robust, we believe Lake Cargelligo is a timely and strategic addition to our portfolio,' said Lancaster CEO Andrew Watson. 'Our team is preparing a Phase 1 exploration program for Summer/Fall 2025 aimed at unlocking the Project's excellent geological and geochemical potential.' All exploration results are historical in nature and have not been verified by a Qualified Person under NI 43-101. The Company considers these results relevant for exploration purposes but not necessarily indicative of mineralization on the property. Andrew Watson, President and 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 not independent of the Company. About Lancaster Resources Inc. Lancaster Resources Inc. is a Canadian exploration company focused on advancing a diversified portfolio of critical mineral and precious metal assets. The Company holds a 100% interest in the Piney Lake Gold Project in Saskatchewan and maintains additional uranium exploration projects at Catley Lake and Centennial East in the Athabasca basin, Saskatchewan, as well as the Alkali Flat Lithium Project in New Mexico. Lancaster has also signed a definitive agreement to acquire the Lake Cargelligo Gold Project in New South Wales, Australia. Andrew Watson, President & Chief Executive Officer, Lancaster Resources Tel: 604 923 6100 The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release. 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, ability to complete the acquisition of the Lake Cargelligo Gold Project, 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 Sources include: (1) Carpentaria Exploration Ltd., 2014 Annual Report for EL8095; (2) Aberfoyle Exploration Pty Ltd., First and Final Report for EL1770, June 1982; (3) Lachlan Resources N.L., First Six-Month Progress Report for EL2914; and (4) MinView database from the Geological Survey of NSW ( in to access your portfolio
Business Upturn
15-05-2025
- Business
- Business Upturn
Lancaster Granted Exploration License at Lake Cargelligo Gold Project
VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) — Lancaster Resources Inc. (CSE:LCR) (OTC:LANRF) (FRA:6UF0) ('Lancaster'), is pleased to announce that the vendor of the Lake Cargelligo Gold Project received final approval from the State of New South Wales for an Exploration License at the Lake Cargelligo Gold Project (the 'Project') in the famed Cobar mining district of New South Wales, Australia. The Project encompasses over 28,768 hectares under a single Exploration License (EL 9775) for Group 1 Minerals. The Exploration License is for a four-year term and will expire March 26, 2029. Lancaster announced its planned acquisition of the Lake Cargelligo Gold Project on April 23, 2025. As part of the approval of the license, Lancaster, as the buyer of the project, will be required to comply with the Work Program as submitted to the State, which has a minimum exploration commitment of AUD $82,500 (approximately $74,000 CAD) over 4 years. Lancaster looks forward to completing the acquisition in June 2025 and launching initial exploration work in Q3 2025 and significantly exceeding the minimum work program. 2025 Q3 Exploration Program: Lancaster is advancing an exploration program for the Project in Q3 2025. The primary focus will be identifying gold mineralization, re-evaluating and updating detailed geological and geophysical maps, and additional surface geochemical sampling with some drilling. Project Highlights: District-scale opportunity: 28,768 hectares in a single, contiguous claim with over 25 km of prospective strike and three primary target zones. 28,768 hectares in a single, contiguous claim with over 25 km of prospective strike and three primary target zones. High-grade results: Historical sampling includes results up to 204 g/t Au and 273 g/t Ag from rock chips, and up to 16m @ 5.83 g/t Au and 7.20 g/t Ag from channel sampling. 1 Historical sampling includes results up to 204 g/t Au and 273 g/t Ag from rock chips, and up to 16m @ 5.83 g/t Au and 7.20 g/t Ag from channel sampling. Strategic location: Situated 60 km from the producing Mineral Hill Mine in one of Australia's most prolific gold regions. _________________________________ 1 Sources include: (1) Carpentaria Exploration Ltd., 2014 Annual Report for EL8095; (2) Aberfoyle Exploration Pty Ltd., First and Final Report for EL1770, June 1982; (3) Lachlan Resources N.L., First Six-Month Progress Report for EL2914; and (4) MinView database from the Geological Survey of NSW ( ). Management Comments 'Lancaster is pleased to have received a timely approval from the State of New South Wales for the Exploration License. This is an important step for us as we build on the momentum to unlock shareholder value and complete our financing for exploration in Q3 2025. We look forward to closing the private placement over the next couple of weeks and advancing all of Lancaster's precious and critical mineral projects,' said Andrew Watson, President and CEO of Lancaster Resources. All exploration results are historical in nature and have not been verified by a Qualified Person under NI 43-101. The Company considers these results relevant for exploration purposes but not necessarily indicative of mineralization on the property. Lancaster intends to close in June 2025 the acquisition of the Lake Cargelligo Gold Project and non-brokered private placement financing as announced on April 23, 2025. Andrew Watson, 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 not independent of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Lancaster Resources Inc. Lancaster Resources Inc. is a Canadian exploration company focused on advancing a diversified portfolio of critical mineral and precious metal assets. The Company holds a 100% interest in the Piney Lake Gold Project in Saskatchewan and maintains additional uranium exploration projects at Catley Lake and Centennial East in the Athabasca basin, Saskatchewan, as well as the Alkali Flat Lithium Project in New Mexico and the Trans Taiga Project in Quebec. Lancaster has also signed a definitive agreement to acquire the Lake Cargelligo Gold Project in New South Wales, Australia. Andrew Watson, President & Chief Executive Officer, Lancaster Resources Inc. [email protected] Tel: 604 923 6100 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, ability to complete the acquisition of the Lake Cargelligo Gold Project, 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 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
15-05-2025
- Business
- Yahoo
Lancaster Granted Exploration License at Lake Cargelligo Gold Project
VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR) (OTC:LANRF) (FRA:6UF0) ('Lancaster'), is pleased to announce that the vendor of the Lake Cargelligo Gold Project received final approval from the State of New South Wales for an Exploration License at the Lake Cargelligo Gold Project (the "Project") in the famed Cobar mining district of New South Wales, Australia. The Project encompasses over 28,768 hectares under a single Exploration License (EL 9775) for Group 1 Minerals. The Exploration License is for a four-year term and will expire March 26, 2029. Lancaster announced its planned acquisition of the Lake Cargelligo Gold Project on April 23, 2025. As part of the approval of the license, Lancaster, as the buyer of the project, will be required to comply with the Work Program as submitted to the State, which has a minimum exploration commitment of AUD $82,500 (approximately $74,000 CAD) over 4 years. Lancaster looks forward to completing the acquisition in June 2025 and launching initial exploration work in Q3 2025 and significantly exceeding the minimum work program. 2025 Q3 Exploration Program: Lancaster is advancing an exploration program for the Project in Q3 2025. The primary focus will be identifying gold mineralization, re-evaluating and updating detailed geological and geophysical maps, and additional surface geochemical sampling with some drilling. Project Highlights: District-scale opportunity: 28,768 hectares in a single, contiguous claim with over 25 km of prospective strike and three primary target zones. High-grade results: Historical sampling includes results up to 204 g/t Au and 273 g/t Ag from rock chips, and up to 16m @ 5.83 g/t Au and 7.20 g/t Ag from channel sampling.1 Strategic location: Situated 60 km from the producing Mineral Hill Mine in one of Australia's most prolific gold regions. _________________________________ 1 Sources include: (1) Carpentaria Exploration Ltd., 2014 Annual Report for EL8095; (2) Aberfoyle Exploration Pty Ltd., First and Final Report for EL1770, June 1982; (3) Lachlan Resources N.L., First Six-Month Progress Report for EL2914; and (4) MinView database from the Geological Survey of NSW ( Comments 'Lancaster is pleased to have received a timely approval from the State of New South Wales for the Exploration License. This is an important step for us as we build on the momentum to unlock shareholder value and complete our financing for exploration in Q3 2025. We look forward to closing the private placement over the next couple of weeks and advancing all of Lancaster's precious and critical mineral projects,' said Andrew Watson, President and CEO of Lancaster Resources. All exploration results are historical in nature and have not been verified by a Qualified Person under NI 43-101. The Company considers these results relevant for exploration purposes but not necessarily indicative of mineralization on the property. Lancaster intends to close in June 2025 the acquisition of the Lake Cargelligo Gold Project and non-brokered private placement financing as announced on April 23, 2025. Andrew Watson, 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 not independent of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Lancaster Resources Inc. Lancaster Resources Inc. is a Canadian exploration company focused on advancing a diversified portfolio of critical mineral and precious metal assets. The Company holds a 100% interest in the Piney Lake Gold Project in Saskatchewan and maintains additional uranium exploration projects at Catley Lake and Centennial East in the Athabasca basin, Saskatchewan, as well as the Alkali Flat Lithium Project in New Mexico and the Trans Taiga Project in Quebec. Lancaster has also signed a definitive agreement to acquire the Lake Cargelligo Gold Project in New South Wales, Australia. Andrew Watson, President & Chief Executive Officer, Lancaster Resources Tel: 604 923 6100 The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release. 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, ability to complete the acquisition of the Lake Cargelligo Gold Project, 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 in to access your portfolio
Hamilton Spectator
02-05-2025
- Business
- Hamilton Spectator
Lancaster Appoints Andrew Watson as President & CEO
VANCOUVER, British Columbia, May 02, 2025 (GLOBE NEWSWIRE) — Lancaster Resources Inc. (CSE:LCR | OTC Pink:LANRF | FRA:6UF0) ('Lancaster' or the 'Company') is pleased to announce the appointment of Andrew Watson as its President and Chief Executive Officer, effective May 1, 2025. Highlights: 'Uranium and lithium are essential to the global energy transition, while gold remains a vital store of value,' says Andrew Watson, Lancaster President and CEO. 'Lancaster is building a well-balanced exploration portfolio across critical minerals and precious metals, with projects located in geologically rich and politically stable regions. I'm proud to lead our team as we advance high-potential assets and deliver long-term value to shareholders.' About Andrew Watson Andrew Watson, P. Eng., brings over 23 years of multifaceted experience in engineering, operations, and corporate strategy across the critical mineral, precious metal, energy, and clean technology sectors. He has been a director of the Company since March 2024. Since joining Lancaster in June 2023 as Vice President, Engineering & Operations, Mr. Watson has played a transformative role in repositioning the Company as a dynamic exploration platform focused on both critical minerals essential to the energy transition—including lithium and uranium—and strategic precious metals like gold. Mr. Watson has led the acquisition and technical advancement of all of Lancaster's gold assets, including the 100%-owned Piney Lake Gold Project in Saskatchewan and the Lake Cargelligo Gold Project in New South Wales, Australia (subject to definitive agreement). He was also instrumental in the Company's acquisition and early-stage development of uranium assets at Catley Lake and Centennial East, located in Saskatchewan's Athabasca Basin, the most prolific uranium-producing region in the world. Prior to Lancaster, Mr. Watson served as Chief Operating Officer at Prism Diversified, where he directed technical development across over 850 square miles of lithium brine (~10.6MM T-LCE, non-compliant),battery metals, and an iron ore deposit with ~219MM tonnes Iron and Vanadium I+I. He oversaw engineering and metallurgical studies focused on the low-impact extraction of critical minerals such as vanadium, titanium, and iron, contributing to sustainable development strategies in the battery metals sector. At Hyak Energy, Mr. Watson managed the operations of a 60-million-barrel medium crude oil field in Saskatchewan. Using an Alkali-Surfactant-Polymer (ASP) chemical enhanced oil recovery method, he helped increase production by over 250%, ultimately supporting a successful corporate sale in early 2020. Beyond project development, Mr. Watson is a recognized mentor and innovator in the clean technology ecosystem. He has mentored over 50 early-stage companies through Foresight Cleantech Accelerator and Emissions Reduction Alberta, supporting commercialization strategies in mining, energy, and emissions reduction technologies. Mr. Watson holds a Bachelor of Science in Mechanical Engineering from the University of Calgary and has completed numerous advanced certifications in energy systems, resource project development, and sustainable operations. His cross-sector expertise positions him uniquely to lead Lancaster through its next stage of growth as it advances a diversified portfolio aligned with global priorities in clean energy, supply security, and resource sustainability. Leadership Transition Penny White, Lancaster's founder and former CEO, has stepped down and remains a Director of the Company, supporting long-term strategy and capital markets engagement. About Lancaster Resources Inc. Lancaster Resources Inc. (CSE:LCR) is a Canadian exploration company advancing a diversified portfolio of critical mineral and precious metal assets. The Company owns a 100% interest in the Piney Lake Gold Project in Saskatchewan and holds 100% of the Catley Lake and Centennial East uranium projects in the Athabasca Basin. Lancaster also has options to acquire lithium assets in North America and has signed a definitive agreement to acquire the Lake Cargelligo Gold Project in New South Wales, Australia. Andrew Watson, P. Eng., President & Chief Executive Officer, Lancaster Resources Inc. andrew@ Tel: 604 923 6100 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, ability to complete the acquisition of the Lake Cargelligo Gold Project, 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.
