Lancaster Resources Engages Resource Potentials to Reprocess Geophysics and Advance Exploration at Lake Cargelligo Gold Project
VANCOUVER, British Columbia, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR | OTCQ:LANRF | FRA:6UF0) (the “Company” or “Lancaster”)is pleased to announce that it has engaged Resource Potentials Pty Ltd, a leading Australian geophysical consulting firm, to reprocess existing geophysical data and support the design of future geophysical programs at its 100%-owned Lake Cargelligo Gold Project in New South Wales, Australia.
The engagement includes reprocessing and interpretation of historical airborne and ground geophysical datasets to refine the geological understanding of the Lake Cargelligo area. Findings from this work will directly inform Lancaster’s ongoing field exploration programs, guide the design of upcoming ground and airborne surveys, and refine drilling targets for spring 2026.
“Partnering with Resource Potentials strengthens our technical foundation at Lake Cargelligo,” said Andrew Watson, President & CEO of Lancaster Resources. “Their deep experience in Australian gold systems and geophysical interpretation will help accelerate our path toward drill-ready targets and ensure our exploration programs are data-driven and effective.”
Lake Cargelligo Gold Project
Located within the highly prospective Lachlan Fold Belt, the Lake Cargelligo Gold Project spans approximately 62,300 hectares across one granted exploration licence and one exploration licence application. Historical exploration in the area has identified multiple high-grade gold and silver occurrences through rock chip and channel sampling, as well as historical drilling.
Notable historical results include up to 204 g/t Au and 273 g/t Ag from rock chips, and 16 metres grading 5.83 g/t Au and 7.20 g/t Ag from channel sampling. These results are historical in nature and have not been verified by a Qualified Person under NI 43-101; they are considered relevant for exploration purposes but are not necessarily indicative of mineralization on the property.
Lancaster’s initial field program includes geological mapping, rock chip sampling, soil geochemistry, and updated geophysics. This work is designed to refine geological models, define high-priority drill targets, and support a systematic exploration strategy across the project area.
Lancaster is committed to maintaining high standards of technical reporting and responsible exploration as it advances its portfolio of gold and critical mineral assets in Australia and
About Resource Potentials Pty Ltd.
Resource Potentials is a Western Australia-based consultancy specializing in geophysical data analysis and exploration targeting. With a strong track record of supporting successful mineral discoveries, the firm brings significant regional expertise and modern interpretation techniques to the Lake Cargelligo project.
The Company also announces that Daniel Kang has resigned from the Board of Directors, effective as of the date of this release. The Board thanks Mr. Kang for his long-standing contributions and dedication to Lancaster and wishes him continued success in his future endeavours. The Company has initiated a process to identify and appoint a new director and will provide updates as appropriate.
Andrew Watson, President & Chief Executive Officer, Lancaster Resources Inc.
andrew@lancasterlithium.com
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, raise capital, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties constitutes 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.
© 2025 GlobeNewswire, Inc. All Rights Reserved.
