Mr. Andrew Watson reports

LANCASTER RESOURCES CLOSES $500K IN FINANCING AND UPSIZES OFFERING DUE TO INCREASED INVESTOR DEMAND

Lancaster Resources Inc. has successfully closed its previously announced non-brokered private placement financing, raising gross proceeds of $500,000 in cash through the issuance of 10 million units at a price of five cents per unit.

Due to increased investor demand, the company is upsizing the financing by $300,000, bringing the total offering to $800,000. The expanded financing will enable the company to accept new capital and complete debt conversions, providing enhanced flexibility to accelerate exploration.

"We're pleased to close the initial $500,000 and appreciate the strong support that led to the upsize," said Andrew Watson, president and chief executive officer. "This capital allows us to continue advancing exploration at Lake Cargelligo, where we see significant gold discovery potential."

Each unit consists of one share and one warrant to purchase an additional share for eight cents for a period of two years. The company issued 40,000 finders' warrants to purchase shares at eight cents per share for two years and paid a cash commission of $2,000 to a registered broker in connection with the financing. All securities issued pursuant to the financing, including finders' warrants, are subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

Lancaster plans to use funds from the financing to support its exploration program at its 100-per-cent-owned Lake Cargelligo gold project in New South Wales, Australia, as well as marketing and general working capital purposes. It is anticipated that management will participate for up to $200,000 in the increased financing.

About Lancaster Resources Inc.

Lancaster Resources owns 100 per cent of the Lake Cargelligo gold project in New South Wales, Australia, a district-scale land package of approximately 62,168 hectares with roughly 75 kilometres of highly prospective strike in the Cobar mining district. The project hosts multiple intrusion-related and orogenic gold targets along an 18-kilometre granite sediment contact zone, characterized by widespread multielement pathfinder anomalies and large, untested geophysical and geochemical trends. With no modern geophysics previously completed, Lake Cargelligo offers exceptional discovery potential and is being advanced toward targeted drilling in 2026, supported by an extraordinary technical team with decades of discovery experience in Australia and globally. Lancaster also holds complementary gold, uranium and polymetallic assets in Saskatchewan and Quebec, providing additional exploration optionality and upside.

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