File: Attachment 25.11.21 PR Closes Financing.pdf

Not for distribution to United States newswire services or for dissemination in the United States.

November 21, 2025

Lancaster Resources Closes $500K in Financing and Upsizes Offering Due to Increased Investor Demand

Vancouver, British Columbia - Lancaster Resources Inc. (CSE:LCR | OTC:LANRF | FRA:6UF0) (the "Company" or "Lancaster") is pleased to announce that it has successfully closed its previously announced non-brokered private placement financing, raising gross proceeds of C$500,000 in cash through the issuance of 10,000,000 units at a price of C$0.05 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 & CEO. "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 $0.08 for a period of two years. The Company issued 40,000 finder's warrants to purchase shares at $0.08 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%-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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein 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 applicable state securities laws. Accordingly, such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption therefrom. Any public offering of securities in the United States may only be made by means of a prospectus containing detailed information about the Company and its management, as well as financial statements.

About Lancaster Resources Inc.

Lancaster Resources owns 100% of the Lake Cargelligo Gold Project in New South Wales, Australia, a district-scale land package of ~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 multi-element 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.

Andrew Watson, President & Chief Executive Officer, Lancaster Resources Inc. andrew@lancaster-resources.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 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.