Mr. Andrew Watson reports

LANCASTER RESOURCES ANNOUNCES FINANCING

Lancaster Resources Inc. has arranged a non-brokered private placement for aggregate gross proceeds of up to $800,000. The offering will consist of up to 16 million common shares at an issue price of five cents per share.

The proceeds from the private placement will be used for further exploration activities to advance the Lake Cargelligo gold project to drill-ready status, exploration at the Lac Iris polymetallic project and general working capital purposes.

Finders' fees of up to 8 per cent cash may be paid to qualified finders in connection with the offering. All securities issued as part of the offering will be subject to a statutory hold period of four months and one day from the issuance date.

Closing of the offering is expected to take place on March 27, 2026.

Andrew Watson, PEng, president and chief executive officer 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 a director and the president and chief executive officer of Lancaster and is not independent of the company.

About Lancaster Resources Inc.

Lancaster Resources is a Canadian exploration company advancing a diversified portfolio of gold and silver exploration projects in established mining jurisdictions. The company holds a 100-per-cent interest in the Lake Cargelligo gold project in New South Wales, Australia, which is prospective for both gold and silver mineralization, covering approximately 62,300 hectares with a history of drilling and exploration and multiple high-priority targets. In Canada, Lancaster's assets include the Lac Iris polymetallic project in Quebec's James Bay region and the Piney Lake gold project in Saskatchewan. Lancaster's portfolio provides exposure to gold, silver and polymetallic exploration opportunities across Tier 1 jurisdictions.

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