Vancouver, British Columbia--(ACN Newswire - March 5, 2026) - Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF0) ("Lancaster" or the "Company") announces the director resignation of Penny White, effective March 3, 2026. The Board thanks Penny White for her valuable contributions during her tenure and wishes her continued success in her future endeavors.

The Company is also pleased to announce the appointment of Mr. Rob Heaslop, as a director to the company's Board of Directors, effective immediately.

Mr. Heaslop is a geologist with 20 years' of exploration and resource development experience in Africa, Australia, and the Pacific with specific expertise in project generation and early stage targeting for precious and base metal deposits. Mr. Heaslop holds a Bachelor of Science (Hons) from The University of Queensland majoring in earth science and geology, and during his career has worked for major, junior, and private exploration and mining companies. In 2016, Mr. Heaslop founded his privately owned project generation company, MRG Resources Pty Ltd, that has created significant value identifying exploration opportunities in Australia, including deals with major and mid-tier mining houses and private exploration companies. Mr. Heaslop is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM), Australian Institute of Geoscientists (MAIG), and the Society of Economic Geologists (SEG).

"We are thrilled to welcome Mr. Heaslop to the Board," said Andrew Watson, President & CEO of Lancaster Resources. "His technical expertise will be invaluable as Lancaster continues to develop our Lake Cargelligo gold project, Lac Iris polymetallic asset, and our other critical and precious mineral assets."

Rob Heaslop commented, "I am focused on the opportunities ahead and committed to help navigate a successful exploration program for our projects and shareholders. I am truly excited to continue working with the team here."

The new board appointment reflects Lancaster Resources' transition to a new corporate direction and commitment to strengthening its leadership and strategic capabilities to enhance shareholder value and propel the company's growth in the mining industry.

Andrew Watson, P.Eng., 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 a Director and the President and CEO of Lancaster and is not independent of the Company.

About Lancaster Resources Inc.

Lancaster Resources Inc. is a Canadian exploration company advancing a diversified portfolio of gold and silver exploration projects in established mining jurisdictions. The Company holds a 100% 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-one jurisdictions.

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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286260

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