Vancouver, British Columbia–(Newsfile Corp. – September 18, 2026) – Lancaster Resources Inc. (CSE: LCR)(OTC Pink: LANRF) (FSE: 6UF0) (“Lancaster” or the “Corporation“) announces that it has elected to rely on CSA Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the “BlanketOrder“) and move to semi-annual reporting (“SAR“).
The Blanket Order is a Canadian securities regulators’ pilot program that allows eligible venture issuers to voluntarily move from quarterly to semi-annual financial reporting.
The Corporation’s fiscal year ends on March 31. Under the SAR pilot program, the Corporation will be exempt from filing interim financial reports and related management discussion and analysis (“MD&A“) for its first and third quarters.
Accordingly, the Corporation will not file interim financial statements or related MD&A nine-month period ending December 31, 2026, or for any subsequent three-month periods ending June 30 and nine-month periods ending December 31, respectively.
The Corporation will continue to file audited annual financial statements, annual MD&A and related annual disclosure documents (due within 120 days of March 31) and six-month interim financial reports and related MD&A (due within 60 days of September 30). The Corporation remains committed to timely disclosure and will continue to report all material changes and significant developments in accordance with National Instrument 51-102 Continuous Disclosure Obligations.
The Corporation confirms that it meets the eligibility criteria under the Blanket Order. The Corporation has determined that participation in the SAR pilot program will ease the administrative and financial burden associated with quarterly reporting and is consistent with the objectives of the Blanket Order.
This news release is being filed pursuant to CSA Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
The Corporation also announces that it has been unable to complete its previously announced financing on acceptable terms and, as a result, has commenced a review of strategic alternatives to preserve capital and maximize shareholder value. The Corporation is evaluating a range of alternatives, including additional financing, strategic partnerships, asset transactions, and other corporate opportunities.
In connection with this review and the Corporations current capital position, the Corporation has determined not to proceed with its option on the Lake Cargelligo project. The Corporation will therefore allow the option agreement to terminate and return the property to its underlying owners. This decision will eliminate future property expenditures and allow the Corporation to focus its financial resources on its highest-priority opportunities at Lac Iris in Quebec.
The Company also announces that its Chief Financial Officer, Rick Huang, resigned from the position effective August 31, 2026. The Company thanks Rick for their contributions and wishes them well in their future endeavors. The Company is evaluating its requirements for the CFO role as part of its broader strategic review and current responsibilities are being completed at the Board level.
The Corporation will provide further updates as the strategic review progresses.
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 Corporation 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.
Additional information in respect of the Corporation’s business is available under the Corporation’s SEDAR+ profile at www.sedarplus.ca.
For additional information, please contact:
Andrew Watson, President & Chief Executive Officer
Lancaster Resources Inc.
Email: Andrew@Lancaster-Resources.com
Phone: (604) 923-6100
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information. These statements include the Corporation’s transition to a semi-annual financial reporting framework, its continued eligibility under Coordinated Blanket Order 51-933, and the anticipated timing and nature of its future financial reporting obligations. The use of any words such as “will”, “expected”, “view” and similar expressions are intended to identify forward-looking information. Such statements are based on current beliefs and assumptions regarding future events.
Actual results may differ materially. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this news release are made as of the date hereof. The Corporation disclaims any intention or obligation to update or revise such information, except as required by applicable securities laws.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Corporation’s expectations as of the date hereof and are subject to change thereafter. The Corporation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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