Lancaster Resources Acquires Piney Lake Gold Property

Lancaster Resources Acquires Piney Lake Gold Property

Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (" Lancaster" or the " Company " ) a North American critical minerals exploration company, is excited to announce the acquisition of the Piney Lake Gold Property.

Property Overview

The Piney Lake Gold Property, covering an area of 2,267.8 hectares, is nestled approximately 65 kilometres east of La Ronge Provincial Park and a mere 2.5 kilometres east of North Arrow Minerals' Pikoo property. Encircled by the prolific gold claims of SGO / SSR Mining, the Piney Lake claim is in a region with a storied history of mineral discoveries. Access to the Piney Lake property is facilitated by provincial highways, placing it about 18 kilometres to the southwest of Pelican Narrows via Highway 135 and similarly accessible to Deschambault Lake via Highway 911. The Company acquired the property by staking claims directly in Saskatchewan, Canada.

Management cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of the presence of similar mineralization or geology on Lancaster's properties.

Geological Significance

Piney Lake is strategically positioned within the Glennie Domain, an area known for its mafic to mafelsic rock. The property is characterized by basic volcanics, quartz diorite-tonalite to granodiorite, and quartz-diorite lithology, suggesting rich potential for gold mineralization. Notably, the Tabbernor fault and shear zone lie just past the eastern border of the property.

Geochemical Highlights

Historical geochemical samplings for Piney Lake mention significant gold showings identified along a north-south trend. These include concentrations of 7.55g/T Au approximately 375 meters north, and an impressive 41.35g/T Au approximately 4.1 kilometres north, among others. These findings underscore the high-grade gold potential awaiting Lancaster's exploration team and the use of modern exploration techniques.

Exploration Legacy

The area around Piney Lake has seen very limited recent exploration activities. Placer Dome Mines in the 1990s and, more recently, the Thurloe Gold Syndicate between 2010 and 2012 were the more recent forays in the area. North Arrow Minerals' discovery of diamonds in 2013, followed by Alto Minerals' exploration in 2014, emphasizes the properties' mineralization and exploration upside for gold, copper, and other minerals.

"The acquisition of the Piney Lake Gold Property is an exciting project to add to our growing exploration portfolio," says Penny White, President and Chief Executive Officer of Lancaster.

Andrew Watson, PEng, a qualified person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Watson is VP, Engineering and Operations and a Director of Lancaster Resources Inc.

About Lancaster Resources Inc.

Lancaster Resources (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring lithium and uranium and other critical minerals. Its Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, involves the exploration of a below-surface lithium brine target. Lancaster's goal at Alkali Flat is to produce Net-Zero Lithium through the use of direct lithium extraction (DLE) technology and solar power. Lancaster is also collaborating to deploy advanced satellite hyperspectral acquisition, geospatial data aggregation, and AI-driven predictive modelling services exploration.

Lancaster holds a 100-per-cent interest in the Catley Lalk and Centennial East Uranium projects in the Athabasca basin in Saskatchewan, Canada. Lancaster's project portfolio includes rights to acquire the Trans-Taiga Lithium Property located within the James Bay lithium district of Quebec. It also has a minority interest in Nelson Lake Copper Corp., an unlisted reporting issuer which owns 100-per-cent of the Nelson Lake Copper Project in Saskatchewan, Canada. Lancaster is in the process of divesting a majority of its ownership in Nelson Lake through a spin-off transaction. Guiding Lancaster's journey is a skilled management and technical team with collective involvement in over 15 commercial mineral discoveries and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of exploration projects across Canada, the American West, Mexico, and South America.

Penny White, President & Chief Executive Officer
Lancaster Resources Inc.
Email: penny@lancasterlithium.com
Tel: 604 923 6100
Website: www.lancaster-resources.com

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 obtain financing and maintain ownership of its portfolio of properties by meeting payment and expenditure requirements. the ability of Lancaster to execute its exploration plans, obtain exploration and drilling permits, raise capital, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties, and integrate sustainable energy sources and innovative technologies for climate-positive resource production 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.

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.


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Report Highlights

Reducing our carbon footprint

  • Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis.
  • 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year.
  • Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.

Practicing responsible freshwater management

  • Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target.
  • In Chile , we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project.
  • At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.

Supporting our customers' sustainability goals

  • We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China .

Promoting the resilience of our communities

  • A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.

To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com .
The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle  
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

FORWARD-LOOKING STATEMENTS

The 2024 Sustainability Report and our sustainability webpage contain statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will." Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov .

Media Contact:  
Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com

Investor Relations Contact:  
+1 (980) 299-5700, invest@albemarle.com

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

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SOURCE Albemarle Corporation

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