Vancouver, British Columbia – Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (the “Company”) is pleased to announce that it is offering a non-brokered private placement for aggregate gross proceeds of up to $200,000 (the “Offering“).  The Offering will consist of up to  4,000,000 units at an issue price of $0.05 per unit, with each unit comprised of one common share and one common share purchase warrant. Each warrant will be exercisable into one common share of the Company at an exercise price of $0.08 per share for a period of three years.

The proceeds from the private placement will be used for exploration at the Alkali Flat Lithium Brine Project in New Mexico, marketing publicity, additional property acquisitions and exploration, renewable energy and DLE testing and development, salaries, consulting fees, travel expenses and debt settlement.

Finders fees of up to 8% cash and 8% warrants may be paid to 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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Closing of the Offering is expected to take place on January 31, 2024.