Lancaster Resources Inc. announced the signing of a non-binding letter of intent with KorrAI Technologies Inc. This strategic partnership aims to redefine the exploration landscape for lithium, uranium, rare earth elements (REE), and other critical minerals, marking a significant milestone for both organizations. The collaboration between Lancaster Resources and KorrAI holds the promise of transforming the current exploration paradigm through the use of cutting-edge hyper-spectral imaging technology. KorrAI's innovative approach will enhance the efficiency and accuracy of mineral exploration, particularly in the pursuit of lithium and other critical minerals that are a vital component for advancing green energy technologies.

KorrAI's hyper-spectral imaging technology enables a comprehensive analysis of numerous spectral imaging technologies, providing valuable insights into the presence of lithium, uranium, REEs, and other critical minerals. The advanced capabilities of KorrAI's technology have the potential to streamline exploration efforts, reduce environmental impact, optimize resource discovery, and lead to significant production much faster. While the letter of intent is non-binding, both companies are committed to advancing discussions towards a formalized agreement.

The collaboration aims to leverage the strengths of each organization, combining Lancaster Resources' expertise in lithium exploration with KorrAI's cutting-edge technology to drive innovation in the exploration and extraction of critical minerals. Lancaster plans to conduct exploration activities with a holistic view of stakeholder interests. Recognizing the importance of the diverse interests of various stakeholders, Lancaster will review and consider the environmental, social, and economic impacts of all its planned activities.