Lancaster Resources Inc. announced a non-brokered private placement of up to 3,750,000 flow-through shares at a price of CAD 0.08 per share for the gross proceeds of CAD 300,000 and up to 10,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 500,000, for aggregate total gross proceeds of CAD 800,000 on November 7, 2023. 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 CAD 0.07 per share for a period of five years. Finder's 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.