Lancaster Resources, is pleased to announce that it has acquired a 100% interest in the Lac Iris Polymetallic Project in the James Bay region of Quebec through directly staked mineral claims that have been reviewed and approved by the Québec mining authority, Ministère des Ressources naturelles et des Forêts, (MRNF).
Acquisition Highlights
- Strategic Location: The Lac Iris properties are situated just 4–5 km north and south of the Nisk and Lion discoveries by Power Nickel Inc., and are immediately adjacent to the Li-FT Power Ltd. Rupert Lithium Project.
- Significant Land Package: The acquisition adds approximately 694 hectares across three packages and complements Lancaster’s existing option on the Trans-Taiga Project in James Bay.
- Prospective Geology: The project lies along the geological trend hosting the Whabouchi Lithium pegmatite deposit and the Nisk polymetallic nickel-copper sulphide deposit, and is positioned at the boundary between the La Grande and Opatica Subprovinces—a deep-seated crustal feature known for pegmatites and polymetallic mineralization.
- Diversified Portfolio Growth: Expands Lancaster’s exploration footprint in James Bay, while complementing its uranium and gold projects in Saskatchewan and its recently completed Lake Cargelligo Gold Project in New South Wales, Australia.
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“Lancaster is extremely pleased to have acquired these mineral claims. The properties significantly boost our exploration prospects in James Bay,” said Andrew Watson, President and CEO of Lancaster Resources. “This acquisition supports Lancaster’s push for precious metal discoveries, alongside our Lake Cargelligo acquisition, as we continue to build shareholder value.”
Lancaster discloses that the map contained in the June 12, 2025 news release is no longer accurate. Certain claims previously shown were rejected by the provincial government due to a technical defect. Lancaster has since directly staked new claim blocks, which have been reviewed and approved by the Québec mining authority MRNF. The map included in this news release accurately reflects the claims that have been acquired and confirmed as part of the Lac Iris Project.
The proximity of the Lac Iris Property to adjacent or nearby mineral properties, including the NISK Project and the Whabouchi Mine, is not necessarily indicative of the mineralization on the Lac Iris Property. There is no certainty that exploration on the Lac Iris Property will result in similar discoveries or resource estimates.
Andrew Watson, P.Eng., President & CEO and a Director of the Company, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Watson has reviewed and approved the scientific and technical information contained in this news release. Mr. Watson is the President and CEO of Lancaster and is not independent of the Company.
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