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Apex Trader Funding (ATF) - News

Lancaster Resources Announces Update on Exploration Plans at Uranium Prospective Catley Lake and Centennial East Properties in Athabasca Basin and Announces Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, June 24, 2024 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR, OTCQB:LANRF, FRA:6UF0)) ("Lancaster" and the "Company") announces an update on its exploration plans for its Uranium prospective Catley Lake & Centennial East properties in the Athabasca Basin of Saskatchewan, Canada. The Catley Lake and Centennial East properties are contiguous and together cover 8,117 hectares. The properties are immediately adjacent to the Cameco Centennial deposit claims. The Cameco Centennial deposit is located just 12km to the west and has notable uranium concentrations of up to 8.78% U3O8 over 33.9m and 25.6% U3O8 over 0.5m. Approximately 24km southwest of Lancaster's claims is the Cameco Dufferin deposit, which has shown assays of up to 1.73% U3O8 over 6.5m. 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. Exploration Plans Lancaster's exploration plans include an initial detailed surface outcrop mapping, using hyperspectral data to identify vegetation stress indicative of subsurface uranium, acquiring high-resolution optical imagery, and purchasing corrected imagery for hyperspectral analysis (HSI). The HSI results will be incorporated to support prioritizing and focusing follow-up field geology, geochemical sampling, and geophysics programs on the selected areas from the HSI program that show positive indications for uranium. Upon completion of the field work and geophysics program, target locations will be identified for an initial drilling program planned for Q4 2024. Uranium as a Clean Energy Solution Uranium is increasingly recognized as a vital component in the transition to clean energy. Nuclear power plants, which use uranium as fuel, produce no carbon emissions during operation, making them a key player in reducing greenhouse gas emissions. With its high energy density, uranium generates a substantial amount of energy from a small amount of material, resulting in a minimal environmental footprint. Moreover, nuclear energy is highly reliable and capable of providing consistent, baseload power, unlike intermittent renewable sources such as solar and wind. This reliability makes it a crucial component in ensuring a stable and clean energy supply as the world moves towards net-zero carbon emissions by 2050​ (