Lancaster Resources Advances Climate-Positive Lithium Extraction Initiatives Through Engagement with Socialsuite

June 29, 2023 7:00 AM EDT | Source: Lancaster Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - June 29, 2023) - Lancaster Resources Inc. (CSE: LCR) (OTC Pink: LANRF) (FSE: 6UF) ("Lancaster" or the "Company) is pleased to announce it has engaged Socialsuite, an ESG Impact SaaS Platform, to support Lancaster's ability to measure and report the sustainability of its current and planned operations, including its planned Climate Positive Lithium Extraction facility alongside the Alkali Flat Lithium Project in New Mexico, USA.

"Lancaster is excited to engage with Socialsuite, leveraging their expertise to accurately track and report our progress in ESG initiatives," said Penny White, CEO of Lancaster. "This collaboration will not only strengthen our position for future negotiations regarding off-take agreements resulting from successful exploration activities but also amplify our appeal to existing and prospective stakeholders."

At the Alkali Flat Project, Lancaster is actively exploring a subsurface lithium brine target. The company is assessing various Direct Lithium Extraction technologies to extract lithium from brine and is simultaneously developing a solar project to power the facility with renewable energy. By employing these advanced technologies, Lancaster aims to reduce its carbon footprint to net zero or near zero, while continuously exploring additional processes to further minimize environmental impact.

As part of the engagement with Socialsuite, Lancaster will receive a comprehensive ESG baseline disclosure report on 21 core ESG metrics, which will be made available to shareholders and stakeholders through a dedicated micro website showcasing Lancaster's ESG initiatives. Socialsuite will also conduct an ESG gap analysis to identify areas for future improvement.

Seth Forman, President of ESG at Socialsuite, emphasized the significance of a baseline ESG report for public companies. He stated, "It is important for companies to report material ESG issues to meet the expectations of capital markets and investors. Additionally ESG reporting is becoming increasingly important through the off-take agreement process with large multinational companies expecting their suppliers to track and measure their ESG metrics. We are delighted to welcome Lancaster Resources to our platform, enhancing their ability to report their sustainability initiatives effectively."

About Socialsuite

Socialsuite is an ESG technology platform with customers across North America and Australia. Socialsuite's products simplify ESG disclosure for publicly traded companies across six major exchanges. Socialsuite has offices in Austin, Texas and Melbourne, Australia.

Contact Information:

Seth Forman, President of ESG, Socialsuite
Tel: 914 924 7870

About Lancaster Resources Inc.

Lancaster Resources is engaged in exploring energy transition metals to take advantage of the global shift towards decarbonization and electrification. Its Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, involves the exploration of a below-surface lithium brine target. Lancaster's goal is to produce Climate-Positive Lithium. Lancaster's strategic plan includes the utilization of direct lithium extraction (DLE) and the application of solar power to bring the carbon footprint of its prospective lithium extraction facility close to net-zero. Lancaster's endeavors align with the vision of leveraging sustainable energy sources and state-of-the-art technologies to facilitate climate-positive resource extraction. Guiding Lancaster Resources' journey is a skilled management and technical team, endowed with extensive experience in the creation of lithium brine targets and the exploration and development of Lithium projects across the American West, Mexico, and South America.

Penny White, President & Chief Executive Officer, Lancaster Resources Inc.

Tel: 604 923 6100

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events, or Lancaster's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lancaster's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to execute its exploration plans, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information.

Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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