Lancaster Resources Inc. — Proxy Solicitation & Information Statement 2024

Feb 23, 2024

LANCASTER RESOURCES INC.

Security Class : Common Shares

FORM OF PROXY

Annual General & Special Meeting to be held on Friday, March 15, 2024

This Form of Proxy is solicited by and on behalf of Management.

Notes to proxy

Every holder has the right to appoint some other person or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a person or company other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided.

If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. If you are voting on behalf of a corporation or another individual, you must sign this proxy with the signing capacity stated, and you may be required to provide documentation evidencing your power to sign this proxy.

This proxy should be signed in the exact manner as the name(s) appear(s) on the proxy.

If this proxy is not dated, it will be deemed to bear the date on which it is mailed by Management to the holder.

If you appoint the Management Nominees to vote your securities, they will vote in accordance with your instructions or, if no instructions are given, in accordance with the Management Voting Recommendations highlighted for each Resolution overleaf. If you appoint someone else to vote your securities, they will also vote in accordance with your instructions or, if no instructions are given, as they at their discretion, choose.

This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting or other matters that may properly come before the meeting or any adjournment or postponement thereof.

This proxy should be read in conjunction with the accompanying documentation provided by Management.

Proxies submitted must be received by 10:00 A.M., Pacific Time, on Wednesday, March 13, 2024, or in the case of any adjournment or postponement of the Meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting.

Proxies submitted must be received by 10:00 A.M., Pacific Time, on Wednesday, March 13, 2024, or in the case of any adjournment or postponement of the Meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting.	Proxies submitted must be received by 10:00 A.M., Pacific Time, on Wednesday, March 13, 2024, or in the case of any adjournment or postponement of the Meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting.
VOTING METHODS
MAIL or HAND DELIVERY	Endeavor Trust Corporation 702 – 777 Hornby Street Vancouver, BC V6Z 1S4
FACSIMILE – 24 Hours a Day	604-559-8908
EMAIL	proxy@endeavortrust.com
ONLINE	As listed on Form of Proxy or Voter Information Card

If you vote by FAX, EMAIL or On-Line, DO NOT mail back this proxy.

Voting by mail, fax or email is the only method by which a holder may appoint a person as proxyholder other than the Management nominees named on the reverse of this proxy.

LANCASTER RESOURCES INC.

Appointment of Proxyholder

I/We, being holder(s) of Lancaster Print the name of the person you are Resources Inc., hereby appoint: OR appointing if this person is someone Penny White, CEO and other than the Management Nominee President, or, failing her, Rick listed herein. Huang, CFO and Corporate Secretary .

as my/our proxyholder with full power of substitution and to attend, act and vote for and on behalf of the shareholder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and all other matters that may properly come before the Annual General and Special Meeting of shareholders of Lancaster Resources Inc. to be held at 2569 Marine Drive, West Vancouver, BC, V7V 1L on March 15, 2024 at 10:00 A.M. Pacific Time, and at any adjournment or postponement thereof.

VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.

1. Election of Directors

1. Election of Directors For Withhold i) Penny White □ □ ii) Stephen Andrew Watson □ □ iii) Heather Williamson □ □ iv) Daniel Kang □ □

2. Appointment of Auditor

To ratify the appointment of SATURNA GROUP CHARTERED PROFESSIONAL ACCOUNTANTS LLP for the years ended November 30, 2022, and November 30, 2021, and to appoint SATURNA GROUP CHARTERED PROFESSIONAL ACCOUNTANTS LLP. as auditor of the Company for the ensuing year and to ratify and authorize the directors to fix their remuneration;

For Withhold □ □

3. Approval of Special Resolution

To consider, in accordance with the interim order of the Supreme Court of British Columbia dated February 2, 2024, and, if deemed advisable, to pass, with or without variation, a special resolution approving a statutory plan of arrangement between Lancaster Resources Inc. and Nelson Lake Copper Corp. under Division 5 of Part 9 of the Business Corporations Act (British Columbia) the full text of which is set forth in Appendix A to the accompanying management information circular.

For Against □ □

Authorized Signature(s) – This section must be Signature(s) completed for your instructions to be executed.

I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting Print Name(s) & Signing Capacity(ies), if applicable instructions are indicated above, this Proxy will be voted as recommended by Management.

__________ Date (MM-DD-YY) THIS PROXY MUST BE DATED