The 19-year-old frontman recently returned from a similar spell with Bamber Bridge who are in the same division as the Dolly Blues.
Rodwell-Grant came through PNE’s academy and has played twice for the first team, coming on as a substitute in August against Mansfield Town in the Carabao Cup and in the Championship clash against Swansea at Deepdale.
He will spend a month at Lancaster on a youth loan which still allows him to train at PNE and play in reserve games if there are no fixture clashes.
North End now have seven players out on loan - Jordan Storey (Sheffield Wednesday), Josh Harrop (Fleetwood), Adam O’Reilly(St Patrick’s Athletic), Jamie Thomas (FC Halifax), Lewis Coulton (Warrington Town), Jacob Holland-Wilkinson (Bamber Bridge) and now Rodwell-Grant.

5. Cherries told Lawrence price
Bournemouth have been told to double their initial £250,000 bid for Derby captain Tom Lawrence by the Rams’ administrators, who want cash upfront. (Mirror) (Photo by Mark Thompson/Getty Images) | Getty Images

6. Dembele rejects move
Peterborough attacker Siriki Dembele has rejected a potential £1.5m move to Birmingham City. Sheffield United were heavily linked with the player over the summer. (Football Insider) (Photo by Julian Finney/Getty Images) | Getty Images

7. Barnsley want Bassi
Barnsley are keen on signing Metz midfielder Amine Bassi. (Yorkshire Post) (Photo by ROMAIN PERROCHEAU/AFP via Getty Images) | AFP via Getty Images

8. Blackpool eye Norburn
Blackpool are interested in making a ‘surprise’ raid for Peterborough United’s Ollie Norburn. (The Sun) (Photo by Marc Atkins/Getty Images) | Getty Images