Price had not played for Wolverhampton Wanderers in nearly two months before featuring at Deepdale.
The 23-year-old has been very much on the periphery of the club's squad under Walter Zenga and his interim successor Rob Edwards.
However, Lambert had no issue handing the midfielder a recall to the side after almost two months out of the team for the trip to Preston North End at the weekend, and he insisted that he did not regret the decision to bring him back into the fold.
"When you play lads that have not played for a long time they can get little niggles here and there at times. That's a hit you have to take," he said, as reported by the Express and Star.
Burnley's Sam Vokes and Joey Barton in action with Wolverhampton Wanderers' Jack Price
"I think it was important and he came through. He was excellent. He smells the danger and has a good eye for a pass.
"He's a clever footballer, Jack. I was delighted with the way he played."
After taking over a club that was languishing in the bottom-half of the division and had not won in their previous seven games before his arrival, it would perhaps appear that Lambert is trying to boost the morale within the squad by turning to some of the players who were struggling for chances before his appointment.
With the January transfer window just around the corner, Lambert may be looking at the next few weeks as a chance to evaluate the entire squad in an attempt to give him a better understanding of what work needs to be done during the window.
But based on his assessment of Price's performance against the Lilywhites, it appears that Lambert is certainly planning to keep the midfielder around.