Mr. Michael Sweatman reports

EUREKA PROVIDES CORPORATE UPDATE

Eureka Resources Inc. has provided a summary of its past year's accomplishments and an indication of plans for 2017.

Since assuming management of Eureka in June, 2015, the company has achieved some significant milestones. Michael Sweatman, the company's president, stated, "Despite a volatile market and continued challenges in the capital markets, we have achieved significant steps building our portfolio of properties."

The company plans to advance on several fronts during 2017, adding to its geological database on its properties and conducting a number of initiatives. These include:

• Geophysics at Luxor project and Tak property in Yukon in the second quarter of 2017;
• Geology and drilling at Gold Creek the second and third quarters of 2017 to earn the company's 100-per-cent interest;
• Drilling at Gemini in March, 2017;
• Possible additional property acquisitions.

Highlights from 2015/2016

• Share price was four cents at the October, 2015, financial year-end, compared with 10 cents today -- an increase of 250 per cent;
• Market cap was $1,095,889 at Oct. 31 2015, compared with $5,073,097 today -- an increase of over four times;
• Increased from one property in October, 2015, to four today;
• Optioned one property (FG) to Canarc Resource Corp., with $3-million to be spent to earn 75 per cent;
• Earned 50-per-cent interest in the Gemini lithium property;
• Earned 49-per-cent interest in 36,000-hectare Gold Creek property in British Columbia, with the ability to increase to 100 per cent;
• Purchased 100-per-cent interest in approximately 10,000 hectares in the heart of the historic Klondike district.

The company announces that, pursuant to its stock option plan, it has granted stock options to certain directors, employees and consultants of the company to purchase an aggregate 950,000 common shares in the capital of the company at an exercise price of 13 cents per share which expire on Jan. 16, 2022.

About Eureka

The company's FG project is an advanced-stage gold project currently under option to Canarc, and its Gold Creek property is a grassroots project located next to and with similar geology to Spanish Mountain.

Eureka has recently concluded the purchase of the Luxor project in the famous and very active Dawson Range gold belt of western Yukon and has a pending acquisition of the Tak property, which is subject only to regulatory approval.

Eureka also owns a 50-per-cent interest in the Gemini lithium brine project located in the Lida Valley.

John R. Kerr, PEng, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101 and has reviewed and approved the technical information described in this news release.

We seek Safe Harbor.