Mr. Jeffrey Wilson reports

EUREKA LITHIUM CORP ANNOUNCES PRIVATE PLACEMENT

Eureka Lithium Corp. intends to complete a non-brokered private placement financing of up to two million units of the company at a price of 50 cents per unit for aggregate gross proceeds of up to $1-million.

Each unit shall consist of one common share in the capital of the company and one-half of one share purchase warrant, with each warrant entitling the holder thereof to purchase a share at an exercise price of 65 cents for a period of 24 months from the date of issuance.

Closing of the private placement is anticipated to occur on or about the week of Oct. 30, 2023. Closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the private placement are intended to be used to advance the company's Raglan West, Raglan South and New Leaf camps and for general corporate purposes. Finders' fees may be paid to eligible arm's-length persons with respect to certain subscriptions accepted by the company.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units issuable under the private placement will be offered for sale to purchasers resident in Canada and other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106. Because the private placement is to be completed pursuant to the life exemption, the securities issued in connection with the private placement will not be subject to resale restrictions in accordance with applicable Canadian securities laws.

There is an offering document dated Oct. 6, 2023, related to the private placement, that can be viewed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Eureka Lithium Corp.

Eureka Lithium is the largest lithium-focused landowner in the northern third of Quebec, known as the Nunavik region, with 100-per-cent ownership of three projects comprising 1,408 square kilometres in the emerging Raglan West, Raglan South and New Leaf lithium camps. These claims were acquired from legendary prospector Shawn Ryan and are located in a region that hosts two operating nickel mines with deep-sea port access.

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