Mr. Jeffrey Wilson reports

EUREKA LITHIUM CORP ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Eureka Lithium Corp., further to its news release of Oct. 6, 2023, has closed a non-brokered private placement financing, issuing 2,152,000 units of the company for gross proceeds of $1,076,000.

Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant, with each warrant entitling the holder to purchase a share at an exercise price of 65 cents until Oct. 25, 2025.

In connection with closing of the private placement, the company paid cash finders' fees in the aggregate of $53,270 and issued a total of 106,540 finders' warrants. Each finder's warrant is exercisable into a share at an exercise price of 65 cents until Oct. 25, 2025. The net proceeds from the private placement are intended to be used to advance the company's Raglan West, Raglan South and New Leaf camps, for non-flow-through exploration and evaluation expenditures, marketing and advertising, and for general and administrative expenditures.

Because the private placement was completed pursuant to the LIFE exemption, certain securities issued in connection with the private placement will not be subject to resale restrictions in accordance with applicable Canadian securities laws.

An amended and restated offering document dated Oct. 23, 2023, relating to the private placement, amending and restating the offering document dated Oct. 6, 2023, was posted under the company's profile on SEDAR+ and on the company's website, and was delivered to prospective subscribers prior to closing of the private placement.

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 deepsea port access.

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