Mr. Jeffrey Wilson reports

EUREKA LITHIUM CORP ANNOUNCES CLOSING OF $1.8 MILLION FLOW-THROUGH PRIVATE PLACEMENT

Eureka Lithium Corp., further to its news release of Nov. 24, 2023, has closed a non-brokered private placement financing, issuing 3,335,000 flow-through (FT) units of the company for gross proceeds of $1,800,900.

Each flow-through unit consists of one common share in the capital of the company that qualifies as a flow-through share, as defined in the Income Tax Act (Canada), and one-half of one share purchase warrant, with each warrant entitling the holder to purchase a share at an exercise price of 75 cents until Nov. 29, 2025.

In connection with closing of the private placement, the company paid cash finder's fees in the aggregate of $77,679 and issued a total of 143,850 finder's warrants. Each finder's warrant is exercisable into a share at an exercise price of 75 cents until Nov. 29, 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. The flow-through units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.

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Corporate presentation

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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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