Mr. Danny Matthews reports

EUREKA LITHIUM CORP. ANNOUNCES CLOSING OF OVERSUBSCRIBED LIFE OFFERING AND CONCURRENT PRIVATE PLACEMENTS

Eureka Lithium Corp. has closed its previously announced non-brokered private placement of a series of units of the company, including units placed (the LIFE offering) under the LIFE (defined below), for aggregated gross proceeds of approximately $6.3-million.

LIFE offering

The company issued 5,899,501 units, at a price of 42 cents per unit, for aggregate gross proceeds of $2,477,790.42, under the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Each unit comprises one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one common share at an exercise price of 50 cents for a period of 24 months.

Concurrent offerings

The company has also closed two concurrent non-brokered private placements. First, the company closed an offering of 4,515,243 units at a price of 42 cents per concurrent private placement unit, for aggregate gross proceeds of $1,896,402.06. Each concurrent private placement unit comprises one common share and one common share purchase warrant, with each concurrent private placement warrant being exercisable, for a period of 24 months, to acquire one common share at an exercise price of 50 cents. Second, the company closed an offering of 3,954,981 units, at a price of 48 cents per FT unit, for aggregate gross proceeds of $1,898,390.88. Each FT unit comprises one common share issued on a flow-through bass and one (non-flow-through) common share purchase warrant, with each FT warrant being exercisable to acquire, for a period of 24 months, one (non-flow-through) common share at an exercise price of 60 cents.

The company intends to use the net proceeds from the LIFE offering and the non-FT concurrent offering for exploration expenses on the company's properties in British Columbia, and for general and administrative expenditures, including investor relations activities. The company intends to use the net proceeds from the FT offering for exploration expenses on the company's mineral properties in British Columbia and Quebec.

Because the LIFE offering was completed pursuant to the LIFE, the securities issued in connection therewith will not be subject to resale restrictions in accordance with applicable Canadian securities laws. The securities issued in connection with the concurrent offerings will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

As consideration for the services rendered by certain finders, the company paid, in aggregate, cash fees of $265,502.43 and issued 616,132 common share purchase warrants, with each finder's warrant being exercisable for one common share at a price of 50 cents for a period of 24 months.

About Eureka Lithium Corp.

Eureka holds approximately 158 claims in the emerging Raglan West, Raglan South and New Leaf lithium camps in Quebec, Canada. The company also holds a 100-per-cent interest in the Tyee titanium-vanadium project located in Quebec and an option to acquire a 100-per-cent interest in the Cabin Lake polymetallic project located in British Columbia.

We seek Safe Harbor.