Mr. Danny Matthews reports

EUREKA METALS IDENTIFIES FIVE NEW HIGH-GRADE TITANIUM OCCURRENCES AT TYEE, WITH SAMPLES UP TO 36.9% TIO2

Eureka Metals Corp. has released assay results from its 2026 surface exploration program at the company's 100-per-cent-owned Tyee titanium project in Quebec.

The 2026 program identified five new titanium occurrences with samples grading more than 35 per cent TiO2, materially expanding the number of high-grade titanium occurrences identified across Tyee. Assay results reached 36.87 per cent TiO2, with nine samples from the program returning more than 35 per cent TiO2.

Importantly, the high-grade results were not limited to areas where high-grade titanium had previously been identified. The 2026 program added high-grade results across multiple areas of the project, expanding the geographic distribution of known high-grade titanium mineralization at Tyee.

Highlights:

• Five new titanium occurrences returned samples grading more than 35 per cent TiO2.
• Nine samples returned more than 35 per cent TiO2, with grades ranging from 35.13 per cent to 36.87 per cent TiO2.
• The nine samples exceeding 35 per cent TiO2 also returned consistent vanadium values of approximately 0.26 per cent to 0.30 per cent V2O5.
• The five new occurrences expand the distribution of high-grade titanium mineralization beyond the principal areas identified through previous exploration at Big Tio, NS Trend and East Nugget.
• Eureka is comparing the new high-grade occurrences with its recently completed approximately 2,300-line-kilometre high-resolution airborne magnetics-electromagnetics-very-low-frequency survey to prioritize areas for follow-up exploration.

"The key result from this program is that we didn't just reproduce the high titanium grades previously found at Tyee. We found them at five new occurrences," said Danny Matthews, chief executive officer of Eureka Metals. "We now have high-grade titanium results across a much broader area of the project. With our new airborne geophysics completed, the next step is to determine which of these new occurrences may be associated with larger targets and where we should focus the next phase of exploration."

2026 exploration expands high-grade titanium mineralization

The 2026 surface exploration program was managed by IOS Geosciences and included prospecting across multiple areas of the Tyee property.

Field crews identified six new massive ilmenite occurrences during the program. Laboratory analysis has confirmed that five of these new occurrences returned samples grading more than 35 per cent TiO2.

Previous exploration had established high-grade titanium mineralization at several principal areas, including Big Tio, NS Trend and East Nugget. The 2026 results demonstrate that high-grade titanium mineralization is not limited to these previously identified areas.

The 2026 results expand the geographic distribution of samples grading more than 35 per cent TiO2 beyond the principal high-grade areas identified through previous exploration.

High-grade assay results

Nine samples from the 2026 program returned greater than 35 per cent TiO2.

The nine samples also returned vanadium values ranging from approximately 0.26 per cent to 0.30 per cent V2O5.

Grab samples are selective by nature and are not necessarily representative of mineralization hosted on the project.

Regional grade context

Tyee is located within the Havre-Saint-Pierre anorthosite complex on Quebec's North Shore, an iron-titanium oxide district that also hosts Rio Tinto's producing Lac Tio ilmenite mine, approximately 65 kilometres south of Tyee. Lac Tio has been in production since the early 1950s and is described by Rio Tinto as the world's largest solid ilmenite deposit.

Historical published geological studies of Lac Tio have reported titanium grades generally ranging from approximately 32 per cent to 38 per cent TiO2. This regional context demonstrates the high titanium grades associated with ilmenite mineralization within the Havre-Saint-Pierre anorthosite complex and provides useful context for Eureka's 2026 Tyee results of up to 36.87 per cent TiO2.

Lac Tio is a producing mining operation while Tyee is an early-stage exploration project. Mineralization at Lac Tio is not necessarily indicative of mineralization at Tyee. The company has not established a mineral resource at Tyee, and there has been insufficient exploration to determine the continuity, dimensions, tonnage, mineralogy, metallurgical characteristics or economic potential of mineralization at the project.

Integrating results with airborne geophysics

Eureka recently completed approximately 2,300 line kilometres of high-resolution airborne magnetic and EM-VLF surveying across Tyee at 50-metre line spacing.

The company is comparing the locations of the new high-grade titanium occurrences with the airborne geophysical results and historical exploration data to prioritize areas for follow-up. This work will evaluate whether the newly identified surface occurrences correspond with geophysical targets and help determine where Eureka should focus its next phase of exploration.

The company expects to provide a further update as this work advances.

Quality assurance/quality control

The 2026 surface exploration program was managed by IOS Geosciences. Rock samples were collected using a hammer and chisel, placed in plastic bags and identified using IOS's standard sample-numbering procedures. Sample bags were secured with zip ties and transported by field crews to IOS's facilities in Saguenay, Que., prior to shipment to the analytical laboratory together with quality assurance and quality control samples.

Samples were submitted to Actlabs in Ancaster, Ont., for preparation and analysis. Samples were analyzed by X-ray fluorescence on fused discs using analytical package 4C (11-plus). IOS inserted four QA/QC samples, consisting of two blanks and two certified reference materials (OREAS 86). Actlabs also conducted its internal QA/QC procedures. All QA/QC results fell within acceptable ranges.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Ryan Versloot, PGeo, a technical adviser to the company and a qualified person as defined under National Instrument 43-101.

About Eureka Metals Corp.

Eureka Metals is a Canadian mineral exploration company focused on the acquisition and advancement of exploration projects in Canada. The company holds a 100-per-cent interest in the Tyee titanium project in Quebec, prospective for titanium-vanadium-scandium mineralization; an option to acquire an up-to-80-per cent interest in the KM98 titanium project in Quebec; and an option to acquire a 100-per-cent interest in the Cabin Lake polymetallic project in British Columbia, prospective for silver-lead-zinc-gold mineralization.

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