Eureka Lithium Corp Completes LIFE Financing

Vancouver, September 27, 2024 - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka Lithium" or "Eureka" or the "Company") is pleased to announce, further to its news releases on August 14, 2024 and September 24, 2024, that it has closed a non-brokered private placement financing, issuing 4,633,000 units of the Company ("Units") for gross proceeds of $694,950 (the "Private Placement").

Each Unit consists of one (1) common share in the authorized share structure of the Company ("Share") and one (1) Share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase a Share at an exercise price of $0.205 for a period of 24 months from the date of issuance.

In connection with closing of the Private Placement, the Company paid cash finder's fees in the aggregate of $19,771.50 and issued a total of 131,810 finder's warrants (each, a "Finder's Warrant"). Each Finder's Warrant is exercisable into a Share at an exercise price of $0.205 until for a period of 24 months from the date of issuance. The Finder's Warrants are subject to a statutory hold period of four months and one day following the closing date of the Private Placement in accordance with applicable Canadian securities laws. The net proceeds from the Private Placement are intended to be used for exploration expenses on the Company's Nunavik properties and for general and administrative expenditures.

The Units issued under the Private Placement were sold to purchasers pursuant to the listed issuer financing exemption ("LIFE Exemption") under Part 5A of National Instrument 45-106 - Prospectus Exemptions, in all the provinces of Canada, except Quebec. Because the Private Placement was 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.

An amended offering document dated September 24, 2024 relating to the Private Placement, amending the offering document dated Augst 14, 2024, was posted under the Company's profile at www.sedarplus.ca, on the Company's website at www.eurekalithiumcorp.com, and was delivered to prospective subscribers prior to closing of the Private Placement.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or available exemptions from such registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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% ownership of three projects comprising 1,408 sq. km 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.

Cautionary Statement

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the use of proceeds from the Private Placement, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224804