Eureka Lithium to acquire Stairway Mining

Executive Summary

• Eureka Lithium Corp. has entered into a share purchase agreement to acquire 100% of Stairway Mining Inc., thereby gaining control of the Tyee titanium and vanadium project in Quebec and the Cabin Lake silver-gold-zinc-lead project in British Columbia.
• The transaction consideration consists of 12 million common shares of Eureka Lithium, with Stairway and its shareholders being arm's length to Eureka.
• The closing is expected on or about February 3, 2026, subject to customary conditions and regulatory approvals, including from the Canadian Securities Exchange.

Key Details

• Transaction Structure: Share purchase agreement for 100% of Stairway Mining Inc.
• Target Assets:
  • Tyee Project (Quebec): Located in the Havre-St-Pierre region within the Havre-St-Pierre anorthosite complex. Comprises 189 contiguous mineral claims covering approximately 10,136 hectares. Includes Big TiO, NS Trend, and East Nugget targets with historical geophysics and surface work.
  • Cabin Lake Project (British Columbia): Located in the Omineca mining district's Golden Triangle. Comprises six contiguous mineral claims covering approximately 2,363 hectares.
• Consideration: 12 million common shares of Eureka Lithium Corp.
• Counterparties: Stairway Mining Inc. and its shareholders (arm's length to Eureka).
• Closing Date: On or about February 3, 2026.
• Regulatory Conditions: Approval by the Canadian Securities Exchange and other customary closing conditions.
• Qualified Person: Afzaal Pirzada, MSc, PGeo, has reviewed and approved the scientific and technical disclosure.

Notable Quotes

• "We are excited about the proposed acquisition of the Tyee and Cabin Lake projects in Quebec and British Columbia," stated Dave Bowen, chief executive officer of Eureka Lithium. "These projects give Eureka exposure to mineral projects targeting exploration for important materials necessary for defence and high-tech applications."