Eureka Completes Acquisition of Stairway Mining Corp., Securing 100% Interest in the Polymetallic Cabin Lake and Titanium-Vanadium Tyee Projects

Executive Summary

• Eureka Lithium completed the acquisition of 100 % interests in the Cabin Lake (BC) and Tyee (Quebec) projects by issuing 9,100,000 common shares to Stairway Mining shareholders.
• A conditional cash milestone payment of CAD 1,000,000 will be paid if Eureka files technical reports, delivers a mineral resource estimate, and releases a preliminary economic assessment within specified timeframes.
• The acquisition expands Eureka’s portfolio beyond lithium into polymetallic and titanium‑vanadium assets located in mining‑friendly jurisdictions with existing infrastructure.

Key Details

• Consideration: 9,100,000 Eureka common shares issued on a pro‑rata basis to Stairway shareholders (hold period of 4 months + 1 day).
• Milestone Cash Payment: Up to CAD 1,000,000 payable proportionally if:
  1. Technical reports filed on SEDAR+ within 6 months of the Share Purchase Agreement (SPA) date.
  2. A mineral resource estimate disclosed for at least one property within 9 months.
  3. A preliminary economic assessment disclosed for at least one property within 15 months.
• Original Consideration (Jan 28, 2026 release): 12,000,000 shares with no cash milestone; terms were amended due to CSE hold‑period policy constraints.
• Cabin Lake Project: ~2,363 ha across six contiguous claims in the Omineca Mining District, BC; prospective for Zn, Pb, Cu, Mo, Ag; adjacent to Endako and Blackwater mines.
• Tyee Project: ~10,136 ha covering 189 contiguous claims in the Havre‑St‑Pierre Anorthosite Complex, Quebec; prospective for Ti and V; near world‑class Lac Tio titanium deposit.
• Strategic Rationale (CEO Quote): “The acquisition… represents a strategic expansion of Eureka’s asset base beyond lithium and into high‑conviction polymetallic and titanium‑vanadium prospective projects.” – Dave Bowen, CEO.
• Qualified Person: Afzaal Pirzada, M.Sc., P.GEO., reviewed and approved the scientific and technical disclosure (NI 43‑101).

Notable Quotes

“Both projects are located in mining‑friendly jurisdictions with strong infrastructure and district‑scale geological potential. These projects give Eureka exposure to mineral projects targeting exploration for important materials necessary for defence, electrification and advanced manufacturing.” – Dave Bowen, CEO, Eureka Lithium Corp.