Vancouver, British Columbia — February 26, 2026 — Leads & Copy — Eureka Lithium Corp. has finalized its acquisition of the Cabin Lake Polymetallic Project in British Columbia and the Tyee Titanium-Vanadium Project in Quebec.
Eureka Lithium (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) announced it has acquired 100% interest in both properties through the acquisition of all issued and outstanding shares of Stairway Mining Inc.
The acquisition, initially announced on January 28, 2026, was completed under the terms of an amended and restated share purchase agreement dated February 20, 2026. Eureka issued 9,100,000 common shares to Stairway shareholders on a pro rata basis.
Eureka has also agreed to a milestone cash payment of CAD $1,000,000 to former Stairway shareholders if the following milestones are met: filing a technical report for each property on SEDAR+ within six months of the Share Purchase Agreement date; delineating and publicly disclosing a mineral resource estimate for at least one of the properties within nine months; and publicly disclosing a preliminary economic assessment for at least one of the properties within 15 months.
The consideration shares are subject to a four-month hold period from the issuance date. The original consideration was 12,000,000 common shares of Eureka, without a milestone payment, but was amended due to restrictions on varying the four-month hold period under Canadian Securities Exchange policies.
Eureka Lithium management and the board determined the acquisition consideration through arm’s length negotiations, considering comparable transactions in the junior mining industry. Stairway originally staked or acquired the Tyee Project claims in December 2025. Eureka’s consideration was based on its assessment of exploration potential, geological merit, strategic value, and market comparables, not on Stairway’s historical staking or acquisition costs.
The Cabin Lake Project comprises six contiguous mineral claims totaling approximately 2,363 hectares in British Columbia’s Omineca Mining District. It is prospective for zinc, lead, copper, molybdenum, and silver, with multiple historical showings and a 600-meter by 1,000-meter target footprint identified through prior exploration.
The project is located near established infrastructure and operating and past-producing mines, including the Endako Mine and the Blackwater Mine.
The Tyee Project consists of 189 contiguous mineral claims covering approximately 10,136 hectares within the Havre-St-Pierre Anorthosite Complex of Quebec. The region hosts the Lac Tio Mine deposit, a titanium operation.
Tyee includes the Big TiO, NS Trend, and East Nugget targets, which have historical geophysical surveys and surface sampling and are prospective for titanium and vanadium mineralization.
Mr. Dave Bowen, CEO of Eureka Lithium Corp., stated that the acquisition of the Cabin Lake and Tyee Projects expands Eureka’s asset base beyond lithium into polymetallic and titanium-vanadium projects. He added that both projects are located in mining-friendly jurisdictions with strong infrastructure and district-scale geological potential, providing exposure to materials necessary for defense, electrification, and advanced manufacturing.
Afzaal Pirzada M.Sc., P.GEO., a consultant to the Company, has reviewed and approved the technical disclosure in this release.
Eureka Lithium is the largest lithium-focused landholder in the Nunavik region of Quebec, with 100% ownership of three projects comprising 2,108 sq. km in the Raglan West, Raglan South, and New Leaf Lithium Camps. The claims were acquired from Shawn Ryan and are located in a region that hosts two operating nickel mines with deep-sea port access.
Source: Eureka Lithium Corp.
