Mr. Danny Matthews reports

EUREKA COMMENCES STRIPPING AND CHANNEL SAMPLING PROGRAM AT KM98 TITANIUM PROJECT

Eureka Metals Corp. has commenced its inaugural exploration program at the recently optioned KM98 titanium project in Quebec, with field crews now on site at the Roadside target ahead of mechanical stripping across an approximately 100-metre-by-20-metre target area.

The program marks Eureka's first fieldwork at KM98 since optioning the project in July, 2026, and initiates an active exploration program that will also include the company's planned maiden diamond drilling program.

Highlights:

• Mechanical stripping across 100 m by 20 m of targeted bedrock exposure is planned at the Roadside target, followed by geological mapping and channel sampling.
• Field crews are currently on site, with mechanical stripping expected to commence today.
• Historical exploration identified massive and semi-massive oxide mineralization at surface, with previous sampling conducted along approximately 240 m of the Roadside area.
• Channel sampling across newly exposed bedrock is designed to provide new information on the distribution and grade of mineralization at the Roadside target.
• Eureka is concurrently advancing preparations for its maiden diamond drilling program at KM98, with details of the drill program to be announced separately.

Danny Matthews, chief executive officer of Eureka, commented: "We moved quickly to begin work at KM98 following the option agreement in July. Historical work identified massive and semi-massive oxide mineralization at the Roadside target, and we are now advancing the target by exposing a substantial area of bedrock for detailed mapping and channel sampling. At the same time, preparations are advancing for our maiden drill program, marking the start of an active period of exploration at KM98."

An excavator is mobilizing to the Roadside target for approximately four days of mechanical stripping. The work is designed to expose bedrock across an approximately 100-metre-by-20-metre area for geological mapping and detailed channel sampling. Following stripping and cleaning of the exposed bedrock, the field team expects to complete approximately two days of mapping and channel sampling, with approximately 50 channel samples contemplated.

The program is being managed by IOS Geosciences Inc., which has also conducted previous exploration and metallurgical work at KM98.

Roadside target

The Roadside target is located along a prominent magnetic trend with direct access from the Romaine IV government service road. Historical exploration identified massive and semi-massive oxide mineralization at surface within the Roadside area.

In 2025, 10 large surface samples, each weighing approximately 10 to 15 kilograms, were collected from outcrop and subcrop along approximately 240 metres of the Roadside area. These samples were subsequently used in bench-scale metallurgical testing conducted by IOS.

As previously disclosed by Eureka, historical bench-scale metallurgical testing by Go Metals on Roadside material produced separate magnetite and ilmenite concentrates using magnetic and gravity separation techniques. Test work reported an iron concentrate grading up to 68.5 per cent iron with associated vanadium values and an ilmenite concentrate grading up to 48.4 per cent TiO2 (titanium dioxide).

Eureka's current program is intended to build on the historical surface work by mechanically exposing a substantial area of bedrock for detailed geological mapping and channel sampling. The program is expected to provide additional information regarding the distribution and grade of oxide mineralization across the newly exposed area.

Following completion of the field program, samples will be sent to Chicoutimi for quality assurance/quality control insertion before being shipped for assay.

About the KM98 titanium project

KM98 is located approximately 60 kilometres north of Havre-Saint-Pierre, Que., within the Havre-Saint-Pierre anorthosite complex and approximately 45 kilometres southwest of Eureka's flagship Tyee titanium project.

Historical exploration at KM98 has identified semi-massive to massive magnetite-ilmenite oxide mineralization. The project benefits from direct access through the Romaine IV government service road and existing permits for trenching and diamond drilling.

In July, 2026, Eureka entered into an option agreement with Go Metals, pursuant to which the company has the exclusive right to earn up to an 80-per-cent interest in KM98.

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. The company has not independently verified all historical exploration data generated by previous operators and referenced in this news release.

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 up to an 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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