Vancouver, British Columbia--(Newsfile Corp. - June 3, 2026) - Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka" or the "Company") is pleased to announce the mobilization of its Phase 1 summer prospecting program at the Company's 100%-owned Tyee Titanium Project (the "Project") located near Havre-Saint-Pierre, Québec.

Highlights

• Eureka has mobilized crews for its Phase 1 2026 exploration program at the Tyee Titanium Project in Québec

• Program to evaluate high-priority targets including Big Tio, NS Trend, and East Nugget

• Historical surface sampling returned average grades of up to 36.07% TiO2 at Big Tio

• Multiple untested electromagnetic ("EM") anomalies generated from historical airborne SkyTEM surveys to be evaluated

• Helicopter-supported field program scheduled through June 17, 2026

• Results expected to assist in prioritizing additional geophysical surveying and follow-up exploration activities later in the 2026 field season

"With multiple high-grade titanium targets, strong geophysical signatures, and several untested EM anomalies identified across the Project, we believe Tyee represents one of the more compelling emerging titanium exploration stories in Québec," stated Danny Matthews, CEO. "This program is designed to rapidly advance several priority target areas while continuing to unlock the broader exploration potential of the district."

Phase 1 Prospecting Program

The program is being managed by IOS Geosciences and represents the first phase of Eureka's planned 2026 exploration campaign at Tyee. A four-person field crew mobilized to Havre-Saint-Pierre on May 28, 2026, with helicopter-supported prospecting operations expected to continue through June 17, 2026.

The Phase 1 program will focus on a combination of newly identified EM anomalies and several of the Company's highest-priority historical target areas, including Big Tio, NS Trend, and East Nugget. These targets were identified through previous prospecting, geophysical surveying, and sampling campaigns completed across the Project and are associated with strong conductive and magnetic signatures interpreted to reflect extensive titanium-vanadium-scandium mineralization.

Historical Target Areas

Historical surface sampling at Big Tio returned average grades of 36.07% TiO2 from 12 grab samples, while the NS Trend target returned average grades of 31.89% TiO2 across 15 grab samples and an interpreted strike length of approximately 2.3 kilometres. East Nugget returned average grades of 34.50% TiO2 across 3 grab samples. The Company believes these targets highlight the scale potential and high-grade nature of titanium mineralization across the Tyee district and warrant systematic follow-up exploration.

Figure 1. Historical titanium target areas identified at the Tyee Titanium Project, including Big Tio, NS Trend, and East Nugget. The figure also highlights the Project's location within the Havre-Saint-Pierre anorthosite complex near Rio Tinto's Lac Tio deposit, one of the world's largest hard rock titanium deposits.

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Untested SkyTEM EM Anomalies

In addition to the historically identified targets, the current program will evaluate multiple additional EM anomalies generated from extensive airborne SkyTEM geophysical surveying previously completed across the Project area. Numerous conductive targets identified by the surveys remain only partially evaluated or entirely untested by previous field programs. The Company believes several of these anomalies warrant additional follow-up geophysical work and detailed ground evaluation.

Prospecting activities will utilize portable "beep mat" systems, which have previously demonstrated effectiveness in identifying massive oxide mineralization within the district. The Company believes this approach may assist in rapidly evaluating both newly identified EM anomalies and recognized mineralized corridors across the Project's titanium-vanadium-scandium prospective trends.

Figure 2. Surface exposure of titanium-bearing ilmenite mineralization at the NS Trend target area at the Tyee Titanium Project.

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The program will include geological mapping, prospecting, and rock sampling designed to refine geological interpretations and expand known mineralized trends. Results from the Phase 1 program are expected to assist the Company in prioritizing additional geophysical surveying and follow-up exploration activities planned for later in the 2026 field season. All rock samples collected during the program will be prepared at IOS Geosciences' facilities in Saguenay, Québec, before being submitted to accredited analytical laboratories for assay and geochemical analysis.

The Tyee Titanium Project is located within the Havre-Saint-Pierre anorthosite complex on Québec's North Shore, approximately 140 kilometres north of Havre-Saint-Pierre. The district hosts Rio Tinto's nearby Lac Tio deposit, one of the world's largest hard rock titanium deposits, and remains significantly underexplored despite its favorable geological setting and extensive critical metals potential.

The Company also announces that it has granted an aggregate of 100,000 incentive stock options (the "Options") to certain consultants of the Company pursuant to its omnibus equity incentive plan. The Options are exercisable at a price of $0.45 per common share for a period of three years from the date of grant.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Ryan Versloot, P.Geo., a technical advisor to the Company and a Qualified Person as defined under National Instrument 43-101.

About Eureka Metals Corp.

Eureka Metals Corp. is a Canadian mineral exploration company focused on the acquisition and advancement of exploration projects in Canada. The Company holds a 100% interest in the Tyee Titanium Project in Québec, prospective for titanium-vanadium-scandium mineralization, and an option to acquire a 100% interest in the Cabin Lake Polymetallic Project in British Columbia, prospective for silver-lead-zinc-gold mineralization.

Cautionary Statement

Certain statements contained in this news release, including statements which may contain words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts 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.

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