Eureka Lithium acquires Cabin Lake and Tyee Projects in Canada

Acquisition Overview - Eureka Lithium has completed the acquisition of a 100% stake in the Cabin Lake Polymetallic Project and the Tyee Titanium-Vanadium Project in Canada [1] - The acquisition was executed through the purchase of all issued and outstanding shares of Stairway Mining as per an amended share purchase agreement [1] Financial Terms - Under the terms of the share purchase agreement, Eureka exchanged 9,100,000 common shares and agreed to a potential milestone cash payment of C$1,000,000 (approximately $730,576) [2] - The milestone payment is contingent on specific achievements, including filing technical reports and conducting a preliminary economic assessment [2] - The initial proposal included 12,000,000 common shares without a milestone payment, which was revised due to Canadian Securities Exchange policy restrictions [3] Project Details - The Cabin Lake Project consists of six mineral claims covering approximately 2,363 hectares, with potential for zinc, lead, copper, molybdenum, and silver [4] - The Tyee Project includes 189 mineral claims totaling around 10,136 hectares, located in a major titanium-bearing district with indications of titanium and vanadium mineralization [5] Strategic Implications - The acquisition represents a strategic expansion for Eureka, moving beyond lithium into polymetallic and titanium-vanadium projects [6] - Both projects are situated in mining-friendly jurisdictions with strong infrastructure and geological potential, targeting materials essential for defense and advanced manufacturing [7]