Business
Eureka Completes Acquisition of Stairway Mining Corp., Securing 100% Interest in the Polymetallic Cabin Lake and Titanium-Vanadium Tyee Projects
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka Lithium" or "Eureka" or the "Company") is pleased to announce, further to its news release dated January 28, 2026, that it has completed the acquisition ("Acquisition") of a 100% interest in the Cabin Lake Polymetallic Project, located in the Omineca Mining District of British Columbia, and of a 100% interest in the Tyee Titanium-Vanadium Project, located within
About this update from Eureka Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka Lithium" or "Eureka" or the "Company") is pleased to announce, further to its news release dated January 28, 2026, that it has completed the acquisition ("Acquisition") of a 100% interest in the Cabin Lake Polymetallic Project, located in the Omineca Mining District of British Columbia, and of a 100% interest in the Tyee Titanium-Vanadium Project, located within the Havre-St-Pierre region of Quebec (together, the "Properties"), through its acquisition of all the issued and outstanding shares ("Stairway Shares") of Stairway Mining Inc. ("Stairway").","length":760,"tagName":"p"},{"type":"text","content":"The Acquisition was made pursuant to the terms of an amended and restated share purchase agreement ("Share Purchase Agreement") dated February 20, 2026, under which Eureka acquired the Stairway Shares in exchange for an aggregate of 9,100,000 common shares of Eureka, issued to Stairway Shareholders on a pro rata basis ("Consideration Shares"). In addition, Eureka has agreed to make a milestone cash payment of, in aggregate, CAD $1,000,000 (the "Milestone Payment", and together with the Consideration Shares, the "Consideration") to former Stairway Shareholders, on a pro rata basis, in the event that all of the following milestones are achieved: (i) Eureka files a technical report for each of the Properties on SEDAR+ within six months of the date of the Share Purchase Agreement; (ii) Eureka delineates and publicly discloses a mineral resource estimate in respect of at least one the Properties within nine months of the date of the Share Purchase Agreement; and (iii) Eureka publicly discloses a preliminary economic assessment in respect of at least one of the Properties within 15 months of the date of the Share Purchase Agreement. The Consideration Shares are subject to a hold period of four months and one day from the date of issuance. The Company notes that, as disclosed in its January 28, 2026 news release, the original consideration contemplated to be paid for the Acquisition was 12,000,000 common shares of Eureka, with no Milestone Payment. These terms were amended as a result of the Comp...