Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) - Eureka Metals Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka" or the "Company") is pleased to announce that it has entered into a definitive option agreement (the "Option Agreement") with Go Metals Corp. ("Go Metals") pursuant to which Eureka has been granted the exclusive right to earn up to an 80% interest in the KM98 Titanium Project ("KM98" or the "Project"), located approximately 45 kilometres southwest of the Company's flagship Tyee Titanium Project in Québec.
The acquisition significantly expands Eureka's titanium portfolio in Québec's Havre-Saint-Pierre ("HSP") region. Together, Tyee and KM98 establish a growing pipeline of titanium exploration opportunities in one of North America's premier titanium regions while strengthening Eureka's exposure to titanium and vanadium, two critical minerals recognized by both Canada and the United States as strategically important to future industrial, aerospace and defence supply chains.
Eureka expects to commence its inaugural exploration program at KM98 later this summer. Additional details regarding the planned exploration program, including drill targets, geological rationale and overall scope, will be announced prior to mobilization.
Highlights
Option to acquire the drill-ready KM98 Titanium Project, located approximately 45 km from Eureka's Tyee Project.
Existing permits in place for trenching and diamond drilling.
Recent exploration included geophysics, geochemical sampling and metallurgical testing.
Metallurgical testing produced separate green iron and titanium concentrates using conventional processing methods.
District-scale titanium-bearing oxide system extending approximately five kilometres.
Initial exploration program planned for later this summer.
"Our objective is to build one of Canada's leading titanium-focused exploration companies, and KM98 is an excellent strategic fit," commented Danny Matthews, Chief Executive Officer of Eureka Metals. "The Project expands our footprint in Québec's HSP region, complements our flagship Tyee Project and broadens our titanium exploration strategy by adding a second highly prospective project with distinct geological characteristics. Importantly, KM98 is already permitted for trenching and drilling, benefits from excellent infrastructure and is supported by encouraging historical exploration and metallurgical work. Together with our ongoing work at Tyee and the continued advancement of Cabin Lake, we believe Eureka is well positioned to deliver a steady pipeline of exploration catalysts through the balance of 2026."