Eureka Metals Outlines Maiden Drill Program at KM98 Hook Target
Eureka Metals Outlines Maiden Drill Program
at KM98 Hook Target
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - Eureka Metals Corp. (CSE:
ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka" or the "Company") is pleased to announce plans for
an initial eight-hole drill program at the Hook Target on its KM98 Project ("KM98" or the "Project"),
located approximately 60 km north of Havre-Saint-Pierre, Québec.
The program will drill from four approved drill sites, with individual holes planned to a maximum depth of
approximately 200 m, to determine whether the large geophysical targets identified beneath and
between known surface occurrences represent extensions or additional bodies of the titanium-bearing
oxide mineralization identified at surface.
Highlights:
High-grade titanium mineralization at surface:
Sampling at the North area returned up to
28.50% TiO
₂
, 66.31% Fe
₂
O
₃
and 2,085 ppm vanadium from massive oxide mineralization.
Drilling to test an approximately 5 km prospective trend:
The Hook Target combines
titanium-bearing massive and semi-massive oxide mineralization at surface with large geophysical
targets beneath and between the known occurrences.
Large, untested Center target:
3D magnetic inversion modelling indicates a sizeable magnetic
body between the mineralized North and South areas, extending from near surface to depth and
not previously tested by drilling.
Eight-hole initial drill program:
Eight holes from four approved drill sites are planned to test
known surface mineralization and the larger targets identified by geophysics.
First subsurface test of Hook:
Drilling will begin testing the potential scale and geometry of
oxide mineralization beneath the Hook Target and provide information to refine future drilling.
"Hook gives us an opportunity to test whether the high-grade titanium mineralization we have
identified at surface is part of a much larger mineralized system at depth,"
said Danny Matthews, Chief
Executive Officer of Eureka Metals.
"We have titanium-bearing massive oxide mineralization at
multiple locations along an approximately 5 km prospective trend and a large, untested geophysical
target between the known surface occurrences. With our first drill program at Hook, we are now moving
from surface discoveries and geophysical targets to directly testing the potential scale of the system
below surface."
Figure 1: Hook Target showing the approximately 5 km prospective trend defined by magnetic and
electromagnetic geophysics, known surface mineralization and proposed drill locations.
To view an enhanced version of this graphic, please visit:
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Hook Target
Prospecting at Hook in 2024 identified titanium-bearing massive and semi-massive oxide mineralization
at the North and South areas. At North, a grab sample of massive oxide containing greater than 65%
visually estimated mineralization returned 28.50% TiO
₂
, 66.31% Fe
₂
O
₃
and 2,085 ppm vanadium.
Airborne geophysical data and subsequent 3D magnetic inversion modelling indicate substantially larger
targets beneath and between the known surface occurrences. In particular, the Center area contains a
sizeable magnetic target extending from near surface to depth. Center has no surface assay results or
bedrock observations and has never been drill tested.
The initial drilling will test beneath known surface mineralization as well as the Center target to begin
determining how the mineralization observed at surface relates to the larger geophysical footprint at
depth.
Figure 2: Proposed diamond drill holes at the North and South areas plotted on a 3D magnetic vector
inversion (MVI) model from the 2023 AirTEM survey.
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Initial Drill Program
The current drill plan consists of eight proposed holes from four approved drill sites across the South,
Center and North areas. Individual holes are planned to maximum depths of approximately 200 m.
Drilling is expected to begin in areas where titanium-bearing massive and semi-massive oxide
mineralization has already been identified at surface before progressing to the Center target. The
program is designed to test whether the large geophysical targets correspond to massive oxide bodies
beneath surface and, where mineralization is encountered, begin establishing its thickness, orientation
and composition.
Drill targeting is being refined using the Project's magnetic and electromagnetic geophysical datasets.
Magnetic susceptibility and conductivity measurements are also planned on drill core to correlate the
geology encountered in drilling with the airborne geophysical responses and assist in refining future drill
targets.
Final hole depths, orientations, sequencing and total metres completed may be adjusted based on
geological observations, drilling performance and the available operating window.
KM98 Exploration Program
The Hook drill program follows the Company's recently announced stripping and channel sampling
program at the Roadside Target. Roadside and Hook are separate exploration targets, with Hook
representing the Company's priority drill target at KM98.
Site preparation is underway, with drill mobilization anticipated in early September. The Company will
provide a further update once drilling has commenced.
About the KM98 Project
The KM98 Project is located approximately 60 km north of Havre-Saint-Pierre, Québec, within the
Havre-Saint-Pierre Anorthosite Complex. The Project hosts multiple titanium-iron-vanadium exploration
targets associated with oxide mineralization identified through historical exploration, airborne
geophysics and surface sampling.
Eureka holds an option to acquire an interest in the KM98 Project pursuant to the terms previously
disclosed by the Company.
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. 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 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; an option to
acquire up to an 80% interest in the KM98 Titanium Project in Québec; and an option to acquire a 100%
interest in the Cabin Lake Polymetallic Project in British Columbia, prospective for silver-lead-zinc-gold
mineralization.
ON BEHALF OF THE BOARD
Danny Matthews
Chief Executive Officer
Contact email:
Forward-Looking Statements
Certain statements contained in this news release, including statements relating to the proposed drill
program at the KM98 Project, anticipated drill mobilization, proposed drill locations, orientations, depths
and sequencing, the amount of drilling that may be completed, the objectives of the drill program,
interpretations of geophysical data, the potential relationship between geophysical targets and surface
mineralization, and the Company's future exploration plans, constitute forward-looking information within
the meaning of applicable securities laws.
Such forward-looking statements reflect management's current expectations and are based on certain
factors and assumptions and involve known and unknown risks and uncertainties which may cause
actual results, performance or achievements to differ materially from those 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 undertakes no obligation to
update forward-looking statements except as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents
of this press release.
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