Eureka Announces Closing of Financing

Vancouver, British Columbia, – October 2, 2015 – Eureka Resources Inc. (“Eureka” or the “Company”) (TSXV: EUK)  announced  today  that  it  has  closed  its  previously  announced  non‐brokered  private  placement.      The Company issued 625,000 units on a non‐flow through basis (a “Unit”) at a price of $0.08 per Unit and 350,000 units on a flow‐through basis (a “Flow Through Unit”) at a price of $0.10 per Unit, for gross proceeds of $85,000.

Each  Unit  consists  of  one  common  share  and  one  common  share  purchase  warrant  entitling  the  holder  to acquire  an  additional  common  share  at  a  price  of  $0.12  per  common  share  for  a  period  of  two  years  from closing.  Each Flow Through Unit consists of one flow‐through common share, for the purposes of the Income  Tax  Act  (Canada),  and  one  common  share  purchase  warrant  entitling  the  holder  to  acquire  an  additional common share at a price of $0.12 per common share for a period of two years from closing. All common share purchase warrants issued in connection with the private placement will be subject to an acceleration clause which will cause the warrants, if unexercised, to expire on the date which is 30 days after the date that the volume weighted average trading price of the Company’s common shares on the TSX Venture Exchange exceeds $0.25 per common share over a period of 10 consecutive trading days.

The  proceeds  of  the  private  placement  raised  through  the  sale  of  the  Flow  Through  Units  will  be  used  for exploration  on  the  Company’s  Frasergold  property  located  100  kilometres  east  of  Williams  Lake,  B.C.    The exploration program will consist of soil sampling focused to the northwest of the currently defined Frasergold deposit and along the same trend. The proceeds of the private placement raised through the sale of the Units will be used for working capital.

The  Company  paid  cash  finder’s  fee  to  Haywood  Securities  Inc.  in  the  amount  of  $1,000  and  to  Coal  River Resources Inc. in the amount of $600.

All securities issued in the Offering will be subject to a four‐month hold period, which expires on February 2, 2016.    The  securities  described  herein  have  not  been  registered  under  the  U.S.  Securities  Act  of  1933,  as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

About Eureka and the Frasergold Project 

Since  its  incorporation  in  1981,  Vancouver‐based  Eureka  Resources  Inc.  has  focused  on  the  exploration  and evaluation  of  natural  resource  properties.  Its  flagship  project,  the  Frasergold  Project,  was  the  subject  of  a National  Instrument  43‐101  (“NI  43‐101”)  compliant  technical  report  entitled  “NI  43‐101  Technical  Report Frasergold Exploration Project”, dated July 20, 2015 and amended July 27, 2015, authored by K. V. Campbell, Ph.D,  P.Geo,  and  G.  H.  Giroux,  MA.Sc,  P.Eng.,  and  filed  on  SEDAR.  The  Frasergold  Project  is  located  100 kilometres  east  of  Williams  Lake,  B.C.,  with  good  summer/fall  access  by  provincial  highways  and  secondary roads.

John R. Kerr, P.Eng., is the Company's designated Qualified Person for this news release within the meaning of  NI 43‐101 and has reviewed and approved the technical information described in this news release.    

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Further  information  on  Eureka  and  the  Frasergold  Project  can  be  found  on  the  Company’s  website  at www.eurekaresourcesinc.com and at www.sedar.com, or by contacting Michael Sweatman, President and CEO by email at [email protected] or by telephone at (604) 449‐2273.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies  of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. 

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forwardlooking statements in this news release include, but are not limited to, statements with respect to the Company's proposed financing, objectives, goals or future exploration plans at the Frasergold Project, and the business and operations of the Company. Forwardlooking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.