Eureka Announces 2017 AGM Results

Vancouver, British Columbia--(Newsfile Corp. - May 1, 2017) - Eureka Resources Inc. (TSXV: EUK) ("Eureka" or the "Company") announces the results of its Annual General Meeting (the "AGM") held April 28, 2017.

2017 AGM RESULTS

The following individuals were elected directors of the Company: Warren Stanyer, Michael Sweatman, John Kerr, Kristian Whitehead and Gary Vivian.

Gary Vivian, P. Geo., was newly elected to the board of directors. Mr. Vivian is a geologist with over 40 years' experience in mineral exploration. Gary has worked across Canada in NB, QC, ON, MB, SK, AB, BC, YT, NU and NT. His management skills have been applied to large exploration programs combining drill management, geology and geophysics using an integrated and systematic approach. He is the Chairman of Aurora Geosciences Ltd.

The Company's shareholders also approved the reappointment of Davidson and Company LLP, Chartered Professional Accountants, as auditor of the Company, and the continuation of the Company's rolling stock option plan.

Following the AGM, the board of directors reappointed the following individuals as officers of the Company:

• Michael Sweatman, President and Chief Executive Officer;
• Brent Petterson, COPA, CGA, Chief Financial Officer;
• Kristian Whitehead, Vice President Exploration; and
• Christina Boddy, Corporate Secretary.

Messrs. Sweatman, Kerr, and Stanyer were appointed members of the audit committee, and Messrs. Vivian, Sweatman, and Kerr were appointed to the compensation committee for the ensuing year.

The board of directors has also approved the grant of 200,000 stock options to a director, at a price of $0.10, and valid for a 5 year period.

ABOUT EUREKA

Eureka is an exploration focused company based in Vancouver, British Columbia, whose strategy is to acquire projects in prospective areas that have the potential to deliver important new discoveries to create value for its shareholders.

British Columbia, Canada

Eureka's 100% owned FG Gold property is an advanced-stage gold project located in the Cariboo Mining Division and currently under option to Canarc Resources Corp. Historical exploration has established a Measured and Indicated (376,000 ounces) gold resource at an average grade of 0.776 g/t gold, using a cut-off grade of 0.5 g/t, and an Inferred gold resource (634,900 ounces) at an average grade of 0.718 g/t gold, using a cut-off grade of 0.5 g/t. Details of the gold resource can be found in "NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division, dated July 27, 2015" available under the Company's profile on SEDAR or on the Company's website.

Eureka has the option to earn a 100% interest in the Gold Creek property located in the Cariboo Mining Division. Gold Creek is a grassroots gold project neighbouring, and with similar geology to the Spanish Mountain deposit owned by Spanish Mountain Gold Ltd..

Yukon Territory, Canada

Eureka's 100% owned Luxor property consists of three non-contiguous claim blocks totalling 360 mining claims. Luxor is located in the Dawson Range Gold Belt/ White Gold, a district of major porphyry, breccia and vein occurrences.

Eureka's 100% owned TAK property is also located in the Dawson Range Gold Belt and consists of 82 mining claims.

Neighbouring properties to Luxor and TAK include the Coffee deposit recently acquired by Goldcorp.

Nevada, USA

Eureka owns a 50 percent interest in the Gemini lithium brine project located approximately 40 km (26 miles) south of North America's only producing lithium mine at Silver Peak, Nevada.

Kristian Whitehead P.Geo and John Kerr P. Eng. are the Company's designated Qualified Persons for this news release within the meaning of NI 43-101 and haves reviewed and approved the technical information described in this news release.

Further information on Eureka 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 info@eurekaresourcesinc.com or by telephone at (604) 449-2273.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

Cautionary Statement Regarding Adjacent Properties and 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. Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms of the Offering and the business and operations of the Company. Forward-looking 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: failure to obtain TSXV approval for the Offering, general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board 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.