VANCOUVER, Feb. 4, 2016 /CNW/ - Eureka Resources Inc.
("Eureka" or the "Company") (TSXV: EUK) announced today that
its warrant exercise incentive program resulted in the exercise of
1,315,000 warrants for proceeds of $65,750. The Company issued to holders who
exercised $0.05 warrants (the "June
Warrants") between January 4, 2016
and January 29, 2016 an incentive
warrant (an "Incentive Warrant") and a common share for each June
Warrant exercised. Each Incentive Warrant entitles the holder to
acquire an additional common share at $0.075 per share until June 10, 2016, and thereafter at $0.125 per share until June 10, 2020. The Company issued 1,315,000
Incentive Warrants as a result of the Program. Insiders
participated exercising 700,000 warrants and received a like number
of Incentive Warrants.
About Eureka
Since its incorporation in 1981,
Vancouver-based Eureka Resources
Inc. has focused on the exploration and development 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.
Eureka has recently entered into an interim agreement which
gives the Company the right to acquire a 50% participating interest
in the Gemini Lithium Project ("Gemini") located in the western
Lida Valley, Nevada.
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.
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.
Forward-looking statements in this news release include, but are
not limited to, statements with respect to the Company's proposed
financings, objectives, goals or future exploration plans at the
Frasergold Project and the Gemini Project, 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: 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.
SOURCE Eureka Resources, Inc.