November 6, 2007

Settlement of Debts by the Issuance of Shares

Eureka Resources, Inc. (the “Company”) announces that it has agreed to issue 103,302 common shares of the Company at the price of $0.80 per share to John J. O’Neill, a director of the Company, in satisfaction of a $82,641.59 debt owed to John J. O’Neill by the Company.

The Company has also agreed to issue 145,255 common shares of the Company at the price of $0.80 per share to 8907 Investments Ltd., a company controlled by John J. O’Neill, in satisfaction of a $116,204.00 debt owed to 8907 Investments Ltd. by the Company.

The issuance of the aforementioned shares is subject to approval from the TSX Venture Exchange. In addition, the aforementioned shares will have a four-month hold period as required by applicable securities laws and or TSX Venture Exchange policies.

ON BEHALF OF EUREKA RESOURCES, INC.
“signed”_______________________
John J. O’Neill
Director

You can view the Next News item:November 16th, 2007, Eureka Issues Shares for Debt

You can view the Previous News item:October 30th, 2007, Eureka Resources, Inc. advises of an error in its October 3, 2007 News Release regarding Settlement of Debts by the Issuance of Shares

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