It was a thrilling game that went down to the wire, with Nagambie left stranded on 9-89 from 20 overs, seven runs short of victory.
Nagambie looked like etching its name on the trophy halfway through chasing down Katandra's below-par total of 96, but an incredible turnaround from Katandra halted those plans.
The Lakers needed 30 runs from the final five overs, but sublime bowling from Ray Ireland (2-12), including the gripping final over, dragged the Eagles over the line.
With Nagambie in search of 11 runs from six deliveries, Ireland was tasked with bowling the 20th over.
A ginger Ricky Misiti and Harley Taylor-Lloyd were the two batsmen tasked with pulling off the win, but some fearless bowling from Ireland restricted the Lakers to 89 runs.
Earlier in its innings, Nagambie's gun batsman Mark Nolan exited the crease off the back of an insane catch from Ben Clurey.
Running back with the flight from point chasing a skied ball, Clurey dove outstretched and held on to a blinder that will go down in Katandra folklore.
But after that catch the Lakers were sailing with Kyle Winter-Irving (34 runs off 29 balls) and Kasey Duncan (13 runs) leading the way.
And after smoking two big sixes Winter-Irving left the crease with his side 4-65.
And that's where Katandra began to believe it could win the match.
Earlier in the contest, Katandra looked like it was setting up its innings beautifully and was well-placed at 1-32.
But that is when the carnage started for the Eagles.
The star line-up struggled to get going and once Hadleigh Sirett departed for 15 runs, they went on to lose 4-10.
A late flurry from Ireland (24 off 29) was enough to lift his side to its winning total.
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