Steadright Moving Forward with Exploration on the Copper-Lead-Zinc-Silver-Gold Goundafa Mine

Executive Summary

• Steadright Critical Minerals announces intent to commence phased drilling at the historic Goundafa Mine in Morocco starting Dec 2025 – early 2026.
• The project targets verification of conceptual resources of up to 6.62 Mt with grades of 2.1% Zn, 1.8% Pb, 1.5‑2.1% Cu and up to 3.5 g/t Au, plus historic high‑grade zones (e.g., Vein I historically produced >10% metal grades and 400 g/t Ag).
• A second exploration phase will add geophysical work and broader drilling to delineate additional veins (IV, V, VI) and assess deeper extensions not included in the current resource estimate.

Key Details

• Resource Concept: Up to 6.62 Mt @ 2.1% Zn, 1.8% Pb, 1.5‑2.1% Cu, up to 3.5 g/t Au (select zones).
• Historic Production: Vein I mined 1926‑1956 produced ~320 kt of material >10% grades and 400 g/t Ag.
• Phase 1 (Dec 2025 – early 2026): Surface geological/structural mapping plus targeted drilling to test Vein I extensions near historic mine access points; aim to produce a near‑term resource estimate for potential early production.
• Phase 2: Expanded mapping, geophysics, and intermediate‑to‑wide spaced drilling on Veins I, II, IV, V, VI to evaluate lateral and deeper extensions (potential additional 800 m vertical depth).
• Access Infrastructure: Historic adits/shafts currently sealed for safety but can be re‑opened quickly with owner cooperation; 1.7 Mt directly accessible via existing multi‑level workings.
• PEA Progress – TitanBeach Heavy Mineral Sands: Ongoing PEA work in southern Morocco; meetings with government officials scheduled Nov 2025 to advance mining and environmental licences; engineering review of modular sand‑processing plant for Tan‑Tan province.
• Qualified Person: Robert Palkovits, P.Geo., VP Exploration (NI 43‑101 QP) reviewed and approved technical information.
• CEO Quote: “Steadright’s North Star is the thesis that we can best serve our shareholders by acquiring assets which have clearly achievable near‑term production… I am very pleased with our execution so far and think we are on target to hit our goals.”

Notable Quotes

“Steadright’s North Star is the thesis that we can best serve our shareholders by acquiring assets which have clearly achievable near‑term production – and then moving to the revenue stage as quickly as possible. I am very pleased with our execution so far and think we are on target to hit our goals.” — Matt Lewis, CEO & Director

Materiality Assessment: Non‑Material – Positive (operational update without immediate financial impact).