Steadright enters MOU for two exploration licences

On October 14, 2025, Steadright Critical Minerals announced it has entered into a Memorandum of Understanding (MOU) to acquire two additional exploration licenses for its TitanBeach Titanium Project in Morocco. This acquisition will add 32 square kilometers, bringing the project's total contiguous area to 224 square kilometers. The purchase price is $150,000 USD, and the new licenses are royalty-free. The company also reiterated that a larger exploration program and applications for a Mining and Environmental License are expected to commence in November 2025.

This news is a follow-through on statements made just one week prior. On October 7, 2025, the company announced the acquisition of other claims (bringing the total to 192 sq km) and explicitly stated that "Two further exploration licences for two other claims to be added... shortly." The October 14 news confirms this previously guided-for expansion.

From a critical perspective: * Positive: The company is demonstrating its ability to execute its stated strategy of consolidating the land package. The addition of royalty-free ground is a net positive for the project's potential economics. Forward guidance on the November exploration and permitting timeline provides clarity on upcoming catalysts. * Neutral/Negative: Since this land acquisition was pre-announced, its impact on the market should be minimal. It is an operational update rather than a new discovery or a significant de-risking event. The purchase price of $150,000 USD plus the earlier $80,125 CAD will drain cash reserves for a company that is not generating revenue, increasing the likelihood of an imminent and dilutive financing.

Overall, the news is incrementally positive as it shows progress. However, its non-surprise nature and the associated cash outlay prevent it from being material. The key value in this release is the reiterated timeline for the more significant catalysts in November.

Steadright Critical Minerals Inc. (CSE: SCM) is a junior mineral exploration company. Its flagship asset is the TitanBeach Titanium Project, located on the coast of Morocco. The project focuses on Titanium Dioxide (TiO2), a commodity designated as a critical and strategic mineral by the US, Canada, and Europe. The company is in the late exploration and early permitting stage, actively consolidating a land package that now covers 224 sq km. Steadright holds its interest via 75% ownership of a Moroccan subsidiary, NSM Capital Sarl, which controls 100% of the mineral licenses.