Steadright signs LOI to acquire SilverLine interest

Executive Summary

• Steadright Critical Minerals Inc. has signed a non-binding Letter of Intent (LOI) to acquire up to 60% of SilverLine Mining Sarl, a Moroccan entity holding an active mining license (No. 3843117) for polymetallic mineralization (lead, fluorite, barite) in the Errachidia region.
• The transaction involves Steadright issuing 5.5 million common shares to the current license holder to secure the 60% interest, with SilverLine retaining a 25% carried cost interest and 75% ownership of the claim.
• Steadright has also engaged Atrium Research Corp. to provide sponsored research and investor interviews for $13,500 per quarter, starting February 1, 2026.

Key Details

• Transaction Structure: Non-binding LOI signed on January 26, 2026, with a three-month due diligence period before a definitive agreement.
• Consideration: Steadright will issue 5.5 million common shares to the owner of mining license No. 3843117.
• Ownership Split: Steadright acquires up to 60% of SilverLine Mining. SilverLine retains 75% of the mining claim.
• Carried Interest: The mining license holder (SilverLine) retains a 25% carried cost interest.
• Target Asset: SilverLine Mining Sarl holds license No. 3843117 in the Errachidia regional mining area, Eastern High Atlas Haute Moulouya plateau, Morocco.
• Mineralization: The property is part of the Moulouya lead metallogenic province. Mineralization is structurally controlled by northeast/southwest-oriented faults and fractures, concentrating lead, fluorite, and barite. Historical data indicates silver often occurs as a byproduct in these Pb-Zn districts.
• Qualified Person: Robert Palkovits, PGeo, VP of Exploration for Steadright, has reviewed the technical information. Verification work (site visits, sampling) is planned.
• Research Engagement: Steadright engaged Atrium Research Corp. for sponsored research and three recorded management interviews.
• Research Compensation: $13,500 per quarter for 12 months starting February 1, 2026, with automatic quarter-to-quarter extension unless terminated.
• Arm's Length: Both the SilverLine LOI and the Atrium engagement are arm's-length transactions. Atrium holds no shares or options in Steadright.

Notable Quotes

• "I am extremely pleased with the SilverLine Mining LOI. We think it can add a lot to our company, especially with an active mining licence. Our Canadian and Moroccan teams are working very hard at the needed due diligence." — Matt Lewis, CEO of Steadright Critical Minerals Inc.