Steadright enters deal to acquire Moroccan project

Executive Summary

• Steadright Critical Minerals Inc. has entered into a mineral claim purchase agreement to acquire a 75% interest in Exploration Permit No. 3843143, a historic copper-lead-silver project in Morocco, through its subsidiary Critical Foundation Metals Inc. (CFM).
• The transaction consideration consists of 4 million common shares of Steadright to EMTF (the license holder) and 1 million common shares to CFM, totaling 5 million shares issued.
• The project features high-grade surface indications, including assays up to 46.34% Pb and 48 g/t Ag, with a conceptual exploration target defined based on mapped vein structures and artisanal workings.

Key Details

• Transaction Structure: Steadright acquired 75% of Exploration Permit No. 3843143 via Critical Foundation Metals Inc. (CFM). The permit is held by NSM Capital Sarl, a Moroccan company controlled by Steadright (75%) and CFM.
• Consideration:
  • 4,000,000 common shares of Steadright Critical Minerals Inc. issued to EMTF (Moroccan arm's-length company).
  • 1,000,000 common shares of Steadright Critical Minerals Inc. issued to Critical Foundation Metals Inc.
  • Total shares issued: 5,000,000.
• Share Restrictions: There is a four-month hold period on the issued shares.
• Control: The share issuance will not result in a change of control for Steadright.
• Project Location: Morocco, within a mining-friendly jurisdiction with existing roadway access.
• Geology: Dolomitic formations hosting carbonate-hosted polymetallic deposits with epithermal overprinting. Veins strike northeast-southwest to north-northeast/south-southwest with thicknesses ranging from 0.50 to 4.00 meters.
• Assay Results: Lead mineralization in Vein 1 has returned exceptionally high grades, including up to 46.34% Pb and 48 g/t Ag. Copper mineralization visible at surface as azurite and malachite.
• Exploration Target (Conceptual):
  • Low Tonnage Scenario: Limited to 50m down dip and strike length confined to visible surface exposure.
  • High Tonnage Scenario: Extends strike and down dip by 500m in each direction.
  • Dimensions: Maximum length 800m; potential vertical depth up to 500m.
  • Grade: Based on mapping and sampling; no known drill intersections exist to constrain the target.
• Planned Work Program:
  • Structural and geological mapping.
  • Surface geochemistry (channel sampling and rock geochemical surveys).
  • Geophysical surveys (EM/resistivity and magnetic methods).
  • Data synthesis for 3-D targeting.
  • Phase I diamond drilling to test vein continuity at depth and along strike.
• Related Party Disclosures:
  • CEO Matt Lewis holds an approximate 7.45% indirect interest in CFM (via 33% ownership in a private entity owning ~22% of CFM).
  • A company consultant is the spouse of a former Steadright director; this person is the controlling shareholder of CFM and owns a majority of CFM shares.
• Qualified Person: Robert Palkovits, PGeo, VP of Exploration.

Notable Quotes

• "I am very proud of this acquisition and the spirit of cooperation and friendship with which we secured it, working with our Canadian and Moroccan team and friends. We are all big believers in copper as a metal and really look forward to this property's proper exploration." — Matt Lewis, CEO