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M&A / Property

Steadright and SilverLine Mining Sarl Signs LOI in Morocco with Existing Mining License

By The Northwire Desk — AI Analysis Jan 27, 2026 · 09:01 SCM · 0.32 Steadright Critical Minerals Inc.
SCM · Price

Executive Summary

  • Steadright Critical Minerals Inc. announced a non‑binding Letter of Intent (LOI) granting it a first right of refusal to acquire up to 60 % of SilverLine Mining Sarl, the holder of Moroccan mining licence #3843117.
  • The LOI provides for a three‑month due‑diligence period; upon completion Steadright will issue 5,500,000 common shares to the licence owner in exchange for the equity stake.
  • An ancillary agreement engages Atrium Research Corporation to produce quarterly research reports and management interviews for a twelve‑month term at $13,500 per quarter.

Key Details

  • LOI Structure:
  • Non‑binding LOI signed 26 January 2026; three‑month due‑diligence window before definitive agreement.

  • Upon closing, Steadright will issue 5,500,000 common shares to the owner of Mining Licence #3843117 for up to a 60 % equity interest in SilverLine Mining Sarl.

  • Ownership & Cost Sharing:

  • Current licence holder retains 25 % carried cost; SilverLine retains 75 % of the mining claim after transaction.

  • Property Description – SilverLine:

  • Located in Regional Mining Area of Errachidia, Eastern High Atlas Haute Moulouya plateau, Morocco (Licence #3843117).

  • Part of the Moulouya lead metallogenic province; historic mineralization includes lead, fluorite, barite and silver as a by‑product of Pb–Zn districts.

  • Geological Reference:

  • Based on Feb 21 2022 report “ETUDE GEOLOGIQUE DU PROJET MINIER …” (Kharmouch Sahar).

  • Mineralization structurally controlled by NE/SW‑oriented faults and fractures, creating a highly fractured zone with concentrated lead, fluorite, barite mineralization.

  • Qualified Person:

  • Robert Palkovits, P.Geo., VP Exploration – reviewed technical information; QP notes that some data are historical and pending verification (site visits, sampling).

  • Management Quote:

    “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 & Director

  • Atrium Research Engagement:

  • Atrium Research Corp. will produce research reports and three recorded management interviews.
  • Compensation: $13,500 per quarter for a 12‑month term starting 1 Feb 2026; thereafter on a quarter‑to‑quarter basis at the same rate unless terminated.

  • Atrium and its insiders hold no shares or options in Steadright; parties are arm’s length.

  • Other Corporate Context:

  • Steadright also holds the TitanBeach Titanium Project (192 km²) and Copper Valley Mineral Claim, plus an MOU for historic Goundafa Mine with a current mining licence.

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.” – Matt Lewis, CEO & Director

Materiality Assessment: Material – Positive (the LOI represents a significant prospective acquisition that could materially expand Steadright’s asset base and production potential).

Read the original news release →

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