Mr. Matt Lewis reports

STEADRIGHT CLOSES SECOND AND FINAL TRANCHE OF FINANCING FOR A CLOSING TOTAL OF $900K

Steadright Critical Minerals Inc. has closed of the second and final tranche of its non-brokered private placement for gross proceeds of $370,000 at a price of 10 cents per unit.

The closing of the first tranche of the non-brokered private placement took place on Oct. 28, for gross proceeds of $530,000. Taken together, the two tranches totalled $900,000.

Insiders participated in the first tranche, subscribing for 1.1 million units at a price of 10 cents per unit. Insiders also participated in the second tranche, subscribing for 500,000 units.

The nine million units in the capital of the company each consisted of one common share and one common share purchase warrant, which will entitle the holder thereof to purchase one common share at a price of 16 cents per common share for a period of 24 months following the closing date.

The proceeds from the offering will be used for general working capital, corporate purposes and potential strategic initiatives.

Securities issued to Canadians in connection with the second tranche will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation. The remaining units sold under in the second tranche were issued to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under OSC Rule 72-503 and, accordingly, such units issued to purchasers outside of Canada are not subject to a four-month hold period in Canada

The second tranche remains subject to regulatory approvals, including approval from the Canadian Securities Exchange, as applicable.

The company has paid finders' fees to eligible parties in connection with the offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange. Finders' fees of $18,600 were paid on 3.1 million of the units, as well as well as finder's fee warrants equal to 6 per cent of the gross proceeds. Each finder's fee warrant will be exercisable to purchase one additional common share at 16 cents per share for a period of 24 months from closing.

About Steadright Critical Minerals Inc.

Steadright is a mineral exploration company established in 2019. Steadright has focused on finding exploration and historical mining projects within the Moroccan critical mineral space. Steadright currently has exposure through a Moroccan entity known as NSM Capital Sarl, with over 192 square kilometres of mineral exploration claims called the TitanBeach titanium project, along with the Copper Valley project. Steadright also has a binding MOU (memorandum of understanding) for the historic Goundafa mine within the Kingdom of Morocco.

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