Mr. Simon Chapelle reports

PREPARATORY INFRASTRUCTURE WORK FOR PILOT PLANT AND MINING ON THE HMS TITANBEACH TITANIUM PROJECT IN MOROCCO BEGINS. COMPANY OPTIONS ISSUED

Steadright Critical Minerals Inc. has provided shareholders with an update on the TitanBeach titanium project in the Kingdom of Morocco, following this week's announcement by NSM Capital Sarl of a 32-per-cent full carried interest in the TitanBeach titanium project through Shan Tang Mining -- and the signing of a framework of co-operation agreement with a state-owned enterprise (SOE).

NSM Capital SARL, the Moroccan entity in which Steadright holds a 76.5-per-cent interest, has secured a full 32-per-cent carried interest in the TitanBeach project for all future exploration and potential production scenarios and requires no further financial contribution or has any dilution risk.

Pilot plant Shan Tang Mining SPV/SOE

Shan Tang Mining yesterday started preparatory infrastructure work on the pilot plant construction phase on the TitanBeach titanium project at Beach One, which recently announced a permitted mining licence. Under the framework co-operation agreement signed with a state-owned enterprise (the SOE partner), the SOE is covering costs for planning, design, permanent works, and operations and maintenance, including a base camp for the employees to be working at the pilot plant. The SOE partner brings full-process capability and established mining technology, equipment, and project-operation systems to the HMS development and will be installing beneficiation processing equipment. A long-term mining development strategy will be subject to pilot plant results.

Ownership and attributable interest

Steadright's economic exposure to the TitanBeach project is held indirectly through its 76.5-per-cent equity interest in NSM Capital and NSM Capital's 32-per-cent full carried interest in the Shan Tang Mining SPV. The attached table summarizes the ownership structure as currently disclosed.

Management commentary

Statement by L. Jouak, chief executive officer of NSM Capital: "From a dream and an idea, we have turned our vision into reality. I am very pleased that we are approaching the start of this important phase of the TitanBeach titanium project.

"We are currently focused on the necessary preparatory infrastructure work at the Beach One site, including preparing and establishing designated areas for the employee accommodation containers, as well as other minor infrastructure and preparatory work at the project site.

"It is an exciting and very rewarding time for NSM Capital. Seeing this project move from an idea and a dream toward reality is an important milestone for everyone involved. We look forward to the next steps and to the continued development of the TitanBeach titanium project."

Steadright chief executive officer Matt Lewis commented: "We at Steadright are very impressed with the speed with which NSM, Shan Tang and the SOE are moving things forward. From my perspective, that is an extremely quick breaking of ground for preparatory work. We look forward to milestones being reached on this project, and of course, we want to thank all the government people and the people of Morocco who have made this project possible."

Options granted

The board of directors approved and authorized the granting of 3.84 million stock options to board of directors, certain consultants and service providers under the company's stock option plan as amended.

Each option shall be granted in accordance with the terms of the company's stock option plan, as amended with an exercise price set of 25 cents for five years ending on April 17, 2031, and is subject to all required regulatory approvals.

About Steadright Critical Minerals Inc.

Steadright Critical Minerals is a mineral exploration company established in 2019, focused on advancing exploration and historical mining projects toward production within Morocco's critical minerals sector. Steadright holds its interest through NSM Capital, which controls the 192-square-kilometre TitanBeach titanium project and the Copper Valley project. Steadright also holds a binding memorandum of understanding for the historic Goundafa mine in Morocco, which holds a permitted mining licence.

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