Mr. Matt Lewis reports

STEADRIGHT CLOSES FIRST TRANCHE OF FINANCING

Steadright Critical Minerals Inc. has closed the first tranche of its non-brokered private placement for gross proceeds $530,000 at a price of 10 cents per unit. Insiders have participated in the first tranche, subscribing for 1.1 million units at a price of 10 cents per unit.

The closing of the second and last tranche of the private placement, which was upsized by $100,000 to $900,000, is expected next week. Steadright foresees insider investors taking most, if not all, of the rest of this placement.

The issuance of up to nine million units in the capital of the company will consist of one common share and one common share purchase warrant, which will entitle the holder therof to purchase one common share at a price of 16 cents per 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.

All securities issued in connection with the offering 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 offering remains subject to regulatory approvals, including approval from the Canadian Securities Exchange, as applicable.

The company will pay 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 a finder's fee warrant 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 memorandum of understanding for the historic Goundafa mine within the Kingdom of Morocco.

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