Mr. Simon Chapelle reports

STEADRIGHT ANNOUNCES PRIVATE PLACEMENT

Steadright Critical Minerals Inc. intends to complete a non-brokered private placement financing for aggregate gross proceeds of $500,000 from the sale of up to 3.5 million units of the company at five cents per unit as well as the sale a minimum of six million and maximum of 6.5 million common shares of the company at five cents per common share.

Closing of the private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. The net proceeds of the private placement are intended to be used to further exploration on the company's properties and for working capital purposes. The minimum amount, plus the proceeds from the unit offering, will provide sufficient funds for the company to meet its business objectives and liquidity requirements for a period of 12 months.

Pursuant to the terms of the unit offering, each unit comprises one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 8.5 cents at any time on or before that date which is 12 months after the closing date of the unit offering. All securities to be issued under the unit offering will be subject to a restricted period in Canada ending on the date that is four months plus one day following the closing of the offering as defined in Subsection 2.5(2) of Multilateral Instrument 45-102 -- Resale of Securities and in accordance with applicable Canadian securities laws.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the common shares sold under the common share offering will be offered for sale to purchasers resident in Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The common shares of the company issuable under the listed issuer financing exemption are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

There is an offering document related to the common shares offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors under the common shares offering should read this offering document before making an investment decision. The company may pay a finder warrant entitling the finder to acquire one common share at a price of 8.5 cents per share for a period of 12 months from the date of issuance. No cash compensation will be issued.

The sale of common shares pursuant to the common share offering and units pursuant to the unit offering, and the underlying unit shares and warrant shares issuable thereby, may result in the issuance of more than 100 per cent of the current number of issued and outstanding common shares of the company. The Canadian Securities Exchange (the CSE) has approved the company's reliance on an exemption from the shareholder approval requirements in Section 4.6(2) of CSE Policy 4 -- Corporate Governance, Security Holder Approvals and Miscellaneous Provisions on the basis that Steadright requires immediately funds to be utilized for working capital and to meet upcoming mining exploration commitments. Accordingly, the company will not hold a vote of its shareholders to approve the sale of securities pursuant to the terms of the private placement. Steadright has obtained CSE price protection for the securities issued under the private placement. The CSE has allowed insiders participation without obtaining security holder approval for up to 10 per cent of the private placement. The independent directors of the company have determined that completion of the private placement is in the best interests of the company, and that it is not feasible to obtain securityholder approval in a timely manner given the company's circumstances.

About Steadright Critical Minerals Inc.

Steadright Critical Minerals is a mineral exploration company established in 2019. Steadright currently holds an option on its RAM property near Port Cartier, Que., within the Cote-Nord region, which is accessible by Route 138. The RAM project comprises over 13,000 acres and located on an anorthositic complex that is in a highly prospective geological unit and historically been under explored for nickel, copper, cobalt and precious metals.

We seek Safe Harbor.