Mr. Matt Lewis reports
STEADRIGHT COMMENCES PRELIMINARY ECONOMIC ASSESSMENT REPORT ON TITANBEACH PROJECT IN MOROCCO AND A PRIVATE PLACEMENT
A
preliminary economic assessment (PEA)
report is presently under way for Steadright Critical Minerals Inc.'s TitanBeach titanium sands project. The company holds a 75-per-cent interest through an LOI (letter of intent) with its partner Critical Foundation Metals Inc., which will control 25 per cent of the project. The company also wishes to announce that a private placement has commenced.
Steadright has retained a Canadian, Quebec-based, firm,
ABG Exploration
Inc.
to head up the PEA with Alexandr Beloborodov, PGeo. Mineral samples from the project's exploration claims have been sent to AFRI LAB out of Marrakesh, Morocco, and further samples have been sent to IGS out of Delson, Que. The company plans on studying the early stage assessment of the mining project's potential by evaluating the initial viability of the project.
The company is also pleased to have retained a Moroccan geological company,
Al Mokhtabar Sarl,
with Omar Guillou, PGeo, providing the geological services for Steadright Critical Minerals for the TitanBeach titanium sands project. Omar Guillou, PGeo, states: "The TitanBeach project is set within an exceptional geological context along the Moroccan Atlantic Coast, where coastal dynamics have since the Pleistocene, concentrated shoreline placers rich in titanium oxides (Ti02) and iron oxides. It is characterized by well-sorted sands with a mineralogy derived from both magmatic and metamorphic rocks, offering strong potential for sustainable mining development."
Titanium dioxide (TiO2).
Titanium dioxide is
classified as a critical and strategic mineral
in the United States, Canada, Europe and a significant amount of the world's other countries. And with only a few of the world's suppliers dominating the market,
TiO2
is in strong demand.
Steadright chief executive officer Matt Lewis
states: "We have been hard at it on this fantastic opportunity since the signing of the LOI. The commencement of the
PEA
brings us one step closer to our goal. Sand mining operations are well known and quite successful money-making businesses throughout the world and on other stock exchanges, such as the
ASX. We believe we are going to bring the Canadian public markets something that is very special.
"Our Moroccan friends and colleagues have been nothing but warm and inviting -- and we look forward to progressing the TitanBeach project in short order."
Private placement
Steadright's concurrent financing includes a hard-dollar
private placement unit
and a
flow-through unit.
Up to $800,000 worth of these units are being offered, representing up to 11,428,571 units at a price of seven cents per unit.
The non-brokered private placement unit, with each a unit, consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 11 cents per share for a period of 24 months from the date of issuance.
The offering may close in one or more tranches, on such dates as Steadright may determine.
Proceeds will be used for general working capital and corporate purposes.
Flow-through private placement
Up to $170,000 worth of flow-through units, representing up to 1.7 million FT units are being offered at a price of 10 cents per FT unit. The offering may close in one or more tranches. The non-brokered private placement of flow-through units consists of each FT unit of one common share qualifying as a flow-through share (as defined in Subsection 66(15) of the Income Tax Act (Canada)) and one-half common share purchase warrant for each flow through common share. Each FT warrant entitles the holder to purchase one-half additional common share for each flow-through common share at an exercise price of 15 cents per share for a period of 24 months from the date of issuance.
Gross proceeds will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures under the Income Tax Act (Canada).
The units will be sold on a private placement basis in accordance with applicable Canadian securities laws and under applicable exemptions from prospectus and registration requirements. All sales in Canada will be made to the available exemptions pursuant to National Instrument 45-106 -- Prospectus Exemptions. All sales in jurisdictions outside of Canada will be made pursuant to applicable private placement exemptions per applicable securities laws in such jurisdictions.
Closings may occur in one or more tranches. Finders' fees for up to 8 per cent and broker warrants up to 8 per cent are applicable on such dates as Steadright may determine.
Qualified person
Robert Palkovits, PGeo,
a consultant to Steadright, who is a qualified person (QP) under the National Instrument 43-101 -- Standards of Disclosure of Mineral Projects, has reviewed and approved the scientific and technical information in this press release.
About Streadright Critical Minerals Inc.
Steadright Critical Minerals is a mineral exploration company established in 2019.
Steadright has been focused in 2025 on finding exploration projects that can be brought into production within the critical mineral space.
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 Ni (nickel), Cu (copper), Co (cobalt) and
precious metals.
We seek Safe Harbor.
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