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Steadright Critical Minerals Inc. Acquires Majority Stake in Moroccan Antimony Projects
June 9, 2026 — Steadright Critical Minerals Inc. (CSE: SCM) has approved the purchase of 80% of the outstanding shares of EXTERRA Mining & Exploration SARL, the company announced Tuesday. The acquisition includes 12,000,000 common shares of Steadright valued at $0.25 per share, and up to $280,000 CAD. Steadright will also cover the first $5,000,000 USD for exploration and production costs associated with EXTERRA's assets.
The share issuance is subject to Canadian Securities Exchange (CSE) rules, a four-month hold period, and regulatory approval. A shareholders' agreement will be drafted and filed on Sedar to govern EXTERRA Mining & Exploration SARL once the terms and conditions are met and regulatory approval is obtained.
EXTERNALRA Mining & Exploration holds antimony projects in Morocco, comprising three exploration licenses. The company anticipates being able to apply for production permits soon. These licenses are governed by Moroccan mining law 33-3, with extendable durations of up to 10 years for production and seven years for exploration. Small-scale antimony mines are currently operated on the same geological structure, and all licenses are standard 16 km² in size.
“I am very excited about these antimony acquisitions,” said Matt Lewis, CEO of Steadright. “They absolutely dovetail into the business model Steadright is rapidly creating – which is to find strong properties, add value, and quickly get them into production mode.”
Lewis noted that mining operations are contiguous to the properties being acquired. He added that Steadright is in contact with interested parties who are examining the EXTERRA acquisitions. These entities are reportedly looking for suitable projects to work on or invest in to secure product supply, recognizing the global interest in antimony.
The scientific and technical information in the press release was reviewed and approved by Mr. David M. Pollard, C.Geol., a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects.
Steadright Critical Minerals Inc., established in 2019, is a mineral exploration company focused on identifying exploration and historical mining projects in Morocco that can be brought into production. The company also has exposure in the Moroccan critical mineral space through a Moroccan entity known as NSM Capital Sarl, which holds over 192 sq. km. of mineral exploration claims, including the TitanBeach Titanium Project and the Copper Valley Project. Steadright also has a binding memorandum of understanding for the historic Goundafa Mine and a letter of intent with SilverLine Mining Sarl, both Moroccan entities.