Steadright Secures Historic Moroccan Mine with Critical Minerals Potential

Steadright Critical Minerals Inc. has signed a groundbreaking Memorandum of Understanding with Ste Commerciale et Minière du Sahara (CMS) to potentially acquire 100% ownership of the historic Goundafa Mine in Morocco's High Atlas Mountains. This strategic partnership centers on a fully permitted mining concession covering 1,600 hectares that hosts significant polymetallic deposits containing copper, zinc, lead, silver, and gold - minerals classified as critical and strategic by multiple nations including the U.S., Canada, and Europe. The agreement includes a $8 million USD mineral license purchase, potential share issuance up to 9% of Steadright's outstanding shares, and a 1% Net Smelter Royalty, positioning the company to capitalize on what CEO Matt Lewis describes as "an ideal place to be while the world races to access and secure these ever-increasing value metals."

The Goundafa Mine represents a compelling exploration opportunity with substantial historical production data and conceptual resources estimated at 6.62 million tons. Historical operations from 1926 to 1956 extracted 320,000 tons of material, with records showing impressive grades including 22.13% zinc and 11.31% lead in 1928 production, and silver grades reaching up to 400g/t from high-grade galena zones. The 2022 technical report prepared for CMS by Omar Guillou, with geological contributions from Dr. Abdelaziz El Hadi, identifies significant mineral potential across multiple veins, including conceptual resources with grades of 2.1% zinc, 1.8% lead, 1.5-2.1% copper, and up to 3.5 g/t gold in select zones. The project benefits from extensive historical infrastructure and well-maintained underground workings that provide immediate access to approximately 1.7 million tons of mineralized material.

While the historical estimates require verification through modern exploration methods and do not comply with NI 43-101 standards, the convergence of multiple mineralized veins, surface geochemical anomalies, and the project's location in Morocco's mining-friendly jurisdiction creates a compelling case for systematic development. The technical foundation draws heavily from the detailed 1985 BRPM report and recent field observations, with Steadright's qualified person Robert Palkovits overseeing due diligence. The company's strategic move into Morocco aligns with global demand trends for critical minerals, positioning Steadright to potentially develop a significant polymetallic asset in a region with proven mining history and favorable geology. View the original release on www.newmediawire.com for complete details and disclosures.