Morocco Strategic Minerals Corp. Announces District-Scale Option Agreement in Morocco's Western High Atlas
Morocco Strategic Minerals Corp. Announces District-Scale
Option Agreement in Morocco's Western High Atlas
MONTRÉAL, QUÉBEC, CANADA - Monday, April 20, 2026 - Morocco Strategic Minerals
Corporation (TSXV: MCC) ("Morocco Strategic Minerals" or the "Corporation") is pleased to
announce that it has entered into an option agreement dated April 15, 2026 (the "Option
Agreement") with MNF Groupe Inc. ("MNF"), a Moroccan mining company and subsidiary of
Broychim S.A., pursuant to which MCC has been granted an exclusive option to acquire up to
an 80% interest in a portfolio of mineral assets located in the Western High Atlas region of
Morocco. The option covers five exploitation licences, being 373220 (Tanfit Mine), 373221
(Ijoukak), 373422 (Amsghni), 393506 (Aït Zekri Mine) and 393505 (Ighrm), two research
permits, being 3941791 (Tamadghoust) and 3942613 (Tizgui), and the environmental
authorization relating to the construction of a central flotation plant attached to licences
393506 and 393505 in the Ouneine Valley.
In parallel, the Company has also secured a separate option to acquire a 100% interest in
licence 393512 (Ouneine Mine), which, if exercised, would bring MCC's regional portfolio in
the Ouneine Valley to six exploitation licences, two research permits and the environmental
authorization for the construction of a central flotation plant.
A Historical Mining Camp with District-Scale Exploration Potential
The transaction provides MCC with exposure to a historical copper-gold-silver mining camp
located in Morocco’s Western High Atlas. The property package covers more than 57 km²
and comprises multiple past-producing mines, underground workings, mineralized
structures, legacy production centres, and stockpiles within a consolidated land position. The
most notable include the Tanfit (Cu-Ag), Ouneine (Cu-Ag), and Aït Zekri (Au-Ag) mines.
In the Company’s view, the primary opportunity lies in the contrast between a well-established
historical mineral endowment and the limited extent of modern, systematic exploration
completed to date. Across the Ouneine–Ijoukak area, mineralization is associated with
repeated faulting, quartz veining, sulphide development, hydrothermal brecciation, and
strong alteration, with structures extending along kilometre-scale trends. At Aït Zekri, gold-
bearing structures are reported with multiple parallel and converging zones mapped both at
surface and underground.
Copper represents the most significant historical production driver. The Tanfit and Ouneine
mines were the principal centres of past copper extraction. At Tanfit, historical production*
between the 1960s and early 1970s reportedly yielded concentrate grades ranging from 25%
to 29% Cu, with later operations processing ore grading approximately 2.0% to 2.1% Cu at
metallurgical recoveries near 85%. At Ouneine, historical reports describe multiple copper-
bearing veins hosted within Cambrian rocks. Hand-sorted material reportedly yielded
concentrates* grading approximately 27% Cu with silver values of around 250 g/t Ag.
*Historical production figures and other referenced data are historical in nature and should not
be relied upon as indicative of current mineral resources or mineral reserves. A Qualified Person
has not verified these data and has not completed sufficient work to classify them as current
mineral resources or mineral reserves. The Company is not treating these historical data as
such.
Recent surface and underground sampling** (total of 12 selected rock samples) conducted
by MCC at Tanfit and Ouneine, including both in situ mineralization and historical stockpiles
confirmed the presence of high-grade copper mineralization. At Tanfit, results returned
values of up to 23.76% Cu and 137 g/t Ag, with an average of 10.4% Cu across the selected
samples. At Ouneine, results returned up to 16.03% Cu, with an average of 7.3% Cu across
the selected samples. These results highlight the strong potential of these vein hosted
systems, with additional upside from historical stockpiles.
Table 1: The location of the selected rock samples conducted by MCC.
Location Samples X Y Au (g/t) Ag (g/t) Cu (%)
Tanfit Tf1 241997 442720 0.14 50 8.91
Tanfit Tf2 241997 442720 <0.05 32 13.25
Tanfit Tf3 241997 442720 <0.05 137 13.09
Tanfit Tf4 242152 442669 <0.05 4 1.04
Tanfit Tf5 242152 442669 <0.05 36 11.40
Tanfit Tf6 242305 443114 <0.05 29 1.09
Tanfit Tf7 242305 443114 <0.05 43 23.76
Ouneine E1/TAS 236563 430669 <0.05 16 2.90
Ouneine E2/TAS/G70 236624 430635 0.05 31 6.73
Ouneine E3/TAS 236498 430735 <0.05 54 16.03
Ouneine E4/Shaft 237439 430401 <0.05 23 4.78
Ouneine E5/FTEst 237505 430419 0.05 62 6.27
**The recent MCC sample results referenced above include grab samples, which are selective
by nature and may not be representative of the underlying mineralization. The reported results
represent point samples only and should not be interpreted as indicative of the extent,
continuity, or grade of mineralization.
The Aït Zekri mine further demonstrates the precious metals potential of the district, with
approximately 300 metres of underground development and 18 drill holes (SAZ 1 to SAZ 18)
totalling 2,018.6 metres. Gold intercepts from recent drilling include:
SAZ-1 returned 1.15 g/t Au over 3.4 m (from 24.25 m to 27.65 m)
SAZ-4 returned 0.66 g/t Au over 3.85 m (from 39.80 m to 43.65 m)
SAZ-6 returned 1.07 g/t Au over 3.1 m (from 54.20 m to 57.30 m)
Higher-grade intervals were intersected in:
SAZ-12, which returned 6.70 g/t Au over 1.0 m (from 45.70 m to 46.70 m), and
1.40 g/t Au over 1.0 m (from 60.70 m to 61.70 m)
SAZ-13, which returned 1.55 g/t Au over 1.0 m (from 57.30 m to 58.30 m).
Underground sampling (25 samples from adit G1) returned significant gold and silver values,
highlighting the strong precious metals potential of the system. Gold values reached up to
3.31 g/t Au (E24), with several samples exceeding 2.0 g/t Au, including 3.14 g/t Au (E20) and
2.76 g/t Au (E25). Silver assays were also notable, with values up to 240 g/t Ag (E12), as well
as 139 g/t Ag and 115 g/t Ag, and multiple samples exceeding 100 g/t Ag.
*** These results are derived from historical sampling and have not been independently verified
by the Qualified Person. While considered indicative, they should not be relied upon as definitive.
A systematic exploration program, including confirmatory sampling, QA/QC protocols, and
drilling, is planned to validate these results and further assess the continuity, grade, and extent
of mineralization.
Figure 1: MCC’s Ouneine-Ijoukak Hub composed of 6 producing licenses, 2 Research Permits
and the Environmental Acceptance Authorisation for the Construction of a Flotation Facility in
the Ouneine Valley, Western Anti-Atlas
Access, Infrastructure and Development Positioning
The package is located approximately 96 km south of Marrakech and is accessible from both
Marrakech and Agadir via the R203 and Tizi n'Test corridor, one of the principal routes linking
the High Atlas to southern Morocco.The Company notes that reconstruction and
rehabilitation works continue in the broader Tizi n'Test and Al Haouz region following the
2023 earthquake, which is expected to support long-term regional access. From a
development perspective, the Company believes the district benefits from a rare combination
of practical advantages in the Atlas Mountains: exploitation licences are already in place, the
package includes environmental authorization for a central flotation plant, the Ouneine Valley
offers substantial flat ground suitable for plant construction, access to water is available, and
the district is located between Marrakech and Agadir, providing access to regional
contractors, services and skilled labour. Taken together, these factors support a credible
pathway toward development, subject to the results of ongoing technical work.
Figure 2: Ouneine-Ijoukak Hub Location and Access
Principal Terms of the Option Agreements
Under the Option Agreement with MNF, MCC has received a four-month due diligence period
and full exclusivity over the assets, commencing on April 15, 2026. Following satisfactory
due diligence, MCC is required to pay US$1,000,000 in cash to MNF in four instalments of
US$250,000, with the first payment due no later than August 15, 2026 and the remaining three
payable three, six and nine months after the first payment.
Following a successful due diligence process, MCC will then have a three-year option period
to acquire an 80% undivided interest in the assets by paying an additional US$10,000,000 in
cash. Upon exercise, MCC would hold 80% and MNF would retain 20%, with MCC acting as
operator under a joint venture structure. If MNF elects not to contribute its proportionate
share of expenditures after exercise, its 20% interest will be converted into a 2% NSR royalty.
Separately, MCC has secured a second option agreement to acquire a 100% interest in
licence 393512 (Ouneine Mine) for an upfront option payment of MAD 150,000
(approximately C$22,000) and an exercise price of C$1,000,000, exercisable on or before
June 15, 2026.
The agreement also provides that MCC may, at its discretion, add one or more additional
regional assets, including the Ouneine Mine (license 393512), to the project perimeter. If MNF
elects not to participate in such additional assets at the prorated 80%–20% interest at the
time of option exercise, those assets shall remain the exclusive property of MCC.
About Morocco Strategic Minerals
Morocco Strategic Minerals Corp. is a Canadian mineral exploration company focused on the
acquisition, exploration and, if warranted, development of mineral properties of merit in
Canada and Morocco.
About MNF Groupe
MNF Groupe Inc. is a Moroccan mining company and a subsidiary of Broychim S.A. a
Moroccan industrial group that has been active for more than forty years and is recognized
as a leader in mineral processing, chemical transformation, and the distribution of industrial
products used across the glass, paint, plastics, ceramics, and construction sectors.
Qualified Person
The scientific and technical information in this release has been reviewed and approved by
Merouane Rachidi, Ph.D., P.Geo., an independent Qualified Person in compliance with
National Instrument 43-101.
Sample Analysis Method
All selected samples taken by MCC were submitted to African Laboratory for Mining and
Environment (Afrilab – SGS Certified) in Marrakech, Morocco.
All samples were analyzed for silver, copper, iron, lead and zinc using aqua regia digestion
with an atomic absorption spectroscopy ("AAS") finish. Samples containing greater than 5%
Cu were reanalyzed using titration. Gold was assayed by fire assay. No QA/QC samples were
included in this sampling program.
About Morocco Strategic Minerals
MCC is a Canadian mineral exploration company focused on the acquisition, exploration, and,
if warranted, development of natural resource properties of merit in Canada and Morocco.
Contact Information
Telephone : 579-476-7000
Email : [email protected]
Pierre-Olivier Goulet
Vice-President Corporate Development
Guy Goulet
President and CEO
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under
Canadian securities legislation. Forward-looking information includes, but is not limited to,
statements regarding the exercise of the option agreements, the acquisition of interests in the
referenced mineral assets, the exploration and development potential of the Ouneine Valley
district, the availability of infrastructure and access, and the Corporation's plans, objectives and
expectations with respect to the project. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects", "believes",
"intends", "may", "will" or variations of such words and phrases, or statements that certain
actions, events or results "will", "may", "could" or "should" occur. Forward-looking information is
based on the Corporation's estimates and assumptions as of the date of this release and is
subject to known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those expressed or implied by such forward-looking
information. Readers should not place undue reliance on forward-looking information. The
Corporation undertakes no obligation to update or revise such information except as required
by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.