Goundafa Historic MINE Site Spring Work Program
GOUNDAFA HISTORIC MINE SITE SPRING WORK PROGRAM
COMPLETED
June 15th, 2026 –- Muskoka - Ontario – Steadright CriƟcal Minerals Inc. (CSE: SCM)
(“Steadright” or the “Company”), is pleased to update shareholders on the historic polymetallic
Copper-Zinc-Lead-Silver-Gold Mine, known as the Goundafa Mine, which has a fully permiƩed
Mining License. Steadright holds a Binding MOU on the site with $7.5 million USD remaining to
purchase the shares of Ste Commerciale et Minière du Sahara(CMS) over the next 2.5 years.
Steadright can accelerate payments through cash or common shares.
In April 2026 Steadright engaged Axiom ExploraƟon Group Ltd. (“Axiom”), a global leader in
integrated geoscience soluƟons, to support the rapid advancement of its diversified porƞolio of
high-potenƟal criƟcal mineral projects in Morocco. Axiom have recently been on site at the
Goundafa Historic Minesite, aŌer an unusual harsh winter.
Axiom has compiled and created a database of informaƟon from the Goundafa and was on site
in May 2026 to geo-locate tailing piles as part of a contract signed for the sale of historic
‘Mineralized Stockpile’ with MoResCo Sarl for purchase of up to 14,400 metric tons. (See Press
Release Dated: December 16th, 2025.) Samples were taken from shallow pits or sorted
Mineralized piles. Photos were taken of each site, and samples and observaƟons were recorded
into the ESRI FieldMaps app (See Field Map May 2026 below). Samples were then sealed in bags
along with a sample tag, and were in the custody of the authors through to delivery to Afrilab in
Marrackech. Morocco.
Geochemical Analyses
All samples were prepared and analysed by African Laboratory for Mining and
Environment (AfriLab), an ISO 9001-certified laboratory (Certificate No.
MA20/819942595). Samples were crushed and pulverised to a nominal 85% passing 75
microns using standard mechanical preparation procedures (PRE.MO/ANA/015).
Gold was analysed by Fire Assay with Atomic Absorption Spectrometry finish (FA-AAS)
on a 50-gram charge (PRE.MO/ANA/001). Multi-element geochemistry was determined
by Inductively Coupled Plasma (ICP) spectrometry following four-acid (HF-HNO₃-HClO₄-
HCl) near-total digestion (PRE.MO/ANA/036). Follow-up on sampling to be reported.
Discussion
The site visit has helped a great deal to better understand the property for Axiom, with
respect to the available reports. The state of the digital database continues to improve,
even after the site visit, with additional digitisation of historical samples helping to
visualise previous work and potential across the entire site.
Field Map Mineralized Tailing Piles Sampled at the Goundafa Mine Site May 2026
Sample Site 1, May 2026 picture
Goundafa Mine Site (Press Release Dated: December 16 th, 2025)
“The Goundafa Mine was developed and mined by La Société des Mines de Goundafa (SMG) from
the 1926 until 1956.Operations ceased due to political changes following Moroccan
independence. A number of historical professional reports are available on the Goundafa
Property. In 1928, two thousand tons with an average grade of 22.13% Zinc and 11.31% Lead
were produced . In the 1985 report, "Rapport sur les travaux souterrains et la
cartographieminiere de la concession de Goundafa” from the Bureau de Rescherches et de
Participations Minières ( BRPM), Morocco’s former national mining agency, now ONHYM,
indicated Silver (Ag) grades of up to 400g/t from concentrate . As mining pursued deeper,
increasing chalcopyrite and Gold (Au) content were observed . In total, historical production of
320k tons of material was reportedly extracted until 1956.
A 2022 geological report (non-NI 43-101 compliant), “Rapport Technique et Financier sur la
Concession Minière de Goundafa – Commune d’Ijoukak, Province d’El Haouz, Maroc”, authored
by Omar Guillou and prepared for CMS, the concession holder identified 6.62 Mt located above
-300L and adjacent to old workings, but excludes exploration potential that is open along the
strike and down dip of -300 L. The 2022 CMS report states: The historic “estimate is limited to
the 600 vertical meters through accessible workings; are within a vertical interval of
approximately 600 meters, between the surface and the deepest accessible workings” .
However, the non-compliant tonnage estimate does not include “deeper speculative
extensions”, and that “it could extend an additional 800 meters vertically, reaching depths of
1,400 meters below surface”. In addition, “the lateral extensions of Veins IV, V and Vi have been
identified at surface through trenching and geological surveys. These extensions show
structural continuity with the veins exploited at depth, but their potential remains to be
confirmed by drilling. They are NOT INCLUDED in the main volumetric estimate of 6,620,000
Mt,although the project warrants drill testing to evaluate geological continuity and to collect
data for potential future resource estimation. Existing adits, including mine workings, are
available at the historic operations allowing easy access to the former mine.
The Goundafa Project is an early-stage polymetallic exploration project located in Morocco’s High
Atlas Mountains — a region with a long mining history and favorable geology. The project is
centered on a series of steeply dipping mineralized veins containing Lead, Zinc, Copper, Gold
and Silver. These veins are exposed at surface and have seen limited artisanal mining since the
French left, providing a strong foundation for modern exploration.
While the 2022 report for the CMS estimate does not meet the requirements of NI 43-101 and is
not a formal mineral resource, it reflects the potential scale of the system with the convergence
of multiple mineralized veins
Figure 11: Schematic of the Exploitation of the
Goundafa Deposit (Scale 1:2000)
The 2022 technical report was compiled and authored by Mr. Omar Guillou, who led the
integration of historical data, field observations, and sampling results into a cohesive evaluation
of the concession’s potential. Dr. Abdelaziz El Hadi, a senior structural geologist and academic
researcher with over three decades of experience in Moroccan mineral systems, contributed
to the geological interpretation and structural modeling. His work focused on vein geometry,
structural stacking, and volumetric projections that informed the historical estimate. See Table 1
(Tableau 3) Historical Estimation of Insitu Tonnage by Vein (title modified) from the 2022 report
and Table 2: Reconstructed Tons and Grade by Vein.
Follow up work on the Goundafa will conƟnue as Steadright is commiƩed to ensuring that a
proper exploraƟon is competed at the Goundafa Mine Site and looks forward to sharing further
informaƟon as it pertains to the Mine Site and its potenƟal.”
Steadright CEO, MaƩ Lewis, states, “The Moroccan teams are pressing hard to fulfill Steadright’s
potenƟal. I am very happy about the progress on the Goundafa, especially as it relates to the
historic stockpiles we are contracted to sell.
We are looking over Axiom’s work at the Goundafa and will report back to the market shortly.
Morocco is an incredible country and we are very grateful for the opportuniƟes afforded us by
them.”
ABOUT STEADRIGHT CRITICAL MINERALS INC.
Steadright CriƟcal Minerals Inc. is a mineral exploraƟon company established in 2019. Steadright
has been focused in 2025 on finding exploraƟon and historical mining projects that can be
brought into producƟon within the Moroccan criƟcal mineral space. Steadright currently has
exposure through a Moroccan enƟty known as NSM Capital Sarl, with over 192 sq KMs of
mineral exploraƟon claims called the TitanBeach Titanium Project, along with the Copper Valey
Project. Steadright has also has a binding MOU for the historic Goundafa Mine within the
Kingdom of Morocco.
ON BEHALF OF THE BOARD OF DIRECTORS
For further informaƟon, please contact:
MaƩ Lewis
CEO & Director
Steadright CriƟcal Minerals Inc.
Email: [email protected]
Tel: 1-905-410-0587
www.steadright.ca
Neither the Canadian SecuriƟes Exchange (the “CSE”) nor its RegulaƟon Services Provider (as
that term is defined in the policies of the CSE) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking informaƟon is subject to known and unknown risks, uncertainƟes and other
factors which may cause the actual results, level of acƟvity, performance or achievements of
Steadright to be materially different from those expressed or implied by such forward-looking
informaƟon. Such risks and other factors may include, but are not limited to: there is no
certainty that the ongoing programs will result in significant or successful exploraƟon and
development of Steadright’s properƟes; uncertainty as to the actual results of exploraƟon and
development or operaƟonal acƟviƟes; uncertainty as to the availability and terms of future
financing on acceptable terms; uncertainty as to Ɵmely availability of permits and other
governmental approvals; general business, economic, compeƟƟve, poliƟcal and social
uncertainƟes; capital market condiƟons and market prices for securiƟes, junior market securiƟes
and mining exploraƟon company securiƟes; commodity prices; the actual results of current
exploraƟon and development or operaƟonal acƟviƟes; compeƟƟon; changes in project
parameters as plans conƟnue to be refined; accidents and other risks inherent in the mining
industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in
legislaƟon, including environmental legislaƟon or income tax legislaƟon, affecƟng Steadright;
conclusions of economic evaluaƟons; and lack of qualified, skilled labour or loss of key
individuals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and
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