NSM CAPITAL SARL AMENDMENT APPROVED

 

Muskoka, Ontario – TheNewswire - November 12, 2026 – Steadright Critical Minerals Inc. (CSE: SCM) (“Steadright” or “SCM”) is pleased to announce that exploration is underway at the Péribonka Rare Earth Element (REE) and Niobium Carbonatite Target (the “Péribonka Project”) in the Saguenay–Lac-Saint-Jean Region of Québec. The project lies in the same district as The Niobec Mine, Canada’s only producing niobium mine.

 

Airborne Survey Complete

A helicopter-borne high-resolution magnetic and gamma-ray spectrometric survey has been flown over all 37 claims under the guidance of Magnor Exploration, covering 622 line-kilometres at 50 m line spacing. Results and interpretation are expected in the coming weeks and will be used to define targets for the first drill test of the Péribonka anomaly.

 

A Proven Carbonatite District

The Government of Québec has named the nearby Shipshaw carbonatite one of five priority carbonatite and alkaline systems in the Province for detailed geological study. Shipshaw lies on the prolific Waswanipi-Saguenay corridor, the district behind all of Canada’s niobium production. The other four systems are:

 

• The Saint-Honoré Alkaline Complex: Home of the producing Niobec mine, roughly two kilometres from Shipshaw. 

• The Crevier Alkaline Intrusion: A recognized niobium and tantalum project north of Lac Saint-Jean. 

• The Grand Lac Brochet Carbonatite: An identified critical mineral system within the corridor. 

• The Girardville Carbonatite: Another key target prioritized for provincial study. 

 

The selection underscores the strategic value of the Saguenay Region to Canada’s domestic supply of niobium and rare earth elements, and Québec’s intent to map and unlock one of the country’s most vital resource corridors.

 

The Péribonka Target

 

The Péribonka anomaly shows a geophysical signature similar to these known intrusions and has never been drilled, as it lies beneath sand and gravel cover. No carbonatite or REE-niobium mineralization has been confirmed at Péribonka to date. The new survey is the first modern, property-wide step toward testing it.

 

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Amendment No. 2 to the NSM Capital SARL Shareholders’ Agreement

Steadright and Critical Foundation Metals Inc. (“CFM”) have signed a second amendment to the September 25, 2025 shareholders’ agreement that governs NSM Capital SARL. The first amendment was dated April 27, 2026. The new amendment replaces Articles 3.5 and 3.6 and updates how NSM’s shareholders make decisions:

• Meetings (Article 3.5): Ordinary decisions still require shareholders holding more than half of the capital to be present or represented. Decisions on governance, management oversight or internal procedures now require the approval of both shareholders. Extraordinary resolutions require the approval of all shareholders. 

• Written resolutions (Article 3.6): Decisions may also be made in writing, with a consultation period of at least fifteen days. Governance and management matters require the agreement of both shareholders. 

Disclosure

Steadright’s CEO holds an indirect interest of approximately 6% in CFM, through a 33% stake in a private company that owns approximately 18% of CFM’s common shares. Separately, a consultant to Steadright, who is the spouse of a former Steadright director, is, together with her immediate family, the controlling shareholder of CFM and owns a majority of its common shares.

Qualified Person

David M. Pollard, C. Geol., an independent qualified person (“QP”) under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information in this press release. Information on the Shipshaw, Saint-Honoré (Niobec), Crevier, Grand Lac Brochet and Girardville systems comes from publicly available sources. The QP has been unable to verify it, and it is not necessarily indicative of mineralization on the Péribonka Project. Péribonka is an early-stage exploration target, and there is no assurance that further work will confirm a carbonatite or REE-niobium mineralization.

ABOUT STEADRIGHT CRITICAL MINERALS INC.

Steadright Critical Minerals Inc. is a mineral exploration company established in 2019.

Steadright focuses on exploration projects and historical mines in Morocco’s critical minerals sector that can be brought into production.

Steadright has exposure, through the Moroccan entity NSM Capital SARL, to a 32% interest in Shang Tang, a Moroccan company with more than 192 sq. km of mineral exploration claims known as the TitanBeach Titanium Project, along with the Copper Valley Project. Steadright also has a binding MOU for the historic Goundafa Mine in Morocco, which is fully permitted for mining operations. In Québec, Steadright is exploring the Péribonka REE-niobium carbonatite target in the Saguenay–Lac-Saint-Jean Region.

ON BEHALF OF THE BOARD OF DIRECTORS

For further information, please contact:

Simon Chapelle

Company Secretary and Director

Steadright Critical Minerals Inc.

Email: enquiries@steadright.ca

Tel: 1-905-410-0587

www.steadright.ca

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation 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 information is subject to known and unknown risks, ‎uncertainties and other factors which may cause the actual results, level of activity, performance or ‎achievements of Steadright to be materially different from those expressed or implied by such forward-‎looking information. 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 ‎exploration and ‎development of Steadright’s properties; uncertainty as to ‎the actual results of exploration and ‎development or operational activities; uncertainty as to the availability and terms of ‎future financing on ‎acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; ‎general business, economic, competitive, political and social uncertainties; capital market conditions ‎and market prices for securities, junior market securities and mining exploration company securities; ‎commodity prices; the actual results of current exploration and development or operational activities; ‎competition; changes in project parameters as plans continue 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 legislation, including environmental legislation or income tax legislation, affecting ‎Steadright; conclusions of economic evaluations; 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 applicable state securities laws, unless an ‎exemption from such registration is available.‎