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Steadright Critical Minerals Project Advances with NSM Capital Carried Interest and SOE Framework Agreement
MUSKOKA, Ontario — August 20, 2026 — Leads & Copy — Steadright Critical Minerals Inc. (CSE: SCM) has announced significant progress on its TitanBeach Titanium Project in Morocco, highlighted by NSM Capital Sarl's agreement to a 32% carried interest and the signing of a State-Owned Enterprise (SOE) Framework Agreement. NSM Capital, in which Steadright holds a 76.5% stake, will now have a full carried interest in the project, meaning no further financial contributions or dilution risk for this portion of the development.
Shan Tang Mining, a newly established Special Purpose Vehicle (SPV), has commenced preparatory infrastructure work for the pilot plant construction phase at the TitanBeach Titanium Project, located at Beach One, which recently obtained a permitted Mining License. Under the Framework of Cooperation Agreement with a State-Owned Enterprise, the SOE will be responsible for covering costs associated with planning, design, permanent works, and operations and maintenance, including employee accommodation for the pilot plant. The SOE Partner will also contribute full-process capability, mining technology, equipment, and project-operation systems for the Heavy Mineral Sands (HMS) development, and will be installing beneficiation processing equipment. A long-term mining development strategy will be determined based on the results of the pilot plant.
Steadright's economic exposure to the TitanBeach Project is an indirect consequence of its 76.5% equity interest in NSM Capital and NSM Capital's 32% full carried interest in the Shan Tang Mining SPV. This structure provides Steadright with approximately a 24.5% effective attributable share of NSM's carried interest. An existing Shareholders Agreement with Critical Foundation Metals Inc. offers Steadright the potential to acquire an additional 3.5% stake, which would increase its ownership in NSM Capital Sarl to 80%.
L. Jouak, CEO of NSM Capital, expressed enthusiasm for the project's advancement, stating, "From a dream and an idea, we have turned our vision into reality. I am very pleased that we are approaching the start of this important phase of the TitanBeach Titanium Project." He noted the current focus on preparatory infrastructure work at the Beach One site, including the establishment of designated areas for employee accommodation containers and other minor site preparations. Jouak added, "It is an exciting and very rewarding time for NSM Capital. Seeing this project move from an idea and a dream toward reality is an important milestone for everyone involved. We look forward to the next steps and to the continued development of the TitanBeach Titanium Project."
Steadright CEO Matt Lewis commented on the rapid progress, "We at Steadright are very impressed with the speed with which NSM, Shan Tang, and the SOE are moving things forward. From my perspective, that is an extremely quick breaking-of -ground for preparatory work. We look forward to milestones being reached on this project, and of course, we want to thank all the government people and the people of Morocco who have made this project possible.”
In a separate development, the Board of Directors has approved the granting of 3,840,000 stock options to Board members, consultants, and service providers under the Company's stock option plan. These options will have an exercise price of 0.25 cents CAN, a five-year term ending on April 17th, 2031, and are subject to regulatory approvals.
Steadright Critical Minerals Inc. is a mineral exploration company founded in 2019, dedicated to advancing exploration and historical mining projects within Morocco's critical minerals sector. Through NSM Capital SARL, Steadright holds interests in the 192 sq. km TitanBeach Titanium Project and the Copper Valley Project. The company also has a binding memorandum of understanding for the historic Goundafa Mine in Morocco, which possesses a permitted mining license.