Agreement follows TitanBeach Mining License and establishes a full, non-dilutive 32% carried interest for NSM Capital in
the project's development
Muskoka, Ontario – August 18 th, 2026 – Steadright Critical Minerals Inc. (CSE: SCM) ("Steadright" or the "Company") is pleased to provide shareholders with an update on the TitanBeach Titanium Project in the Kingdom of Morocco, following last week's announcement of the TitanBeach Mining License. NSM Capital SARL ("NSM Capital"), the Moroccan entity in which Steadright holds a 76.5% interest, has secured a full 32% carried interest in the TitanBeach Project, and approval of the environmental permit has passed the public process stage and is waiting to be signed any day now.
NSM Capital's Moroccan management team has finalized a binding 32% carried interest in the TitanBeach Titanium Project with Homme Construction, a Moroccan company. The interest carries no dilution risk to NSM Capital and requires no further contribution toward exploration or production costs. The 192 sq. km TitanBeach claim package includes a 16 sq. km area that has now been converted to a permitted mining concession, representing the first mining license granted for coastal-waters heavy mineral sands (HMS) recovery in the Atlantic Ocean.
Formation of the Shan Tang Mining SPV / SOE
NSM Capital and Homme Construction have formed a Moroccan special purpose vehicle, Shan Tang Mining, into which the TitanBeach claims have been transferred. NSM Capital holds a full 32% carried interest in Shan Tang Mining, and NSM Capital General Manager L. Jouak will serve as one of two General Managers of the new entity.
Shan Tang Mining has signed a Framework Cooperation Agreement with a State-Owned Enterprise engineering and construction Group (the "SOE Partner"). The agreement covers planning, design, permanent works, and operations and maintenance. The SOE Partner brings full-process capability and established mining technology, equipment, and project-operation systems to the HMS development.
Under the Framework Agreement, the SOE Partner's initial scope comprises a Pilot Plant operation at TitanBeach, alongside development of a long-term mining strategy, which is subject to pilot plant results. The agreement contemplates installation of additional beneficiation processing equipment, which was signed on July 10th, 2026.
Steadright's economic exposure to the TitanBeach Project is held indirectly, through its 76.5% equity interest in NSM Capital and NSM Capital's 32% full carried interest in the Shan Tang Mining SPV. The table below summarizes the ownership structure as currently disclosed.
*Under a Shareholders Agreement with Critical Foundation Metals Inc, Steadright can obtain an additional
3.5% which will bring Steadright to 80% of NSM Capital Sarl.
Muskoka, Ontario – August 18 th, 2026 – Steadright Critical Minerals Inc. (CSE: SCM) ("Steadright" or the "Company") is pleased to provide shareholders with an update on the TitanBeach Titanium Project in the Kingdom of Morocco, following last week's announcement of the TitanBeach Mining License. NSM Capital SARL ("NSM Capital"), the Moroccan entity in which Steadright holds a 76.5% interest, has secured a full 32% carried interest in the TitanBeach Project, and approval of the environmental permit has passed the public process stage and is waiting to be signed any day now.
NSM Capital's Moroccan management team has finalized a binding 32% carried interest in the TitanBeach Titanium Project with Homme Construction, a Moroccan company. The interest carries no dilution risk to NSM Capital and requires no further contribution toward exploration or production costs. The 192 sq. km TitanBeach claim package includes a 16 sq. km area that has now been converted to a permitted mining concession, representing the first mining license granted for coastal-waters heavy mineral sands (HMS) recovery in the Atlantic Ocean.
Formation of the Shan Tang Mining SPV / SOE
NSM Capital and Homme Construction have formed a Moroccan special purpose vehicle, Shan Tang Mining, into which the TitanBeach claims have been transferred. NSM Capital holds a full 32% carried interest in Shan Tang Mining, and NSM Capital General Manager L. Jouak will serve as one of two General Managers of the new entity.
Shan Tang Mining has signed a Framework Cooperation Agreement with a State-Owned Enterprise engineering and construction Group (the "SOE Partner"). The agreement covers planning, design, permanent works, and operations and maintenance. The SOE Partner brings full-process capability and established mining technology, equipment, and project-operation systems to the HMS development.
Under the Framework Agreement, the SOE Partner's initial scope comprises a Pilot Plant operation at TitanBeach, alongside development of a long-term mining strategy, which is subject to pilot plant results. The agreement contemplates installation of additional beneficiation processing equipment, which was signed on July 10th, 2026.
TitanBeach Titanium Project Beach One
Ownership and Attributable InterestSteadright's economic exposure to the TitanBeach Project is held indirectly, through its 76.5% equity interest in NSM Capital and NSM Capital's 32% full carried interest in the Shan Tang Mining SPV. The table below summarizes the ownership structure as currently disclosed.
| Interest | Holder | Percentage |
|---|---|---|
| Steadright equity interest in NSM Capital | Steadright Critical Minerals Inc. | 76.5% |
| NSM Capital carried interest in Shan Tang Mining / TitanBeach | NSM Capital SARL | 32.0% (full carry - no further cost obligation) |
| Steadright's attributable share of NSM's carried interest | Steadright Critical Minerals Inc. (indirect) | ≈24.5% effective |
Management Commentary
NSM Capital management stated: "Work continues toward substantial progress for the TitanBeach Titanium and Iron Project, alongside the Copper Valley Mining Concession. The new 32% carried interest is expected to provide meaningful value to our shareholder, Steadright Critical Minerals Inc., alongside a multinational partner with the scale required to operate an HMS project of this potential size. The Shan Tang Mining SPV allows NSM Capital to participate in project design and operations while benefiting from our partners' expertise and financial capacity. NSM Capital looks forward to providing continued updates to Steadright. We also extend particular thanks to Mr. Rachid Manar, Regional Director of the Department of Energy Transition in Guelmim, and his team, for their professionalism and support throughout this process."
Steadright CEO Matt Lewis commented: "We are proud of what the NSM Capital team and L. Jouak have achieved. Securing this license and forging agreements of this caliber represents significant progress. We look forward to advancing the TitanBeach Project and to the continued development of these partnerships."
About Steadright Critical Minerals Inc.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019, focused on advancing exploration and historical mining projects toward production within Morocco's critical minerals sector. Steadright holds its interest through NSM Capital SARL, which controls the 192 sq. km TitanBeach Titanium Project and the Copper Valley Project. Steadright also holds a binding memorandum of understanding for the historic Goundafa Mine in Morocco, which holds a permitted mining license.
On Behalf of the Board of Directors
Simon Chapelle, Director & Secretary
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.
This release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements regarding the TitanBeach Project, the Framework Cooperation Agreement, planned pilot and large-scale production phases, and any potential production or revenue outcomes referenced herein. Forward-looking information is based on assumptions and is subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including but not limited to: uncertainty as to whether ongoing programs will result in successful exploration or development; uncertainty as to actual exploration, development, or operational results; availability and terms of future financing; timely receipt of permits and governmental approvals; general business, economic, competitive, political, and social conditions; capital markets and commodity price volatility; changes in project parameters as plans are refined; risks inherent to mining, including accidents and lack of insurance; delay or failure to obtain board or regulatory approvals; changes in legislation, including environmental and tax legislation; the results of future economic evaluations; and the availability of qualified personnel.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referenced have not been and will not be registered under the U.S. Securities Act of 1933, as amended, 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 absent registration or an applicable exemption from registration.