Muskoka, Ontario — December 9, 2025 — Leads & Copy — Steadright Critical Minerals Inc. (CSE: SCM) has announced the signing of a binding Memorandum of Understanding (MOU) with Ste Commerciale et Minière du Sahara (CMS) on December 5, 2025, securing rights to the historic polymetallic Goundafa Mine.
The agreement allows Steadright to acquire up to 100% of CMS Assets through cash and/or share-based compensation. The Goundafa Project is located within Concession Number 55, encompassing 1,600 hectares with a fully permitted License in the Goundafa Area of South Central Morocco, specifically within the County of Ijoukak.
After conducting due diligence and further exploration at the Goundafa Mine site, Steadright’s Board of Directors decided to proceed with the Binding MOU agreement, providing a $500,000 USD non-refundable deposit, subject to the terms outlined in the Binding MOU. The MOU extends the payment schedule to 36 months, replacing the original 9-month term, and allows Steadright to accelerate payments through cash or shares as exploration progresses.
Key terms of the Binding MOU include:
- Acquisition of up to 100% of the seller’s Corporation and CMS Assets through cash and/or share-based compensation in an arm’s length transaction.
- A 1% Net Smelter Royalty (NSR) on all exploration and Exploitation Mining licenses.
- A 5% cash or share finders’ fee (arm’s length).
- Total payment of $8,000,000 USD in cash or shares, according to the following schedule:
- $500,000 USD cash payment already made on December 5th, 2025.
- $1,000,000 USD on or before December 28th, 2026.
- $750,000 USD on or before June 25th, 2027.
- $750,000 USD on or before December 28th, 2027.
- $750,000 USD on or before June 26th, 2028.
- $4,250,000 USD on or before December 28th, 2028.
The agreement stipulates that all mining activities must be approved by both parties, with profits shared on a 50/50 basis until final payments are completed.
Steadright has cancelled the current Private Placement at 0.22 cents due to material information. Funds submitted after the first tranche from subscription agreements received will be refunded.
CEO Matt Lewis emphasized the importance of the MOU, stating that the extended duration and back-ended payment structure provides the company with the ability to conduct significant exploration, which is expected to increase the value and de-risk the Goundafa Mine project. Mr. Lewis noted that exploration has been underway since June.
Steadright Critical Minerals Inc. was established in 2019 and has been focused in 2025 on identifying and developing critical mineral exploration projects in Morocco. The company also owns the RAM project near Port Cartier, Quebec, which is prospective for Ni, Cu, Co, and precious metals.
Matt Lewis
CEO & Director
Steadright Critical Minerals Inc.
Email: enquires@steadright.ca
Tel: 1-905-410-0587
Source: Steadright Critical Minerals Inc.
