Steadright Critical Minerals Inc. Removes Technical Report Amid OSC Review, Engages New Qualified Person
MUSKOKA, Ontario — June 12, 2026 — Leads & Copy — Steadright Critical Minerals Inc. (CSE: SCM) has removed the TitanBeach One Technical Report from its disclosure record following comments from staff of the Ontario Securities Commission (OSC). The report, titled “NI 43-101 Technical Report on the TitanBeach One (1) Project, Kingdom of Morocco” and dated December 1, 2025, was also removed from the Company’s website and corporate presentations.
The OSC’s comments pertained to suggested amendments for Items 16 (Mining Methods), 17 (Recovery Methods), 18 (Project Infrastructure), and 19 (Market Studies) of NI 43-101, as detailed in the Technical Report, along with certain website and corporate presentation disclosures. The Company stated that the failure of the original geologist to agree to amend the report, which had already been paid for, necessitated the engagement of a new geologist to complete the report accurately.
Following further discussions with the original author of the Technical Report and independent consultants, Steadright determined that disclosure related to Items 16, 17, 18, and 19 was not appropriate at this early stage of exploration for the Project.
The Company has elected to proceed with a refiling of the Technical Report, with Mr. David M. Pollard, C. Geologist, serving as the qualified person (QP) under National Instrument 43-101. Mr. Pollard, who has spent a significant portion of his career as a mineral exploration geologist in Africa, is a Validated Fellow of the Geological Society of London (Chartered Geologist) and a Member of the Society of Economic Geologists, specializing in Alluvial systems. He anticipates a completion timeframe of 4-6 weeks for the revised report.
CEO Matt Lewis expressed enthusiasm for the short turnaround time and commitment to the TitanBeach Project’s potential. Lewis stated satisfaction with the selection of Mr. Pollard, citing his recommended experience in Africa, professional standing, and expected efficient and insightful work. Lewis contrasted this with the Company’s prior experience.
Additionally, Steadright has granted 400,000 stock options to consultants at a strike price of 25 cents. These options are exercisable for five years, expiring on June 11, 2031, in accordance with the company’s stock option plan as amended in 2022.
Steadright Critical Minerals Inc. is a mineral exploration company founded in 2019, focused on identifying and developing exploration and historical mining projects within the Moroccan critical mineral sector. The Company holds exposure through NSM Capital Sarl, a Moroccan entity, with over 192 sq. km of mineral exploration claims, including the TitanBeach Titanium Project and the Coper Valley Project. Steadright also has a binding Memorandum of Understanding for the historic Goundafa Mine in the Kingdom of Morocco.
Source: Steadright Critical Minerals Inc.Share this story:
