Steadright Critical Minerals Inc. Acquires Option for Péribonka Rare Earth Element and Niobium Project in Québec
Muskoka, Ontario – September 11, 2026 – Leads & Copy – Steadright Critical Minerals Inc. (CSE:SCM) has entered into a definitive Option Agreement to acquire up to a 75% interest in the Péribonka Rare Earth Element (REE) and Niobium Carbonatite Project, located in the Saguenay–Lac‑Saint‑Jean Region of Québec, Canada. The property is described as a low-cost exploration opportunity for critical minerals, situated within a known alkaline intrusive district that contains Canada’s sole producing niobium mine.
The Péribonka Project encompasses a distinct ovoid magnetic anomaly, interpreted to be a carbonatite or alkaline intrusive body. This geological formation is comparable to nearby niobium- and tantalum-bearing systems associated with the Saguenay Graben. Key geological features of the property include an ovoid magnetic anomaly with deep roots and a surrounding magnetic negative ring. The area is covered by thin alluvial sand deposits, with bedrock estimated to be between 30 and 60 metres below the surface. Historical government datasets have indicated anomalous trace Rare Earth Element values at surface. The project comprises 37 contiguous claims, with potential for expansion, and is road-accessible without the need for helicopter support. It is located a few kilometres north of St‑Ludger‑de‑Milot and benefits from proximity to powerlines, roads, and port access.
Regionally, the property is situated within a significant structural corridor that hosts multiple alkaline and carbonatite intrusions. These include the Niobec Mine in St‑Honoré, which has been operating since 1976 and is the only niobium mine outside Brazil. Also in the vicinity is the Crevier Nb-Ta nepheline syenite dyke, extending over 3 km, and the Shipshaw and Falardeau carbonatites discovered between 2010 and 2013. The Péribonka anomaly shares similar geophysical characteristics with these known intrusions and has not yet been tested by drilling due to the overlying sand and gravel.
Under the terms of the Option Agreement, dated September 8, 2026, Steadright Critical Minerals Inc. has the option to acquire a 75% undivided interest in the Péribonka Property. Critical Foundation Metals Inc. (CFM) will retain a 25% carried interest. The agreement is with vendors Michel Gaudreault and Frédéric Bergeron. Steadright will issue a total of 1,000,000 common shares to the vendors: 500,000 shares to Vendor 1 and 500,000 shares to Vendor 2. Of these shares, 600,000 will be issued immediately, subject to a four-month hold period, with the remaining 400,000 shares to be issued within six months of signing. The vendors will retain a 3.5% Net Smelter Royalty (NSR) on all production. Steadright has the option to repurchase 1.5% of the NSR for $2,500,000 CAD, which would leave the vendors with a continuing 2% NSR.
CFM will have a 25% carried interest, and Steadright will fund up to $1,000,000 CAD in exploration expenditures on behalf of CFM. A joint exploration committee, comprising Steadright and CFM, will oversee the allocation of expenditures and approve any amounts exceeding $1,000,000. Steadright is also required to expend a minimum of $400,000 CAD on exploration or development by October 30, 2027. Failure to meet this minimum financing requirement will result in the vendors regaining 100% ownership of the mineral claims, terminating all of Steadright’s rights and obligations, while shares and NSR already granted will remain with the vendors. CFM retains a first right of refusal on any future sale, transfer, or disposition of the Property.
Matt Lewis, CEO of Steadright, stated, “The Péribonka anomaly is one of the last untested carbonatite-style targets in the Saguenay Graben, located between two proven critical-metal districts. This agreement positions Steadright to advance a highly prospective REE–Nb target with excellent infrastructure and low exploration costs.” The shares involved in the transaction are valued at 12 cents per share.
Disclosures indicate that the CEO of Steadright holds an approximate 7% indirect interest in CFM through ownership in private entities. Additionally, a consultant of Steadright is the spouse of a former Director, and this individual, with her immediate family, is the controlling shareholder of CFM. Mr. David M. Pollard, C. Geol., a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release, with a note that all information requires verification.
Steadright Critical Minerals Inc., established in 2019, is a mineral exploration company historically focused on projects in Morocco. The company currently has exposure through its Moroccan entity NSM Capital Sarl, with claims for the TitanBeach Titanium Project and the Copper Valley Project, as well as a binding MOU for the historic Goundafa Mine.
Source: Steadright Critical Minerals Inc.
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