The Conversation (0)
(TheNewswire)
 | |||||||||
Muskoka, Ontario TheNewswire - September 11th, 2026 - Steadright Critical Minerals Inc. (CSE:SCM,OTC:SCMNF ) ("Steadright" or "SCM") is pleased to announce that it 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 represents a low‑cost exploration opportunity for critical minerals, strategically positioned within a proven alkaline intrusive district that hosts Canada's only producing niobium mine.
Péribonka REE–Niobium Carbonatite Project Overview
The Péribonka Project covers a distinct ovoid magnetic anomaly interpreted to represent a carbonatite or alkaline intrusive body comparable to nearby niobium‑ and tantalum‑bearing systems associated with the Saguenay Graben.
Key Geological Features
-
Characteristic ovoid magnetic anomaly with deep roots and a surrounding magnetic negative ring.
-
Covered by thin alluvial sand deposits, with bedrock estimated at 30–60 metres depth
-
Anomalous trace Rare Earth Element values at surface in historical government datasets (GM40582).
-
100% ownership of 37 contiguous claims, with expansion potential.
-
Road‑accessible, no helicopter support required.
-
Located a few kilometres north of St‑Ludger‑de‑Milot, with nearby powerlines, roads, and port access.
Regional Context: Saguenay Graben Alkaline Intrusions
The Property lies within a major structural corridor hosting multiple alkaline and carbonatite intrusions, including:
-
Niobec Mine (St‑Honoré)— operating since 1976, the only niobium mine outside Brazil.
-
Crevier Nb‑Ta nepheline syenite dyke, extending over 3 km (SGS Technical Report, 2010).
-
Shipshaw and Falardeau carbonatites, discovered between 2010–2013.
The Péribonka anomaly exhibits similar geophysical characteristics to these known intrusions and remains completely untested by drilling due to overlying sand and gravel.
Click Image To View Full Size
Option Agreement Terms
Steadright Critical Minerals Inc. has signed an Option Agreement dated September 8, 2026 with:
-
Critical Foundation Metals Inc. ("CFM")– 25% carried interest holder
-
Michel Gaudreault– Vendor 1, current claim holder
-
Frédéric Bergeron– Vendor 2, current claim holder
The Vendors grant SCM the exclusive option to acquire a 75% undivided interest in the Péribonka Property.
-
25% Critical Foundation Metals Inc. (CFM)
Consideration to Vendors
Share Issuance
SCM will issue 1,000,000 common shares as follows:
-
Vendor 1: 500,000 shares
-
Vendor 2: 500,000 shares
Breakdown:
-
600,000 shares issued immediately (300,000 to each Vendor), subject to a four‑month hold.
-
400,000 shares issued within six months of signing (200,000 to each Vendor).
Net Smelter Royalty (NSR)
The Vendors retain a 3.5% NSR on all production.
NSR Buyback
SCM may repurchase 1.5% of the NSR for $2,500,000 CAD, leaving a continuing 2% NSR with the Vendors.
Carried Interest – Critical Foundation Metals Inc. (CFM)
-
CFM retains a 25% carried interest
-
SCM will fund up to $1,000,000 CAD in exploration expenditures on behalf of CFM.
-
A joint exploration committee (SCM + CFM) will determine allocation of expenditures and approve any amounts exceeding $1,000,000.
Minimum Financing Requirement
SCM must expend $400,000 CAD on exploration or development on or before October 30, 2027.
Vendor Take‑Back Clause
If SCM fails to meet this requirement:
-
Vendors regain 100% ownership of the mineral claims.
-
All SCM rights and obligations terminate.
-
Shares and NSR already granted remain with the Vendors.
First Right of Refusal
CFM retains first right of refusal on any future sale, transfer, or disposition of the Property or any interest therein.
CEO, Matt Lewis states that, "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 are deemed at a price of 12 cents per share.
Disclosure
The CEO of Steadright holds an approximate 7% indirect interest in CFM through a 33% ownership in a private entity that owns approximately 21% of the common shares of CFM. In addition, a consultant of the Company is the spouse of a former Director of Steadright. This person, with her immediate family, is the controlling shareholder of Critical Foundation Metals Inc. and owns a majority of the common shares in CFM.
Qualified Person
Mr. David M. Pollard, C. Geol., who is a qualified person ("QP") under the National Instrument 43-101 – Standards of Disclosure of Mineral Projects, has reviewed and approved the scientific and technical information in this press release. With notice to the reader that all information requires verification.
ABOUT Steadright Critical Minerals Inc.
Steadright Critical Minerals Inc. is a mineral exploration company established in 2019.
Steadright has been focused on finding exploration and historical mining projects that can be brought into production within the Moroccan critical mineral space.
Steadright currently has exposure through a Moroccan entity known as NSM Capital
Sarl, with over 192 sq. km. of mineral exploration claims called the TitanBeach Titanium
Project, along with the Copper Valley Project. Steadright also has a binding MOU
for the historic Goundafa Mine within the Kingdom of Morocco.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
Simon Chapelle
Independent Director
Steadright Critical Minerals Inc.
Email: enquires@steadright.ca
Tel: 1-905-410-0587
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.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Steadright to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: there is no certainty that the ongoing programs will result in significant or successful exploration and development of Steadright's properties; uncertainty as to the actual results of exploration and development or operational activities; uncertainty as to the availability and terms of future financing on acceptable terms; uncertainty as to timely availability of permits and other governmental approvals; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting Steadright; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") 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 unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
Copyright (c) 2026 TheNewswire - All rights reserved.
