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Steadright Critical Minerals Secures 32% Carried Interest in TitanBeach Titanium Project
Muskoka, Ontario — August 18, 2026 — Leads & Copy — Steadright Critical Minerals Inc. (CSE: SCM) announced Tuesday that its Moroccan entity, NSM Capital SARL, has secured a full 32% carried interest in the TitanBeach Titanium Project. This agreement follows the recent acquisition of the TitanBeach Mining License and establishes a non-dilutive stake for NSM Capital, in which Steadright holds a 76.5% interest.
The environmental permit for the project has also passed its public review stage and is awaiting final signature. NSM Capital's management team finalized the carried interest agreement with Homme Construction, a Moroccan company, ensuring no further contribution toward exploration or production costs for NSM Capital.
The TitanBeach claim package spans 192 square kilometers, with a 16-square-kilometer area now designated as a permitted mining concession. This marks the first mining license granted for coastal-waters heavy mineral sands (HMS) recovery in the Atlantic Ocean.
NSM Capital and Homme Construction have established a Moroccan special purpose vehicle, Shan Tang Mining, to which the TitanBeach claims have been transferred. NSM Capital will hold a 32% carried interest in Shan Tang Mining, and L. Jouak, General Manager of NSM Capital, will serve as one of two General Managers for the new entity.
Shan Tang Mining has entered into a Framework Cooperation Agreement with a State-Owned Enterprise (SOE) engineering and construction Group, designated as the SOE Partner. This agreement will encompass planning, design, permanent works, and operations and maintenance. The SOE Partner is expected to contribute comprehensive capabilities, including established mining technology, equipment, and project-operation systems for the HMS development.
The initial scope under the Framework Agreement includes the development of a Pilot Plant operation at TitanBeach and the creation of a long-term mining strategy, contingent on pilot plant results. The agreement also allows for the installation of additional beneficiation processing equipment, an amendment to which was signed on July 10, 2026.
Steadright's economic stake in the TitanBeach Project is realized indirectly through its 76.5% equity interest in NSM Capital and NSM Capital's 32% carried interest in Shan Tang Mining. Steadright's attributable share of NSM's carried interest is approximately 24.5%. Under a Shareholders Agreement with Critical Foundation Metals Inc., Steadright has the potential to increase its interest in NSM Capital to 80%, which would raise Steadright's effective attributable share.
NSM Capital management highlighted that the new 32% carried interest is anticipated to deliver significant value to Steadright Critical Minerals Inc. They emphasized the partnership with a multinational entity possessing the scale required for an HMS project of this potential magnitude. The Shan Tang Mining SPV allows NSM Capital to engage in project design and operations while leveraging the expertise and financial capacity of its partners. The company also extended thanks to Rachid Manar, Regional Director of the Department of Energy Transition in Guelmim, and his team for their support.
Steadright CEO Matt Lewis expressed pride in the achievements of the NSM Capital team and L. Jouak, stating that securing the license and establishing these agreements represent substantial progress. He indicated anticipation for the advancement of the TitanBeach Project and the continued development of these partnerships.
Steadright Critical Minerals Inc., founded in 2019, is a mineral exploration company focused on advancing exploration and historical mining projects toward production within Morocco's critical minerals sector. The company's interests are held through NSM Capital SARL, which manages the TitanBeach Titanium Project and the Copper Valley Project. Steadright also holds a memorandum of understanding for the historic Goundafa Mine in Morocco, which possesses a permitted mining license.