Operational Progress and Field Capabilities

Through its trusted Moroccan contractors, the Strategic Mineral Corporation of Morocco (MCC) has established a full-time field presence comprising two geologists and three technicians, all overseen by a qualified independent personnel from the company based in Canada. This dedicated team is engaged in detailed geological mapping, structural interpretation, and systematic surface and underground sampling. Additionally, restoration and safety works have commenced in several historical galleries, which include drainage, removal of unstable rocks, stability assessments, ventilation improvements, and the establishment of secondary escape routes in preparation for future drilling of targets identified by the current program.

Furthermore, the company has conducted a high-resolution topographic survey using a drone over the Ouneine property and performed a 3D laser scan of accessible underground galleries. This initiative provides an accurate digital representation of the historical mining infrastructure, thereby supporting geological and structural mapping, as well as drill targeting.

Copper-Silver Sampling Results at Ouneine

At Ouneine, field mapping and prospecting have led to the identification of multiple structurally controlled copper-rich areas, primarily hosted in carbonate rocks. The mineralization is associated with quartz veins, fault corridors, hydrothermal breccias, and network veins, predominantly consisting of malachite, azurite, and chalcocite in the oxidized zones, with pyrite, chalcopyrite, bornite, and locally galena and barite observed at the surface. The copper mineralization is spatially associated with E-W to ENE-WSW oriented structures and their intersections with secondary fractures, with local extensions into the limestone host rocks along fractures, bedding planes, and vein networks, consistent with a polymetallic hydrothermal system.

A total of 49 surface rock samples were collected from the main mineralized structures within the license. The analytical results confirm the presence of high-grade copper mineralization, reaching up to 14.88% Cu (ON-GB0043), with 37 samples exhibiting copper grades exceeding 1%, including eight samples surpassing 5.29% Cu. Silver concentrations reached up to 696 g/t Ag, demonstrating a strong association with copper mineralization.

Here are some of the key findings:

  • Figure 1: Copper (Cu) analysis results from surface spot sampling on the Ouneine property.
  • Figure 2: Silver (Ag) analysis results from surface spot sampling on the Ouneine property.

At Aït Zekri, MCC has conducted preliminary lithological and structural mapping along with a program of 23 spot samples, consisting of 17 surface rock samples and five spot samples taken from the historical gallery. Gold concentrations varied from less than 0.05 g/t to 4.16 g/t Au, with 19 samples returning at least 0.10 g/t Au, and six samples reporting over 0.52 g/t Au, including two samples exceeding 2.10 g/t Au.

Some selected results include:

The mapping has identified several N20-oriented quartz veins, displaying subvertical dips, with varying widths typically between approximately 0.5 and 2.0 meters and a lateral continuity of several tens of meters. Within the gallery, the main mineralized structure extends between N40 and N50, shows a subvertical dip, and displays a brecciated quartz-carbonate texture with disseminated pyrite and significant oxidation to limonite and hematite. Locally, malachite and azurite are observed in the surface oxidation zones, and a highly altered fault corridor characterized by clay alteration and finely disseminated pyrite has been identified as a priority target for further exploration.

These results justify the continued evaluation of the ancient gold and silver system. Historical records indicate about 300 meters of underground work and 18 drill holes totaling 2,018.6 meters, including previously disclosed results of 6.70 g/t Au over 1.0 meter and underground samples that reportedly returned up to 3.31 g/t Au and 240 g/t Ag. These historical data have not been independently verified by the qualified person and should not be considered current mineral resources or mineral reserves.

*Spot samples are selective and may not represent the underlying mineralization, thickness, continuity, or average grade.

  • Figure 3: Aït Zekri permit showing the mapped quartz veins and locations of spot samples.

Exploration Activities at the District Level

As previously announced on April 20, 2026, MCC entered into an option agreement dated April 15, 2026, with MNF Groupe Inc. (“MNF”), a significant Moroccan mining company and subsidiary of Broychim S.A., granting the company an exclusive option to acquire up to an 80% interest in a district-scale portfolio located in the Western High Atlas of Morocco. This portfolio includes five operating permits, two exploration permits, and the environmental approval for a proposed central flotation plant in the Ouneine valley, encompassing the properties of Tanfit, Ijoukak, Amsghni, Aït Zekri, Ighrm, Tamadghoust, and Tizgui. Concurrently, MCC also holds a separate option to acquire a 100% interest in the operating license 393512 (Ouneine mine), which remains in good standing. The company currently plans to exercise this option before the end of 2026, subject to the completion of the administrative process for the renewal of the operating license.

The current exploration program is part of MCC's district-scale assessment of its Western High Atlas portfolio. In addition to ongoing work at Ouneine and Aït Zekri, contractors are continuing access, restoration, and target definition activities across several properties, including pumping, underground cleaning, stripping, ventilation improvements, and evaluating secondary escape routes in certain historical sites, with Tanfit being the next operational priority. Geological compilation, reconnaissance mapping, and target evaluation are also progressing at Ijoukak, Amsghni, Ighrm, Tamadghoust, and Tizgui. No analytical results from these properties are presented in this announcement. The company continues to evaluate other opportunities in Morocco that could complement its growing regional portfolio while maintaining a rigorous approach to technical assessment and capital allocation.

  • Figure 4: MCC’s Ouneine-Ijoukak hub in the Western High Atlas of Morocco.

Sampling, Analytical Methods, and Quality Assurance/Quality Control

All samples were sent to the African Laboratory for Mines and Environment (Afrilab – certified SGS) in Marrakech, Morocco. The samples were analyzed for their content of silver, copper, iron, lead, and zinc using aqua regia digestion followed by atomic absorption spectroscopy. Samples containing more than 5% Cu were reanalyzed by titration, and gold was assayed by fire assay.

The initial quality assurance and quality control program included the insertion of certified reference materials (standards) and blank samples at a rate of one per every 15 samples, along with pulp duplicates at the same frequency (one per every 15 samples).

The scientific and technical information contained in this announcement has been reviewed and approved by Merouane Rachidi, Ph.D., P.Geo., a qualified independent person under National Instrument 43-101. Dr. Rachidi oversees the technical supervision and supports the company’s field program in Morocco.

As reported by lesoleil.com.