Dallas, Texas--(Newsfile Corp. - June 25, 2026) - MineralRite Corporation (OTCID: RITE) ("MineralRite" or the "Company") today announced that, following management's review of the Phase 1 Evaluation and Historic Review prepared by ALS Geo Resources LLC relating to the Company's Skull Valley tailings project located in Yavapai County, Arizona, the Company intends to advance the project into a Phase 2 Drilling & Sampling Program designed to support a Regulation S-K Subpart 1300 compliant Mineral Resource Estimate, subject to the availability of adequate financing and other conditions.
The contemplated Phase 2 program is expected to include additional independent sampling, accredited laboratory analysis, metallurgical evaluation, engineering review, technical data validation, and other work relating to the Company's ongoing evaluation of the project, with the objective of determining whether the project may ultimately support the preparation of a Regulation S-K Subpart 1300 compliant report, including Mineral Resource Estimates.
MineralRite further notes that its previously announced technical evaluation activities relating to the Skull Valley project remain ongoing. Allan L. Schappert, CPG #11758, SME-RM, of ALS Geo Resources LLC, continues to conduct technical evaluation work relating to the project on behalf of the Company. The full text of his correspondence relating to certain recently concluded aspects of the Phase 1 evaluation process is available on the investor relations page of the Company's website and at:
https://mineral-rite.com/wp-content/uploads/2026/06/skullvalleyreview.pdf.
The purpose of the Phase 1 evaluation process was to review and conduct limited independent verification of certain historical third-party technical data relating to the Skull Valley project, including historical sampling results, analytical data, volumetric studies, and related site evaluation materials associated with previously processed tailings materials located at the project site.
As part of the Phase 1 evaluation process, site visits were conducted to confirm the continued existence and general integrity of the tailings pits and related project areas referenced in the historical technical materials. Following the initial site visit, limited sampling activities were also conducted.
Phase 1 also included efforts to contact the historical laboratories and analytical groups associated with portions of the historical work. One of the three historical analytical groups was contacted successfully. A Representative of the organization confirmed that the historical analytical data reviewed was consistent with the historical records. The methodologies utilized by all three analytical groups were reviewed and determined to be generally appropriate and consistent with industry practices applicable during the relevant time periods. However, the conclusions of two reports were substantially aligned, while the third produced materially higher results, was identified as a statistical outlier, and was not relied upon in determining the final comparative assessment.