Morocco Strategic Minerals Corp. Announces District-Scale Option Agreement in Morocco’s Western High Atlas

MONTRÉAL, April 20, 2026 (GLOBE NEWSWIRE) — Morocco Strategic Minerals Corporation (TSXV: MCC) (“Morocco Strategic Minerals” or the “Corporation”) is pleased to announce that it has entered into an option agreement dated April 15, 2026 (the “Option Agreement”) with MNF Groupe Inc. (“MNF”), a Moroccan mining company and subsidiary of Broychim S.A., pursuant to which MCC has been granted an exclusive option to acquire up to an 80% interest in a portfolio of mineral assets located in the Western High Atlas region of Morocco. The option covers five exploitation licences, being 373220 (Tanfit Mine), 373221 (Ijoukak), 373422 (Amsghni), 393506 (Aït Zekri Mine) and 393505 (Ighrm), two research permits, being 3941791 (Tamadghoust) and 3942613 (Tizgui), and the environmental authorization relating to the construction of a central flotation plant attached to licences 393506 and 393505 in the Ouneine Valley.

In parallel, the Company has also secured a separate option to acquire a 100% interest in licence 393512 (Ouneine Mine), which, if exercised, would bring MCC’s regional portfolio in the Ouneine Valley to six exploitation licences, two research permits and the environmental authorization for the construction of a central flotation plant.

A Historical Mining Camp with District-Scale Exploration Potential

The transaction provides MCC with exposure to a historical copper-gold-silver mining camp located in Morocco’s Western High Atlas. The property package covers more than 57 km² and comprises multiple past-producing mines, underground workings, mineralized structures, legacy production centres, and stockpiles within a consolidated land position. The most notable include the Tanfit (Cu-Ag), Ouneine (Cu-Ag), and Aït Zekri (Au-Ag) mines.

In the Company’s view, the primary opportunity lies in the contrast between a well-established historical mineral endowment and the limited extent of modern, systematic exploration completed to date. Across the Ouneine–Ijoukak area, mineralization is associated with repeated faulting, quartz veining, sulphide development, hydrothermal brecciation, and strong alteration, with structures extending along kilometre-scale trends. At Aït Zekri, gold-bearing structures are reported with multiple parallel and converging zones mapped both at surface and underground.

Copper represents the most significant historical production driver. The Tanfit and Ouneine mines were the principal centres of past copper extraction. At Tanfit, historical production* between the 1960s and early 1970s reportedly yielded concentrate grades ranging from 25% to 29% Cu, with later operations processing ore grading approximately 2.0% to 2.1% Cu at metallurgical recoveries near 85%. At Ouneine, historical reports describe multiple copper-bearing veins hosted within Cambrian rocks. Hand-sorted material reportedly yielded concentrates* grading approximately 27% Cu with silver values of around 250 g/t Ag.

*Historical production figures and other referenced data are historical in nature and should not be relied upon as indicative of current mineral resources or mineral reserves. A Qualified Person has not verified these data and has not completed sufficient work to classify them as current mineral resources or mineral reserves. The Company is not treating these historical data as such.

Recent surface and underground sampling** (total of 12 selected rock samples, Table 1) conducted by MCC at Tanfit and Ouneine, including both in situ mineralization and historical stockpiles confirmed the presence of high-grade copper mineralization. At Tanfit, results returned values of up to 23.76% Cu and 137 g/t Ag, with an average of 10.4% Cu across the selected samples. At Ouneine, results returned up to 16.03% Cu, with an average of 7.3% Cu across the selected samples. These results highlight the strong potential of these vein hosted systems, with additional upside from historical stockpiles.

Table 1: The location of the selected rock samples conducted by MCC.

**The recent MCC sample results referenced above include grab samples, which are selective by nature and may not be representative of the underlying mineralization. The reported results represent point samples only and should not be interpreted as indicative of the extent, continuity, or grade of mineralization.

The Aït Zekri mine further demonstrates the precious metals potential of the district, with approximately 300 metres of underground development and 18 drill holes (SAZ 1 to SAZ 18) totalling 2,018.6 metres. Gold intercepts from recent drilling include:

• SAZ-1 returned 1.15 g/t Au over 3.4 m (from 24.25 m to 27.65 m)
• SAZ-4 returned 0.66 g/t Au over 3.85 m (from 39.80 m to 43.65 m)
• SAZ-6 returned 1.07 g/t Au over 3.1 m (from 54.20 m to 57.30 m)

Higher-grade intervals were intersected in:

• SAZ-12, which returned 6.70 g/t Au over 1.0 m (from 45.70 m to 46.70 m), and 1.40 g/t Au over 1.0 m (from 60.70 m to 61.70 m)
• SAZ-13, which returned 1.55 g/t Au over 1.0 m (from 57.30 m to 58.30 m).

Underground sampling (25 samples from adit G1) returned significant gold and silver values, highlighting the strong precious metals potential of the system. Gold values reached up to 3.31 g/t Au (E24), with several samples exceeding 2.0 g/t Au, including 3.14 g/t Au (E20) and 2.76 g/t Au (E25). Silver assays were also notable, with values up to 240 g/t Ag (E12), as well as 139 g/t Ag and 115 g/t Ag, and multiple samples exceeding 100 g/t Ag.

^***These results are derived from historical sampling and have not been independently verified by the Qualified Person. While considered indicative, they should not be relied upon as definitive. A systematic exploration program, including confirmatory sampling, QA/QC protocols, and drilling, is planned to validate these results and further assess the continuity, grade, and extent of mineralization.

Figure 1: MCC’s Ouneine-Ijoukak Hub composed of 6 producing licenses, 2 Research Permits and the Environmental Acceptance Authorisation for the Construction of a Flotation Facility in the Ouneine Valley, Western Anti-Atlas

Access, Infrastructure and Development Positioning

The package is located approximately 96 km south of Marrakech and is accessible from both Marrakech and Agadir via the R203 and Tizi n’Test corridor, one of the principal routes linking the High Atlas to southern Morocco.The Company notes that reconstruction and rehabilitation works continue in the broader Tizi n’Test and Al Haouz region following the 2023 earthquake, which is expected to support long-term regional access. From a development perspective, the Company believes the district benefits from a rare combination of practical advantages in the Atlas Mountains: exploitation licences are already in place, the package includes environmental authorization for a central flotation plant, the Ouneine Valley offers substantial flat ground suitable for plant construction, access to water is available, and the district is located between Marrakech and Agadir, providing access to regional contractors, services and skilled labour. Taken together, these factors support a credible pathway toward development, subject to the results of ongoing technical work.

Figure 2: Ouneine-Ijoukak Hub Location and Access

Principal Terms of the Option Agreements

Under the Option Agreement with MNF, MCC has received a four-month due diligence period and full exclusivity over the assets, commencing on April 15, 2026. Following satisfactory due diligence, MCC is required to pay US$1,000,000 in cash to MNF in four instalments of US$250,000, with the first payment due no later than August 15, 2026 and the remaining three payable three, six and nine months after the first payment.

Following a successful due diligence process, MCC will then have a three-year option period to acquire an 80% undivided interest in the assets by paying an additional US$10,000,000 in cash. Upon exercise, MCC would hold 80% and MNF would retain 20%, with MCC acting as operator under a joint venture structure. If MNF elects not to contribute its proportionate share of expenditures after exercise, its 20% interest will be converted into a 2% NSR royalty.

Separately, MCC has secured a second option agreement to acquire a 100% interest in licence 393512 (Ouneine Mine) for an upfront option payment of MAD 150,000 (approximately C$22,000) and an exercise price of C$1,000,000, exercisable on or before June 15, 2026.

The agreement also provides that MCC may, at its discretion, add one or more additional regional assets, including the Ouneine Mine (license 393512), to the project perimeter. If MNF elects not to participate in such additional assets at the prorated 80%–20% interest at the time of option exercise, those assets shall remain the exclusive property of MCC.

About Morocco Strategic Minerals

Morocco Strategic Minerals Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of mineral properties of merit in Canada and Morocco.

About MNF Groupe

MNF Groupe Inc. is a Moroccan mining company and a subsidiary of Broychim S.A. a Moroccan industrial group that has been active for more than forty years and is recognized as a leader in mineral processing, chemical transformation, and the distribution of industrial products used across the glass, paint, plastics, ceramics, and construction sectors.

Qualified Person

The scientific and technical information in this release has been reviewed and approved by Merouane Rachidi, Ph.D., P.Geo., an independent Qualified Person in compliance with National Instrument 43-101.

Sample Analysis Method

All selected samples taken by MCC were submitted to African Laboratory for Mining and Environment (Afrilab – SGS Certified) in Marrakech, Morocco.

All samples were analyzed for silver, copper, iron, lead and zinc using aqua regia digestion with an atomic absorption spectroscopy (“AAS”) finish. Samples containing greater than 5% Cu were reanalyzed using titration. Gold was assayed by fire assay. No QA/QC samples were included in this sampling program.

About Morocco Strategic Minerals

MCC is a Canadian mineral exploration company focused on the acquisition, exploration, and, if warranted, development of natural resource properties of merit in Canada and Morocco.

Contact Information

Téléphone : 579-476-7000
Courriel : info@moroccosm.com

Pierre-Olivier Goulet
Vice-President Corporate Development

Guy Goulet
President and CEO

Forward-Looking Statements and Disclaimer

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the exercise of the option agreements, the acquisition of interests in the referenced mineral assets, the exploration and development potential of the Ouneine Valley district, the availability of infrastructure and access, and the Corporation’s plans, objectives and expectations with respect to the project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “believes”, “intends”, “may”, “will” or variations of such words and phrases, or statements that certain actions, events or results “will”, “may”, “could” or “should” occur. Forward-looking information is based on the Corporation’s estimates and assumptions as of the date of this release and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Readers should not place undue reliance on forward-looking information. The Corporation undertakes no obligation to update or revise such information except as required by applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/73933d74-e520-49f0-819b-542284c63019

https://www.globenewswire.com/NewsRoom/AttachmentNg/063cf484-6eb7-4dba-8e68-191b9bfbb4d0