MineralRite Announces Advancement of Skull Valley Project into Phase 2 Verification and Analytical Program
https://www.newsfilecorp.com/release/302859/M...al-Program
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/2...review.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.
Limited independent sampling activities conducted during Phase 1 detected the presence of certain precious metals in the samples analyzed, consistent with metals identified in the historical analytical data. These samples were limited in number and selective in nature, are not representative of the tailings as a whole, and should not be regarded as confirming the presence, grade, continuity, or economic recoverability of any mineralization. Establishing a representative mineral resource would require the more comprehensive sampling and drilling program contemplated for Phase 2. The Company cautioned that the Phase 1 activities were limited in scope and were not intended to constitute a comprehensive metallurgical, resource, reserve, or economic evaluation of the project.
Management Commentary
"With the additional information provided by ALS Geo Resources LLC, together with the historical technical information reviewed to date, management believes sufficient support exists to advance the project into a more comprehensive Phase 2 drilling and sampling process," stated James Burgauer, President of MineralRite Corporation. "Our objective during Phase 2 will be to further evaluate the technical characteristics of the previously processed materials located at the site, with the objective of determining whether the project may ultimately support the preparation of a Regulation S-K Subpart 1300 compliant technical report."
Burgauer continued, "The contemplated Phase 2 work program is expected to include additional drilling and core sampling activities, expanded independent laboratory testing, a substantially increased number of analytical assays, additional metallurgical evaluation, engineering review, and further technical analysis intended to better quantify the nature, extent, characteristics, and potential value of the previously processed tailings materials located at the site."
"At this time, the Company has not established mineral resources or mineral reserves under SEC Regulation S-K Subpart 1300, and substantial additional technical work remains necessary before any conclusions regarding economic feasibility, metallurgical recoverability, or commercial viability can be reached," Burgauer added.
"Additional updates regarding the Phase 2 drilling and sampling program will be provided as material developments occur," Burgauer concluded.
https://www.newsfilecorp.com/release/302859/M...al-Program
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/2...review.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.
Limited independent sampling activities conducted during Phase 1 detected the presence of certain precious metals in the samples analyzed, consistent with metals identified in the historical analytical data. These samples were limited in number and selective in nature, are not representative of the tailings as a whole, and should not be regarded as confirming the presence, grade, continuity, or economic recoverability of any mineralization. Establishing a representative mineral resource would require the more comprehensive sampling and drilling program contemplated for Phase 2. The Company cautioned that the Phase 1 activities were limited in scope and were not intended to constitute a comprehensive metallurgical, resource, reserve, or economic evaluation of the project.
Management Commentary
"With the additional information provided by ALS Geo Resources LLC, together with the historical technical information reviewed to date, management believes sufficient support exists to advance the project into a more comprehensive Phase 2 drilling and sampling process," stated James Burgauer, President of MineralRite Corporation. "Our objective during Phase 2 will be to further evaluate the technical characteristics of the previously processed materials located at the site, with the objective of determining whether the project may ultimately support the preparation of a Regulation S-K Subpart 1300 compliant technical report."
Burgauer continued, "The contemplated Phase 2 work program is expected to include additional drilling and core sampling activities, expanded independent laboratory testing, a substantially increased number of analytical assays, additional metallurgical evaluation, engineering review, and further technical analysis intended to better quantify the nature, extent, characteristics, and potential value of the previously processed tailings materials located at the site."
"At this time, the Company has not established mineral resources or mineral reserves under SEC Regulation S-K Subpart 1300, and substantial additional technical work remains necessary before any conclusions regarding economic feasibility, metallurgical recoverability, or commercial viability can be reached," Burgauer added.
"Additional updates regarding the Phase 2 drilling and sampling program will be provided as material developments occur," Burgauer concluded.
