MineralRite Corporation’s wholly‑owned subsidiary, Peeples, Inc., executed a Common Variety Mineral Materials Lease on January 26, 2026, covering 377.11 acres of state trust land in Yavapai County, Arizona. The lease runs from May 2, 2023 to May 1, 2043 and is not renewable, requiring a new lease or discretionary approval from the Arizona State Land Commissioner for any extension.
The lease provides MineralRite with the legal foundation to move forward with its tailings reprocessing program, which the company estimates could unlock value from a $432 million tailings asset base. By securing the land rights, MineralRite can now conduct Phase 1 fieldwork—where a Qualified Person will gather observations and technical data—to define the scope, schedule, and cost estimate for Phase 2, the production of a full S‑K 1300 technical report required for regulatory disclosure and future financing.
Phase 2 will deliver the S‑K 1300 report, a key document that allows MineralRite to estimate mineral resources and reserves and to attract joint‑venture partners or non‑dilutive financing. The report will also satisfy SEC requirements for reporting on mineral projects, positioning the company to move from a development‑stage entity toward a revenue‑generating operation.
Peeples, Inc. has a history of navigating Arizona’s land‑use regulations. In 2002, a court case involving Peeples and the Arizona State Land Department clarified that reprocessing tailings can fall under a Common Variety Mineral Materials Lease, a precedent that MineralRite can rely on to mitigate regulatory risk and expedite approvals.
CEO James Burgauer emphasized that the lease “marks an important milestone in the process” and enables the company to “move forward with its development plans.” He noted that the next steps—field data collection, technical reporting, and potential financing—are critical to transforming the tailings asset into a viable production asset. The company acknowledges that while the lease secures land rights, it must still complete technical studies, secure environmental approvals, and manage the significant capital outlay required for reprocessing infrastructure.
The lease also positions MineralRite to pursue joint‑venture partnerships and secure non‑dilutive financing once the S‑K 1300 report is completed. However, the company faces headwinds such as the need for substantial upfront investment, regulatory compliance hurdles, and the uncertainty of market demand for the recovered minerals. Nonetheless, the lease removes a major legal barrier, giving MineralRite a clearer path to operational execution and potential value creation from its tailings reserves.
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