MineralRite Corporation announced that it has renewed its mineral lease with the Arizona State Land Department for the 377‑acre Skull Valley tailings site in Yavapai County. The lease, which originally ran from May 2, 2023 to May 1, 2043 and is not automatically renewable, has been extended to keep the project in good standing and to satisfy all bonding and insurance requirements.
The company engaged Qualified Person Allan Schappert of ALS Geo Resources to review historical technical documentation and conduct field verification. Schappert inspected the site on February 2, 2026 and led a sampling program on March 30, 2026. These activities are intended to confirm the condition of the tailings and to inform the scope, equipment needs, and cost estimates for the upcoming evaluation phase, while also aligning the project with SEC Regulation S‑K 1300 disclosure requirements.
By securing the lease renewal, MineralRite removes a critical regulatory hurdle and positions itself to advance the Skull Valley project toward monetization. The renewal enables the company to pursue joint‑venture partners or project‑level financing, explore environmental credit opportunities related to legacy mining remediation, and continue tightening its capital structure through the cancellation of preferred shares to reduce dilution.
James Burgauer, President and CEO, said, "During the first quarter of 2026, RITE advanced several foundational elements of our development strategy, including the renewal of our Skull Valley lease, initial field verification work at the site, and the expansion of our advisory team with experienced professionals from the precious metals industry."
MineralRite remains a development‑stage company with no current revenue streams. The lease renewal and technical evaluation are early milestones that de‑risk the project and lay the groundwork for future exploration and potential resource estimation under S‑K 1300, setting the stage for subsequent financing and partnership opportunities.
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