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Search Minerals Inc. (TSXV: SMY,OTC:SHCMF) (OTC Pink: SHCMF) ("Search Minerals" or the "Company") is pleased to announce its 2026 Critical Rare Earth Element (CREE) exploration program in southeastern Labrador. The Company will be mobilizing crews to execute a channel sampling program across three high-priority targets in the Fox Harbour Volcanic Belt, while simultaneously collecting bulk sample material to advance the Company's planned demonstration plant.
"This is an important field season that directly supports the next phase of development at Search Minerals," said Jason Macintosh, Interim CEO. "Our 2026 program is designed to expand and upgrade our resource base at Foxtrot, advance Fox Run to drill-ready status, and extend mineralization at Awesome Fox, all while delivering the bulk sample material needed to support our demonstration plant. We are building measurable momentum toward production."
The 2026 exploration program will focus on the Foxtrot Deposit and the Fox Run and Awesome Fox prospects. In addition, the program will obtain 15 tonnes of bulk sample material from previous bulk sample pits at Foxtrot to supply additional material for a demonstration plant. This is in addition to the optimization studies and environmental baseline work being conducted concurrently across our properties.
Foxtrot Deposit:
The Foxtrot Deposit remains a central component of Search Minerals' development strategy and one of the most advanced near-surface rare earth deposits in southeastern Labrador. Located only 10 km from the deep-water port of St. Lewis and adjacent to existing highway infrastructure, Foxtrot benefits from exceptional logistics advantages relative to many North American rare earth projects.
The 2026 excavator-supported channel program will include approximately 17 channels totaling 350 metres and is designed to expand and further define near-surface mineralization along strike to the east and west. The program is also intended to support the conversion of portions of the current open pit resource from inferred and indicated classifications into the measured category, further strengthening the development profile of the project.
Foxtrot Bulk Sample:
In parallel with exploration activities, Search Minerals will collect approximately 15 tonnes of bulk sample material from previously excavated pits at Foxtrot to support the Company's planned demonstration plant program.
The bulk sample will provide additional feed material for larger-scale testing and optimization of Search Minerals' patented Direct Extraction Process, which has already been validated through two pilot plant campaigns. The demonstration plant is expected to represent a major step toward commercial-scale processing and downstream rare earth production in Labrador.
Fox Run Prospect:
Located approximately 2 km east of the Foxtrot Deposit, the Fox Run Prospect highlights the broader district-scale potential of the Fox Harbour Volcanic Belt. Mineralization occurs within the same CREE-enriched felsic peralkaline volcanic unit that hosts the Foxtrot Deposit, supporting the Company's view that multiple mineralized centers may ultimately contribute to a larger regional development scenario.
The 2026 program will consist of 7 channels totaling approximately 165m focused on infilling between previously successful channel results and advancing the prospect toward drill-ready status. A total of 5 channels in 2011 and 2014 and 7 channels in 2025 were previously cut on this prospect.
Awesome Fox Prospect:
The Awesome Fox Prospect represents another strategically located target within Search Minerals' growing portfolio of southeastern Labrador CREE prospects. Positioned adjacent to the Trans Labrador Highway near Port Hope Simpson, Awesome Fox benefits from direct road access and proximity to regional infrastructure. Previous channel programs have confirmed broad zones of rare earth mineralization over significant strike lengths.
The 2026 program will consist of 8 channels totaling approximately 200 metres designed to both infill existing mineralized areas and extend the known zone eastward, further demonstrating the exploration upside across the Company's district-scale land package. A total of 12 channels cut in 2013, 2014 and 2020
Qualified Person:
Dr. Randy Miller, Ph.D., P.Geo., is the Company's Vice President, Exploration, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The Company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals
Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earth Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson - St. Lewis CREE District of South-east Labrador. The Company controls a belt 64 km long and 2 km wide and is road accessible, on tidewater, and located near 3 local communities. Search has completed a preliminary economic assessment report with resource estimates for FOXTROT and DEEP FOX. Search is also working on four exploration prospects along the belt which include: FOX MEADOW, SILVER FOX, FOX RUN and AWESOMEFOX.
Search has continued to optimize its patented Direct Extraction Process technology with the generous support from the Department of Energy and Mines, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. Search has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
All material information on the Company may be found on its website at www.searchminerals.ca and on SEDAR+ at www.sedarplus.ca.
For further information about Search Minerals, please contact:
Jason Macintosh
Interim CEO
Telephone: 416-320-9296
Email: jason.macintosh@searchminerals.ca
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release is based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Search Minerals to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Search Minerals' public filings. Although Search Minerals has attempted to identify important factors that could affect Search Minerals and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the Company's Management's Discussion and Analysis filed with certain Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, Search Minerals does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298964
