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Search Minerals Inc. (TSXV: SMY,OTC:SHCMF) (OTCQB: SHCMF) ("Search Minerals" or the "Company") is pleased to announce that it has been awarded a grant of $91,000 from the Province of Newfoundland and Labrador through the Mineral Incentive Program - Junior Exploration Assistance (JEA) Program.
The JEA Program, a key initiative by the Department of Energy and Mines, aims to grow the mineral inventory of the province by supporting projects that advance discoveries toward National Instrument (NI) 43-101 compliant mineral resources. The $91,000 award supported the Company's 2025 exploration program at the Company's Critical Rare Earth Element (CREE) district strategically located in southeastern Labrador.
"We are very appreciative of the continued support from the Province of Newfoundland and Labrador," said Jason Macintosh, Interim CEO of Search Minerals. "These funds are vital for our grassroots and advanced exploration efforts in the Port Hope Simpson - St. Lewis CREE District in southeastern Labrador, allowing us to maintain momentum as we advance our high-priority targets like Deep Fox and Foxtrot toward future production."
The funding supported recent operational successes, including the completion of the Fox Run 2025 channel sampling program, which continues to define the high-grade potential of the 63-kilometre-long mineral belt. Search Minerals remains focused on establishing a stable, North American supply chain for rare earth elements essential for electric mobility and renewable energy technologies.
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 endeavor 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 63 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 AWESOME FOX.
Search has continued to optimize our 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. We have 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 are 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/292912
