Critical Metals

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company "), is pleased to announce that Search will significantly bolster its expertise with the addition of Ken Baxter and W. Andrew Krusen, Jr to its Advisory Committee. We are also pleased to engage Pretium Capital Group for investor public relations and related communication services.

ADVISORY COMMITTEE APPOINTMENTS

KEN BAXTER

Ken Baxter holds a Bachelor of Science Geology and a Master of Scientific Studies, both from the University of Queensland in Australia. Mr. Baxter has over 35 years experience in design and commissioning of process plants including innovative and technically challenging plants. He has successfully managed design teams for gold and base metals, predominantly copper and he was responsible for the design of the Mt. Gordon and Sepon hydrometallurgical plants and for the Kansanshi Autoclave plant.

Mr. Baxter is a member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and is currently an independent consultant with Chaparell Pty Ltd.

W. ANDREW KRUSEN, JR

Andy Krusen holds a Bachelor of Arts degree in Geology from Princeton University. He is Chairman of Dominion Financial Group, Inc., a merchant banking organization that provides investment capital to the natural resources, communications and manufacturing and distribution sectors. He is also the managing member of Krusen- Douglas, LLC, a large landowner in the Tampa, Florida area.

Mr. Krusen serves as a director of publicly traded Alico, Inc., an agribusiness and land management company as well as several privately held companies, including, Lumina Analytics, LLC, and EcoLandCo., LLC.

He is currently a director and Chairman of Florida Capital Group, Inc.- a Florida bank holding company, as well as Florida Capital Bank, N.A., its wholly owned subsidiary.

Mr. Krusen is a former member of the Young Presidents' Organization and is currently a member of the World President's Organization and the Society of International Business Fellows. He is past Chairman of Tampa's Museum of Science and Industry.

Greg Andrews, President/CEO states: "We are pleased to welcomed Ken Baxter and Andy Krusen to our Advisory Committee. The depth of technical expertise and business acumen brought to Search Minerals by Mr. Baxter and Mr. Krusen will be invaluable with helping Search advance its "Sprint to Production" plan."

INVESTOR RELATIONS

Search is pleased to announce the engagement of Pretium Capital Group ("Pretium") by its principal, Mr. Sherman Dahl, to provide media and investor relations services to the Company. Pretium has been retained on a six-month contract basis to advise the Company with respect to its public communication materials, to manage the social media accounts of the company and provide content, to assist in market awareness efforts, assist management in developing a strategy to enhance and expand the Company's exposure, and support corporate development initiatives.

Pretium principal, Mr. Dahl, has a proven record of being able to increase investor awareness and liquidity. Mr. Dahl was previously a vice-president and investment adviser with National Bank Financial, a leading Canadian investment dealer. In addition to managing a $150-million retail book and achieving Chairman's Council level, Mr. Dahl participated in numerous capital raises totaling over $100 million directly for various issuers with total issuer financings of $1 billion on behalf of retail and institutional clients over a 20-year career.

Pretium shall receive a monthly remuneration of $5,000 per month and the contract expires August 31, 2022.

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths 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 within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT , and a resource estimate for DEEP FOX . Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX .

Search has continued to optimize our patented Direct Extraction Process technology with the support from the Department of Industry, Energy ad Technology, 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. We also recognize the continued support by the Government of Newfoundland and Labrador for its Junior Exploration Program.

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

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.


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Search Minerals Files NI 43-101 Technical Report for the Deep Fox and Foxtrot Project in South East Labrador

Search Minerals Files NI 43-101 Technical Report for the Deep Fox and Foxtrot Project in South East Labrador

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company ") is pleased to announce that the Preliminary Economic Assessment (" PEA ") NI 43-101 Technical Report on the Deep Fox and Foxtrot Project (the "Technical Report") has been filed on SEDAR. The Technical Report, which is dated July 18, 2022, has an effective date of May 31, 2022 and is entitled "Technical Report on the Deep Fox and Foxtrot Project, Newfoundland and Labrador, Canada Report for NI 43-101".

The results of the Technical Report were previously disclosed in summary form in the Company's news release dated June 7th, 2022, "Search Minerals Announces Positive Preliminary Economic Assessment For The Deep Fox And Foxtrot Rare Earth Element Project With $2.23 Billion NPV ( 8) ."

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Search Minerals Receives $1,075,481 From Exercise of Warrants

Search Minerals Receives $1,075,481 From Exercise of Warrants

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company "), is pleased to announce the exercise of 15,364,015 previously issued common share purchase warrants of the Company (the " Warrants ") at an exercise price of $0.07 per Warrant in July 2022 for aggregate gross proceeds of $1,075,481. Each Warrant was exercisable into one common share of the Company until July 12, 2022, as further disclosed in the Company's news release dated April 30, 2020, and an aggregate of 654,669 unexercised Warrants have now expired.

The Company anticipates using the proceeds from the exercise of the Warrants for general working capital purposes.

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Search Minerals Announces Positive Preliminary Economic Assessment for the Deep Fox and Foxtrot Rare Earth Element Project With $2.23 Billion NPV

Search Minerals Announces Positive Preliminary Economic Assessment for the Deep Fox and Foxtrot Rare Earth Element Project With $2.23 Billion NPV

Net Present Value NPV ( 8 ) of $2.23 B (pre-tax) and NPV ( 8 ) of $1.31 B (after-tax) Internal Rate of Return (IRR) 55.3% (pre-tax) and 41.5% (after-tax) Capital Payback Period 1.5 Years (pre-tax) and 1.8 Years (after-tax) Initial Capital Costs - $ 422M Approx. Annual production- 1437t - Magnet Rare Earths Oxides (Nd+Pr:1291t Dy:125t Tb:21t)

VANCOUVER, British Columbia, June 07, 2022 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) ("Search" or the "Company"), is pleased to announce the results of its Preliminary Economic Assessment ("PEA") for the development of its Deep Fox and Foxtrot Rare Earth Element (REE) deposits located in Labrador, Canada and the establishment of a Direct Extraction Hydrometallurgical processing facility on the Island of Newfoundland. The PEA was prepared by SLR Consulting (Canada) Inc. The technical report relating to the PEA will be filed on SEDAR within 45 days of this news release.

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Search Minerals Commencing Deep Fox 14000m Drill Program and Provides Corporate Update

Search Minerals Commencing Deep Fox 14000m Drill Program and Provides Corporate Update

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company "), is pleased to provide the following update related to our planned 2022 activities.

Greg Andrews, President/CEO comments: "Our team will be working very hard to advance these 2022 activities. Activities needed to continue our "Sprint to Production" as Search seeks to build a secure, sustainable rare earth supply chain in Newfoundland and Labrador to supply Canada and our trading partners. Our goal is to be in production by the year 2025."

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Search Minerals Acknowledges Junior Exploration Assistance From Government of Newfoundland and Labrador

Search Minerals Acknowledges Junior Exploration Assistance From Government of Newfoundland and Labrador

Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (" Search " or the " Company ") is pleased to acknowledge receipt of a grant of $90,000 from the Province of Newfoundland and Labrador towards exploration work completed in 2021 on the Company's Critical Rare Earth Element (CREE) claims located near the communities of St. Lewis and Port Hope Simpson in Southeastern Labrador.

Greg Andrews, President and CEO of Search Minerals states, "Search is very appreciative of the Junior Exploration Assistance Program (" JEA ") funds granted by the Province of Newfoundland and Labrador Department of Natural Resources. These funds allowed us to hire local personnel and continue to explore and advance the delineation of resources in Labrador's Critical Rare Earth Element District (the " District ") in 2021. The Company controls a belt 63 km long and 2 km wide and there are still 20 showings within this belt to be assessed and maintained."

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Ucore Grants Incentive Stock Options

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") advises that an aggregate of 2,325,000 options have been granted to directors, officers, employees and consultants of the Company, subject to the approval of the TSX Venture Exchange. The options are exercisable into common shares at a price of $0.85 per share and the options expire five years from August 9, 2022, the date of grant. One third of the options will vest after six months, with one third vesting every six months thereafter until fully vested.

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Rare Earth Reserves: Top 8 Countries (Updated 2022)

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The rare earths market outlook is supported by strong supply and demand fundamentals heading into a new economic era with a focus on clean energy and technological advancements.

But with supply chain worries rising in the rare earth elements space, it’s worth looking at which countries have the highest reserves. While in many cases the world’s major rare earths-mining countries hold large amounts of reserves, some countries have low rare earths production and high reserves.

Case in point — mines in Vietnam produced only 400 metric tons (MT) of rare earth elements in 2021, but the nation’s reserves are the second highest in the world, behind only powerhouse China. It’s possible that countries like this could become bigger players in the space in the future.

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Rare Earths Market Update: H1 2022 in Review

Click here to read the previous rare earths market update.

Kicking off the year on a bright note, prices for some rare earth elements (REEs) have been strong during the first half of 2022, and investors remain interested in these important commodities.

The group of critical metals has increasingly become a trade war pawn between China and the US, as the former dominates the market. Rare earths are used in everything from smartphone cameras to defense systems, and are much more prevalent in day-to-day life than many may think.

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Ucore Upscales its REE Demo Plant Capabilities and Streamlines the RapidSX Commercial Deployment Plan

  • Ucore's enhanced Demo Plant will be able to process:
    • Tens of tonnes of mixed rare earth concentrates on a per annum basis.
    • Many feedstock sources, including planned light and heavy rare earth element feedstocks for the Strategic Metals Complexes (SMC).
    • All RapidSX™ splits required to produce individual praseodymium, neodymium, terbium, and dysprosium.
  • Planned product qualification trials in Q4-2022 for prospective North American metal/alloy makers and original equipment manufacturers (OEMs).
  • Full-scale SMC techno-economic assessment and engineering data transfer.

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to provide an update on the Innovation Metals Corp.[i] ("IMC") RapidSX™ rare earth element ("REE") separation technology platform and the Company's commercial Strategic Metals Complex ("SMC") technology deployment process (the "Program"). The work is taking place at the companies' laboratory partner's (Kingston Process Metallurgy Inc. ("KPM")) facility in Kingston, Ontario, Canada.

Since the Company's December 29, 2021, technology update, the Ucore, IMC, and KPM commercialization team (the "Team") has continued to assess and develop the RapidSX™ technology platform at the Commercialization and Development Facility ("CDF"). The critical component in this process is the design and construction of the RapidSX™ REE demonstration-scale plant ("Demo Plant") that will reside within the 5000-square-foot CDF.

"IMC's solvent extraction process, RapidSX™, has different components that allow us to Westernize this standard chemical process so that 'technology risk' is eliminated while in compliance with North American environmental and worker safety standards. The cellular design is scalable and allows for rapid production capacity expansion in a safe and responsible manner," said Dr. Boyd Davis, a Principal of KPM.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/1119/130641_976b1681f419aaca_001.jpg

Figure 1 - Engineered Design of the Currently Under Construction 51-Stage RapidSX™ REE Demo Plant

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1119/130641_976b1681f419aaca_001full.jpg

Up through Q1-2022, the Team had planned, designed and ordered equipment to construct an 18-stage RapidSX™ REE Demo Plant with subsequently planned incremental expansions to meet the broader commercial objectives of the Program throughout 2022 and 2023. However, in early 2022 Ucore received very positive results from the independent RapidSX technology evaluation, including the conclusion that a RapidSX production plant can potentially have 2/3 a smaller footprint than a conventional solvent extraction ("SX") with the same throughput. The Team then met with and received the buy-in from all Program stakeholders to expand the design and construction of the Demo Plant to 51-stages (as shown in Fig. 1) for the noted benefits described below. This enhanced capability allows Ucore the opportunity to achieve its broader objectives in 2022, thus, readying the Company for commercial RapidSX technology deployment on a faster track.

"Ucore is in the unique position of having access to one of the world's most advanced and efficient solvent extraction-based REE separation technologies," stated Mike Schrider, P.E., Ucore's VP and COO. "RapidSX will be at a TRL[ii] 6/7 once the Demo Plant is commissioned this fall. The logical pathway was to expand the facility now so that we are ready to make the leap to commercialization within the Strategic Metals Complexes by early next year, along with the benefit of starting product qualification trials with our growing list of potential North American customers."

With the increase in RapidSX processing stages, the Demo Plant will be able to process:

  • Many feedstock sources, including planned light and heavy REE feedstocks for the SMCs.
  • Tens of tonnes of mixed rare earth concentrate on a per annum basis:
    • Including products for prospective metal/alloy makers and OEM qualifications.
  • All RapidSX[iii] splits required to produce individual praseodymium (Pr), neodymium (Nd), terbium (Tb), and dysprosium (Dy).

The Team is working with Ucore's upstream SMC feedstock suppliers and is planning Demo Plant product qualification trials to commence in Q4-2022 with prospective/evolving North American metal/alloy makers and original equipment manufacturers ("OEMs"). The enhanced Demo Plant will also be able to produce limited amounts of saleable Pr, Nd, Tb, and Dy oxides - a noteworthy milestone for critical materials independence in North America. Additionally, the companies are simultaneously conducting a techno-economic assessment and engineering data transfer of all CDF activities in support of Ucore's planned RapidSX deployment in the SMCs.

As such, Ucore continues its ongoing engagement with Mech-Chem Associates, Inc. to develop the specific engineering requirements for all process phases of the planned SMCs in conjunction with IMC's engineering personnel. This work will continue throughout 2022 and into 2023 and is scheduled to conclude with developing a contract design package suitable to execute a design/build construction contract for SMC No. 1 with rare earth oxide production commencing in 2024.

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About Ucore Rare Metals Inc.

Ucore is focused on rare- and critical-metals resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore has an effective 100% ownership stake in the Bokan-Dotson Ridge Rare Earth Element Project in Southeast Alaska, USA. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.

Through strategic partnerships, Ucore's vision includes disrupting the People's Republic of China's control of the US REE supply chain through the near-term development of heavy and light rare-earth processing facilities - including the Alaska Strategic Metals Complex in Southeast Alaska and the long-term development of Ucore's heavy-rare-earth-element mineral-resource property located at Bokan Mountain on Prince of Wales Island, Alaska.

Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."

For further information, please visit www.ucore.com.

About the RapidSX™ Technology

IMC developed the RapidSX separation technology with early-stage assistance from the United States Department of Defense ("US DoD"), later resulting in the production of commercial-grade, separated rare-earth oxides at the pilot scale. RapidSX combines the time-proven chemistry of conventional solvent extraction ("SX") with a new column-based platform, which significantly reduces time to completion and plant footprint, as well as potentially lowering capital and operating costs. SX is the international rare-earth-element ("REE") industry's standard commercial separation technology and is currently used by 100% of all REE producers worldwide for bulk commercial separation of both heavy and light REEs. Utilizing similar chemistry to conventional SX, RapidSX is not a "new" technology but represents a significant improvement on the well-established, well-understood, proven conventional SX separation technology preferred by REE producers.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.

In regard to the disclosure in the "About Ucore Rare Metals Inc." section above, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future Strategic Metals Complex ("SMC"). Ucore has also assumed that sufficient external funding will be found to prepare a new National Instrument 43-101 ("NI 43-101") technical report that demonstrates that the Bokan Mountain Rare Earth Elements project ("Bokan") is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMC and its construction. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMC; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMC and/or the continued development of RapidSX; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority ("AIDEA") regarding the development of Bokan and/or the SMC; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.

Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.

CONTACT

Mark MacDonald
Vice President, Investor Relations
Ucore Rare Metals Inc.
1.902.482.5214
mark@ucore.com

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Ucore Hosts 'Secure Supply Chains' Panel at PDAC 2022 - Rare Earths and other Critical Metals

  • Ucore Rare Metals Inc. will lead a diverse international panel covering:
    • the need for self-sufficient and sustainable new supply chains in the West
    • the role of Western technologies and superior environmental standards in the shift to an independent critical materials supply chain
  • Moderated by Tracy Weslosky on the InvestorIntel.com stage on June 14, 2022, at 3 p.m. at PDAC 2022

Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce that it will host a panel discussion on Tuesday, June 14, 2022, from 3-4 p.m. EDT on InvestorIntel Stage 1, Level 700 at the Metro Convention Centre in Toronto, Ontario as part of PDAC, the world's premier mineral exploration & mining convention. The topic is "Building the Rare Earths and Critical Materials' Supply Chain to Meet the EV Market Demand." Panelists with varied experiences will discuss the collective shift from high dependency to diversified, sustainable and socially responsible sourcing, circularity, and innovation. They include:

  • Byron W King, InvestorIntel.com
  • Pat Ryan. Ucore Rare Metals Inc.
  • Boyd Davis, Kingston Process Metallurgy (KPM)
  • Geoff Atkins, Vital Metals Ltd.
  • Jon Hykawy, Stormcrow Capital

The panel will be moderated by InvestorIntel Founder and CEO Tracy Weslosky and will be recorded for publication on InvestorIntel.com the following week on Monday, June 20, 2022.

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