Search Minerals Announces 2021 Rare Earth Element Exploration Program in Labrador

VANCOUVER, British Columbia, April 15, 2021 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to announce its 2021 exploration program for Critical Rare Earth Elements (CREE), Zirconium (Zr) and Hafnium (Hf) in the Port Hope Simpson – St. Lewis CREE District in SE Labrador and the Red Wine District in central Labrador. The program includes three different drill programs at DEEP FOX and channel sampling programs at SILVER FOX and FOX MEADOW, and a helicopter-supported, prospecting and sampling program in the RED WINE district.

EXPECTATIONS FOR THE 2021 EXPLORATION PROGRAM

• DEEP FOX
  • Phase III exploration drill program to commence in May 2021;
  • Geotechnical drill program to commence in summer 2021;
  • Phase IV infill drill program to commence in fall 2021;

• FOX MEADOW
  • Surface channel program aims to expand the previously successful channel sampling programs to make this mineralized zone ready for a Phase I exploration drill program;

• SILVER FOX
  • sample high-grade zirconium-hafnium mineralization on surface to make Silver Fox ready for a Phase I drill program;

• RED WINE DISTRICT
  • prospecting, mapping and channel sampling program will be carried out in the summer of 2021 to expand the known occurrences of HREE mineralization in five licenses in the district.

Greg Andrews, President/CEO states; “Our immediate goal is to advance our Critical Rare Earth Element District to production. This will require (a) advancing our DEEP FOX project to a measured and indicated resource, (b) provide engineering and economic studies such as Preliminary Economic Assessments and Feasibility Studies and (c) develop and submit an Environmental Assessment report to initiate the environmental and permitting process for DEEP FOX. The recent $ 2.52M flow-through funding will support the Phase III drill program and geotechnical work at Deep Fox and the exploration work for Fox Meadow, Silver Fox and Red Wine District. Permits for Deep Fox Phase III and geotechnical work have been received and our drilling contractor confirmed. In addition, we have been permitted to retrieve a bulk sample of 1000t of surface material from DEEP FOX to be used for our proposed demonstration plant. We are looking forward to advancing our Critical Rare Earth Element District. A secure supply of rare earth elements, from Newfoundland/Labrador, can contribute to the electric mobility, and other electrification initiatives in Canada, North America and Europe.”