Appointment of new Chief Executive Officer and Director

VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) -- Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”), announces that Todd Burlingame has been appointed as President and CEO and as a Director of the Company effective immediately.

Mr. Burlingame had previously served as the Company’s Chief Operating Officer and has the requisite skill set required to successfully advance the Company’s Rare Earth Elements (REE) project in southeast Labrador. Mr. Burlingame is a 30-year mining industry veteran with a successful track record of advancing complex mining and natural resource projects across northern Canada. He holds a degree in geology from the University of British Columbia.

Leo Power has stepped down from his role as Interim President and CEO, but will continue on as Chairman of the Board of Directors. On behalf of the Board of Directors, Leo Power is pleased to welcome the new President and CEO and stated, “Todd’s depth of experience at all levels of the mining industry and his ability to forge successful partnerships with Indigenous groups including the Nunatukavut Community Council (NCC) in Labrador and with multiple federal and provincial governments will be a significant positive for our project. Todd’s proven track record of advancing serious mining and hydro projects in Newfoundland and Labrador confirms he is exactly the type of CEO required by Search Minerals to advance our Rare Earth Elements project in Labrador. Todd’s past roles include Chair and CEO of the Mackenzie Valley Environmental Impact Review Board, Chair and CEO of the Mackenzie Valley Land and Water Board, Project Manager, Voisey’s Bay Nickel Commercial Processing Plant, Vale Canada; Manager and Team Lead, Lower Churchill Project, Nalcor Energy; Executive VP, Kami Iron Ore property in western Labrador, and President, High Tide Resources. I look forward to working with Todd to ensure both a smooth transition and a successful mining project for Newfoundland and Labrador.”

Todd Burlingame stated, “I am pleased to accept the role of Director, President, and CEO of Search Minerals. Over the past year in the role of COO I conducted an in-depth analysis of the properties, project and the Company. I am convinced that, by building on the hard work done to date, there is a real opportunity to bring Rare Earth production to the province within a realistic time frame. I am impressed with the commitment of our shareholders, and patience shown by our creditors. I am fully committed to build the team and execute the plan needed to bring the project into reality for the benefit of all parties.”