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Wednesday, 12/07/2022 10:01:12 PM

Wednesday, December 07, 2022 10:01:12 PM

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Dec 6, 2022; Search Minerals Completes Initial 2,000m Fox Meadow Phase 1 Drill Program

Vancouver, B.C. December 6, 2022 – Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) is pleased to announce that the planned 2,000 m of the FOX MEADOW Phase 1 drill program have been completed. FOX MEADOW, our third major REE mineralized zone, is located in the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador. The drill program consisted of a total of 14 drill holes and 2000 m drilled. All drill holes have intersected visual REE mineralization similar to that observed on the surface. Our geology team will have all holes logged and sampled, with all samples sent for assay, in the next 10 days.


The drilling commenced on November 11, 2022 and was completed on December 2, 2022.

One drill rig at FOX MEADOW drilled 45° holes from 100-208 m depth;
All drill holes were collared in or on the edge of mineralization;
All core is being lithologically, structurally, and geotechnically logged;
All logged intervals are being sampled for assay, tested for specific gravity and magnetic susceptibility.

Drilling Program Results:
We anticipate receiving all assay results by late spring 2023;
Visual REE mineralization has been observed in all drill holes

Drill Targets:
Extensive channel programs from 2013 to 2021 (see Search Minerals News Release May 5, 2022) have outlined numerous medium- to high-grade REE mineralized zones;
The current program targets high-grade REE zones identified at surface in order to trace them at depth;
The drill program is also designed to obtain preliminary information on the thickness of the Fox Meadow REE mineralization;
On surface the mineralization is presently open to the NW and SE along strike and to the SW, perpendicular to strike, in some sections.

Dr. Randy Miller, Vice-President, Exploration comments; “We are using the drill logging in combination with the surface channel mapping, outcrop mapping and magnetic data to develop a three-dimensional map of this extensive mineralized zone. We look forward to utilizing our information to develop an exploration program for FOX MEADOW for 2023.”

Greg Andrews, President/CEO states: “I would like to thank our team and our drilling operator, Springdale Forest Resources, for their dedication to complete the 2000m drill program before the end of the year. The drill program targeted high-grade zones in the core of the known surface extent of the mineralization. We wanted to trace the high-grade zone at depth and evaluate the overall thickness of the mineralized zone. The pending assays results should provide Search with the preliminary down hole data and the additional information to model our next steps in the development of this property.”

Andrews added:” Search Minerals will continue to seek strategic partners to advance our prospects in our extensive rare earth element land position. We believe a secure and sustainable rare earth element supply chain can be built in Newfoundland and Labrador, a very mining friendly and innovative technology-based jurisdiction.”