Mr. Joseph Lanzon reports

SEARCH MINERALS FILES FISCAL 2023 AUDITED FINANCIAL STATEMENTS, MANAGEMENT'S DISCUSSION AND ANALYSIS AND PROVIDES MANAGEMENT UPDATE

Search Minerals Inc. has filed its audited financial statements and management's discussion and analysis (MD&A) for the year ended Nov. 30, 2023, on SEDAR+. Both documents are also available on the company's website.

The company also announces that Greg Andrews has resigned as interim chief financial officer (CFO) and corporate secretary effective immediately. Joseph Lanzon, interim chief executive officer (CEO) and director, will serve as interim CFO until a replacement is appointed. Diane Poole, director, has agreed to serve as the company's corporate secretary. The board of directors of the company wishes to thank Mr. Andrews for his commitment and dedication to Search Minerals over the past 14 years and the advice he has provided to the current management team during this transition year for the company. Mr. Lanzon commented: "It has been a pleasure working with Greg during this period of significant transition for Search Minerals, and on behalf of the board I wish Greg all the best in his future endeavours. Looking ahead, the company is excited to resume its exploration program in St. Lewis. Additionally, we are diligently working to complete all remaining compliance requirements to ensure the company's successful return to the public trading of its shares early in Q1 of 2025."

Since the annual general meeting of shareholders held on June 21, 2024, the company has been working closely with its legal advisers and auditor in order to meet all regulatory requirements necessary to result in the lifting of the cease trade order that is currently in effect on the company's shares. The company is required to file its interim financial statements and MD&A's for the first three quarters of fiscal 2024. The company anticipates that these quarterly filings will be completed in December.

Additionally, the company is pleased to announce that Dr. Randy Miller has opened the company 's new field office in St. Lewis, Labrador. The company also rehired former seasonal workers for the field exploration season that is nearly complete.

About Search Minerals Inc.

Search Minerals is focused on finding and developing CREE, zirconium and hafnium resources within the emerging Port Hope Simpson-St. Lewis CREE district of southeastern Labrador. Search Minerals controls two deposits (Foxtrot and Deep Fox), two drill-ready prospects (Fox Meadow and Silver Fox), and numerous other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64-kilometre-long belt forming an REE district in Labrador.

Search Minerals also controls additional CREE assets in the Red Wine district of central Labrador. These include: the drill-ready Two Tom Lake CREE-beryllium-niobium deposit, the Mann No. 1 CREE-Nb-Be prospect and the Merlot CREE prospect.

We seek Safe Harbor.