Mr. Joseph Lanzon reports

SEARCH MINERALS ANNOUNCES RESULTS OF 2022 CHANNEL PROGRAMS IN THE RED WINE CRITICAL MINERALS (DY, TB, ND, PR, NB, BE) DISTRICT

Search Minerals Inc. has released assay results (2022) for channels from its Red Wine critical mineral district (Nd, Pr, Dy, Tb, Nb and Be) properties in central Labrador. Channel assays from the Mann No. 1 (four channels: Nb, Be, Nd and Pr), Two Tom Lake (one channel: Nb, Be, Nd and Pr) and Merlot (five channels: Nd, Pr, Dy, Tb and Y) prospects show significant critical mineral values throughout the sampled mineralization. Under new leadership, Search is actively addressing and correcting previous delays in the release of results including today's update on the Red Wine critical mineral district.

Highlights of Red Wine critical mineral district exploration program:

• Channels from the Mann No. 1, Two Tom Lake and Merlot prospects confirm high grades for a wide range of critical minerals, including Nb, Be, Nd, Pr, Dy and Tb;
• Two Tom Lake assay highlights (entire channel true width -- table 1):
  • TTC-22-01: 4,766 parts per million Nb, 703 ppm Be, 2,342 ppm Nd, 671 ppm Pr and 155 ppm Dy over 13.26 metres;
• Mann No. 1 assay highlights (entire channel true width -- table 1):
  • MNC-22-01: 1,027 ppm Nb, 474 ppm Be, 1,657 ppm Nd, 466 ppm Pr and 51.7 ppm Dy over 1.33 m;
• Merlot assay highlights (all channels true width -- table 1):
  • MRC-22-03: 483 ppm Dy, 72.3 ppm Tb, 1,694 ppm Nd, 402 ppm Pr and 3,293 ppm Y over 13.21 m (includes MRC-11-05);
  • MRC-22-04: 409 ppm Dy, 60.2 ppm Tb, 1,273 ppm Nd, 305 ppm Pr and 2,842 ppm Y over 17.09 m (includes MRC-21-02);
  • MRC-22-05: 522 ppm Dy, 74.4 ppm Tb, 1,700 ppm Nd, 415 ppm Pr and 3,410 ppm Y, over 18.86 m;
• Additional channel programs are needed for all of these properties to prepare for a drilling program.

Joseph Lanzon, chief executive officer/director, stated: "These outstanding channel sampling results validate our strategy of ongoing investment and focused exploration within the early-stage, 100-per-cent-owned Red Wine critical minerals district in central Labrador. I am pleased to report high-grade mineralization across the Mann No. 1, Two Tom Lake and Merlot prospects, further reinforcing the district's potential to deliver significant long-term value."

Critical mineral mineralization in the Red Wine district consists of Nb-Be-Nd-Pr mineralization at the Mann No. 1 and Two Tom Lake prospects in the north and Dy-Tb-Y-Nd-Pr mineralization at the Merlot prospect in the south part of the district. It is related to the peralkaline rocks of the Letitia Lake group and the Red Wine intrusive suite.

The Two Tom Lake program consisted of prospecting, mapping, mineralized boulder tracing and sampling of one channel (see table 1; TTC-22-01 -- 13.26 m). Outcrop is sparse in the area, but some of the area is covered by boulder pavement and subcrop. Mapping indicates that up to three parallel bands of Nb-Be-REE mineralization occur on the property. The zone containing the bands is up to 1,400 m long, trends northwest-southeast and has been sampled by historical channels that need to be resampled. Additional new channels are needed to sample the surface mineralization throughout the zone and in the southeastern extension.

Four small channels, totalling 4.41 m, were sampled on the Mann No. 1 prospect (see table 1; MNC-22-01) along a zone of Nb-Be-REE mineralization similar to the Two Tom Lake mineralization. Prospecting in this area has outlined historically sampled mineralization and several unsampled occurrences. Additional channels are needed to outline and sample the mineralized zone.

The Merlot exploration program consisted of prospecting, mapping and channelling. The REE mineralization (Nd, Pr, Dy, Tb and Y) was sampled with five new channels totalling 44.77 m (see table 1; MRC-22-01 to MRC-22-05); some channels were add-ons to channels from previous channel programs (see Search Minerals news release dated Jan. 16, 2012).

The Red Wine critical mineral district is located in west-central Labrador, 110 to 140 kilometres northeast of Churchill Falls. The Orma Lake three-season woods road extends from the Trans-Labrador Highway (paved) to within 30 to 60 kilometres of the Red Wine properties. The district is accessible by helicopter from Churchill Falls and Goose Bay.

Quality assurance/quality control

Channel samples, eight to 10 centimetres deep and four to eight cm wide, are cut by gas-powered diamond saw from cleaned outcrops to provide samples for assay and logging reference. Each channel is cut into two vertical sections, similar to drill core, with a two- to six-centimetre-thick section (weathering removed) being sent out for assay to Activation Laboratories Ltd. A two-centimetre-thick section is stored in wooden channel boxes for reference and to provide due diligence/verification samples. The channels are cut perpendicular to strike, pieced together, logged and photographed to produce geological and geochemical sections. Density, magnetic susceptibility and radiometric readings are obtained for each assay sample. These channel samples, or horizontal drill holes, produce the same data as vertical diamond drill holes, except the data are from horizontal geological sections and the collected sample is six to eight times bigger than NQ drill core. Additional eight-centimetre-wide cuts from a channel interval make excellent preliminary metallurgical samples (one m of channel yields about 30 kilograms of sample).

The samples are shipped to Activation Laboratories Ltd. sample prep facility in Ancaster, Ont., where they are crushed to 80-per-cent minus-10 mesh and riffled to produce a representative sample. This sample is then pulverized to 95-per-cent minus-200 mesh with the pulverizing mills being cleaned between each sample with cleaning sand. A representative sample is treated by a lithium metaborate/tetraborate fusion and then analyzed by ICP and ICP/MS techniques. Mass balance is required as an additional quality control technique, and elemental totals of the oxides should be between 98 per cent and 101 per cent. For QA/QC purposes, Search requires duplicates and coarse duplicates every 25 samples, two Search reproducibility standards every 50 samples and four blind Search-inserted standards every drill hole. ActLabs analyzes duplicates and splits approximately every 15 samples and also analyzes 22 measured standards for QA/QC. To further enhance its QA/QC procedures, Search has a program of checking analytical results with other labs to confirm the ActLabs results. ActLabs is an ISO/IEC 17025 accredited laboratory.

Qualified person

Dr. Randy Miller, PhD, PGeo, is the company's vice-president, exploration, and qualified person (as defined by National Instrument 43-101), who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency and consistency in reporting technical content, including geological and assay (for example, rare earth element) data.

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing critical rare earth elements, zirconium and hafnium resources within the emerging Port Hope Simpson-St. Lewis CREE district of southeastern Labrador. The company controls a belt 63 kilometres long and two km wide, and is road accessible, on tidewater, and located within three local communities. Search has completed a preliminary economic assessment report with resource estimates for Foxtrot and Deep Fox. Search is also working on three exploration prospects along the belt which include: Fox Meadow, Silver Fox and Awesome Fox.

We seek Safe Harbor.