Mr. Joseph Lanzon reports

SEARCH MINERALS CLOSES NON-BROKERED PRIVATE PLACEMENT FINANCINGS

Search Minerals Inc. has closed its previously announced non-brokered private placement financings for gross proceeds of $843,847, issuing the following:

• 1,487,694 units at a price of 50 cents per flow-through unit for gross proceeds of $743,847; each flow-through unit consisted of one flow-through common share and one-half of one transferable non-flow-through common share purchase warrant; each warrant is exercisable to acquire one non-flow-through common share of the company at an exercise price of 65 cents per share until Nov. 6, 2027; 620,002 of the flow-through units were issued on a charity flow-through basis through an arrangement with Wealth Creation Preservation & Donation Inc.;
• 303,030 common shares on a non-flow-through basis at a price of 33 cents per offered share for gross proceeds of $100,000.

The gross proceeds from the flow-through financing will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada), related to the company's Foxtrot and Deep Fox projects in Labrador. The company also intends that such expenses incurred will be eligible for the critical mineral exploration tax credit. The net proceeds from the share financing will be used by the company for working capital and general corporate purposes.

In connection with the financings, the company has: (i) paid an aggregate of $16,109.76 in cash finders' fees to Mine Equities Ltd. and Canaccord Genuity Corp., representing 6 per cent of the gross proceeds of the flow-through units that were sold to subscribers introduced by such parties; and (ii) issued an aggregate of 6,000 non-transferable common share purchase warrants to Canaccord Genuity, representing 6 per cent of the flow-through units that were sold to subscribers introduced by such party. Each finder warrant is exercisable to acquire one non-flow-through common share of the company at an exercise price of 65 cents per share until Nov. 6, 2027.

The financings are subject to final acceptance of the TSX Venture Exchange.

The flow-through shares and warrants comprising the flow-through units and the offered shares as well as the common shares issuable on exercise of the warrants and the finder warrants are subject to a hold period under applicable Canadian securities laws, which will expire on March 7, 2026.

About Search Minerals Inc.

Search Minerals is focused on exploring for and developing critical rare earths elements (CREE) as well as transition metals zirconium and hafnium within the emerging Port Hope Simpson-St. Lewis CREE district of southeastern Labrador. The company controls two deposits (Foxtrot and Deep Fox), two drill-ready prospects (Fox Meadow and Silver Fox) and numerous other CREE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64-kilometre-long belt forming a CREE district in Labrador.

Search Minerals also controls additional CREE assets in the Red Wine CREE 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 Merlot CREE prospect.

We seek Safe Harbor.