File: '\\swfile\EmailIn\20251107 123946 Attachment Search Minerals Inc. - News Release for Early Warning Report (Lorne Harder) - Fall 2025.docx'

2

LEGAL_47983856.2

LEGAL_47983856.2

LORNE HARDER

c/o 395-901 West Third Street, North Vancouver, British Columbia V7P 3P9

PRESS RELEASE

LORNE HARDER ACQUIRES OVER 10% IN SEARCH MINERALS INC.

November 7, 2025 - Lorne Harder, of c/o 395-901 West Third Street, North Vancouver, British Columbia, has filed an early warning report dated November 7, 2025, disclosing his recent acquisition of common shares (each, a "Common Share") in the capital of Search Minerals Inc. (the "Issuer") (TSX.V: SMY | OTC: SHCMF). This acquisition transaction did not take place in the market. The acquisition was made by Lorne Harder through his wholly-owned company, Harder Investments Ltd. ("Harder Investments").

On November 7, 2025, Harder Investments acquired an aggregate of 3,615,557 Common Shares from InCoR Holdings Limited ("InCoR") pursuant to the Court Order Enforcement Act (British Columbia) as partial satisfaction of a judgment (the "Seizure") obtained by the acquiror, Springhill Investments Ltd. and Harder Investments (collectively, the "Harder Parties") against InCoR and certain of its related parties (the "InCoR Parties").

The Seizure increased the acquiror's direct and indirect shareholdings in the Issuer to 4,929,004 Common Shares, increasing the acquiror's ownership percentage in the issued and outstanding Common Shares by 8.61% (calculated on a non-diluted basis) such that the acquiror's shareholding percentage of the issued and outstanding Common Shares is 11.74% (calculated on a non-diluted basis). Mr. Harder's acquisition of these securities triggered the requirement to file an early warning report (the "Early Warning Report").

Before the Seizure, the acquiror, including Common Shares held through Harder Investments, held 1,313,447 Common Shares and warrants to purchase 1,000,000 Common Shares at an exercise price of $0.50 per Common Share expiring on November 12, 2025, representing 3.13% of the issued and outstanding Common Shares on a non-diluted basis and 5.38% of the issued and outstanding Common Shares on a partially diluted basis.

After the Seizure, the acquiror, including Common Shares held through Harder Investments, holds 4,929,004 Common Shares, and warrants to purchase up to 1,000,000 Common Shares at a price of $0.50 per Common Share and expiring on November 12, 2025, representing 11.74% of the issued and outstanding Common Shares on a non-diluted basis and 13.79% of the issued and outstanding Common Shares on a partially diluted basis.

The Common Shares were acquired under the Court Order Enforcement Act (British Columbia) as partial satisfaction of a judgment obtained by the Harder Parties against the InCoR Parties. Mr. Harder reserves the right to formulate other plans or make other proposals and take such actions with respect to its investment holding as it may determine in its sole discretion.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires the Early Warning Report to be filed and to contain additional information with respect to the foregoing matters. A copy of the Early Warning Report will appear with the Issuer's documents on the SEDAR website at www.sedar.com. A copy of the Early Warning Report may also be obtained by contacting George Gale at 604-985-3327.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.