Mr. Jason Macintosh reports

SEARCH MINERALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT FINANCING

Search Minerals Inc. intends to conduct a non-brokered private placement financing for aggregate gross proceeds of up to $1-million. Red Cloud Securities Inc. is acting as a finder in connection with the financing.

The financing consists of two tranches: (i) a non-brokered private placement of up to 851,064 units of the company at a price of 23.5 cents per unit for gross proceeds of up to $200,000; and (ii) a non-brokered private placement of up to 2,962,963 critical mineral flow-through units of the company (each, an FT unit) at a price of 27 cents per FT unit for gross proceeds of up to $800,000, for aggregate gross proceeds of up to $1-million.

Each unit will consist of one common share of the company and one common share purchase warrant. Each FT unit will consist of one common share of the company to be issued as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and one-half of one warrant. Each whole warrant will entitle the holder to purchase one common share of the company at an exercise price of 35 cents per warrant share for a period of 36 months following the date of issuance.

The gross proceeds from the FT 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 will be eligible for the Critical Mineral Exploration Tax Credit. The net proceeds from the unit financing will be used by the company for working capital and general corporate purposes.

A cash finder's fee and compensation warrants may be paid to Red Cloud in connection with the financing.

The financing is subject to the receipt of all necessary regulatory and other approvals, including the acceptance of the TSX Venture Exchange. There can be no assurance that the financing will be completed, whether in whole or in part. The financing may close in one or more tranches.

The unit shares, FT shares and warrant shares will be subject to a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws.

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 (CREE), zirconium (Zr) and hafnium (Hf) resources within the emerging Port Hope Simpson-St. Lewis CREE district of southeast Labrador. The company controls a belt 64 kilometres long and two km wide, and is road accessible, on tidewater and located near three local communities. Search has completed a preliminary economic assessment report with resource estimates for Foxtrot and Deep Fox. Search is also working on four exploration prospects along the belt which include: Fox Meadow, Silver Fox, Fox Run and Awesome Fox.

Search has continued to optimize its patented direct extraction process technology with the generous support from the Department of Energy and Mines, government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. Search has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

We seek Safe Harbor.