Mr. Leo Power reports

APPOINTMENT OF NEW CHIEF EXECUTIVE OFFICER AND DIRECTOR

Search Minerals Inc. has appointed Todd Burlingame as president, chief executive officer and as a director of the company, effective immediately.

Mr. Burlingame had previously served as the company's chief operating officer and has the requisite skillset required to successfully advance the company's rare earth elements (REE) project in southeast Labrador. Mr. Burlingame is a 30-year mining industry veteran with a successful record of advancing complex mining and natural resource projects across northern Canada. He holds a degree in geology from the University of British Columbia.

Leo Power has stepped down from his role as interim president and CEO, but will continue on as chairman of the board of directors. On behalf of the board of directors, Mr. Power is pleased to welcome the new president and CEO and stated: "Todd's depth of experience at all levels of the mining industry and his ability to forge successful partnerships with indigenous groups, including the Nunatukavut Community Council (NCC) in Labrador, and with multiple federal and provincial governments will be a significant positive for our project. Todd's proven track record of advancing serious mining and hydro projects in Newfoundland and Labrador confirms he is exactly the type of CEO required by Search Minerals to advance our rare earth elements project in Labrador. Todd's past roles include: chair and CEO of the Mackenzie Valley Environmental Impact Review Board; chair and CEO of the Mackenzie Valley Land and Water Board; project manager, Voisey's Bay nickel commercial processing plant, Vale Canada; manager and team lead, Lower Churchill project, Nalcor Energy; executive VP [vice-president], Kami Iron Ore property in western Labrador; and president, High Tide Resources. I look forward to working with Todd to ensure both a smooth transition and a successful mining project for Newfoundland and Labrador."

Mr. Burlingame stated: "I am pleased to accept the role of director, president and CEO of Search Minerals. Over the past year in the role of COO, I conducted an in-depth analysis of the properties, project and the company. I am convinced that, by building on the hard work done to date, there is a real opportunity to bring rare earth production to the province within a realistic time frame. I am impressed with the commitment of our shareholders, and patience shown by our creditors. I am fully committed to build the team and execute the plan needed to bring the project into reality for the benefit of all parties."

In connection with the appointment of Mr. Burlingame, the company announces that it has granted Mr. Burlingame two million stock options. The stock options will be exercisable for a period of three years at an exercise price of five cents and vest over a period of 24 months.

Concurrently with the appointment of Mr. Burlingame, InCoR has committed to advancing to the company $500,000 as a short-term non-interest-bearing loan. The parties are continuing discussions to finalize the proposed secured loan contemplated by the previously announced non-binding term sheet.

About Search Minerals Inc.

Search Minerals is focused on finding and developing critical rare earths elements (CREE), zirconium (Zr) and hafnium (Hf) resources within the emerging Port Hope Simpson/St. Lewis CREE district of southeast Labrador. Search 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 a REE district in Labrador. Search has completed a preliminary economic assessment report for Deepfox and Foxtrot. Search is also working on three exploration prospects along the belt which include: Fox Meadow, Silver Fox and Awesome Fox.

Search Minerals has continued to optimize the company's patented hydrometallurgy direct extraction process technology with the support from the Department of Industry, Energy and Technology of the government of Newfoundland and Labrador and from the Atlantic Canada Opportunity Agency. The company has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO (rare earth oxide) concentrate for separation and refining. The company also recognizes the continued support by the government of Newfoundland and Labrador for its junior exploration program.

Search Minerals was selected to participate in the government of Canada Accelerated Growth Service (AGS) initiative, which supports high-growth companies. AGS, as a one-stop-shop model, provides Search with co-ordinated access to government of Canada resources as Search continues to move quickly to production and contribute to the establishment of a stable and secure North American and European rare earth element supply chain.

We seek Safe Harbor.