Ms. Jocelyn Bennett reports

RESIGNATION OF CHAIRMAN AND DIRECTOR

Leo Power has resigned as chairman and director of Search Minerals Inc., effective June 27, 2023. The board is conducting a process to identify a new independent director and will update the market in due course.

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 Minerals 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 an REE district in Labrador. Search Minerals has completed a preliminary economic assessment report for Deepfox and Foxtrot. Search Minerals 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 its patented hydrometallurgy direct extraction process technology with the support from the Department of Industry, Energy and Technology, government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. It has completed two pilot plant operations, and produced highly purified mixed rare earth carbonate concentrate and mixed rare earth oxide concentrate for separation and refining. It 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 Minerals with co-ordinated access to government of Canada resources as Search Minerals continues to move quickly to production and contribute to the establishment of a stable and secure rare earth element North American and European supply chain.

We seek Safe Harbor.