Search Minerals Announces Non-Brokered Private Placement Financing

Search Minerals Inc. is pleased to announce that it intends to conduct a non-brokered private placement financing for aggregate gross proceeds of up to C$1,000,000. 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 C$0.235 per Unit for gross proceeds of up to C$200,000; and (ii) a non-brokered private placement of up to 2,962,963 critical mineral flow-through units of the Company at a price of C$0.27 per FT Unit for gross proceeds of up to C$800,000, for aggregate gross proceeds of up to C$1,000,000. 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 C$0.35 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.