Search Minerals Closes Fully Subscribed Upsized $1.1 Million Financing

Search Minerals Inc. (TSXV: SMY) (OTC Pink: SHCMF) ("Search Minerals" or the "Company") is pleased to announce that it has closed the third and final tranche (the "Final Tranche") of its previously announced upsized non-brokered private placement financing (the "Financing"), for gross proceeds of C$284,999.85. With the closing of the Final Tranche, the Financing is fully subscribed at its upsized amount of C$1,100,000, for aggregate gross proceeds of C$1,100,015.78.

Jason Macintosh, Interim CEO of Search Minerals, commented: "We are very pleased to have closed our financing fully subscribed at its upsized amount, and we thank our new and existing shareholders for their support. These funds position the Company to advance its Foxtrot and Deep Fox projects as we work to supply the emerging North American rare earth supply chain."

The Final Tranche consists of 1,055,555 critical mineral flow-through units of the Company (each, a "FT Unit") at a price of C$0.27 per FT Unit, for gross proceeds of C$284,999.85 (the "FT Financing"). As previously announced, the Company's unit financing (the "Unit Financing") was fully subscribed at its increased maximum of C$300,000 on completion of the Second Tranche, and no units were issued under the Final Tranche.

Each FT Unit consists 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) (each, a "FT Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (each, a "Warrant Share") 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 Company will renounce such Canadian exploration expenses to subscribers with an effective date no later than December 31, 2026.

The net proceeds from the Unit Financing will be used by the Company for working capital and general corporate purposes.

In connection with the Initial Tranche and the Second Tranche and the Final Tranche, the Company has: (i) paid an aggregate of C$49,000.00 in cash finder's fees to Red Cloud, Canaccord Genuity Corp. ("Canaccord") and Oak Hill Asset Management Inc. ("Oak Hill"); and (ii) issued an aggregate of 181,110 non-transferable common share purchase warrants (the "Finder's Warrants") to Red Cloud, Canaccord and Oak Hill, collectively.

Completion of the Financing Together with the Initial Tranche and the Second Tranche, the Company has raised aggregate gross proceeds of C$1,100,015.78 under the Financing, comprised of C$300,016.04 under the Unit Financing and C$799,999.74 under the FT Financing. The Financing remains subject to the final acceptance of the TSX Venture Exchange.