Drilling Of The Deep Fox Phase 4 Program Completed

VANCOUVER - Search Minerals Inc. reported that the planned 14,000m drilling of the Deep Fox Phase 4 drill program has been completed. Deep Fox is the second resource located within the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador, Canada. The drill program consisted of a total of 76 drill holes totaling 14,013 m of which 63 drill holes were for additional resource delineation and exploration and 13 drill holes were for the geotechnical and hydrogeological program. The geology team will have all holes logged and sampled, with all samples sent for assay.

Randy Miller, Vice-President, Exploration, said, “We have observed mineralization in all delineation and exploration drill holes and await assay results to determine the grades. Infill drilling has decreased the spacings between drill holes in the proposed open pit to improve our confidence in grades and tonnages for a upcoming 2023 mineral resource estimate. Based on visual results from this new drill data we expect the open pit to be larger and the resource to potentially increase in size.”

Greg Andrews, President/CEO, commented, “We continue with our “Sprint to Production”, and this drill program should enable Search to provide an updated mineral resource estimate in 2023. Search Minerals is well positioned to build a secure, sustainable rare earth supply chain in Newfoundland and Labrador to supply Canada and our trading partners. Our goal is to be in production by the year 2026.”