Search Acknowledges JEA Grant from Government of Newfoundland and Labrador and Provides 2017 Exploration Update
SEARCH MINERALS INC.
# 211, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
NEWS RELEASE
Search Acknowledges JEA Grant from Government of Newfoundland and Labrador
and Provides 2017 Exploration Update
Vancouver, B.C. May 9, 2017 – Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is
pleased to acknowledge receipt of a grant of $47,245.78 from the Province of Newfoundland and
Labrador towards exploration work completed in 2016 on the Company’s Critical Rare Earth
Element claims located near the communities of Port Hope Simpson and St. Lewis in Southeastern
Labrador.
“Search is very appreciative of the non‐repayable Junior Exploration Assistance Program offered
by the Province of Newfoundland and Labrador which enabled us to hire local personnel and
continue to explore and advance the Port Hope Simpson Critical Rare Earth Element District (“the
“District”) in 2016. The Company controls a belt 70 km long and 8 km wide and there are still 20
showings within this belt to be further assessed. During the 2016 field season, our geologists we
able to define ‘Fox Meadow’ as the third significant discovery in the District, (Search Minerals news
release dated August 30, 2016 ‐ Search Minerals completes 2016 exploration program and Search
Minerals news release dated November 3, 2016 ‐ Search Minerals Announces Fox Meadow Channel
Assays) The JEA Program and the support of the Department of Natural Resources has played an
important role for Search and has enabled us to continue to explore our District in Newfoundland
and Labrador and we truly appreciate that support,” stated Greg Andrews, President and CEO of
Search Minerals.
Search Minerals is planning to continue its systematic assessment of the District with a view to drill
the Deep Fox prospect (formerly Deepwater Fox) during the 2017 field season. The Company has
submitted a letter of intent to the JEA Program for 2017 regarding the Deep Fox Drilling Program.
The proposed drill program could allow Search to receive the maximum allowable assistance
amount of $225,000 under the program.
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing
resources within the emerging Port Hope Simpson Critical Rare Earth Element (CREE) District of SE Labrador .
The Company controls a belt 70 km long and 8 km wide including its 100% interest in the FOXTROT Project
which is road accessible and at tidewater . Exploration efforts have advanced “Deepwater Fox” and “Fox
Meadow” as significant new CREE prospects very similar and in close proximity to the original FOXTROT
discovery. While the Company has identified more than 20 other prospects in the District, its primary
objective remains development of FOXTROT by confirming proprietary processing technology at the pilot
plant level (in progress) and delineation of prospects that will ensure competitive‐low cost production
beyond the 14‐year mine life contemplated in the Preliminary Economic Assessment of FOXTROT completed
in April 2016. The FOXTROT Project has a low capital cost to bring the initial project into production ($152
M), a short payback period and is scalable due to Search’s proprietary processing technology.
SEARCH MINERALS INC.
# 211, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
All material information on the Company may be found on its website at
www.searchminerals.ca and on SEDAR at www.sedar .com
About neo‐CREOs ( Adamas Intelligence – December 2016)
We consider neodymium, praseodymium, and dysprosium to be neo‐CREOs because there is a high
probability they will be in short supply by 2025, and they are vital to NdFeB magnets used widely in
renewable power generation, electric mobility, and energy‐efficient technologies. We consider terbium to
be a neo‐CREO because upon experiencing shortages of dysprosium, consumers in the magnet industry will
rapidly consume available terbium supplies in its place for applications involving renewable power
generation, electric mobility and energy efficient technologies. Lanthanum is considered a neo‐CREO
because there is a high probability it will be in short supply by 2025 and because it is widely used in catalytic
converters and rechargeable batteries, and will be increasingly used as a thermal stabilizer by producers of
poly‐vinyl chloride (PVC) to minimize lead consumption and improve the energy efficiency of PVC and
other processing equipment.
Neither the TSX Venture Exchange nor its Regulation Se rvices Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Greg Andrews
President and CEO
Te l: 604 998‐3432 Ext 2
E‐mail: [email protected]
Paul Snow
Investor Relations
Te l: 709 753‐0794
E‐mail: [email protected]
CAUTIONARY STATEMENTS
Regarding “Forward‐Looking” Information.
This news release includes certain “forward ‐looking information” and “forward‐looking statements” (collectively
"forward‐looking statements”) within the meaning of applicable Canadian and United States securities
legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, included herein, without limitation, statements relating the future operating
or financial performance of the Company, are forward‐looking statements.
Forward‐looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”,
“believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events,
conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward‐looking statements in this
news release relate to, among other things future even ts or the Company’s future performance, business
prospects or opportunities. Actual future results may differ materially. There can be no assurance that such
SEARCH MINERALS INC.
# 211, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
statements will prove to be accurate, and actual result s and future events could differ materially from those
anticipated in such statements. Forward ‐looking statements reflect the beliefs, opinions and projections on the
date the statements are made and are based upon a number of assumptions and estimates that, while
considered reasonable by the respective parties, are inherently subject to significant business, economic,
competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward ‐looking statements and the parties have
made assumptions and estimates based on or related to many of these factors. Such factors include, without
limitation, general business, economic and social uncertainties; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; and those additional risks set out in Search’s public
documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used
in preparing the forward ‐looking statements are reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release and no assurance can be given that such events
will occur in the disclosed time frames or at all. Except where required by law, Search disclaims any intention or
obligation to update or revise any forward ‐looking statement, whether as a result of new information, future
events, or otherwise.