Search Minerals Director Ray Saunders Passes Away Suddenly
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 MINERALS DIRECTOR RAY SAUNDERS PASSES AWAY SUDDENLY
Vancouver, B.C. May 31, 2017 – Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”)
It is with great sadness that Search Minerals announces the May 26, 2017 passing of Mr. Raymond James (Ray)
Saunders a long-time supporter and independent director of the Company.
“Ray Saunders was an incredible person who brought tremendous integrity and energy to our Board and the
Company’s endeavors. His practical insights and unwavering belief in our rare earth element prospects in
southeastern Labrador not only inspired the board and management at Search but also many of our
shareholders. While he has left us all a great legacy to carry on with, his hard work and friendship will be sorely
missed. On behalf of everyone at Search I want to express our deepest condolences to his wife Barbara Ann
and Ray’s family,” stated Jim Clucas, Executive Chairman of Search.
Ray Saunders was a true entrepreneur, seeing ahead of the curve in building one of the largest independent
trucking and warehousing businesses in Newfoundland and Labrador. His interest in the junior mining sector
came later in his career but with the same signature foresight and commitment. First investing in Alterra
Resources, Ray was instrumental in the 2009 deal that saw this successful Labrador explorer become a wholly
owned subsidiary of Search Minerals, an entity that Ray would continue to believe in and invest in becoming
one of Company’s largest shareholders.
“Anyone who knew Ray knows just how passionate he was about Search Minerals. As a Board of Directors, we
remain committed to ensuring that our shared vision to see the Foxtrot Rar e Earth Element Deposit in SE
Labrador becomes a reality,” Clucas added.
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 Prelimi nary 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
Neither the TSX Venture Exchange nor its Regulation Services 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
Tel: 604 998-3432 Ext 2
E-mail: [email protected]
Paul Snow
Investor Relations
Tel: 709 753-0794
E-mail: [email protected]
Cautionary Statement 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 events or the Company ’s future performance, business
prospects or opportunities. Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results 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 state ments 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 judicia l,
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.