Search Minerals Inc. announced that the planned 2,000 m of the FOX MEADOW Phase 1 drill program have been completed. FOX MEADOW, its third major REE mineralized zone, is located in the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador.

The drill program consisted of a total of 14 drill holes and 2000 m drilled. All drill holes have intersected visual REE mineralization similar to that observed on the surface. its geology team will have all holes logged and sampled, with all samples sent for assay, in the next 10 days.

FOX MEADOW DRILL PROGRAM: The drilling commenced on November 11, 2022 and was completed on December 2, 2022. Exploration: One drill rig at FOX MEADOWdrilled 45° holes from 100-208 m depth; All drill holes were collared in or on the edge of mineralization; All core is being lithologically, structurally, and geotechnically logged; All logged intervals are being sampled for assay, tested for specific gravity and magnetic susceptibility. Drilling Program Results: The company anticipates receiving all assay results by late spring 2023; Visual REE mineralization has been observed in all drill holes.

Drill Targets: Extensive channel programs from 2013 to 2021 (see Search Minerals News Release May 5, 2022) have outlined numerous medium- to high-grade REE mineralized zones; The current program targets high-grade REE zones identified at surface in order to trace them at depth; The drill program is also designed to obtain preliminary information on the thickness of the Fox Meadow REE mineralization; On surface the mineralization is presently open to the NW and SE along strike and to the SW, perpendicular to strike, in some sections. The FOX MEADOW project occurs approximately 11 km west of Port Hope Simpson and 1 km from a gravel-covered, three-season forest access road. Port Hope Simpson is approximately 40 km northwest of FOXTROT and 50 km from DEEP FOX on paved and all-season gravelled roads.