Search Minerals Inc. announced that the planned 14,000m drilling of the DEEP FOX Phase 4 drill program have been completed. DEEP FOX, its second resource, is located within the Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District in SE Labrador, Canada. (April 11, 2022 - Search Minerals Announces Increased DEEP FOX and FOXTROT Mineral Resource Estimates.) The drill program consisted of a total of 76 drill holes totalling 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.

Its geology team will have all holes logged and sampled, with all samples sent for assay, in the next several weeks. The drilling commenced on June 3, 2022 and was completed on October 27, 2022. Resource Delineation and Exploration: Drilled 63 holes for a total of 10,651 m of oriented core; All core will be lithologically, structurally, and geotechnically logged; All mineralized and selected non-mineralized intervals are being sampled for assay and tested for specific gravity and magnetic susceptibility; Drilled several holes beyond the outer limits of the current mine pit design particularly towards the east; Visual mineralization observed in every drill hole.

Geotechnical Program: Drilled 13 holes for a total of 3,362 m of oriented core; A total of 11 of the 13 holes intersected mineralization and will become part of a new 2023 resource estimate; Selected holes had vibrating-wire installations (3), were surveyed with Optical Borehole Imaging (3), were surveyed with Acoustic Borehole Imaging (7) and had Packer Testing performed (6); All core has been geotechnically logged; Mineralized intervals in this core has been lithologically logged and sampled for assay similar to the Exploration program listed above; Selected samples have been collected and sent out for further geotechnical testing at a geotechnical laboratory. Next Steps of its Exploration Program: The company anticipates having all assay results and data interpretation complete to initiate the updated resource estimation by mid-2023. The company will continue its channel sampling programs at DEEP FOX and FOX MEADOW.

The DEEP FOX DEPOSIT occurs about 2 km northeast of St. Lewis, Labrador and 12 km east of the FOXTROT DEPOSIT.