Search Minerals Inc. reported 2021 channel assay results from FOX MEADOW, a major mineralized zone in the Port Hope Simpson – St. Lewis Critical Rare Earth Element (CREE) District. Mapping, prospecting, trenching, channeling, and geophysical surveys confirm the current known extent of two mineralized zones at FOX MEADOW: the NW zone is up to 175m wide, and the SE zone is up to 154mwide.

Combined, known mineralization is at least 790m long, and is open to the NW and SE. FOX MEADOW is currently drill program ready; Search plans to commence a 6,000 m drill program this fall. The 2021 trenching and channeling program at FOX MEADOW extended three previous channel sections southwards and completed three new sections through the mineralized zones.

All channel work required excavation of trenches in treed areas, with significant overburden cover, to expose bedrock. The ten longest sections, from all channel programs, sample a mineralized zone that is between 123m and 175m wide and 425m long in the westerly part of the zone (NW zone) and between 122m and 154m wide and 365m long in the easterly part (SE zone). The successful 2021 trenching and channeling program indicates that an extensive 2022 program is required to determine the surficial extent of the two mineralized zones that are open to the NW and SE; a Phase 1 drill program to explore for mineralization at depth is also planned for fall 2022.

Assays from the 2021 channeling program return similar results to channels from 2020 and earlier programs. Two channel sections, FMC-21-05/FMC-18-03 and FMC-18-01/FMC-21-06, form connected sections that sample the NW zone. Three new channels (FMC-21-02, FMC-21-03 and FMC-21-04) and one channel extension (FMC-20-03/FMC-20-01) produce four sections through the SE zone. Channel FMC-21-02B contains 47.56m of high-grade mineralization (aggregate of over 3m wide >190 ppm Dy intervals) and 13.77m of medium-grade mineralization (aggregate of over 3m wide and 150-190 ppm Dy intervals) over 112.34m of channel; lower grade mineralization and mafic units forming the remainder in all channels.

FMC-21-03 contains 12.63m of high-grade mineralization (>190 ppm Dy) and 15.14m of medium-grade mineralization (150-190 ppm Dy) over 139.88m of channel. Section FMC-21-04 contains 20.65m of high-grade mineralization (>190 ppm Dy) and 24.37m of medium-grade mineralization (150-190 ppm Dy) over 154.51m of channel. 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.