St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - October 10, 2025) - Search Minerals Inc. (TSXV: SMY) ("Search Minerals" or the "Company") is pleased to announce that it has amended the terms of its previously announced non-brokered private placement financings for gross proceeds of up to $993,847. Under the amended terms for the financings, the Company has increased the price for its hard-dollar private placement from $0.25 per share to $0.33 per share, such that the financings now consist of the f ...

Core Viewpoint - Search Minerals Inc. is planning to conduct non-brokered private placement financings for gross proceeds of up to $993,847 to support its exploration projects in Labrador [1][2]. Financing Details - The financings include a charity flow-through unit private placement of up to 1,487,694 units at a price of $0.50 per unit, aiming for gross proceeds of up to $743,847 [2]. - Additionally, a hard-dollar private placement of up to 1,000,000 common shares at a price of $0.25 per share is planned, targeting gross proceeds of up to $250,000 [2]. - Each flow-through unit will consist of one flow-through common share and one-half of a transferable non-flow-through common share purchase warrant, with each whole warrant exercisable at $0.65 for 24 months [2]. Use of Proceeds - Gross proceeds from the charity flow-through financing will be allocated to eligible Canadian exploration expenses related to the Foxtrot and Deep Fox projects, which qualify for the Critical Mineral Exploration Tax Credit [3]. - Net proceeds from the hard-dollar financing will be utilized for working capital and general corporate purposes [3]. Regulatory Approvals - The financings are subject to necessary regulatory approvals, including acceptance from the TSX Venture Exchange, with no assurance that they will be completed [4]. Securities Information - The securities issued will be subject to a hold period of four months and one day from the closing date, in accordance with applicable securities laws [5]. - The securities will not be registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption [6]. Company Overview - Search Minerals focuses on exploring and developing Critical Rare Earth Elements and transition metals in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador, controlling two deposits and several prospects [7]. - The company also holds additional CREE assets in the Red Wine CREE District of central Labrador, including drill-ready deposits and prospects [8].