Search Minerals talks Fox Run channel sampling results

Mr. Jason Macintosh reports SEARCH MINERALS ANNOUNCES RESULTS OF THE FOX RUN 2025 CRITICAL RARE EARTH ELEMENT CHANNEL PROGRAM IN SOUTHEASTERN LABRADOR Search Minerals Inc. has released the results of the 2025 channel sampling program at the Fox Run and three additional critical rare earth element (CREE) prospects in southeastern Labrador. The program consisted of sampling both outcrop and excavator-trenched channels in exposed bedrock at the Fox Run, Foxy Lady, Krazy Fox and Silver Fox prospects near St. Lewis, Labrador. Channel assay grades and widths from new channels at Fox Run are comparable with those reported for the Foxtrot open-pit indicated mineral resource. Importantly, the Fox Run and Foxy Lady prospects occur along the same mineralized belt between the company's Foxtrot and Deep Fox deposits, two of the most advanced rare earth deposits in the emerging Port Hope Simpson-St. Lewis CREE district. The Krazy Fox and Silver Fox prospects occur up to two kilometres west of the Foxtrot deposit along the same regional trend. The proximity of these prospects to the Foxtrot and Deep Fox resources highlights the potential for additional mineralized zones to be defined within a short distance of the company's existing deposits and potential future mining infrastructure. Highlights of 2025 exploration program: Fox Run prospect: Three channel samples ranging from 6.18 metres to 18.18 metres in width returned CREE values comparable with those reported for the Foxtrot open-pit indicated mineral resource (Table 1). Channel sample assay highlights include: FRC-25-01 (channel): 164 parts per million Dy (dysprosium), 1,200 ppm Nd (neodymium), 321 ppm Pr (praseodymium) and 28.0 ppm Tb (terbium) over 18.18 m; FRC-25-03 (channel): 200 ppm Dy, 1,476 ppm Nd, 402 ppm Pr and 33.7 ppm Tb over 7.08 m; FLC-25-05 (channel): 194 ppm Dy, 1,307 ppm Nd, 344 ppm Pr and 33.4 ppm Tb over 4.24 m. Fox Run remains open along strike, and additional excavator-supported channel sampling is planned to further delineate the mineralized zone and advance the prospect toward drill-ready status. Foxy Lady prospect: Channel sampling confirms the presence of two mineralized bands about four m wide, with assay results comparable with those reported for the Foxtrot open-pit indicated mineral resource. The Krazy Fox and Silver Fox prospects occur within a continuous mineralized zone that contains Zr-Hf-LREE-enriched (zirconium/hafnium/light rare earth element) mineralization relative to the Foxtrot deposits. Jason Macintosh, interim chief executive officer, commented: "Search Minerals is evaluating these very prospective mineralized zones to explore for additional resources for a Foxtrot-Deep Fox CREE mining operation. The discovery of additional deposits within 10 km of the Foxtrot and Deep Fox resources would provide material to extend the life of the mining operation in the St. Lewis area." Fox Run prospect: It is located approximately 2.5 km east of the Foxtrot deposit and occurs in the same CREE-enriched felsic peralkaline unit as this deposit. The 2025 program consisted of seven hand-dug channels measuring a total of 128 m. Three Fox Run channels (see Table 1), containing intervals of 6.18 m to 18.18 m of REE mineralization, have similar values to the Foxtrot open-pit indicated mineral resource (Table 1; see Search Minerals' news release dated April 11, 2022). Channel FRC-25-01 is located approximately 640 m west of channels FRC-25-02 and FRC-25-03 and 1,800 m east of the Foxtrot deposit. The Fox Run prospect occurs along strike from the Foxtrot deposit and is contained within the same CREE-enriched felsic peralkaline stratigraphic unit. Geological mapping and a continuous magnetic anomaly suggest the potential for mineralization between the three Fox Run channels reported herein. Due to limited outcrop exposure in the area, an excavator-supported channel program is planned to establish a link and evaluate the continuity of mineralization between the existing Fox Run channels. This work is intended to advance the Fox Run prospect toward drill-ready status. Table 1 -- comparison of the Foxtrot indicated open-pit resource to selected assay results from the 2025 channel programs at Fox Run, Foxy Lady and Silver Fox prospects Foxy Lady prospect: The Foxy Lady prospect is located approximately 3.7 km west of and along strike from the Deep Fox deposit and contains CREE-enriched felsic peralkaline volcanic rocks comparable with those that host the Deep Fox mineralization. A total of eight channel samples, totalling 61 m, were completed during the 2025 program. Channel sampling confirmed the presence of two east-west-trending mineralized units approximately 40 m apart, averaging approximately four m in width and extending for about 370 m along strike. Additional excavator-supported trenching is planned to extend the existing channels and expose bedrock in nearby covered areas to further evaluate the continuity and extent of mineralization. Krazy Fox prospect: The Krazy Fox prospect is located less than one km west of the Foxtrot deposit, along the same mineralized trend. Mineralization at Krazy Fox occurs within the same CREE-enriched peralkaline system that hosts the Foxtrot deposit, but at a slightly different stratigraphic level. Assay results indicate higher values of Zr, Hf and LREE and lower HREE (heavy rare earth element) values (see Table 1) when compared with the Foxtrot mineralization. The Krazy Fox mineralization is comparable with that observed at the nearby Silver Fox prospect and may represent an eastward extension of the Silver Fox mineralized zone. The 2025 program at Krazy Fox consisted of excavator trenching to extend four hand-dug channels completed in 2024, totalling 85.25 m of channel sampling. Silver Fox prospect: The Silver Fox prospect now extends for more than 1.6 km along strike and is interpreted to link up with the Krazy Fox prospect, suggesting the presence of a continuous mineralized trend. Exploration work at the Silver Fox prospect in 2025 consisted of nine channel samples and channel extensions totalling 83.8 m. Trenching, to expose bedrock, was also carried out by excavator. Assay results indicate similar Zr, Hf and LREE values to those reported at Krazy Fox (see Table 1), representing Zr-Hf-LREE-enriched and relatively HREE-depleted mineralization compared with the Foxtrot deposit. Conclusion: The results from the 2025 Fox Run channel sampling program indicate that CREE mineralization at the Fox Run prospect, with channel widths ranging from six m to 18 m, is comparable in thickness with the mineralized zone which hosts the Foxtrot deposit, where the open-pit indicated mineral resource averages approximately 15 m in thickness. The Fox Run prospect occurs along strike from the Foxtrot deposit and within the same CREE-enriched peralkaline volcanic unit. An expanded excavator-supported channel sampling program is planned to expose bedrock in areas of deeper overburden and to further evaluate the continuity of mineralization in preparation for a potential exploration drill program. Quality assurance/quality control (QA/QC) Channel samples, 10 centimetres deep and eight cm wide, are cut by gas-powered, diamond-bladed saw from cleaned outcrops to provide samples for assay and logging/reference. Each channel is cut into two vertical sections, similar to drill core, with a six-centimetre-thick section (weathering removed) being sent for assay to Activation Laboratories Ltd. (ActLabs). A two-centimetre-thick section is stored in channel boxes for reference and to provide due diligence/verification samples. The channels are cut perpendicular to strike, pieced together, logged and photographed to produce geological and geochemical sections. These channel samples, or horizontal drill holes, produce the same data as vertical diamond drill holes, except the data are from horizontal geological sections and the collected sample is six to eight times bigger than NQ drill core. Additional eight-centimetre-wide cuts from a channel interval make excellent preliminary metallurgical samples (one m of channel yields approximately 30 kilograms of sample). Litho-geochemistry samples (drill core or channel), all from bedrock, are collected by company personnel, bagged and described. Reference samples are also collected for each grab, litho-geochemistry and channel sample. The samples are shipped to ActLabs' sample prep facility in Ancaster, Ont., where they are crushed to 80 per cent minus 10 mesh and riffled to produce a representative sample. This sample is then pulverized to 95 per cent minus 200 mesh, with the pulverizing mills being cleaned between each sample with cleaning sand. A representative sample is treated by a lithium metaborate/tetraborate fusion and then analyzed by ICP and ICP/MS techniques. Mass balance is required as an additional quality control technique and elemental totals of the oxides should be between 98 per cent and 101 per cent. For QA/QC purposes, Search requires one pulp duplicate and Search reproducibility standard inserted at the 15th sample and each 20 samples after and a coarse reject duplicate every 20 samples. In addition, pulp standards are inserted at random by Search Minerals personnel. ActLabs analyzes duplicates and splits approximately every 15 samples and also analyzes 29 measured standards for QA/QC. To further enhance the company's QA/QC procedures, Search has a program of checking analytical results with other labs to confirm the ActLabs results. ActLabs is an ISO/IEC 17025-accredited laboratory. Qualified person Dr. Randy Miller, PhD, PGeo, is the company's vice-president, exploration, and qualified person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The company will endeavour to meet high standards of integrity, transparency and consistency in reporting technical content, including geological and assay (for example, REE) data. About Search Minerals Inc. Led by a proven management team and board of directors, Search is focused on finding and developing critical rare earth elements (CREE), zirconium (Zr) and hafnium (Hf) resources within the emerging Port Hope Simpson-St. Lewis CREE district of southeastern Labrador. The company controls a belt 63 km long and two km wide and is road accessible, on tidewater and located near three local communities. Search has completed a preliminary economic assessment report with resource estimates for Foxtrot and Deep Fox. Search is also working on three exploration prospects along the belt, which include Fox Meadow, Silver Fox and Awesome Fox. Search has continued to optimize its patented direct extraction process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. The company has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO (rare earth oxide) concentrate for separation and refining. We seek Safe Harbor.