On April 12, 2010 SEARCH announced that it had entered an option agreement with Great Western Minerals Group (“GWG”). Under the terms of the Letter Agreement, to earn the Option, GWG will pay an aggregate of $225,000, with $50,000 payable on the date of the execution of the Letter Agreement, $75,000 payable on or before April 30, 2011 and $100,000 payable on or before April 30, 2012. In addition, GWG will issue an aggregate of 1,050,000 common shares of GWG, with 200,000 common shares issuable on the execution of the Letter Agreement, 350,000 common shares issuable on or before April 30, 2011 and 500,000 common shares issuable on or before April 30, 2012.

GWG will also fund an exploration program (the “Work Program”) of an aggregate of $1,500,000 over a three year period (the “Option Period”), commencing on or before the date of the Letter Agreement, of which a minimum of $750,000 must be completed within the first year following the date of the Letter Agreement, a further $250,000 must be completed within the second year following the date of the Letter Agreement and any balance must be completed within the third year following the date of the Letter Agreement.

During the Option Period, Alterra will be the operator and GWG will pay Alterra a 10% management fee, payable in cash.

Upon the completion of the annual payments, the share issuances and the Work Program, GWG and Alterra will form a joint venture or incorporate a new company for the development and exploitation of the Red Wine Property.

On commencement of commercial production, GWG will have a three year renewable right (the “Marketing Arrangement”) to market Alterra’s share of production of rare earth elements (“REE”), niobium and tantalum from the Red Wine Property. Alterra will retain the option to renew the Marketing Arrangement for each subsequent three year period during the term of the Marketing Arrangement.