History

In 2007, Alterra Resources became a wholly-owned subsidiary of Search Minerals. The transaction included 100,000 hectares of claims in the Province of Newfoundland and Labrador, which included a variety of base metals, gold, molybdenum and REE prospects.

In 2010, Search entered into a binding agreement with B&A Minerals Inc. of Newfoundland and Labrador for an option to acquire an undivided 100% interest in and to certain claims in southeast Labrador, which, along with other claims subsequently staked by the Company, became the Port Hope Simpson REE District.

In 2010, Search entered into two earn-in agreements on two minerals properties in Labrador, the Red Wine Property (Great Western Minerals Group) and the Strange Lake Property (Quest Rare Minerals ), respectively.

Today

Search is focused on its Flagship Property, the Foxtrot Project, located in the Port Hope Simpson REE ("Rare Earth Element") District. In March 2013, the Company published a revised Preliminary Economic Assessment (PEA) on the Foxtrot Project, with an initial capital cost of $221M, Pre-tax NPV (10%) of $219M and pre-tax payout period of 3.8 years.

Search has identified 11 additional REE showings in the Port Hope Simpson REE District and Henley Harbour District.

Search has completed its option agreement with B&A Minerals Inc. and has acquired an undivided 100% interest in the B&A Minerals Inc. claims in the Port Hope Simpson REE District.

Quest Rare Minerals (Strange Lake Property) and Great Western Minerals Group (Red Wine Property) have earned-in on these properties and entered into joint venture agreements with Search.

Rare Metal Targets

The rare metals that Search Minerals is exploring for on all of its properties include: the REE (La - Lanthanum, Ce - Cerium, Pr - Praseodymium, Nd - Neodymium, Sm - Samarium, Eu - Europium, Gd - Gadolinium, Tb - Terbium, Dy - Dysprosium, Ho - Holmium, Er - Erbium, Tm - Thulium, Yb - Ytterbium, Lu --- Lutetium), Y - Yttrium, Zr - Zirconium and Nb - Niobium. The most critical of these metals, those in short supply now or forecast to have high demand in the near future are: Nd, Eu, Tb, Dy and Y.