Search Minerals Announces Purchase of Property in St. Lewis, Labrador
December 17 2020 - 4:03PM
Search Minerals Inc. (TSXV:
SMY) (“
Search” or the
“
Company”), is pleased to announce that the
Company has purchased property in St. Lewis, Labrador, for a
purchase price of $ 210,000. The property is approximately 9180
square meters, which contains our 848 square meter building which
is used for our accommodations, kitchen, office, material handling,
core sorting and core shack. Search has been leasing this property
since 2016 and we would like to thank the estate of Raymond
Saunders for completing this transaction with Search Minerals.
Search will make this our Newfoundland and Labrador office, as we
continue to develop our Critical Rare Earth Element (“CREE”)
District in SE Labrador.
Greg Andrews, President/CEO stated: “We are
extremely happy to call this our home, as it was renovated with the
hard work by the late Ray Saunders, and we are proud to continue
his legacy with this property.”
The building was financed by way of a one year
short term loan which carries a 2% monthly interest charge and
repayable at anytime. There is a minimum of 6 months interest
payable and the lenders are arm’s length to the Company.
About Search Minerals Inc.
Led by a proven management team and board of
directors, Search is focused on finding and developing Critical
Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf)
resources within the emerging Port Hope Simpson – St. Lewis CREE
District of South East Labrador. The Company controls a belt 63 km
long and 2 km wide and is road accessible, on tidewater, and
located within 3 local communities. Search has completed a
preliminary economic assessment report for
FOXTROT, and a resource estimate for 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 our 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. We have completed two pilot plant
operations and produced highly purified mixed rare earth carbonate
concentrate and mixed REO concentrate for separation and
refining.
For further information, please
contact:
Greg AndrewsPresident and CEOTel:
604-998-3432E-mail: info@searchminerals.ca
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Statement Regarding
“Forward-Looking” Statements:
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively “forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but
not always, identified by words such as “expects”, “anticipates”,
“believes”, “intends”, “estimates”, “potential”, “possible”, and
similar expressions, or statements that events, conditions, or
results “will”, “may”, “could”, or “should” occur or be achieved.
Forward-looking statements in this news release relate to, among
other things, completion of the Offering. Actual future results may
differ materially. There can be no assurance that such statements
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation, the risk that the Company does
not receive the approval of the TSX Venture Exchange for the
Offering.
Readers should not place undue reliance on the
forward-looking statements and information contained in this news
release concerning these times. Except as required by law, the
Company does not assume any obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change.
Search Minerals (TSXV:SMY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Search Minerals (TSXV:SMY)
Historical Stock Chart
From Jul 2023 to Jul 2024