Search Minerals Strengthens Management Team and Provides Timing Update for Release of PEA
February 02 2022 - 5:00AM
Search Minerals Inc. (TSXV: SMY | OTCQB:
SHCMF) (“
Search” or the
“
Company”), is pleased to announce the appointment
of Todd Burlingame, a 30-year mining industry veteran with a
history of advancing projects across northern Canada, as the
Company’s Chief Operating Officer (COO) effective February 1, 2022.
“Search Minerals is at a critical turning point
in our evolution. Augmenting our existing executive team with
specific skills and experience in moving from advanced exploration
into production has been a priority,” said Greg Andrews,
President/CEO. “We are delighted with the appointment of Todd. His
depth of expertise and proven ability to deliver results in complex
stakeholder and multi-jurisdictional landscapes will be a great
advantage for Search. His specific experience with
hydro-metallurgical processing facilities on the Island of
Newfoundland and mining projects in Labrador make for an ideal fit
with our existing team.”
Mr. Burlingame is a mining executive with over
30 years of industry experience in leading companies through the
transition from exploration to production. Mr. Burlingame holds a
degree in geology from the University of British Columbia. His
broad range of experience include several executive roles with
mining companies in jurisdictions including Newfoundland and
Labrador, Nunavut, the Northwest Territories and the Yukon.
In addition to direct mining experience, Mr.
Burlingame has served as Chair and CEO of two Federal-Indigenous
Resources Co-Management Boards, the Mackenzie Valley Environmental
Impact Review Board and the Mackenzie Valley Land and Water Board.
It was while serving in these capacities that Mr. Burlingame
developed an in depth understanding of the inter-relationship among
federal, provincial and indigenous governments and resource
development.
“I am extremely pleased to have been selected to
join the Search Minerals team,” said Mr. Burlingame. “The team has
diligently focused on delineating a growing resource and developing
breakthrough processing technology. I see this as a once in a
lifetime opportunity to be part of establishing Newfoundland and
Labrador as a key part of the global supply chain for rare earth
elements. There is now a line-of-sight path to production, and I am
honored to be a part of realizing this goal.”
PRELIMINARY ECONOMIC ASSESSMENT
UPDATE
The Company also announces that the current
estimate for completion of the Preliminary Economic Assessment
report (“PEA”) will be near the end of March. The results of the
PEA will be announced first by news release followed by the filing
of a National Instrument 43-101 Report on SEDAR within 45 days
after the PEA news release has been issued.
STOCK OPTIONS
In addition, the Company announces that is has granted a total
of 11,550,000 stock options to its directors, officers, employees
and consultants. All the stock options will be exercisable
for a period of five years at an exercise price of $0.20. Of
the total number of stock options granted, 8,550,000 stock options
were granted to directors and senior officers of 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:
Except for the statements of historical fact,
this news release contains "forward-looking information" within the
meaning of the applicable Canadian securities legislation that is
based on expectations, estimates and projections as at the date of
this news release. "Forward-looking information" in this news
release includes information about the timing of the release of the
Company’s PEA, and other forward-looking information. Factors that
could cause actual results to differ materially from those
described in such forward-looking information include, but are not
limited to, the inability to obtain or secure the applicable
resources and consultants to complete the PEA in the timeframe
currently contemplated.
The forward-looking information in this news
release reflects the current expectations, assumptions and/or
beliefs of the Company based on information currently available to
the Company. In connection with the forward-looking information
contained in this news release, the Company has made assumptions
about the Company's financial condition and development plans do
not change as a result of unforeseen events.
Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein. The
Company does not assume any obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward-looking
statements, unless and until required by applicable securities
laws. Additional information identifying risks and uncertainties is
contained in the Company's filings with the Canadian securities
regulators, which filings are available at www.sedar.com.
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