Search Minerals Shareholders Approve Board, Auditor and Stock Option Plan as Company Advances Rare Earth Projects
Shareholders of Search Minerals Inc. voted in favor of all matters at the annual general meeting, signaling confidence as the company progresses its Foxtrot and Deep Fox rare earth deposits and Direct Extraction Process technology.
Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced the results of its annual general meeting held May 29, 2026, where shareholders approved all matters presented. The approved items include the election of directors Rohan Hazelton, Michael Pearson and Diane Poole, the reappointment of Mao & Ying LLP Chartered Accountants as auditor, and the ratification of the company’s 10% rolling stock option plan.
Management indicated that the outcome reflects shareholder confidence as Search Minerals advances development of its Foxtrot and Deep Fox rare earth deposits and continues work on its Direct Extraction Process technology. The company controls a belt 64 km long and 2 km wide in the Port Hope Simpson – St. Lewis CREE District of South-east Labrador, which is road accessible, on tidewater, and near three local communities.
Search Minerals has completed a preliminary economic assessment report with resource estimates for Foxtrot and Deep Fox. The company is also working on four exploration prospects along the belt: Fox Meadow, Silver Fox, Fox Run and Awesome Fox. Additionally, Search has continued to optimize its patented Direct Extraction Process technology with support from the Department of Energy and Mines, Government of Newfoundland and Labrador, and 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 concentrate for separation and refining.
The approval of the stock option plan allows the company to grant options to directors, officers, employees and consultants, aligning their interests with those of shareholders. This shareholder endorsement comes at a critical time as the demand for critical rare earth elements (CREE), zirconium and hafnium grows, driven by their use in clean energy technologies, electronics and defense applications. Search Minerals is focused on finding and developing these resources within the emerging Port Hope Simpson – St. Lewis CREE District.
For more information about Search Minerals, visit the company's newsroom at https://ibn.fm/SHCMF. The full press release can be accessed at https://ibn.fm/GhvfZ.