Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced on April 30, 2026, the grant of 1.8 million stock options to directors, officers, and consultants. The options are exercisable at $0.50 per share and will expire on April 30, 2031. The grant is subject to approval by the TSX Venture Exchange, with the majority vesting quarterly over two years and the remainder in staged tranches.
This move is designed to align the interests of key personnel with those of shareholders, providing long-term incentives as the company advances its critical rare earth elements (CREE) projects in southeastern Labrador. The company controls a 64-kilometer-long by 2-kilometer-wide belt in the Port Hope Simpson – St. Lewis CREE District, an area that is road accessible, on tidewater, and near three local communities.
Search Minerals has completed a preliminary economic assessment with resource estimates for its flagship FOXTROT and DEEP FOX deposits. Additionally, the company is exploring four other prospects along the belt: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOMEFOX. The company has also been optimizing 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. Two pilot plant operations have been completed, producing highly purified mixed rare earth carbonate concentrate and mixed rare earth oxide concentrate for separation and refining.
The granting of stock options comes at a time when demand for rare earth elements is growing, driven by their use in electric vehicles, wind turbines, and other clean energy technologies. Rare earths are also critical for defense applications and electronics. By securing and incentivizing its team, Search Minerals is positioning itself to capitalize on this demand and advance its projects toward development.
For more information on Search Minerals, visit the company's newsroom at https://ibn.fm/SHCMF. The full press release can be viewed at https://ibn.fm/mQ6zj.
