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, including 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 said 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 emerging Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District of South-east Labrador. The property is road accessible, on tidewater, and located near three local communities. Search has completed a preliminary economic assessment report with resource estimates for its Foxtrot and Deep Fox deposits. Additionally, the company is working on four exploration prospects along the belt: Fox Meadow, Silver Fox, Fox Run, and Awesome Fox.
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 from 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. This technology is central to the company’s strategy to efficiently process rare earth elements, which are critical for various high-tech and green energy applications.
The shareholder approval of the 10% rolling stock option plan provides the company with flexibility to incentivize directors, officers, and consultants. This is particularly important as Search Minerals advances its projects and technology, which require significant capital and expertise. The reappointment of Mao & Ying LLP as auditor ensures continuity in financial oversight.
For investors, the strong shareholder support signals confidence in the management team’s ability to execute on the company’s development plans. The rare earth elements market is growing due to demand from electric vehicles, wind turbines, and defense technologies. Search Minerals’ focus on critical rare earth elements positions it to potentially supply a market that is currently heavily dependent on China. The company’s progress in Labrador and its proprietary extraction technology could offer a secure North American source of these materials.
To view the full press release, visit https://ibn.fm/GhvfZ. For more information about Search Minerals, the latest news and updates are available in the company’s newsroom at https://ibn.fm/SHCMF.
