Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced the commencement of its 2026 environmental baseline studies for the DEEP FOX and FOXTROT rare earth elements projects in southeastern Labrador. This initiative marks a key de-risking milestone as the Company advances toward Environmental Assessment Registration targeted for the first half of 2027. The program will generate critical environmental and technical data to support regulatory submission, project optimization and development planning.
The studies encompass hydrology, ecological and atmospheric assessments, designed to collect comprehensive baseline data. This information is essential for the Environmental Assessment Registration process and will inform future project decisions. By initiating these studies early, Search Minerals is proactively addressing regulatory requirements and demonstrating its commitment to responsible development.
The DEEP FOX and FOXTROT projects are located within the emerging Port Hope Simpson – St. Lewis Critical Rare Earth Elements (CREE) District of southeastern Labrador. The Company controls a belt 64 km long and 2 km wide, which is road accessible, on tidewater, and near three local communities. Access to tidewater and existing infrastructure provides logistical advantages for potential future operations.
Search Minerals has completed a preliminary economic assessment (PEA) with resource estimates for both FOXTROT and DEEP FOX. These studies indicate the projects' potential viability. Additionally, the Company is exploring four prospects along the belt: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOME FOX. These early-stage targets have the potential to expand the Company's resource base.
The Company has also continued to optimize its patented Direct Extraction Process (DEP) technology, supported by 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. This proprietary technology positions Search Minerals to potentially become a low-cost producer of rare earth elements.
The launch of the 2026 baseline program reinforces Search Minerals' position within the emerging North American rare earth supply chain. As global demand for rare earth elements grows, driven by applications in clean energy, electronics, and defense, domestic sources are becoming increasingly strategic. The DEEP FOX and FOXTROT projects could contribute to reducing reliance on foreign supply.
For more information, the full press release is available at https://ibn.fm/8y33A. The latest news and updates relating to SHCMF are available in the company’s newsroom at https://ibn.fm/SHCMF.
