Business
Search Minerals Provides Update on Mann #1 and Two Tom Lake Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2024) - Search Minerals Inc. (TSXV:...
About this update from Search Minerals Inc.
[{"type":"text","content":"Search Minerals Provides Update on Mann #1 and Two Tom Lake Option AgreementVancouver, British Columbia--(Newsfile Corp. - August 9, 2024) - Search Minerals Inc. (TSXV: SMY) (\"Search\" or the \"Company\"), is pleased to announce that pursuant to the agreement announced June 17, 2021, (the \"Letter Agreement\") with Roland Quinlan and Eddie Quinlan (collectively, the \"Vendors\") for the option (the \"Option\") to acquire an undivided 100% interest in and to certain claims owned by the Vendors known as the Mann #1, and another two licenses proximal to Two Tom Lake, (the \"Property\"), the Company and Vendor have agreed to amend and reschedule the third anniversary cash payment of $60,000 and the provision of 300,000 shares (the \"Schedule\").Mr. Joseph Lanzon, Interim CEO, commented, \"On behalf of the newly elected Board of Directors, we extend our heartfelt gratitude to Roland and Eddie Quinlan, our esteemed long-term prospecting partners, for their deep understanding of Search Minerals' portfolio and project development goals, and the opportunities that lie ahead for the Company.\" The amended option agreement with the Vendors was necessary for the Company as we are currently under the British Columbia Securities Commission's cease trade order issued on April 8, 2024. The Board is diligently working to fulfill all material reporting requirements to reverse this unnecessarily incurred order, which was a direct result of the incompetent leadership practices of the former Board. Search Minerals shareholders overwhelmingly voted to reject their mismanagement and dereliction of fiduciary duty at the Annual General Meeting on June 21, 2024. For further information about Search Minerals Inc., please contact: Joseph Lanzon Interim CEO and Director Telephone: 613-796-5957 Email: [email protected] About Search Minerals Inc.: Search Minerals 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. Search controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other REE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 km long belt forming a REE District in Labrador. Forward-Looking Information St...