Slide 1: Search Minerals – Magnet Rare Earths
PDAC 2023 Search Minerals Magnet Rare Earths Pioneering a Rare Earth Element District and establishing a secure Canadian supply of Rare Earth Elements TSX-V: SMY OTCQB: SHCMF Search Minerals Headquarters, St. Lewis, Labrador
Slide 2: Disclaimer
DISCLAIMER The information in this presentation is provided as of March 4, 2023 for informational purposes only, is not complete and does not contain all material information about Search Minerals including important disclosures and risk factors associated with the Company’s business. This presentat
Slide 3: Search Minerals Overview
Search Minerals Overview • Mine-to-magnet strategy to develop our Canadian magnet rare earth element (REE) mine and secondary processing in Newfoundland and Labrador, Canada • Flagship Deep Fox and Foxtrot Deposits • Significant exploration potential: 64 km long Port Hope Simpson - St. Lewis CREE Di
Slide 4: Magnet Rare Earth Elements
Magnet Rare Earth Elements • Nd, Pr, Dy, and Tb are known as the magnet REEs used to produce the world’s most efficient and highest strength permanent magnets • Permanent magnets enable the conversion of electrical energy into motion via permanent magnet motors that power EVs, mobile devices and rob
Slide 5: Deep Fox and Foxtrot PEA
Deep Fox and Foxtrot PEA • NI 43-101 Technical Report/PEA July, 2022 • 26 years open pit/underground mine life from two significant REE deposits at Deep Fox/Foxtrot • Project Capex $422 million plus Ship to Primary Secondary Brownfield Final REE Mining in Magnetic Processing Site on the Oxide Labrad
Slide 6: Deep Fox and Foxtrot Project
Deep Fox and Foxtrot Project • St. Lewis, Port Hope Simpson, and Mary’s Harbour are supportive. Local workforce Ideal Location: awaiting training/employment opportunities Distance from tidewater port: Deep Fox Deposit- 2.7km • Exploration, mining, and primary processing to produce a REE mineral conc
Slide 7: Deep Fox and Foxtrot Project
Deep Fox and Foxtrot Project Job Creation: • 0.88% grade of total rare earth elements prior to processing Open Pit + Concentrator: • Primary processing rate of 2,000 tonnes/day will produce 200,000 tonnes/year 128 direct jobs of 3.5% TREO concentrate Peak Underground + • AFN Engineering (Oct 2022):
Slide 8: Brownfield Site on the Island of Newfoundland
Brownfield Site on the Island of Newfoundland Ideal Location: • Hydrometallurgical plant (direct extraction) to produce a mixed 56% REE carbonate. Within a 1.5 hour • 56% mixed REE carbonate will be transferred to a separation plant where solvent extraction drive of St. John’s separates one element
Slide 9: Market Analysis
Market Analysis “Looking forward to 2035, Adamas forecasts that global demand for NdFeB magnets will triple while global production will only double, constrained by long lead times to bring online new rare earth oxides production.” - Adamas Intelligence • Adamas forecasts magnet rare earth oxide def
Slide 10: Market Analysis
Market Analysis • Search will supply 1,437 tpa of magnet rare earth oxides (6.8% of the predicted Total average 2030 shortage, 2.1% of 2035 shortage) production tonnes per annum (tpa) over • By 2035, global need for 48 Deep Fox and Foxtrot-sized mines. 26 years: • Adamas Intelligence provided the fo
Slide 11: Next Steps
Next Steps Search and its technical • Natural Resources Canada - $5 Million to help fund the construction and partner SGS are collaborating operation of a demonstration plant for rare earth extraction and recovery. with Memorial University of • Purpose of demonstration plant: Newfoundland and Labrad
Slide 12: Estimated Timeline to Production
Estimated Timeline to Production • Pre-feasibility work continues in 2023 • Demonstration Plant completion: March 31, 2024 • Bankable Feasibility Study: H2, 2024 • Construction in Labrador: 2025/2026 • First production of concentrate: Q4, 2026 • Brownfield site on island of NL: construction period o
Slide 13: Contact Information
Contact Info Contact Information Leo Power, Interim CEO, Director, and Chairman leopower@searchminerals.ca Dr. David Dreisinger, VP Metallurgy david.dreisinger@searchminerals.ca Dr. Randy Miller, P.Geo., VP Exploration randymiller@searchminerals.ca Todd Burlingame toddburlingame@searchminerals.ca Ex
Slide 14: Contact Information
Contact Information TSX-V: SMY OTCQB: SHCMF
Slide 15: Contact Information
Contact Information David S. Abraham, The Elements of Power A highly recommended book that provides a clear and comprehensive investigation of the importance of rare earth elements now and into the future. TSX-V: SMY OTCQB: SHCMF