Greg Andrews, president and chief executive officer of Search Minerals recently stated: "The current PEA marks the achievement of a significant milestone in Search's pursuit of establishing a secure and reliable REE mining and process industry in the province of Newfoundland and Labrador. The strong economic case supports the development of mining and primary production of the Deep Fox and Foxtrot deposits in Labrador and further refining of concentrate into REE mixed oxides and carbonates on the island of Newfoundland." Mr. Andrews added: "We believe Search is well positioned to attract strategic partners and investment as we move forward with the next steps of development including completing a bankable feasibly study and initiating the approvals process for this project. Our goal is to be in production by 2025. The existence of other highly prospective targets within our district provides flexibility to ramp up future development to respond to increasing market demands for our permanent magnet material."
IWA is a shareholder of Search Minerals
Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company’s operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.