VANCOUVER, March 13, 2015 /CNW/ - Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY), and its wholly-owned subsidiary, Alterra Resources Inc. (“Alterra”), are pleased to announce the discovery of three belts of “critical rare earth element” (CRITICAL REE) mineralization in the Henley Harbour area of SE Labrador: Bad Bay - Iceberg, St. Peter’s Bay and Pleasure Pond. Channel and grab samples from showings in these belts reveal high concentrations of REE, Nb, Zr and Y from the Bad Bay-Iceberg belt, and high concentrations of Zr, Nb, and HREE, including Dy and Y, from St. Peter’s Bay and Pleasure Pond belts.

Highlights

• Three new prospective belts for CRITICAL REE (Nd, Tb, Dy, Y) discovered in the Henley Harbour CRITICAL REE District, SE Labrador;
• Best channel results (Bad Bay – Iceberg): 3.55m of 280 ppm Dy (322 ppm Dy2O3) including 0.60m of 506 ppm Dy (582 ppm Dy2O3); (Pleasure Pond): 0.18m of 904 Dy (1040 ppm Dy2O3);
• High grades are found in each belt: 1) Bad Bay - Iceberg reveals Dy values up to 506 ppm (Dy203 up to 582 ppm); 2) St. Peter’s Bay reveals Dy values up to 1290 ppm (Dy203 up to 1484 ppm); and, 3) Pleasure Pond reveals Dy values up to 3400 ppm (Dy2O3 up to 3910 ppm); and,
• Each belt exhibits characteristics similar to the HighREE Hills and Ocean View belts found 30 - 40 km to the north in the Port Hope Simpson CRITICAL REE District.

Greg Andrews, Search President, comments ” The Henley Harbour District is the second CRITICAL REE District that Search has discovered in Labrador. We will be focusing on the FOXTROT project in the Port Hope Simpson CRITICAL REE District and will be looking for a joint venture partner to fund further development in the Henley Harbour District.”

CRITICAL REE Prospects in the Henley Harbour CRITICAL REE District

Three new belts containing Critical REE mineralization have been discovered in the Henley Harbour CRITICAL REE District, SE Labrador (see Figure 1): Bad Bay – Iceberg (2.25 km long), St. Peter’s Bay (< 1 km long) and Pleasure Pond (1.5 km long) belts. The Henley Harbour area is located 25-30 km southeast of Mary’s Harbour and 30 - 40 km south of St. Lewis and is accessible by air and boat. The three new belts are within 0.5 km of tidewater and occur from 18 - 25 km east of the Trans-Labrador Highway; the FOXTROT PROJECT is located 33 – 40 km to the north.

These belts contain high grades of CRITICAL REE found mainly in allanite-, zircon- and fergusonite-bearing pegmatites and related volcanic rocks in a setting similar to the HighREE Hills (see Search Minerals:Encouraging Phase I drilling results from Pesky Hill REE Prospect in Port Hope Simpson REE district, SE Labrador, January 25, 2013) and Ocean View belts (see Search Minerals discovers the Ocean View HREE-Zr-Y-Nb Prospect in Port Hope Simpson REE District, SE Labrador, November 21, 2011) located to the north. High grades have been found in each belt:

1) Bad Bay - Iceberg (see Table 1 and Table 2) reveals Dy values from 195-506 ppm (Dy203 from 224-582 ppm); HREE+Y/Total REE+Y ranges up to 25.54%; Nb values range from 352 to 3852 ppm, and Y values range from 971 to 2156 ppm;

2) St. Peter’s Bay (see Table 3) reveals Dy values from 228-1290 ppm (Dy203 from 259-1481 ppm); HREE+Y/Total REE+Y ranges up to 84.87%; Nb values range from 1339 to 14862 ppm, and Y values range from 1199 to 7056 ppm; and

3) Pleasure Pond (see Table 3) reveals Dy values up to 3400 ppm (Dy203 up to 4500 ppm); HREE+Y/Total REE+Y ranges up to 65.07%; Nb values range up to 14407 ppm, and Y values range up to 14700 ppm.

Analytical techniques, sample preparation and channel sampling procedures are outlined in Search’s July 27, 2010 and September 8, 2010 news releases.

A small exploration program is planned in 2015 to further evaluate these REE mineralized belts.

Figure 1 – Henley Harbour REE Belts

Qualified Person

Dr. Randy Miller, Ph.D., P.Geo, is the Company’s Vice President, Exploration, and Qualified Person (as defined by National Instrument 43-101) who has supervised the preparation of and approved the technical information reported herein. The Company will endeavour to meet high standards of integrity, transparency, and consistency in reporting technical content, including geological and assay (e.g., REE) data.

About Search:

Search Minerals Inc. (TSXV: SMY) is a TSX Venture Exchange listed company focused on creating value through finding and developing “critical rare earth element (CRITICAL REE)” mineral assets in Labrador – CRITICAL REEs (Nd, Eu, Tb, Dy, Y) have growing demand, constrained or restricted supply and are commonly used in innovative technologies.”

Search is the discoverer of the Port Hope Simpson CRITICAL REE District, a highly prospective CRITICAL REE belt located in southeast Labrador, where the Company controls a belt 70 km long and up to 8 km wide. Search owns 100% of the advanced CRITICAL REE resource called the Foxtrot Project (FOXTROT), and a recently announced Foxtrot-like prospect called “Deepwater Fox”. In addition, the Company has identified more than 20 other Foxtrot-like prospects in the District. The primary focus of Search is to continue to advance the Foxtrot resource, while evaluating other Foxtrot-like prospects. Several of the Foxtrot-like prospects require exploration drilling programs and may provide additional resources to a central processing facility that would be situated within the District.

The Company is also the discoverer of the Henley Harbour CRITICAL REE District in SE Labrador, where the Company controls a belt approximately 12 km long and 2 km wide. This district is 25 km south of the Company’s primary focus, the Port Hope Simpson CRITICAL REE District.

Search also holds a number of other CRITICAL REE mineral prospects in Labrador in its portfolio, including: claims in the Strange Lake Complex, where Quest Rare Minerals has a Joint Venture with Search; and, claims in the Red Wine Complex, where Great Western Minerals Group has a Joint Venture with Search.

Search Minerals is led by a Management Team and Board of Directors with proven track records in the mining industry. The Company also has experienced geological and metallurgical teams led by Dr. Randy Miller and Dr. David Dreisinger respectively.

All material information on the Company may be found on its website at searchminerals.ca and on SEDAR at sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.

Cautionary Statement:

This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially from these forward- looking statements include those risks set out in Search’s public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in preparing the forward- looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Search disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Search Minerals Inc.

Image with caption: “Figure 1 - Henley Harbour REE Belts (CNW Group/Search Minerals Inc.)”. Image available at: http://photos.newswire.ca/images/download/20150313_C4632_PHOTO_EN_13187.jpg