Search Minerals Increases Size of Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA—(May 19, 2010) - Search Minerals Inc. (“Search” or the “Company”) (TSX VENTURE:SMY) is pleased to announce that, further to its news releases dated April 23, 2010 and April 26, 2010, the Company has increased the size of the non flow-through portion of its non-brokered private placement (the “Private Placement”) from a maximum of 2,000,000 non flow-though units to up to 2,600,000 non flow-through units, for total gross proceeds of up to $1,300,000. All other terms of the Private Placement remain as previously announced.
The funds will be used primarily to fund the continued exploration and development activities on the Company’s Port Hope Simpson and B and A claims and for working capital purposes.
About Search Minerals Inc.
Search Minerals Inc. and its wholly-owned subsidiary, Alterra Resources Inc., are Canadian resource companies focused on the acquisition, exploration and development of rare-earth element projects and a variety of base metals, gold and uranium projects in the Province of Newfoundland and Labrador.
Search Minerals Inc. is also advancing certain conceptual technologies relating to improving metal recoveries from existing processing and production facilities.
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.