Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced on April 30, 2026, that it has granted 1.8 million stock options to directors, officers, employees, and consultants. The options are exercisable at $0.50 per share and expire on April 30, 2031. The majority of the options vest quarterly over two years, with the remainder vesting in staged tranches, subject to approval by the TSX Venture Exchange.
This grant is designed to align the interests of key personnel with shareholders and retain talent as the company advances its critical rare earth elements (CREE) projects in Labrador. Search Minerals controls a 64-kilometer-long by 2-kilometer-wide belt in the emerging Port Hope Simpson – St. Lewis CREE District of South-east Labrador. The district is road accessible, on tidewater, and near three local communities, providing logistical advantages for development.
The company has completed a preliminary economic assessment (PEA) with resource estimates for its flagship FOXTROT and DEEP FOX deposits. Additionally, Search is exploring four prospects along the belt: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOME FOX. These assets position the company to potentially supply critical minerals essential for electric vehicles, renewable energy, and defense technologies.
Search Minerals has also been optimizing its patented Direct Extraction Process technology, supported by the Department of Energy and Mines, Government of Newfoundland and Labrador, and the Atlantic Canada Opportunity Agency. The company has completed two pilot plant operations, producing highly purified mixed rare earth carbonate concentrate and mixed rare earth oxide concentrate for separation and refining. This technology could reduce processing costs and environmental impact compared to traditional methods, strengthening the company's competitive position.
The stock option grant comes at a time when global demand for rare earth elements is rising due to the transition to clean energy and electrification. By incentivizing its team, Search Minerals aims to accelerate project development and potentially bring new supply to market. Investors should note that the options are priced at a premium to recent trading levels, reflecting management's confidence in the company's prospects.
For more information on Search Minerals, visit the company's newsroom at https://ibn.fm/SHCMF. The full press release is available at https://ibn.fm/mQ6zj.
