Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced the results of its annual general meeting held May 29, 2026, where shareholders approved all matters presented. The approved items include the election of directors Rohan Hazelton, Michael Pearson and Diane Poole, the reappointment of Mao & Ying LLP Chartered Accountants as auditor, and the ratification of the company’s 10% rolling stock option plan. Management stated that the outcome reflects shareholder confidence as Search Minerals advances development of its Foxtrot and Deep Fox rare earth deposits and continues work on its Direct Extraction Process technology.
The company controls a belt 64 km long and 2 km wide in the emerging Port Hope Simpson – St. Lewis CREE District of South-east Labrador. This area is road accessible, on tidewater, and located near three local communities. Search has completed a preliminary economic assessment report with resource estimates for FOXTROT and DEEP FOX. Additionally, the company is working on four exploration prospects along the belt: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOMEFOX.
Search has also continued to optimize its patented Direct Extraction Process technology with support from the Department of Energy and Mines, Government of Newfoundland and Labrador, and from the Atlantic Canada Opportunity Agency. The company has completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
The shareholder approval of the stock option plan and auditor reappointment provides stability for the company’s ongoing operations. This is important as Search Minerals focuses on developing critical rare earth elements (CREE), zirconium (Zr), and hafnium (Hf) resources, which are essential for various high-tech and green energy applications. The advancement of the Foxtrot and Deep Fox deposits could position the company as a key supplier in the rare earth supply chain, reducing dependence on foreign sources.
The impact of this announcement extends to the industry and investors. For the industry, successful development of these deposits and the Direct Extraction Process could lead to more efficient and environmentally friendly extraction methods. For investors, the shareholder confidence indicated by the meeting results may signal a positive outlook for the company’s future, especially as it progresses toward production. The company’s location in Labrador, with existing infrastructure and community support, further enhances its potential.
More news and updates relating to SHCMF are available in the company’s newsroom.
