Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF), a company focused on developing critical rare earth elements (CREE) resources in Labrador, announced the granting of 1.8 million stock options on April 30, 2026. The options are exercisable at $0.50 per share and expire on April 30, 2031, with the majority vesting quarterly over two years and the remainder in staged tranches, subject to TSX Venture Exchange approval. This move is intended to align the interests of directors, officers, and consultants with shareholders and retain key personnel as the company advances its projects.
The stock option grant comes at a pivotal time for Search Minerals, which controls a 64-kilometer-long, 2-kilometer-wide belt in the emerging Port Hope Simpson – St. Lewis CREE District of Southeast Labrador. The company’s assets are road accessible, on tidewater, and near three local communities, providing logistical advantages for potential development. Search has completed a preliminary economic assessment with resource estimates for its flagship FOXTROT and DEEP FOX deposits, and is actively exploring four additional prospects: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOME FOX.
Beyond exploration, Search has been optimizing its patented Direct Extraction Process technology with support from 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 suitable for separation and refining. This technology could position Search as a domestic supplier of critical minerals, which are essential for industries such as electronics, defense, and renewable energy.
The granting of stock options signals management’s confidence in the company’s trajectory. As global demand for rare earth elements grows, driven by the transition to green energy and advanced technologies, companies like Search Minerals are strategically positioned to help reduce reliance on foreign supply chains. The company’s focus on critical rare earths, zirconium, and hafnium aligns with government initiatives to secure domestic resources. For the industry, this development underscores the ongoing investment in rare earth projects and the importance of incentivizing key talent to advance these capital-intensive ventures.
For more details on the stock option grant, the full press release is available at https://ibn.fm/mQ6zj. The latest news and updates on Search Minerals can be found in the company’s newsroom at https://ibn.fm/SHCMF.
