Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) announced on April 30, 2026, the granting of 1.8 million stock options to its directors, officers, and consultants. The options are exercisable at $0.50 per share and will expire on April 30, 2031. The majority of the options will vest quarterly over two years, with the remainder vesting in staged tranches, subject to approval by the TSX Venture Exchange.
This move is designed to align the interests of key personnel with those of shareholders, providing long-term incentives as the company advances its critical rare earth elements (CREE) projects. Search Minerals is focused on developing the Port Hope Simpson – St. Lewis CREE District in South-east Labrador, a region rich in rare earth elements, zirconium, and hafnium. The company controls a 64-kilometer-long, 2-kilometer-wide belt that is road accessible, on tidewater, and near local communities.
Search Minerals has completed a preliminary economic assessment for its flagship FOXTROT and DEEP FOX deposits, which contain significant resources. The company is also exploring four additional prospects along the belt: FOX MEADOW, SILVER FOX, FOX RUN, and AWESOMEFOX. Furthermore, 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 REO concentrate for separation and refining.
The granting of stock options comes at a critical time when demand for rare earth elements is rising due to their use in electric vehicles, wind turbines, and other green technologies. By securing key talent, Search Minerals aims to accelerate its development timeline and potentially become a significant supplier in the North American rare earth supply chain. Investors can find the latest news and updates on the company at https://ibn.fm/SHCMF.
