Presentation-Nov-2018-(website) search1.pdf

Search presentation

1. Phase

2. 2| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Cautionary Statement
Thefollowingpresentationmayincludecertain“forward-lookingstatements”withinthemeaningoftheUnitedStatesPrivateLitigation
ReformActof1995andapplicableCanadianSecuritiesLaws.Allstatementsotherthanstatementsofhistoricalfact,includedinthe
presentation,includingwithoutlimitation,statementsregardingpotentialmineralizationandreserves,explorationresults,andfuture
plansandobjectivesofSearchMinerals,areforward-lookingstatements.Wordssuchas“expect”,“anticipate”,“estimate”,“may”,
“will”,“should”,“intend”,“believe”andothersimilarexpressionsareforward-lookingstatements.Forward-lookingstatementsare
notguaranteesoffutureresultsandconditionsbutratherreflectourcurrentviewswithrespecttofutureeventsandaresubjectto
risks,uncertainties,assumptionandotherfactors,andactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipatedin
suchstatements.Therecanbenoassurancethatsuchforward-lookingstatementswillprovetobeaccurate.Webaseourforward-
lookingstatementsoninformationcurrentlyavailabletousandwedonotassumeanyobligationtoupdatethem,exceptasrequired
bylaw.
AnadditionalCautionaryNotetoInvestors:Intheeventthatweusecertaintermsinthispresentationsuchas“resource”,
“measuredresource”,“indicatedresource”and“inferredresource,”USinvestorsarecautionedthat,whilesuchtermsare
recognizedandrequiredbyCanadianSecuritiesLaws,theUnitedStatesSecuritiesandExchangeCommissiondoesnotrecognize
them.UnderU.S.standards,mineralizationmaynotbeclassifiedasa“reserve”unlessthedeterminationhasbeenmadethatthe
mineralizationcouldbeeconomicallyandlegallyproducedorextractedatthetimethereservedeterminationhasbeenmade.U.S.
investorsshouldnotassumethatalloranypartofmeasuredorindicatedresourceswilleverbeconvertedintoreserves.Inaddition,
“inferredresources”haveagreateramountofuncertainlyastotheirexistenceandastowhethertheycanbeminedlegallyor
economically.Accordingly,informationconcerningdescriptionsofmineralizationinthepresentationmaynotbecomparableto
informationmadepublicbycompaniesthataresubjecttotheSEC’sIndustryGuide7.
Allofthescientificandtechnicalinformationcontainedhereinhasbeenreviewedand/orpreparedbyeitherDr.RandyMiller,P.Geo.
orDr.DavidDreisinger,bothbeinga“QualifiedPerson”withinthemeaningofNationalInstrument43-101-StandardsofDisclosure
forMineralsProjects.ForfurtherdetailsoftheCompany’sproceduresandpoliciesfordataverification,thereaderisreferredtothe
Company’snewsreleasesandothermaterialinformationavailableontheCompany’swebsiteatwww.searchminerals.caoron
SEDARatwww.sedar.com

3. 3| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
About Search Minerals Inc.
▪Focused on developing and continued exploration within the emerging Port Hope Simpson
Critical Rare Earth Element (CREE) District of SE Labrador.
▪Primary objective: Extend the Mine life of District to greater than 14 years, with the
development of Foxtrot and Deep Fox as the initial projects
▪In February 2017, pilot plant testing clearly demonstrated the ability to produce a high purity
mixed rare earth oxide (REO) concentrate from over three tonnes of Foxtrot material.
▪October 2017, InCoRHoldings make strategic investment into Search and appoints 2
members to the Board. Search will continue to seek out value-add partners and to delineate
prospects that will ensure competitive low-cost production well beyond the 14-year mine life
contemplated in the PEA.
▪Search has strong working relationships with government partners at all levels (including
Atlantic Canada Opportunities Agency, InnovateNL, Department of Natural Resources,
NunatukaVutCommunity Council)

4. 4| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
The Opportunity
▪Control of a 70 km x 8 km Critical Rare Earth Element District
▪Preliminary Economic Assessment on Foxtrot Deposit
▪Low Initial Capital Cost $152M ($CDN) (including $33M contingency)
▪After-Tax Payback Period –4.4 years
▪Foxtrot and Deep Fox are Two of Three Significant Discoveries in the District
▪Deep Fox –Resource expected 2019
▪Fox Meadow –Preparing for drill ready
▪Breakthrough Hydrometallurgical Process (US Patent Pending)
▪$1.9M ($CDN) pilot plant project successfully completed in February 2017
▪Produced a high purity (98.99%) mixed rare earth oxide concentrate for further refining
▪the resulting dry stackable residue is environmentally friendly
▪Upward trending spot Nd/Proxide prices, at 3 year highs, up 50% YTD
▪ExperiencedManagement,BoardandTechnicalTeams
▪Mining Friendly Jurisdiction –Supportive Indigenous and Local Communities

5. 5| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Exploring for REE in Labrador since 2009
Community of St. Lewis 12 km from the Foxtrot and 2 km from Deep Fox

6. 6| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
REEs: Critical for the 21
st
Century
Green Energy
•Hybrid and Electric Vehicles
•Wind Energy
•Energy Efficient Lighting
Military and Defense
•Communications
•Aeronautical engineering and Jet Engines
•Guidance, Lasers, Sonar, Optics, and Electronic Counter Measures
Modern Technologies
•Cell Phones and Digital Cameras
•LCD and Plasma Televisions
•MRI machines, X-Ray, and PET Medical imaging
The Toyota Prius is estimated to contain:
1kg Neodymium Metal
15 kg Lanthanum Metal
0.1 kg Dysprosium Metal
Sales exceed 1 million units per annum
Each F35 fighter aircraft requires 417 kg of REEs
Each US nuclear submarine requires about 4,000 kg of REEs

7. 7| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
About Rare Earth Elements (REEs)
Source: AdamasIntelligence
Search Minerals is
positioned to supply the
rare earth elements, Nd,
Pr,Dy,Tbfor the
upwardingtrending
permanent magnet
market
“China is likely to
become a net
importer of certain
rare earths by 2020”
AdamasIntelligence –
November 2017 Report

8. 8| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
REEs: Automakers committed to EV Future
▪VolkswagenUS$84 billion: goal of bringing 300 EV models to market by 2030
▪Ford investing $4.5 billion over 5 years: on 13 new modelsfor 2023
▪GMto phase outICE vehicles; 20 EV models by 2023
▪Volvo: all new cars produced after 2019 will be electric or hybrid
▪BMWto mass produce EVs by 2020: 12 different models available by 2025
▪Mercedes-Benz:electrifying its entire lineup by 2022
▪Canada’s Magna and Linamar: investments in EV supply chains

9. 9| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
REEs: EVs Pressure on Material Supply

10. 10| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Market Dynamics
▪China produces 90% and consumes 60% of the world’s REEs.
▪Global REE Market –Est. $ 3B-$5B
▪China has the majority of Rare Earth Oxide refining capacity.
▪LynasCorporation (Australia) only significant REE producer outside of
China.

11. 11| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets -District Scale Opportunity
▪Search controls a 70 km x 8 km CREE District at tidewater
Key Points
Over 20 prospects so far.
Three major discoveries
•Foxtrot Deposit
•Deep Fox
•Fox Meadow (2016)
Excellent geological and
geophysical control.
April 2016 PEA is based on
the Foxtrot deposit only.

12. 12| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Foxtrot, Deep Fox and Fox HarbourHouse

13. 13| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets –Foxtrot Deposit
•Foxtrot Deposit lies within
the Fox Harbour Volcanic
belt. Delineated by over 70
drill holes, geological
mapping and geophysics
•Accessible location with high
grade zones containing
significant quantities of
CREEs

14. 14| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
▪Mine would have a 14-year lifespan consisting of 8 years open pit and 6 years
underground producing at 1,000 tpd.
▪Revenueestimates are dominated by Nd (39%), Dy (29%), Pr (14%) and Tb (8%), all
elements that are projected to remain in supply deficit.
Our Assets
Foxtrot NI 43-101 -Preliminary Economic Assessment
CLASSIFICATION
Cut-off
$NSR
TONNAGE
(TONNES)
Dy
(ppm)
Dy2O3
(ppm)
Nd
(ppm)
Nd2O3
(ppm)
Pr
(ppm)
Pr6O11
(ppm)
LREE
%
LREO
%
HREE
%
HREO
%
TREE
%
TRE0
%
OPEN PIT
INDICATED $165 4,129,0001772031,3931,6253724490.690.830.170.20.861.03
*INFERRED $165 228,000 1792061,3781,6073684450.680.820.170.20.851.02
UNDERGROUND
INDICATED $260 3,263,0002092401,6021,8684295180.780.940.190.230.971.17
*INFERRED $260 1,730,0002012311,6021,8684305200.80.960.190.230.991.19
TOTAL
INDICATED
7,392,0001912191,4851,7323974800.730.880.180.210.911.09
*TOTAL
INFERRED
1,958,0001992281,5761,8384235110.790.940.180.220.971.17
RPA, 2016: Search Minerals Inc. Technical report on the Foxtrot Project in Labrador, Newfoundland and Labrador Canada. NI 43-101Report prepared by Masun,
K.M., Weir, I.C. and Goode, J.R. April 1, 2016 (filed on SEDAR May 2, 2016).
*Cautionary Note: The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them to enable them to be categorized as mineral reserves and there is no certainty that
thepreliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability.

15. 15| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets
Foxtrot Deposit
FOXTROTPEA FINANCIALS ($CDN)
Plant Capacity 1,000 tpd production rate / 4.9 Mt over 14 years
Pre-Tax NPV
10%and IRR$93 million and 22%
After-Tax NPV
10%and IRR$48 million and 16.7%
Payback Period Pre-tax 3.5 years , After-tax 4.4 years
Gross Revenue LOM $1.7billion
Facility Operating Cost $238per tonne
CAPEX $152 million for startup with a $33M contingency
$ 57 million for underground -funded from operations
$ 23 million for mine closure -funded from operations
Cautionary Note: The preliminary economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them to enable them to be categorized as mineral reserves and there is no certainty that
thepreliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have a demonstrated economic viability.

16. 16| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets -Deep Fox Discovery
Drill Program Phase 1 and Phase 2 completed
➢Phase 1(Dec 2017/Summer 2018): 15 drill holes (2500m)
➢10 holes to 50m intervals, 5 holes to 100m intervals
➢First 8 holes of 15 -assays confirm true width 11m to
32m and grades of Nd, Pr, Dy, Tb over 15% greater
than Foxtrot
➢Phase 2 (Fall 2018): 8 drill holes (2500m)
➢to 100m, 150m and 200m intervals
➢Assays pending
Excellent location:
➢12 km from Foxtrot
➢2 km from St. Lewis deep water port and road network

17. 17| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets –Deep Fox Assay Results
➢DEEP FOXhas higher grade mineralization and higher true widths than FOXTROT;
➢Mineralization open below 200m depth ;
➢Mineralized zone is 350m in strike length, from 11m to 32m wide (true widths):
➢Phase 1 assay highlights (all true widths):
oFD-18-01 (50m level): 306 ppm Dy, 2264 ppm Nd, 608 ppm Pr, 2542 ppm La over 8.4m;
oFD-18-02 (100m level): 267 ppm Dy, 2067 ppm Nd, 576 ppm Pr, 2522 ppm La over 12.6m;
oFD-18-04: (100m level): 274 ppm Dy, 1961 ppm Nd, 531 ppm Pr, 2128 ppm La over 18.8m;

18. 18| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Deep Fox Discovery –Drill hole mapping

19. 19| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Our Assets -Fox Meadows Discovery
▪11 km west ofPort Hope Simpson
▪Similar surface strike lengths as Foxtrot
▪At least 30m wide and 500 m long
▪Exists in a treed and till covered area; more
difficult to establish width.
▪Mineralized channel sample assays are
on par with Foxtrot

20. A breakthrough in SIMPLICITY, LOW COST AND EFFICIENCY!

21. 21| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Pilot Plant Testing a Great Success
▪Processed over 3.0 tonnes of material
representative of the Foxtrot Deposit.
▪Clearly demonstrated the ability to produce a
high purity mixed Rare Earth Oxide (REO)
concentrate.
▪Average extractions of 85% neodymium (Nd),
86% praseodymium (Pr), 68% dysprosium (Dy),
71% terbium (b) and 86% lanthanum (La)
▪Successfully demonstrated the ability to bring
uranium, thorium, zinc, and iron levels below
levels expected by regulatory agencies and
refineries.

22. 22| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
The Direct Extraction Process
▪Material is crushed and treated
with relatively small amounts of sulphuric
acid at 180C (low temperature)
to render the REEs water soluble.
▪After water leaching, the rare earth solution
is purified by neutralizing the remaining acid.
The REEs are then precipitated into a
concentrate using sodium carbonate.
▪The rare earth carbonate is re-dissolved in
sulphuric acid to reject remaining impurities
and then REEs are precipitated again.
▪The rare earth precipitate is calcined (heated) to
produce a high grade mixed rare earth oxide.
Slurry of mixed rare earth carbonate for
sulphuric acid re-leaching
Acid/material mixture for feeding to heater

23. 23| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
The Direct Extraction Process
Cost and Competitive Advantages
Water Leach Circuits
REPS Solids before/after calcination

24. 24| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Foxtrot Material at Different Processing Stages
Vial #1 -Finely crushed material at start of metallurgical process
Vial #2 -Orangey stained “dry stackable” residue containing an iron precipitate
Vial #3 -35% mixed rare earth carbonate precipitate after uranium ion exchange
Vial #4 -60% zinc sulfide precipitate after removal of thorium, iron, aluminum and silica
Vial #5 -High purity rare earth oxalate
Vial #6 -Reddish final rare earth oxide made by heating the high purity oxalate

25. 25| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Next Steps -Processing
Pilot plant optimization
➢Enhanced process integration
➢Equipment testing
➢Streamlined impurity removal
Demonstration plant
➢Design and build at ~1/100
th
of full scale (10 tonnesof ore per day)
➢Produce up to 9 t of 99% high purity mixed REO concentrate
Separation and magnet manufacture
➢Working with a number of separation companies to produce individual high purity
rare earth products
➢High purity rare earth products can be used to test magnet fabrication

26. 26| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Business Strategy
Through Joint Ventures and Strategic
Partnerships, Search will bring additional
expertise to maximize production, sales cycles
and return to shareholders.
▪Search Minerals –will continue to develop the District and manage processing
facility and mine operations when construction decision is made.
▪Strategic Partner / Joint Venture Partner –Funding the Bankable Feasibility Study
needed to support a decision to build a Mine and Processing Facility.
▪Off-Take Partner –Supports financing by providing a purchase agreement for the
individual Rare Earth Oxides .
Search Minerals
Strategic JV Partner Off-take Partner

27. 27| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Business Strategy –Timeline to Production
2018
RESOURCE
✓Completed 5000m in Phase 1
and Phase 2 drill program
ENVIRONMENTAL/PERMITTING
✓Commence Environmental
Assessment reports for
Province and CEAA
PROCESSING AND REFINING
➢Continue pilot plant work with
assisted government program
➢Secure funding for
demonstration plant build and
operation in St. Lewis
STRATEGIC PARTNERS
✓Secure funding for Corporate
overheads/environmental work
2019
RESOURCE
➢Resource for Deep Fox
➢Update PEA for the District
➢Deep Fox -Phase 3 drill
program
ENVIRONMENTAL/PERMITTING
➢Complete Environmental
Impact Statement
PROCESSING AND REFINING
➢Continue pilot plant work with
assisted government program
➢Build/operate demonstration
plant in St. Lewis
STRATEGIC PARTNERS
➢Secure funding for bankable
feasibility studies
2020 2021
RESOURCE
Bankable feasibility Study
➢Infill drilling –Foxtrot
➢Infill drilling –Deep Fox
➢Permitting
ENVIRONMENTAL/PERMITTING
➢Continued stakeholder
engagement
➢Initiate Permitting process
PROCESSING AND REFINING
➢Demonstration plant operating
in St. Lewis
➢Engineering plans
STRATEGIC PARTNERS
➢Continued funding for bankable
feasibility studies
RESOURCE
➢Measured Resources for
Foxtrot and Deep Fox
➢Development permits approved
ENVIRONMENTAL/PERMITTING
➢Continued stakeholder
engagement
➢Permits to build
PROCESSING AND REFINING
➢Engineering complete –Ready
to build
STRATEGIC PARTNERS
➢Secure funding –Decision to
build
Cautionary Note: The Company has not prepared a feasibility study in relatonto this project and therefore, the time line to
production decision is subject to increased risk and uncertainty

28. 28| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Corporate Summary
As at September 15, 2018
Listing TSX-V: SMY
Head Office
Vancouver, British Columbia
Shares Outstanding
179,590,678
Warrants
26,637,809
Options
12,600,000
Fully Diluted
218,828,487
52 wk-Share Price Range
$0.03 -$0.09
Market Capitalization
$ 9,877,487
Bank
Royal Bank of Canada
Auditors
Mao & Ying LLP Chartered
Professional Accountants

29. 29| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Management
Greg Andrews, President, and Chief Executive Officer, Director
B.Commerce,Finance-UniversityofCalgary.Extensiveexperienceinstrategicplanning,
budgeting,implementationandadministration.
Dr. Randy Miller, Vice President Exploration
Ph.D.Geology-UniversityofToronto.REESpecialist;5yearsworkontheIOCStrangeLake
PropertyinLabradorand12yearsasREEspecialistwithNLGeologicalSurveyDr.Millerhas
beeninchargeoftheREEexplorationprograminLabradorsince2009.
Dr. David Dreisinger, Vice President Metallurgy, Director
Professor and Industrial Research Chair in Hydrometallurgy –University of British Columbia;
Over 300 journal and conference publications and 21 issued US patents; internationally
respected process consultant with global metallurgy companies; a Director of PolyMetMining
Corp., LeadFXInc. and Euro Manganese and an officer of CamrovaResources.
Matthew Anderson, Chief Financial Officer
B.Commerce-McGillUniversity;obtainedhisCAdesignationin2008;currentCFOofi-
MineralsInc.

30. 30| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Directors
Greg Andrews, Director, President and CEO –See Management
Dr. David Dreisinger, Director, V.P. Metallurgy -See Management
George Molyviatis, Director
Mr.MolyviatisisaGreek/SwissNationalandentrepreneurwithanextensivefinancial
background.HeisfounderofInCoRHoldingsandhasbeeninvolvedintheminingsectorfor
over25years.
Jocelyn Bennett, Director
Ms.BennettresidesinGeneva,Switzerland.Shehasastrongfinancialbackgroundand
extensiveaccountingandcorporateexperience.SheisaseniorpartneranddirectorofInCoR
HoldingsMs.BennettownsafiduciaryservicescompanyinGeneva,Switzerland
Leo Power, Director
GraduateoftheKellogg-SchulichJointMBAprogramatYorkUniversity,Torontoand
NorthwesternUniversity,Evanston,Illinois.MastersinOilandGasStudiesfromMemorial
UniversityofNL.Exec.Chairman-BariteMudServicesInc.;CEOandDirector-Ptarmigan
EnergyInc.;Director-CanadaFluorsparInc.;Director:MinfocusExplorationCorp.(MFX.V)
BoardMember-InstituteofCorporateDirectors,NLChapter;BoardMember-Atlantic
Cabinet,NatureConservancyofCanada;NLVice-Chair-AtlanticInstituteofMarketStudies.

31. 31| Corporate Presentation | SMY: TSX-V | searchminerals.ca | November 2018
SMY: TSX-V
Thank you!
Thank You!